Do you pay a set amount off debts each month?

Zabl

Just wondering do people pay off a set amount each month or do you differ from month to month?

Am just setting up payments ready for payday, and am only paying £250 off this month as need money for holidays [booked pre-lightbulb moment!] - feel like this is not enough

Next month I will be throwing every avaliable bit of cash towards debts then to make up for this month - :mad:

mintymoneysaver

I pay off as much as I can.We have a credit card that we put birthday presents, things for the family on.That gets cleared every month, the bills get paid, we get pocket money and then anything left gets thrown at the debt! ( Won't be much this month!)

dinkylou

£250 are my fixed payments but then I try and pay an extra £100 or so on top of that.

Dont worry about this month too much but then after the hol, throw all available at the debt.

ard123en

im now out of debt but can remember what it felt like

remember its sometimes not just how much but which debt gets it

the best advice i can give is to snow ball the debts ie pay the most off the highest interest first and service the rest until you only have the low interest stuff to pay off

worked for me

arden

Zabl

Thanks for making me feel better as was feeling a bit of a failure this month, in an ideal world i would have had £120 to pay off my OD2, but car needed a fix...so that went

At the mo, all of my debts are low interest, i'm just gonna try and get the lowest balances paid 1st and then card tart my CC for 0%. Also done my DPA letters for Bank Charges so will look forward to getting them back soon, fingers crossed!

Thanks again

lynzpower

I pay 350 a month, and OH owes me money so hes paying me off minimum 20 a month which is going direct to my chopped up credit card. If I have anything left, I pay it to my highest interest, which is my b/card at the mo, but soon will be my student loans :T

owessomuch

I have set amounts most months but if there is anything spare at all (not very often, believe me!) then I try to put the extra off my credit card.

I've just paid back £100 that I owed to my brother and I know he wasn't desperate for it and I could have put it towards my CC but I hate the thought of owing money to family. Would rather owe it to the bank! x

david_hellier

If you have a fairly steady income it's usually best to pay off loans/cards at the same amount each month. It is fatal to pay the minimum payment on cards; this is only in the credit card company's interest.

tesuhoha

I am paying £130 a month off one debt as that will pay it off in time for the end of the 0% limit. Then i pay between £100 - £200 off all the other ccs, they are all on 0% at the moment. In all its about £600 per month.

postingalwaysposting

I am trying to throw as much as i can to my debts, but cc1 has a min payment taken by direct debt each month and cc2 gets all my avalible money. This month (only 9 days into my month) i have payed £109.00 off my debts, but once all my money clears for my ebay auctions they will go to the debts too

*pre lightbulb momment (14/5/06) i used to pay the min amount and pre debt (12/3/06) i used to clear my cards every month*

beanielou

I pay the min pay & then if anything left over(HAHA) I pay that to debt with highest interest