Newbies' 10K in 2010 Challenge!! :)

Chriscjc2002

Good morning all!

Newbie here…..well, not posted in a very long time!

Been burying my head in the sand with all my debt for too long now and its time I did something to resolve it – its not gonna go away by itself! (unfortunately! )

Built up my debt at uni……I started to need some extra cash so started to get credit cards which the banks gave me even though I had no income! And as I got into more and more trouble the charges started to role in, the rent was getting paid late so I had to get loans to fund these charges and spiralling debt problems…..then it all cannon balled out of control, charges mounted and mounted until it became unmanageable.

Luckily I have a new job which has helped me to stabilise a little, and not fall too much further into debt. All my debt is such a weight on my shoulders and burden on my life I just want rid of it now…don’t wanna feel like this anymore :S

Tonight I will be calculating all my debts exactly and will post these on here later so I have got a clear target – at present it feels like there is no light at the end of the tunnel, I soooooo want to see them numbers coming down . I think its gonna be around the 30K mark :eek:.

Also having been inspired by these challenges I want to set one for myself –

£10K in 2010 (The 10 in 10 Challenge lol)

I think this will take a lot of hard work but I want an attainable target J

If anyone is thinking of this sort of target for 2010 or thinks this is a good idea please post on here, could do with the support :T

Thanks guys and happy saving

Chris

Tixy

Hi Chris and welcome (or welcome back)

Good luck with totalling up your debts - its a scary step but necessary if you want to stand a chance of tackling it (and working out whether paying off £10k is do-able).

Have you also got an up to date statement of affairs? (income & expenditure). I'd suggest you prepare this as well to see how much you currently have spare per month to pay off your debts. And if you post it on here you may get lots of suggestions as to how to make savings to help you achieve your challenge.

Good luck

wannaberich1

Hi Chris,

We're aiming for something similar in 2010 too.. So think it's a cracking idea!!

Good luck - hope you achieve it, which I'm sure you will, this site is amazing for inspiration and ideas

xx

Chriscjc2002

Hi guys, thanks for your replies

Tixy - I know im not looking forward to doing it....but I know as rough figures its in region of £30K, but gonna get it all down tonight. Im still paying out less than I earn at the moment, but only by a little.

Think im going to need to tighen up and re-juggle payments a little to see if i can get day to day payments to balance, then its a case of knocking that 10K off the top!! Think im going to have to use every trick in the book... work weekends, evenings, car boot sales, pay per clicks, ebay, anything i can to make a bit extra cash toward my 10K total.

Also im trying to get approx £4K back from lloyds in bank charges...I wont include that in my 10K though

so fingers crossed on that one.....got to read into that a bit more, looking to prepare hardship forms...

Iv got to do this or im going to go insane, its such a horrible feeling as you all well know, i feel chained down - I thought my 20's were supposed to be free and good times - doh!!!

Keep me posted and how your getting along Wannaberich1!! .....we can compare tactics hehe

x

Chriscjc2002

Tixy - so can I just upload my SOA to this page or is there a specific place for that?

Thanks

Tixy

Hi Chris

Yes just post on this thread and you'll get lots of suggestions from the regulars on here.

sallymander

Hi Chris can I join in too please??? I was just thinking last night "I wonder if someone will start a 10 in 10 thread" and it looks like you read my mind.

I have 24.5K to pay off so will be herea while but to aim for 10k will be a nice dent in it!

As for a SOA, I may be wrong but I think you can post one on this page, but Im just wondering if it may be better as a separate thread under the title *SOA* and then all the experts at SOA's will take a look whereas they might not spot it in this thread IYKWIM!

Whoop whoop Im looking forward to getting my teeth stuck into this challenge *she says as she toddles off to add it to her sig* Well done for setting it up Chris :j

sally x

Ames

Do you have to aim for 10k or can it be less?

OP, I could have posted that myself, about being a student and building up cards and loans.

xEMSKIx

I'd love to join in on this!!

I have recently put my debt onto paper so know exactly how scary it can be! But I must admit - my head feels a bit clearer after seeing it written down in one place and not swimming about in my head!

my debt is around the 10K figure and reckon it will take around 2 years but if we can all chip in with suggestions and support . . . who knows?!

rictus123

Aiming to save £10k maybe

rictus123

Debt is about £1750, need to get rid of that first though!