SazM's loan busting mission

SazM030306

Not much to report until the £136 SO goes in on the 16th! Can't wait! LOL
Still on with trying not to spend much :-)
xxx

barrys-lass

WOW saz you are doing so well, keep it going x

lunar

If your monthly loan payment is £136 then that saving of £11 per month is almost a full months loan payment over a year. well done, all these small things really start to add up.

SazM030306

lunar wrote: »

If your monthly loan payment is £136 then that saving of £11 per month is almost a full months loan payment over a year. well done, all these small things really start to add up.

Actually it's better than that Lunar! The loan payment is £229.46 which goes out by DD every month, the £136 is my extra payments going into loan busting account to save up to pay a chunk off the loan! I added the £11 to the £125 I originally had spare :-)
I'm really enjoying this LOL

Thank you barrys-lass too :-)
xxx

SazM030306

I went out last night with the girls for a meal, I drove, and only spent £20.50!! I had budgeted £30 so I was quite pleased with that. Even better I don't have a hangover this morning!

Lemon_Tree

hi sazm, just found your new diary, i've finally caught you up and slayed my overdraft and like you i'm now ready to target my loans. Well done for clearing yours!
I've 3 loans in total, one of which is at 0% so will be the last one i tackle. the one i'm going to tackle first has 26 months left on it and hasn't been front loaded with interest, and i've worked out i should be able to pay it off in 15mths if i save what i've been using to pay off the overdraft. the second loan has 37mths to go, but i've also worked out that will be clear in 25mths if i snowball what i free up from the other loan. the final one at 0% has 53 mths left and i'm planning on clearing that in 31mths, so that's my cunning plan. Sorry to have bored everyone with it, but i'm worried that i won't be able to work so well at saving as i did when i could see the immediate reductions on my overdraft etc.

SazM030306

Well done LemonTree!!! That's fantastic :-)
I agree is is more motivating when the end is in very close sight, but keep up the good work, we can encourage each other xxx

Lemon_Tree

i've subscribed to your diary to keep track, and i'll have to think of another way of recording my progress on my signature.

SazM030306

Well I've done quite well so far this week with the weekly spend challenge - £17.36/£30. If I don't spend anything else tomorrow I'll put the £12.64 in the LBA.

We actually have £60 a week spare so I've split that £30 each for me and DH. So he can do what he wants with his share. If he hasnt spent it I'll encourage him to put that in LBA too!

Looking forward to the chunk going in on the 16th.

xxx

Lemon_Tree

that sounds like a really good plan i hope he falls in the with the plan.