The Debt Free Birthday Club Challenge!

mooomin

Purpleroses wrote: »

Can I join in too? Have been lurking on this thread so thought it would be better if I just join. I'm aiming to have most of my debt gone by the end of the year and then to be debt free by my birthday in Feb. I'll be 26 then.
Since Dec last year i've paid of £1926.10 so need to put some serious effort in in order to shift it all.
Did one of those ticker things (which i'm finding slightly addictive now lol)

Hello!

Happy to have you along - can you let me know how much you're paying off in time for your birthday and I will then add you to the list.

Thanks!

*Jellie*

laura2481 wrote: »

I know what you mean.. but have you considered clearing your debt with the equity- but then 'repaying' the amount you used into a savings account. Thereby teaching you continued good money habits of budgeting and saving- but not costing YOU any more, nor giving any more than necessary to the credit card folks (or whoever )

Just an idea...

A very good idea!! It would be lovely to be feeling that I was saving rather than paying debts!!
That said in the current conditions I might not be able to sell the house and who knows if I have any equity left!!
Fingers crossed.

Purpleroses

flying_fresian wrote: »

Hello!

Happy to have you along - can you let me know how much you're paying off in time for your birthday and I will then add you to the list.

Thanks!

Thanks. I have £3138.62 to clear.

mooomin

Purpleroses wrote: »

Thanks. I have £3138.62 to clear.

That's you on the list my dear, welcome!

bigbeff

Ok created a ticker and its depressed me. Also I am off on holiday today to Hungary for my cousins wedding, which I really don't have any spare money for, but it was one of those things you feel you really have to go. Have a feeling my good work this month is going to go to waste

mooomin

As long as you're not adding to the debt though, surely your good work doesn't go to waste?

mooomin

Morning all!

It's payday tomorrow so progress report time...

Starting debt = £6,993.88
Current loan balance = £6,374.22
Amount in Instant Access savings = £16.64 - down a lot on last month
Amount in No Access savings = £700

So, by taking off the amount in savings I work out that I now owe £5,657.58

*Jellie*

flying_fresian wrote: »

Morning all!

Almost at the 20% mark- your snail is looking quite contented!! :beer:

mooomin

*Jellie* wrote: »

Almost at the 20% mark- your snail is looking quite contented!! :beer:

According to the Snowball Calculator though I am going to be debt-free one month after my 30th birthday, assuming I am paying £350 per month off the debt (Including my monthly payment)

I shall have to be a Creative Fresian to be debt-free on target...

SarahNeedle1872

flying_fresian wrote: »

According to the Snowball Calculator though I am going to be debt-free one month after my 30th birthday, assuming I am paying £350 per month off the debt (Including my monthly payment)

I shall have to be a Creative Fresian to be debt-free on target...

Lol! Wish mine was one month after..... my DFD date is cureently Jan 11, and my b'day aim is Mar 10!! Got a long way to go!!! Might need to re-adjust my date a little

Sx