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

mel19632

£250 onto my MBNA card... takes me to total paid of £580

babyhead

Just checking in to keep my spirits up!
Everyone is doing really well. Keep it up guys/gals

paybacktime2008

Got my bank statement today. £78.17 paid off. So total now £505.32.......thinking I might actually be able to do this now.

hypno06

See what you can all do with a little bit of effort and focus :T :T :T

We CAN do this - just think how fab it will feel this time next year when our debt is much reduced, and in some cases gone completely

In_Search_Of_Me

Just paid 50 extra off and then got home to a reminder re car tax at end of dec...never ending eh!

hypno06

There's always something, isn't there ISOM......s*ds law working its stuff :rolleyes:

In_Search_Of_Me

yes always but definately improving as before wouldnt have paid the extra off mid month so ahead at least before I get behind again!! Do you (or DD!) know the answer to the spreadsheet ? I posed?

MrsMoney_3

Another £126.66 regular payment to my loan.

The stuff I listed on eBay finishes tomorrow so should have some more money then.

julie2710

Bit of a nuisance was hoping to clear a big chunk by xmas but the endowment co have lost my forms so have got to send new ones in to get my money:mad: Regular payments should start coming off soon so will update totals within the next week and will use my 2 coins at end of the month to take some off ccards.
Feeling a bit useless at the moment as a bit of a slow start but will get there!!!!!
Well done everyone else.

Puzzledbubbles

In_Search_Of_Me wrote: »

yes always but definately improving as before wouldnt have paid the extra off mid month so ahead at least before I get behind again!! Do you (or DD!) know the answer to the spreadsheet ? I posed?

I think i might have the answer isom - not sure on the correct way to post - but if you set column A as the month, then column B as the start amount, in column C put =B2*16.57%/12 (just change the percentage after the * to your annual interest rate) then in column D put your monthly payment - in Column E put =(B2+C2)-D2

Then in the next row down, column B put =E2 that way the start figure for the next month is the end figure for the previous month.

I think thats what you wanted - if not if you pm me then i can have a go at setting you up a sheet as a template

EDIT: just realised you only wanted to know the bit without the interest calculation - just remove column c and shorten the formula, hope that makes sense - if you want to work it out for the coming years just fill down