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

Double_Trouble

sarahs999 wrote: »

OK, I'm feeling grumpy. I just balance transferred to Abbey from Cap one, which is great. But. In the past month we've put over £1,000 onto our debt through doing up the bedroom, extra holiday expenses, birthday celebrations etc which was a conscious decision but it still feels nasty now I'm looking at the figures. My DH is doing masses of extra work in the next couple of months and reckons there will be about 4k he can throw at the cards, which is nice although realisitically I reckon 3k because things never work out exactly how you think they will.

SO I've started to refocus my aim. At the beginning of the year I had about £11k on cards and I wanted to clear it. Now we have just over £7k again, it's clearly not going to happen by Christmas. So I think I might turn my attention to our joint account, which is generally overdrawn to the tune of £1,000 each month. I think that, given that I've now got two 0% credit cards that won't run out until well into 2010, I should try to clear our overdrafts instead. I've always resisted doing this because it's so easy to go back into overdraft land, but I've decided the way to do it is to save up until I have enough to throw at the account to clear it, just before payday, so we go completely into the black and start the month as if the money has been paid in to an account that was at 0.00. Then we know what we're playing with and know we must just NEVER go into the overdraft again, and if we do we need to rebudget. What do you think?

Sounds like a plan go for it girl :j

DTxx

misselvis

have done my maths and so far have paid off a total of £5275 off my debts so far this year. the challenge is to pay off £10000 this year and as my mortgage ends its fixed period I am planning to overpay my mortgage by £400/ 500 for the next few months so will hopefully reach the target. I have snowballed vanquis's payment to additions so looks likely to clear that by the end of the year and I just want to say thanks for viewing my ramblings. just by reading over previous entries and reading other's journeys has been so inspiring:p

mel19632

Well done! Great total MissElvi

julie2710

Another £200 off the credit card - just waiting for the mortgage statment to see how much has come off that again!!!
Things are a bit slower now than earlier in the year due to massively increased childcare costs now - Still not doing too badly though!!

Batfink

sarahs999 wrote: »

SO I've started to refocus my aim. At the beginning of the year I had about £11k on cards and I wanted to clear it. Now we have just over £7k again, it's clearly not going to happen by Christmas. So I think I might turn my attention to our joint account, which is generally overdrawn to the tune of £1,000 each month. I think that, given that I've now got two 0% credit cards that won't run out until well into 2010, I should try to clear our overdrafts instead. I've always resisted doing this because it's so easy to go back into overdraft land, but I've decided the way to do it is to save up until I have enough to throw at the account to clear it, just before payday, so we go completely into the black and start the month as if the money has been paid in to an account that was at 0.00. Then we know what we're playing with and know we must just NEVER go into the overdraft again, and if we do we need to rebudget. What do you think?

Sounds like a very good plan to me.

I'm just building up to ringing American Express to cancel my Platinum Card. I found spending on it far too easy, even though I doubt anyone in a shop gives a monkeys, I feel quite posh using it too! It has to go though, I lack will power enough to keep it.

Hope you have a nice week - lots of money coming in, not so much going out and lots of debts reducing.

x

mel19632

£93 to barclaycard and £80 to citicard today.

Good weekend for everyone?

Double_Trouble

Quiet weekend Mel

£84.97 to Citibank £120 to Mint and £145.95 to HSBC for me today making a total of £350.92 off the debt going to adjust sig now :j

DTxx

richestorags_2

HFC loan payment for me so updated sig. Quiet weekend (except screaming 7 week old daughter!)......

sarahs999

Busy weekend here. Had my teeth whitened (I know it's not moneysaving but it was actually very cheap, and they look great!) and went to Whitstable, where I entertained ideas of buying a little cottage and retiring. Of course at the age of 38 and with a family to support that's not happening any time soon, but it was a nice thought. Then a five-year old's party in teh afternoon complete with bouncy castle, barbecue and pumping sound system...

Clipper235

Can I ask how you are paying £'s off the debt one week and then another set of £'s off of it the next. Are you selling things?