The big challenge - pay off £20k by Christmas 2010

se999

Here's my monthly update:

Saved at last update 2020
Saved on budget Jan 1148
Scratchie & bingo 31.50

New total 3199.50 :j

Got quite a lot in various bingo a/c's but timing not right for withdrawing yet, and I don't count the cash until it's safely in my bank a/c. Also more amazon vouchers from free bingo sites, which will save money when used

taxi73

Great payments Guys..let's keep it up.

Moneytroubles_2

Hiya everyone, paid £40 off the debts today xxxx

banwa

I have already posted this on the newbies £10K challenge so sorry if you are reading this again. A couple more credit card payments came out on, taking me up to £1971, so I have paid another £29 online to make it £2k this month. :j

We won't be able to maintain it (it was bonuses and stuff) but we are very pleased all the same.

Well done to everyone, there are some fantastic totals:A

madmich666

Hi all,

Some great payments being made!!!

I've just been given another £100 for me and hubby for our birthdays so hoping to pay that off some debts

gailey_2

Final jan update for me.

was bored and frustrated with payment so the day so paid spare £2to additions catalouge they going to think im mad,another min £54 to pay to them for feb but need to paymore as highest interest!

28th paid usualloan £40 Lloyds and £30barclays now within od limit!
29th sadly £103 abbey bankcahrges for hubby!

total extra payments £175 which brings total so far for entire challange
£1076.76 cant wait to hit 2grand.

Need to get our combined montly debts up to at least a grand a month!

feb pricey month as daughters birthday.
cars playing up again but have no money toput towards it.
dont think we have to pay water or ct this month wanted to put as additional
overpayments but needs to go towards car.

Additions has to be priority debt
followed by barclaycard

however wondering if should clear £1000 left of Lloyds loan as thinking starting new loan to buy car as current cars killing us cost us £3grand last 3years in repairs its only worth that much its getting me down and hubby needs it for work.
Its stressing me out as always in garage!

got lots of bills to pay this month,ebay fees high but necessary evil.
Trying to stay positive, hubbys still skeptical!
He needs me topush him thats why im more agressive with overpayments if i clear mine can add towards his.

well done everyone.

taxi-your halfway there in 2months how you do it?

NoDebtDiva

Hi

Just checking in with my weekly update! I have now paid a total of £3,610 towards my debts.

The next few months will be a bit challenging but I'm hoping to cut down on my spending.

Well done everyone

taxi73

Gailey would it be cheaper for your DH to use public transport to work so that it frees up more money towards debt.
Depreciation,tax,insurance,fuel etc can be surprisingly high when you add them all up.

gailey_2

No impossible hes store manager works long hours,diffrent shifts in south wales and we live in southwest!

Public transport be more expensive, he gets petrol money and free tag for bridge which is handy as all my family live in wales.
We only run one car,couldent cope without it.
I used to have vespa which was cheap to run.Sold it when Ileft my fulltime job as not ideal with 2littleones.

I walk lots, try to shop local.Sometimes take bus which is pricey here!
Considering we live inoutskirtsof large city public transport dire never on time and expensive.
Have had to take2buses each way to work when vespa was in garage.

we need a new car its been jinixed since day we brought it 4years ago.
I blame hubby he had 2seater pre kids.I kept saying dont leave it until last min.
Month b4 my due date we ended up part exchanging it , got rubbish money for overpriced bmw3series.

Within a month of owning it was back in garage
then month later next door neighbour rammed her landrover into it!
Not been quite rightsince.

In 2008it cost us nearly 2grand in repairs i said lets get rid cut our losses
Hubby was reluctant said something might not go wrong and a diffrent car might equally go wrong.

2009over another grand in garage nearly every other month.
The back windows broken.currently tapedup dad sayshe can fix it.
warning light keeps coming on repetative problem,bmw dealers and local garage stumped its had new cat converters, new exaust and 2new sensors.
With parts its practically a new car!

someone has broken his mirror too and drove off!He tried to move passenger mirrorbut broke that.2new mirrors £40plus druver side needs part formirror bit to sit on so need toorder frombmw dealer as halfords dont stock, darnt claimon insurance but its extra 50quid we havent got!

latest probs are warning light,needs new brake pads, possibly clutch and no doubt new tyres!

Its too small as well with 2kids as boots quite small.
Hubbys now ready to say goodbye but we cant afford it and it keeps depreciating ,mechanic reckons 2half-3grand max now paid 7.
If only I owned shares in the garage!

taxi73

Ahh wwas just a thought as many others have saved loads doing that.
Don't bank on a new car being any good..I only buy new but have had 2 brake calipers,new alternator,2 new clutches,a valve in the exhaust,a leak in a pipe for coolant and a oil seal replaced near the drive shaft all under warranty luckily...but it will cost a fortune shortly when the warranty is up.
There are many new cars on the market with umpteen faults needing rectifying at the moment.
The latest Toyota fiasco is also affecting peugeot and citroen C1s...

There isn't a car on the market I'd like to buy at the minute!!! ..asnothing seems to be up to the job!!!