Every little helps.....!

lazy&indebt

Just been given an inflation rise that equates to about £20 extra per month so i have increased my credit card repayments by an extra £20 per month. I was paying £55 per month on a £2589.74 balance which would take me 47 months to pay off. Now I am paying £75 per month, it will take me 34 months to pay it off, shortening the time by over a year!! Not bad for an extra fiver a week is it?

EDIT: if you look at it this way - that is an extra 60p per day! Cut out something that costs 60p everyday (walk instead of taking the bus for example) and you could shave over a year off your debt free date!

Just to show people with credit card debt that just paying a tiny bit more each month can make a massive difference

owessomuch

I am very impressed at your will power!

When you think of it as just 60p a day you don't think it's very much but when you put it that way it is a great step in the right direction.

Well done and good luck!!

lynzpower

Wow thats such a great result!! :T

And brilliant to shave such a large amount of time off your DFD!!!

LJD1_2

That's a really good way to look at it. Right, i'm going to try the 60p a day challenge! Do you think barclaycard would be really annoyed if i literally paid off 60p a day? Hee hee!

linniestorm

Brilliant result, and it is a great way of looking at it! Well done!

And speaking of the little extras making a difference I made three extra payments to my loan last week

£0.87
£1.15
and then £31.00 when I realised it would take it under £6K

sod it, I won't miss the pennies but you never know the good it will do! And Natwest did say I could make overpayments whenever I want and that would immediately make a difference to the interest charged!

LJD1_2

That's fab, did you actually go in and make a payment for 87p? Now that is class!

linniestorm

LJD1 wrote:

That's fab, did you actually go in and make a payment for 87p? Now that is class!

No it was online But actually I would love to go into the bank and do that just to see the look on their faces! So maybe when I'm off next week I'll take my bus fare change in and try and pay it off just to try it out!

lazy&indebt

I might do that, log onto my egg card and pay 60p off every day!

Think how many ways you could save 60p per day though - buying supermarket own brand instead of named brand, having lager/cider to drink instead of vodka (prob more than 60p there so you'd only have to do that a couple of times a week!) don't buy that chocolate bar for lunch every day, anymore?!!

lyric_grace

How about not buying a newspaper and reading the news online instead? That way you could shave years off your debts in no time!! I think I'll take my own advice and try this for the next month or so.

leni

I 'laid out' some money for work to purchase train tickets for me and 2 volunteers, I've just got the cheque back and deposited and paid 40 off our debt! Plus I sold 45 worth of stuff on ebay yesturday and I have 80 from Quidco to come, not gonna tell OH about it because he'll want to spend it and I wonna pay off debts

dinkylou

you could take lunch in instead of going out and then add the difference to your debt.

it'd be gone in no time!