The A Fixed % of Money Left After Bills Goes On Debt Challenge

**Kat**_2 · 22 November 2010 at 2:24PM

Hi,

**Changed as suggested so you choose your percentage**

I notice a lot of the challenges revolve around values of money - the £10 a day, £2 savers, £20k, £10k etc. I know there are a lot of people (me included) who don't have that sort of money and those challenges can be quite tough.

Welcome to the very long titled [STRIKE]35%[/STRIKE] a percentage of money left after bills goes to debt challenge. This basically means, whatever money you have left after you bills goes out - [STRIKE]35%[/STRIKE] a percentage of it is to go against your debt (rather than going out, presents, etc).

This could be quite tough but we don't know until we try. Please post if you're interested and I will add your names and percentage:

1. **Kat** - 50% - reducton of debt this year
2. Woowoo - 66.5% of wages
3. Happytogetdebtfree -
4. Becci - 60% Debt reduction
5. If My Pennies Were Pounds -20% Wages
6. L-M - 50% money after bills
7. Lemon Tree - 50% wages
8. EB69 - 80% money after bills
9. starnac - 100% of debt by December 2011
10. frasersmum123 - 100% of debt by December 2011

**Kat**_2 · 22 November 2010 at 2:32PM

Worked out mine's £183 - I would hope to beat that personally but it's a goal

Woowoo · 22 November 2010 at 2:41PM

Hi Kat

I will look at mine and figure out a percentage when I get back to work, am currently at home on lunch trying to resist having a snooze!

Happytogetdebtfree · 22 November 2010 at 2:47PM

Ive subscribed i will submit a number later after discussion with hubby

xxx thanks for the thread are we aiming a close dec 2011 ? or just when it ends ?? speak soon xxx

Kepp · 22 November 2010 at 2:53PM

Hi Kat,

Followed you here as promised!

I'm going to go with the percentage I'm going to reduce my debt by if that's ok?

My income from having 5 extra jobs is a bit all over the place and not fixed so think this will be easier.

If I keep going at this rate I should have reduced my debt by a further 48% by Dec 2011 so to make it a challenge I'm going to aim to reduce it by 60% instead

If_My_Pennies_Were_Pounds · 22 November 2010 at 2:54PM

Just a quick question, are you working out your percentage from your salary before all bills or is your percentage based on money that's left after bills?

Also can I request that this can be a saving or debt busting challenge?

**Kat**_2 · 22 November 2010 at 3:03PM

Hi all,

Thanks for joining - I will add you to the list.

Mine is a percentage of what is left after paying bills, however, it is a base which you can mould to fit you - Becci is thinking of a percentage debt to pay off and yes savings rather than debt busting is more than fine (wish mine was savings tbh lol).

We can do it for the month of December for now and then if it goes well then we can have it for next year too

Happytogetdebtfree · 22 November 2010 at 3:03PM

i think we can make it any challenge you could say you want 10% of your salary to be savings i might aim to get rid of all unsecured debts so il have to do the maths later i may declare an amount and show the percentage i suppose we can just be a challenge thread lol i know we all have the same goal of reducing the numbers or for you savers increasing the numbers hehe xx

**Kat**_2 · 22 November 2010 at 3:08PM

I totally agree - it's quite open to ideas but I think it will make it easier to stick to xx

If_My_Pennies_Were_Pounds · 22 November 2010 at 3:08PM

Ok well for the trial run I would like to be a debt buster please, then hopefully from the new year I will be a saver!

How are we posting our progress? Weekly, monthly? I take it we will post up what our total is and whether we met our % or not?

Need to think of my % though...

**Kat**_2 · 22 November 2010 at 3:10PM

Hmm, weekly?

The A Fixed % of Money Left After Bills Goes On Debt Challenge

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The A Fixed % of Money Left After Bills Goes On Debt Challenge