Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • emslou88
    • By emslou88 6th Sep 16, 3:47 PM
    • 20Posts
    • 30Thanks
    emslou88
    Clear By End Of Year
    • #1
    • 6th Sep 16, 3:47 PM
    Clear By End Of Year 6th Sep 16 at 3:47 PM
    I have hovered in these forums on and off for quite a few years, dipping in and out when things get tough and I need some inspiration to make ends meet. Today however I am fully committed to getting rid of this chain around my neck once and for all!

    I have recently been made redundant and whilst it is hugely inconvenient on the money coming in front, I have till end of September before I really need to start panicking. Obviously I am looking for a new job, however in the newly found spare time I have I would like to do everything and anything I can to eliminate some of these balances!

    Whilst I know this total isn't a lot in comparison to some others, I have been in debt for the entirety of my adult life. With nasty Payday Loans lingering and a nasty cycle of paying these back resulting in no money to get by on for food etc and then needing to re-borrow. I would like to break the cycle and get rid of these first!

    So my plan of action is:
    1. Sell Sell Sell - list everything and anything I can to create a bit of extra cash
    2. Matched Betting - I read a guide and have started dabbling

    That really is as far I have got ..... any suggestions from you guys would be much appreciated!!

    Don't know if anyone will read this but if you do and have any ideas to make a bit of extra income whilst at home, my ears are listening!
    Sept 16 - £3799.07/£3683.06-3% ---- CC £377.77 - CAT £450.68 - CC £125.60 - CC £220.68 - PD £89.94 - PD £165.34 - PD £422.40 - FAM £280.00 - BANK £753.50 - MOB £797.15
    Target One - Mr Lender £165.34/£50 1% Target - £116.94/23%
Page 2
    • emslou88
    • By emslou88 19th Sep 16, 2:25 PM
    • 20 Posts
    • 30 Thanks
    emslou88
    I have had a look at my budget for the upcoming month and getting to below 3K shouldn't be a problem with a bit of determination. My income is going to decrease as of next month so now really is the time to put any money I do have against the debt. I would love to be able to achieve more if possible and that will be down to the other little bits that I am doing to gain some extra income. £800 is the number to hit without fail 1K is the aim ..... thats going to be a big push!
    Sept 16 - £3799.07/£3683.06-3% ---- CC £377.77 - CAT £450.68 - CC £125.60 - CC £220.68 - PD £89.94 - PD £165.34 - PD £422.40 - FAM £280.00 - BANK £753.50 - MOB £797.15
    Target One - Mr Lender £165.34/£50 1% Target - £116.94/23%
    • emslou88
    • By emslou88 20th Sep 16, 11:08 AM
    • 20 Posts
    • 30 Thanks
    emslou88
    10 days to go!!
    I can't wait any longer till payday!! 10 days and counting. I am so excited to be able to pay a big chunk off!! I feel the desperate need to do some bits in between though! I really would like to complete the 1% challenge before the 30th. I am spending the morning on swagbucks to see if I can make it to a withdrawable amount .... if that is even possible! It seems to take ages to build up a balance. Any tips would be appreciated. I have £3.40 in another survey site, I need £5 to withdraw but the surveys seem to have dried up! I will keep checking back. Tomorrow will see £10 secret shopper and £19 ebay clear so there is 25% for the challenge straight away!!

    I will aim for a NSD today and tomorrow. I will be working so that should keep me out of trouble.

    I have had a quick look at YNAB, this looks really useful and I think I will at least make use of the free trial. I have got my own budget spreadsheet set up but really like the idea of putting in goals.
    Sept 16 - £3799.07/£3683.06-3% ---- CC £377.77 - CAT £450.68 - CC £125.60 - CC £220.68 - PD £89.94 - PD £165.34 - PD £422.40 - FAM £280.00 - BANK £753.50 - MOB £797.15
    Target One - Mr Lender £165.34/£50 1% Target - £116.94/23%
    • emslou88
    • By emslou88 22nd Sep 16, 10:19 PM
    • 20 Posts
    • 30 Thanks
    emslou88
    Mid Week Update ...
    Wow!! What a busy couple of days!! Been hard at work in the new temporary job. Money coming through which is fantastic and no time to spend unnecessarily which is even better!!

    I have managed to make some extra payments on the payday loan account which means I now stand at 23% Its not as much as I planned for but an unexpected bill came out of the bank and swallowed some of the budgeted funds. Never mind the balance is decreasing which is the main thing! I think there could be a real chance of me hitting below the £50 mark before payday. This will be GONE by October, I can believe it! I have had a payment plan in place for 666 days No interest is being charged as they froze it however it just adds to the weight around my neck!

    I have already thought about which one will be next to go ..... I know I should be targeting the couple with interest but there is something so motivating about crossing the smaller ones off the list! They will be much easier to pay a % more regularly than the large ones as well. Is that a bad way of thinking?

    So plan for rest of the week. Keep doing the same, not spending, earning and repaying!! I am receiving tips at the new job which is perfect to put towards the debt however I dont have time to put it in the bank to make the payments!! Must make an effort to get some in there so I can get that balance as low as possible by next Friday £40 is the target!
    Sept 16 - £3799.07/£3683.06-3% ---- CC £377.77 - CAT £450.68 - CC £125.60 - CC £220.68 - PD £89.94 - PD £165.34 - PD £422.40 - FAM £280.00 - BANK £753.50 - MOB £797.15
    Target One - Mr Lender £165.34/£50 1% Target - £116.94/23%
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

187Posts Today

1,674Users online

Martin's Twitter
  • If you know you're bust you must declare it asap. So no firm ever says "yes we plan to go insolvent". So you never? https://t.co/w8aIKOqHzq

  • Some people misreading... it's NOT the rumours of insolvency of the Monarchy! Its Monarch airlines (again tho I've no idea of its validity)

  • Also re #monarchinsolvency rumours it's important to state Monarch are firmly denying it... https://t.co/N27MENRjY9

  • Follow Martin