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

greent

SIgn me up, please. We've only got the mortgage to go, so I'll say a conservative £10k capital reduction on that for the year - and not to gain any other debts (eek!). If (when, please!!) OH gets a job I'll look to increase that figure!

Good starts already, I see! Well done, peeps!

greent x

Brokeattheminute

Can u put me down please have 1,850 in debt and £8,000 in savings 2wards my extention,that's 9,850.thanx

cashsaver

Hi everyone,
Thanks hypno..... very kind of you to issue the numbers. I am proud member number 125.... yet am not off the mark!!!! DS 13th birthday today so splashing out a bit (er... a lot) ... Well done everyone! Good luck!

Happytogetdebtfree

yay ive updated my signiture, gosh i didnt realise how much went out so quickly i knew i paid alot out but not so early on grief but roll on 2010 20k wooo

poohbear59

We had three payments go out today so already £250 paid off. Slow and steady wins the race, is DHs motto. It is only a bit paid off but it is a start.

Happytogetdebtfree

definatley no point rushing to the end unless you can then well done otherwise go at a pace that suits you but allows you to get to target x

40somethingmum

Hi Hypno,

Can I join the challenge please. Can you put me down for £15K

Thanks

40SM:D

Batfink

Thanks Hypno for setting up the new challenge, since it feels like my 2nd home I am going to sign up again - not to mention that it worked a treat for me last year!

So - this year I'm working on my student loan, and since the interest is currently zero, my plan is to have enough money to clear it in my savings account for as soon as the interest increases. So basically, I'm clearing a debt, just this time the interest will actually be in my favor!

Another little anomaly, is that the debt will increase as I go along, as I'm in my final year, but I'm declaring the whole of it now, so I know what I'm aiming for. Hope that makes sense.

So - my target is:
£8746.51

Almost £1000 lower than last year, so fingers crossed I will make it.

Good Luck Everyone, I'm such a sad case that I'm looking forward to it!

x

gailey_2

Try not to laugh guys but paid £2.25 off my od today as the ever useful Lloyds put charges of £2.25 on my account as I signed up for text banking with them but they failed to mention theres monthly fee for that service.
They text me this morning warning me i was on or over my limit which I thourght strange so rang up to find i was 2.25 od and baffled.
Went to branch got mini statement was charges which I queried and paid in £2.25 to make balance zero.

But i got bit overexited when i checked balance of my barclays account.
For the last year i not been using it as it was over my od limit mainly due to blooming charges and reserve fees not my overspending.
Anyway came to arrangement with them and been paying off set amount with child benefit money at highest it was £2500 its now £1766! Need to check if cb been paid in early already this month .

My limits £1750 so means wil have my cb money to put towards other debts, this gies up due to 2nd child am making my barclaycard and additions my priority debt as they have the highest interest rate.
Hoping by next week will pay £100 off which be good start to challange wil keep you posted and update sig accordingly.

pania

:hello:hello all!!!

well, this year I have been thoroughly Cr**. after being made redundant and only being on temp, low wage employment I gave up. I didnt feel worthy of anything and therefore didnt strive to acheive. :wall:

My debt total currently stands at £17100 :eek:so I am going to aim for the full 20k so as i can also acheive my other goal of getting to everest base camp at the end of the year.

I have just taken up full time emplyment again and as a result things should get much easier with a higher salary coming in

I look forward to joining you all and booting butts where required!! MWahahahah!!!!! :rotfl: