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

mel19632

I can't wait to start new challenge either. I am hoping to pay off the rest of our debt within the next year, so I'm hoping it will be a special DFY (debt free year)!

Keep up good work all - lots of good payments going out

brightpurple

Have paid £11,188.24 this year. No where near my £15,000 target, but that really was an unrealistic goal. Looking forward to starting the next challenge, as have learnt a lot this year and believe I can pay off more next time round!Congratulations to everyone for some amazing totals this year. Will be interesting to find out the total amount of debt busting that has been achieved. We're collectively kicking the buts of those credit cards, loans etc. Keep up the good work everyone. Debt freedom is in all our futures!!!

richestorags_2

Ooooooh get me, less than 10k owed!

poohbear59

Well done richestorags, brightpurple, mel, penguin and everyone else.

I have calculated that I have paid off £3460 since I joined you quite late in August I think. We still have a lot to pay off. In fact more than before we started but it has all gone on making a new house next door for us to let and have an income.

I haven't calculated yet how much I now owe and want to try to pay off. My brother is arriving next week to help with plaster boarding and insulating so things might get started again. We could have an income from it by next Summer:)

hypno06

Even if you are a little short of your original targets, you are still waaaay ahead of where you might have been, so hurrah for all payments, large and small!!!

sarahs999

£200 to Abbey.

sarahs999

hypno06 wrote: »

Even if you are a little short of your original targets, you are still waaaay ahead of where you might have been, so hurrah for all payments, large and small!!!

That's true hypno. It can sometimes feel a bit depressing on this challenge as DH and I do try hard and yet we come nowhere near the amounts that some people are paying off, despite having good salaries. I have to remind myself that we've done our best. But I look at what you guys are managing to pay off and it makes me wonder, if you've got so much spare cash power how did you ever get into such big debts? :rotfl:

Seriously though, I do want to crack the rest of our debts next year and I do believe we can do it. This past year we had massive nursery fees for most of the time, which are now gone, leaving us (supposedly) £500 or so better off each month. No idea where that's gone though.

With the 8k left on cards (all at 0% til mid next year) and my husband's 3.5k overdraft (:eek::eek:) it's a tall order, but I really really want to make it happen. Now that my husband channels all his gig money straight into our savings account paying off big chunks has got far easier, so I'm hopeful. Still not going to declare a final total until the end of the month, would love to make it to 7k paid off so got to find that extra couple of hundred somewhere....

Earthstrong

£160 paid off credit cards, can now hopefully increase my payments to debts now I have my tax liability sorted out.

will not reach my goal this year, but I am pleased with my achievements.

mel19632

Final direct debits out this month - 25 to MBNA and £92 to Abbey.

At the end of the month I will be able to make a big payment to Citi - I want to make if £1,174 which will take my debt ex. work loan to £14,999. Another lovely milestone!

hypno06

Right guys - we are now approaching that time of the month - you know the one, where payday is imminent and final debtbusting payments are sent to the various cards and savings accounts.

So.......we start a new challenge on 1st December, and therefore some of you may be ready to "declare" for this current challenge.

If you DO wish to declare your final figures for 2009, please do so in big bold numbers sometime between now and the beginning of December - I will try and update success against the original post on this thread and will count up to see how much we have collectively paid off, just after 1st December.

Remember, there is no such thing as "failure" - be proud of the amounts you have cleared this year, and get ready to join us on the new thread in a couple of weeks.