Newbies' 10K in 2010 Challenge!! :)

Nottoobadyet

I'm all for changing the eating habits! One of the big things that stopped me from paying back my debt faster was the amount I've spent eating out. I've reduced this a lot by becoming a passable cook, and once Im a good cook problems are solved! Weight isnt much of an issue for me, but healthy, made at home stuff is always good.

Beltona

I'd like to join as well if thats still ok?

I've never saved for anything before and after having my LBM just before Christmas (rotten time for it to light up!) and realising we are over £3,000 in debt with nothing to show for it, I thought we need to do something major!

I've put down for extra shifts at work, barred all take-aways, and will now only shop with cash for things we really need not just want.

It will be a massive challenge but if we don't do something we will start sinking fast!

Good luck everyone and keep the tips coming!!

s0237276

i'm getting quite nervous about this challenge now - its just occurred to me that this is a vast amount of money to try and save (i'm saving for house rather than paying off debt) but i've also realised that there's no way i'm going to be able to buy anywhere without a much bigger deposit so its got to be worth a try.
I'm not in a job where I get bonuses or can work extra hours - anyone else in a similar position? how are you going to get the extra cash?

Boomdocker

Hi S0237276,

Don't be nervous. Have you read the whole thread, might be worth doing as there are lots of hints and ideas for generating extra cash like ebay, amazon, boot sales. Maybe a skill where you can make things to sell.

Or how about looking at your current spending, can you trim anything and generate a saving here? Do you use coupons, use one and bank the saving. Do you save boots, tesco, nectar points, save them and when you redeem them you could bank the cash equivalant that you would have spent. Do you have a spare change jar, that can add up quick.

You'll find a way that suits you and your circumstances. I won't get anywhere near 10k either, be glad to get 3K. Aim high, you never know what will happen.

Good luck.

shadydaz

I have been admiring my D Egberts coffee jars far a long time. I washed one out the other day and am going to do a sealed pot challenge. I reckon if I can fill it with £1 coins it will be worth about £300ish. I started today and put £2 in it. I just have to keep it away from the missus so it will have to be hidden somewhere. I also have a penny pot with w current balabce of around £30. Whence full it will be deposited into BS.

The DW wants us to try and stop smoking in the new year. I stopped last year for SEVEN months and started again like a pillock. I know if I can just get to the magical one year mark I will be free from the evil weed forever. It should save us about £140 a month!! Enough to pay for a cheap holiday or two during the course of next year.

I have updated my sig again as deleted original targets for some mad reason. Must have been having a moment...

kate_pixie

Hey all, getting very excited about this challenge now. Can't wait for the New Year (and an end to all this expensive socialising) to get here.

Someone asked how we're intending to generate all this cash.....well I've joined a thread called Loose Change Pays off my Debt (or something like that). I intend to empty my wallet of anything below a £1 coin every night and cross my fingers that at the end of the year my coppers amount to £10k, LOL.

Good luck everyone xx

teabythesea

I signed up to become an avon rep around my uni and the surrounding residential area hopefully! Apparently there's no-one who does avon round there so it's looking good!

angelbot

I to am going to join, we have just over 8K to get rid of (overdraft and loan) and would like to do it by this time next year as hoping to try for baby number 3 around that time so would be one less things to "worry" about. I havent had a search yet but is there an easy way to find out which would be best to be paid off first? thats prob a realy daft question and it will all be to do with intrest rates and things wont it.

planning303

Think i'll have a go at this.. my total debt is running just shy of 7.5k and i would like to smash that this year.

I think it is do-able with some heavy snowballing tactics!

My loan is repayed in october 2010 and @ 250 a month, this should make a massive difference to my CC balances once its payed off!

toshvaldo

I'd love to join please. Am an returner to this sight, seem to have a LBM every Dec/Jan but am so determined this year. Sick of sitting here and the debt getting larger. Will have to read through to see how everyone plans to deal with the 10K, but its good to be on board!. Thanks. x