NEW - pay off £20,000 (ish) by Christmas 2009

theskintfamily

paid another £230 off today - minimums on the cc's and my dh's payplan. plan to clear the A&L CC this month, £355, but need to wait until my bank account settles down (usually around the 10th).

have also sent a phone off so will get £9 for that, £30 from music magpie and £30 from quidco, so that will all be taken off my Mint card which is my next target... i feel a good month coming on!!

kashton_2

Paid £50 to barclays and £100 to ryan air, my last payments this month, emptied the savings account to do this so now have a big fat ZERO in there, oh well, its better to have it off the debt huh?

Hypno, sig updated for the challenge so far, roll on feb, will be a good month for me i reckon!

penguin83

Wow well done Floxxie! Have just made my final payment a day for January so my total paid off comes to

1827.18 in January making a total this year of 2352.18 - not too far behind target now! x x

lemma1968

Only £24 to MBNA today.

I have updated my sig for the totals this month.

Will not be anything like that in February sadly, but so long as the debt is going down that is all that matters.

Have a happy (if not cold brrrrrrrrrr) weekend.xx

sarahs999

Floxie that's astonishing!

So many people are paying off such huge amounts that I really want to ask this question, please don't take it the wrong way - if you can generate so much spare cash, how come you have any debts at all?! I've been trying to think of a way to say that without sounding spikey, it's really not at all, it's genuine curiosity. I've been really scrimping to make extra payments, and we have a pretty good household income (2x fulltime salaries).

And before anyone asks me back, my debt came from 13 months of maternity leave to look after my premmie son, and then supporting my husband through two years of teacher training....!

greent

sarahs999 wrote: »

Floxie that's astonishing!

So many people are paying off such huge amounts that I really want to ask this question, please don't take it the wrong way - if you can generate so much spare cash, how come you have any debts at all?! I've been trying to think of a way to say that without sounding spikey, it's really not at all, it's genuine curiosity. I've been really scrimping to make extra payments, and we have a pretty good household income (2x fulltime salaries).

And before anyone asks me back, my debt came from 13 months of maternity leave to look after my premmie son, and then supporting my husband through two years of teacher training....!

Our debt as such was my husband's CCs built up from expenses unclaimed in over a year - extremely stupid of him, I know! All bar a couple of months are now claimed - hence the amount we've paid off. I think there's about £300 left outstanding now - gone next month. The only other debt we have is our mortgage - which we overpay a weeny amount each month, but I'd like to overpay more - and this thread gives me the impetus to :-) We are also having some expensive building work done on our house (about 40k inc decoration) and I play on financing a 1/4 of this through income (however obtained) We've also booked a holiday costing 3.5k which is being paid for out of income (savings having been plundered for building work)

I should point out that we have 1 salary and 3 children and another on teh way. Our only income is DHs salary and child ben.

greent

millionaire_in_training

OMG!! Some of these totals are amazing. I have paid off £551.22 so far and am well chuffed with that tbh. Keep it up everyone. x

Guesty6

Paid off another £1086.94 in total towards my 3 remaining Debts.

Total for this challenge is now...

£2860.94

Keep up the good work all!

Floxxie

sarahs999 wrote: »

Floxie that's astonishing!

So many people are paying off such huge amounts that I really want to ask this question, please don't take it the wrong way - if you can generate so much spare cash, how come you have any debts at all?! I've been trying to think of a way to say that without sounding spikey, it's really not at all, it's genuine curiosity. I've been really scrimping to make extra payments, and we have a pretty good household income (2x fulltime salaries).

And before anyone asks me back, my debt came from 13 months of maternity leave to look after my premmie son, and then supporting my husband through two years of teacher training....!

That's a very good question! My debts come from when we bought our house 5 years ago and several relatives help us with the enormous deposit we had to get together. The debts were interest free but family politics has meant we had to pay them back at the end of last year which has led to one hell of an overdraft.

The fact that I can see the debt motivates me to get rid of it and I follow the money-making ideas on this board,mystery shopping, eBay and match betting. Although I think I am lazy when I actually look at how much time I invest in getting money together, I work long hours. Prior to this debt, I had paid off previous debts and had minimised our outgoings, saved what I could of my maternity allowance, followed the money-making ideas and either saved it or paid some of it off the mortgage.

Just to put it into perspective - my OH earns £30k p.a., I no longer have a job and I have 3 children at home.

However this reduction (since 1Dec) is a one-off and will not be repeated to that level again during this challenge! :rotfl:

Floxxie

hypno06

sarahs999, my debt (over 100k of it at its worst) came about initially because my house fell down and needed to be rebuilt.....we couldn't borrow on the mortgage to do the work so had to use credit cards and loans to fund it :eek: