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

julie2710

Just a quick update on some more money paid off - 687.37 off mortgage balance and 200.69 off M&S Credit card so a total of..........................888.06 off my total:j

In_Search_Of_Me

are we including mort payments? I havent as just wanted to focus on the cc....guess its maybe each to our own eh?!

sarahs999

I thought about including mortgage payments, but then it feels a bit like I'm cheating somehow, as I haven't inlcuded my mortgage in my overall debt. Once I 've cleared all my debts on CC then I'll be brave enough to tackle mortgage thoughts!

hypno06

my mortgage is interest only, so no point in me including it as nothing actually gets paid off each month, despite the huge payment leaving my bank account!

Once my other debt is gone, my mortgage will be getting the hypno treatment!!

I've not paid off anything extra this month as we have decided to go away at Easter and I have to pull together all my scratchcard winnings etc that I would usually pay off the debt, for the holiday.

So my signature will stay stubbornly stuck for a while I think.........but it is good to see other people making good progress!

Keep up the good work!!

greent

I include our mortgage (capital part of payments only) as we started this challenge with around 5k on CC which I knew we could clear if DH claimed expenses (a small amount left to claim still - :mad: grr!!). Other than mtge that's it - so our mortgage is our debt and we'd like to overpay as much as poss (although limited to 10% of bal per year unless we pay a fee)

We have actually increased our mtge since this challenge began to partially fund loft conversion (OH was due to be made redundant in Dec but had stay of execution, so we don't have the payoff we were expecting to fund the building works - but we DO have a regular monthly salary )

I think our target of 15k is realistic - say 5k on CC & 10k on mtge. I don't want to overstretch ourselves by making it more, as mtge payments have increased anyway due to extra finance (kept term the same though) and we are having another babe in May. We have also booked a 3.5k holiday for the summer:o for which I am raising spending money by ebaying/ surveys/ quidco etc (we're 'only' staying in a caravan in France for 2 weeks, but there's 6 of us, in the school holidays and we're taking the motorail cos of the tiny ones - motorail adds over £1k cost, but immensely lessens stress!!) DH's view is that he deserves a holiday after working so hard all year - and, tbh, I agree with him. If we had more debts/ were struggling every month it would be different.

Oh - whilst DHs job is still under threat, we haven't been irresponsible in taking more lending/ booking the hol - we are fortunate that should he lose his job we'd get a payout of around 80k after tax - so we'd pay off the extra finance and hol straight away and still have enough to live on for a while whilst job hunting (obviously wouldn't be entitled to any benefits....) That's not meant to sound as though I'm bragging, I'm just showing the reasoning behind our decisions (thankfully DH has EXTREMELY favourable redundancy terms with his employer:T )


greent

Uniscots97

Another 32.07 paid this morning!

Diana_Prince

£155 off mine this month!

taxi73

Well done to everyone so far.
I don't count mortgage payments either as that'snot in my debt total.

debt_free_me

Hi All :wave:

Got my credit card statement yesterday and had £35 pound put back on it for some things I returned. Paid £41 to card today. Bought some Jimmy Carr tickets on it yesterday though as didn't have enough in the bank and they are hard to get, but my card is 0% at the mo and it will be paid off before that runs out! I haven't used it for ages, been doing really well, but really wanted them and it came to £41.20 so not bad. It does however mean my target has gone up, sorry Hypno can it be updated if you still update them on the front page?

suzialwaysbroke

La, la, la, another payment today, £104.27 off the capital amount for Mint cc.
Just done the MSIQ quiz & I am a MS Genius........... so what am I doing in this pickle eh?

Think I learned it all here, just not in time, ah well.
Have done possibly quite the maddest thing anyone can do in these crunchie times, have taken on bigger business premises at bigger rent, harder work...... am I completely barking? (Answers on a postcard please)

Love Suzi

(That means that cc totals will quite possibly start climbing! I am hoping to apply all I have learned here to making the move as MSE as poss. Please wish me luck)