Starting the challenge 19/03/2010

Aspiration

Hows is everyone tonight? A bit of a rubbish day all round really, i've had a bad day at work,my wife has had a bad day with my son and didn't get a chance to ring lloyds and see what balance transfer offers were available. My MBNA offer has now end meaning by APR will be a staggering £120 a month ... SCARY! This will be transferred to a better APR hopefully tomorrow if all goes to plan, and then clear approx £1800 with the extra money that we have to chunk off a large amount of balance.

Hows everyone else tonight???

Aspiration

Ok, well had to do a few balance transfers today so have listed the changes below to my signature below.

Herewego

Well done on the balance transfers which debt are you hitting first

Aspiration

So now i need to clear the last £3000 from my MBNA, This will be covered by £1800 from the money we've got coming that weren't expecting (Planning £1800 due to tax/ni etc), i had an option to balance transfer £600 to my barclaycard however the offer has now been removed from my online account which makes me think they may have removed the option, not sure if concerned by the amount of debt, will phone tomorrow and find out.

That would leave me £600 which i would need to clear, this is the last of the expensive debt as the MBNA balance transfer ended. I am hoping that now nearly clear it will start generating some life of balance transfer options, my wife got 6.9% for life and i'd be happy with that until cleared.

Then my EGG card will be next, i have transerred £1000 onto my wifes MBNA as this will be 0% for a year, as opposed to the 16% it is on. That leaves me £3200 on EGG until i can get it onto a better card i will then carry on focusing on this. As i said hoping now my MBNA is nearly clear they will start getting me some balance transfer options.

I have now set my targets as below -

I want to be under £20k by the time my wife gives birth (I will be there or there abouts)
I want the debt on 3 clean CC's for life of balance transfers so i don't have high interest rates and then keep transferring and incurring more fees.
I am now thinking i want to try and clear all of the debt by the end of 2012. This is being hopeful, but actually if i aim for that and end up being a month or two over thats better then my 2014 original date.

Been thinking alot about interest rates, balance transfers etc and will be glad when i cler them all and then can just enjoy life and save some cash!!!

Herewego

I know where you are coming from cant wait to be released from the cc, life should be so different in a year or so time. You are doing well getting everything onto 0% or low interest, it's the interest which is killing me at the moment but hoping to get most of debt onto 0% in the next few months then the balances should start to drop.

Aspiration

Are you managing to get good Interest rates now?? I'm finding it pretty hard to get them, I think I'll be there if I can get a good offer on my Mbna as this has a 10k limit, then get other debt onto that and should leave me on 4 cards, just want to get them onto 3 cards, but need to clear debt down to under 24k to do that, scary still so high! After next payday I think I will be under £27000 if all goes to plan.

If you've got a year to go that must make you feel great??

Herewego

The plan is to be clear by December 2011 not sure we will make it and we will have a few more very tight months to come. I have an offer on 2 cards of 0% for 6 months one has very little spare and the other i am hoping to clear in November them move £7k to it that should help quite a bit.
I have worked out if I throw the same amount of money at my mortgage after the debt is gone my mortgage will be clear in 5 years.
My next payday I am hoping for £34500 looking forward to getting into the 20's

Aspiration

Well it's been a long time, i have been very busy and busy times at work. Well haven't received all of my partners share money but i expect to get it through by Friday. I am hoping to be under £27,500 after the next payday, by the time this second baby gets here i want to be under £20,000 this is going to be a massive challenge and really depends on me and family keeping to budget and delivering my end of year figures to get my cash bonus which will knock off a couple of grand which is essential!

Wow - I HATE HAVING DEBT!!! GRRR

Aspiration

Feeling stressed with the burden of debt, to make life harder i've now blocked 2 of my internet banking accounts, and one of my balance transfers didn't go through so ended up paying an extra £100 interest. We had paid a large amount of balance off, however their system needed an extra few days to allow for cash to clear so got rejected for available funds...grrr!!!

Aspiration

Feeling massively stressed about money, wnded up having to move money around CC's as they're not generating any great balance transfer offers. I need to re mortgage in July 2011, i am seriously contemplating getting an extra £20k to pay down and give myself some breathing space. I want to be at the £20k mark when my second child is born but at this rate that looks very optimistic. We have definitely controlled our money and i am confident that we would not increase debt by getting extra but it just means i pay considerably more back, but gives us a bit more breathing space with regular payments.

How's the forum tonight??

A STRESSED ASPIRATION!!