Newbies' 10K in 2010 Challenge!! :)

lamarsi

just reading the posts about slow cookers whilst the smell of the beef and veg stew i made last night wafts thru my house, just re-paid the arrears on my morgade whit woo! ..angelbot i'm not sure if anyone has answered you but you can put all your details into a snowball at whatsthecost if you put interest rates min payments etc it does the work for you. Oh I'm so happy at the thought of leaving the next decade debt and morgade free! On a sadder note at the bigging of the new decade ten years ago everyone told me i looked like baby spice... now i look more susan boyle pah were did those years go...

lamarsi

are we reducing our debt by 10k or paying 10k of the debt btw? paying 10k is a piece of cake as i have to pay more than that anyhows so i think i should go for the reduce it by 10k more of a challange

planning303

Well speaking just for myself, I am intending on attempting to reduce my debt to 0, this will invariably involve me spending more than the total debt to cover the interest part of the payments.

I have to pay about 355 in minimum payments, but the interest on the loan was applied at the beginning (so i've accounted for this interest within the total debt figure) and 1 of my credit cards is 0% so the minimum covers more than just interest.

I'm then going to try and live as tightly as possible (without getting rid of sky) and anything left at the end of each month will go thrown at one of the CC's - hopefully in the region of £200.

Once october passes and i finish paying my loan @ 250 pm, this will also get chucked towards my CC debts.

I have done a snowball spreadsheet based on my being able to afford 500 a month on debt repayment and it reckons 16 months is a do-able time scale, but who knows.

If i can break the back of the debt and not take any more on by this time next year... i'll be happy!

museumworker

s0237276 wrote: »

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?

Hello, I'm saving rather than paying off a debt too, and don't get any overtime from work. My double-pronged attack will be to save money on everything and make as much money as I can!

Have you joined the Make £10 a day challenge? That is a great way to make money, basically what has worked for me in the last 4 months I've been doing it is selling books on amazon, ebaying old clothes (and a cooker I had lying around!), picking up odd pennies, selling a broken phone down the market, doing surveys online. I've also already made £90 from topcashback switching my energy supplier (to a tariff which should save me £300 a year on top too!) and have another £100 pending too.

In terms of saving, I've already also switched my home and car insurance, saving approx £400. It will be hard for me to calculate as am I comparing savings to last year (when I got quite frugal anyway!) or what could have spent? Either way, as long as more money ends up in the savings account at the end of the month I will be very happy!

Planned frugal new techniques: make presents, buy bargains for gift box from sales/second hand shops, stick to crazy clothes challenge, carry a bottle of water at all times, make own birthday cards, reduce energy usage further, reduce food budget, go camping for summer holiday, take packed lunches everyday and also on family days out, use every bit of toiletries, makeup and perfume in house before buying any more... still struggling to see how this will add up to £10k, but if it was easy, I wouldn't be here:rolleyes::D :rotfl:

Lookingtothefuture

DreamerHelen wrote: »

Can I just say...I know this isn't very MSE initially...but if you want a Slow-Cooker which will save you money in the long-run (because you can cook in bulk and freeze) then Tesco's are selling their Crock Pot slow Cooker's off and they are reduced from about £38 down to about £18 and they are 3.5 litre ones so enough to cook for the whole family.

We bought our clow cooker yesterday from Argooose, it was in the sale for just £8.99 and as we had a £5.00 gift voucher from OH gran for Christmas was just £3.99... and we collected Nectar Points too!:money:
Tried it for the first time last night, made a chilli! Was delicious and made enough for 6 portions! Bargain!

Amatheya81

Slow cookers are great! I can't wait to try my new one. I'm still eating a Christmas leftovers pie at the moment (it's rather yummy, made from leftover turkey, roast spuds and parsnips and other assorted veg mixed leftovers with gravey and a couple of oxo cubes)

I'm starting my spending challenge from today because it's my first shopping day that will cover the new year. I have £100 to spend per month which breaks down as £40 food, £20 Petrol, £20 Pet food and bedding & £10 other stuff. Anything I save from my budget will go into a pot (I need to find a pot from somewhere lol) and will be used to pay a little extra off my credit card every time the pot is full. It's going to be a struggle because I really like spending money but I know I can do it!
I'm going to go to the super market with a shopping list for the first time in my life (Usually I wonder around buying waterver I fancy) and I'm not going to allow myself to buy any meat or veg until I've emptied my freezer so my first shopping trip should be pretty cheap.

I'm soooo excited about the start of the challenge on Friday

tlc123_2

Hi all

I havent been on as decided to have a debt worry free christmas!!! Great to see how positive everyone still is! Only two days now - which will also be the start of the year we get married!!

Decided to sell my car - its on auto trader for over £5000. Now, I could buy a banger and pocket the 5k, but I've decided not to. I know it's naughty but I've sacrificed so much to pay off my debts, havin a nice car is like the only thing I have left to remind me that I do work hard and earn good money. we do spend £800 per month paying off debts! I need one nice thing! Check out my justifying abilities...

I am going to include the payments I makke anyway. So will put all extra in a separate account, then every three months will contact my creditors and get settlement figures to work out what I've paid off. I realise that as my debts are so high, me paying £10k towards it won't actually knock £10k off the total, but it still feels good!

Hope everyone's good - I have not been in one shop for the sales! I refuse and I feel so proud of myself!
T x

lauraindebt

Eek, saving not going well so far. Put car in for MOT yesterday and just had a quote for £450!!! Also have tax and insurance to stump up in January, so around £1k in total

At this rate, I'll probably be adding £10k of debt in 2010...

sickandtiredofdebt

challenge is going great so far and its not even Jan yet!!! Already managed to cut out some things i dont actually need and saving another £50 a month so already have £100 in my 10k pot lol, only a little way to go hee hee!
Ive been sat on the two loans im tryin to pay off for the best part of 10 years and im determined they will be gone by the time im 30 at the latest, (18 months) best case dec 2010 :j

SiannieLaz

Keep looking at my signature and getting excited cos i've already got £250 - I am very sad!!!!