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

babyhead

£1661.53 paid since this challenge started. Which I am pleased with as its DECEMBER! woop woop!! Signature updated with totals too.

From now on this challenge is going to be hard - have a bit of "lung trouble" and was on long term sick. Tried to go back to work - realised it isn't worth the risk to my health and so have left. Difficult decision but is totally the RIGHT decision. So have lost a wage (I still work PT from home though).

BUT the fact it is going to be a bit harder - only makes me want to do it more at the moment! Bring on 2009...

hypno06

I know what you mean babyhead, about being even more determined when the goalposts move! Good luck!

millionaire_in_training

Hypno can you add me to your list please for £8k have paid £216.18 in December. Thanks x

lauradora

happy new year everyone...just checking in while I get all my new year totals, spreadsheets etc ready!

None of my payments have gone out today wioth it being BH so i'm a little puddled!

BabyBetty

hi, I have just found this thread and am quite excited about the challenge.

My debts are standing at £32,000 :eek: (student loans £12,000, CC £5,076, Halifax loan £10,000, smaller debts £5,000).

Started at £36,000 and only just started to get serious in November '08 and cleared in full £1,028 on Barclaycard, £1,000 overdraft, £2, 600 on Alliance and Leicester card (£2,573 to go will clear this at end of Jan '09).

I am hoping to stay motivated :T by joining this challenge and clear £20,000 by the end of the year.

I am so excited about getting rid of the debt - and not feeling like a slave to my debt.

I forgot to add the other £3k if student debt!!!!

Betty

lauradora

right the payments seem to have gone out on the midnight express so here goes.

My debt at the beggining of this challenege was £11708.19.

Been doing some sums and to pay this off by xmas 09 which is 357 day would take payments of £32.80 a day

Or divided into 12 months that would be £975.69 :eek: per month:eek:

So today my loan payment has now gone out £209.87 that brings my loan total to £9034.41
so so far i have paid off £209.87 from £11708.19

all spreadshhets etc not ready yet but on my way there!

hypno06

My 1st Jan payments have now gone out, and my debt has reduced (after interest) by £687.99.........:D

jexysbird

Hi,

Started my challenge yesterday to pay £20k off by Dec 31st. Good start as £366.18 op on the mortgage.

We cleared the credit cards before Christmas, they had about £500 on each, and hubby was paid just before Christmas and that hasn't been touched yet, so we are starting the new year with a clean slate and have said unless we need to pay for something over £100, everything will be paid in cash or debit card as it is easy to let credit cards mount up.

Luckily, we have only our mortgage of £66000 as our main debt, but it is still something that hangs over us. We want to pay this off in 3 years, all except £1 of it! as we'll incur about £4000 early repayment fee and its also handy if we need to move house again, so that we haven't got arrangement fees etc.

I think all of you who have all these credit card, catalogue, loan debts and are making a point of paying them off are all doing really well - it doesn't matter how small amount you pay off, it all counts towards your final goal, so just keep going - Well done!!:T Also, you give me a lot of money saving tips that I hadn't thought of, so thank you!

mummy2mygirls

paid a £70.80 towards the debt today all on 0% so thats going of my total now!! Love being able to update my sig.........:o

Paul843

December's payments came to a total of £1033.09 for me, hopefully now xmas is out of the way I can really start getting the total down

Can anyone tell me more about the spreadsheet everyone is on about please, and also a bit about what everyone is doing to up there income i.e scratchcards etc

There is some very impressive totals for December to say that it was Xmas so keep up the good work everyone and lets hope 2009 is prosperous for everyone :beer:

Many thanks

Paul