A payment a day............

Bowski_1011

Oh no, I've been really naughty and not paid any payments off my barclaycard for AGES! I have still been puttin money into my savings account tho so that'll have to do me for now. It's money I wouldn't have saved if it wasn't for this thread. I have been off week for over a week and been away so thats why i've not been sticking to it. Back to normal on thursday tho as I'm back to work so i'll be back on the wagon.

cherry_red_2

What a fab challenge! Would like to join please.

Will kick off with 3 pounds off of my Virgin card - 5313.04 in total!

gillypen

todays payment is in the piggy but that will be the last till payday on fiday

cady

Different_Corner wrote: »

Cady
That's the way I understand it. I try to pay CC as soon as bill comes in to lower the next months interest.

Thanks i thought it was like that but not 100% sure if that was good or bad lol

lunar

Still been doing the £5 a day payment even though ihavent checked in for a few days! the payments are starting to show up on my internet banking. well done everyone for all the extra payments.

heppy23

I get paid weekly and transfer £55 a week into a spare current account. From there I having standing orders going to my different credit cards each day (one account per day). This means that every day I owe a little less.

One other method I tried was to set up a bill payment to a debt and every night look at the main account and transfer enough money to take the balance down to the nearest £5. So if the account balance was £301.68 I would transfer £1.68.
You really don't miss little amounts like this but it's great when you get a card statement and there are so many a payments on it! Never got pulled up by the banks for doing it.

Other method I tried (and got bored with but it might appeal to someone!) is to set up a standing order for £10 per week to a debt and then have a bill payment to that debt. Every week pay 1% of the balance. You can chip away at the balance quite well and you get a feeling that you are getting somewhere but also paying less each week (although it would be better to work out that 1% from the first week and pay that amount each week ongoing).

heppy23

Another hint (if you are using software to track your finances) is to use the pence amount as a code for the day of the week.

For instance, if I had two standing orders going to the same debt each week then the Monday one would be £10.01 (1st day of working week) and the Thursday one would be £10.04 (4th day of working week). This helps you keep track of which payment is which. You can also keep an eye on how long bacs is taking to get the money across.

falady

hello everyone,

I'd like to join this challenge please :j . I want to make some payments towards my MBNA credit card (balance at £8200). Have just paid £10 off . Will update my signature.....

Thanks,

Ali x

icka

Hi Guys

Just paid £10 off my loan not £1390 and £5 to my savings total £15

This is a fantastic challange

:j

angelflower_2

not been a bad day really for making extra payments. £45.60 towards the mortgage arrears bringing this up to £140 which would have otherwise remained unpaid. Went to bank today to pay this in but they shut at 4!!!! Drove all the way into town to another one but got caught in traffic and missed it too. Going to get to bank at lunchtime tomorrow as I hate it sitting by me. Will start gathering the next lot tomorrow.

Have also paid £10 to my council tax arrears online. So my total amount paid to date is £150.