Knit Witch's NitWit LBM, debt busting with yarn!

Okay I need to shift £3k of various debts, I need to shift rather a lot of weight :eek: and I need a plan! At the moment I have lots of yarn so I am planning on knitting to keep me away from snacking and on-line shopping :rotfl:

The main thing is I reckon I can clear £200 a month - possibly more so I need to knuckle down and do so! (and not buy any more! :o)
Must use my stash up!
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Comments

  • Knit_Witch
    Knit_Witch Posts: 4,436
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    Okay it looks as though I can make an extra payment of £30 tomorrow - this will be purely off the capital and not interest - so that should help matters out!

    I just need to keep away from on-line yarn sellers :rotfl:
    Must use my stash up!
  • Piquant_2
    Piquant_2 Posts: 5,769
    PPI Party Pooper Mortgage-free Glee! Debt-free and Proud!
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    Aha! A shiny new diary :hello: I shall subscribe and listen to your yarns with interest and amusement, no doubt.

    Happy diary days :T
    Total debt at October 2008: £67,213.30
    Total debt today: £0
    - debt and mortgage free 29th November 2013 :T
    Sealed Pot Challenge member 14
    Save £12K in 2014 - £6,521.90/£6K member 138



  • Knit_Witch
    Knit_Witch Posts: 4,436
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    Piquant wrote: »
    Aha! A shiny new diary :hello: I shall subscribe and listen to your yarns with interest and amusement, no doubt.

    Happy diary days :T

    Thank you Piquant! I will shift the debt, I will shift the weight, I won't over buy yarn :rotfl:
    Must use my stash up!
  • JoolzS
    JoolzS Posts: 824
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    If you have a ridiculous stash of yarn (as I have of fabric) could you knit things and sell them, even at a loss because you've already bought the yarn, to help clear the debt?

    Feel free to dismiss this idea out of hand - I would hate to sew just to sell items, but might consider sticking a couple of things on etsy if I were still in debt.

    Good luck with both your challeges :)
  • Knit_Witch
    Knit_Witch Posts: 4,436
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    JoolzS wrote: »
    If you have a ridiculous stash of yarn (as I have of fabric) could you knit things and sell them, even at a loss because you've already bought the yarn, to help clear the debt?

    Feel free to dismiss this idea out of hand - I would hate to sew just to sell items, but might consider sticking a couple of things on etsy if I were still in debt.

    Good luck with both your challeges :)

    Luckily I don't have that much (yet :rotfl:) and I don't think my knitting is good enough to sell :o, but that is worth thinking of for a little way down the line (the main thing is to NOT add any more yarn or patterns until I have used up a lot of what I have AND cleared a fair chunk of the debt as well!)
    Must use my stash up!
  • *Robin*
    *Robin* Posts: 3,364
    First Anniversary Combo Breaker First Post Stoptober Survivor
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    Hello Knit Witch, :hello:

    ..Fantastic user-name! :D
    Happy shiny new diary; love the idea of knitting your way out of debt (clever you - I never managed to learn that skill, much to Mum's disappointment).

    Good Luck on your debt-busting journey. :)

    Rx
    (subscribed ;))
  • Knit_Witch
    Knit_Witch Posts: 4,436
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    *Robin* wrote: »
    Hello Knit Witch, :hello:

    ..Fantastic user-name! :D
    Happy shiny new diary; love the idea of knitting your way out of debt (clever you - I never managed to learn that skill, much to Mum's disappointment).

    Good Luck on your debt-busting journey. :)

    Rx
    (subscribed ;))

    Thank you *Robin* (waves back :D)
    Must use my stash up!
  • DreamerHelen
    DreamerHelen Posts: 2,629
    First Post First Anniversary Combo Breaker I've been Money Tipped!
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    Hello There :beer:

    I wish I could knit....I'm left-handed and my Grandma tried to teach me left-handed knitting....and I did it for a little while but got bored....that's just typical of me...LoL :rotfl:

    I'm always envious of people that can knit....so go for it and enjoy...

    Well Done on the extra £30 payment...that's great.... :T

    I'm going to subscribe if that's okay....Keep up with your Journey....
  • cazmanian_minx
    cazmanian_minx Posts: 4,046
    First Anniversary First Post Debt-free and Proud!
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    Subscribing here too - you've reminded me that I have a lace-pattern shawl to finish off....

    Good luck with losing the lbs and the ££££s :)
    Home: 06/08: £145,145.00 Currently: £106,249.36 Amount paid off: £38,895.64 (26.8%)
    Ethel's: 05/18: £99,000.00 Currently: £99,000.00 Amount paid off: £0 (0.0%)
    Tor: 05/18: £82,500.00 Currently: £82,500.00 Amount paid off: £0 (0.0%)
    Debt-free: 17/02/2017
  • Katzen
    Katzen Posts: 535
    Uniform Washer
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    Hi Knit Witch,
    I'm also on a yarn diet this year in an effort to pay for our house. I have cheated a little by getting Mum to buy me projects as my Christmas &Birthday gifts, but even without that I would have plenty to get along with! Love a bit of Ravelry for a free pattern too.
    I shall subscribe, hopefully we can be a bit of mutual support ;)
    Mortgage Outstanding Nov '16 £142,772.75
    Mortgage Additional OPs 2017 Target £4522.80/ Actual £865.00
    GC Feb 0/£200
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