The Challenge - Debt free in two years!

Ceniza

Oh, I appear to have a new name LOL. When I very first joined I tried to change it, completely forgot about that, oh well, it's still me here

Ceniza

Hmmm I don't like this new name, you think I could change back? LOL

Kepp

ha ha maybe...but please only back to Adam. I'm easily confused and if you go for a third different name I won't know what's going on!!!

Kepp

Ceniza wrote: »

What was the problem with Goldfish?:mad:

They wouldn't let me transfer a balance so now if I move my MBNA card I will get the Lloyds debt stuck behind it. Still think this may save me the most money though, might have to run some figures and check. I was a bit down about it on Friday night, but hey, just got to keep going!

Ceniza

Ah that's rubbish!

I tried to balance transfer earlier in the year and was refused! It really annoyed me! I couldn't see a reason for being declined either. I make good money, my debt is half my annual salary so not sure why. I guess my credit rating is just shot from all this debt.

Still, 17 days until payday, and more debt busting

Ceniza

So I've just set another DD up for my neice (already have one for my nephew), for her trust fund. I just hope they turn out to be nice kids and spend this money wisely, rather than blowing it on fast cars and what not LOL.

My sister and her husband are not great with money so hope they teach them good, financial advice, something I never really received as a child. I think it should become part of your learning at school or something, because I was never taught the value of money.

I figured, the main reason I got into this debt and mess was because at 18 years old I didn't have a penny to my name and wanted to enjoy myself all too early. Main purchase was a car, and from then, I realised I could get credit and that's when it started.

So, hopefully, by putting away a little each month for them, they will have a good head start, and wont need to get into debt to buy their first car, or something.

Anyway, have a good day all.

Ceniza

So I've been thinking about the payment a day and think I'm going to do it for the Egg Credit Card, setting a minimum of £1, so even if that's all I do every day, that's still around £30 a month minimum going on it

Kepp

Ceniza wrote: »

So I've been thinking about the payment a day and think I'm going to do it for the Egg Credit Card, setting a minimum of £1, so even if that's all I do every day, that's still around £30 a month minimum going on it

Definitely think you should do that, every little helps

I've been joining in with it this month and posting on the PAD thread - find it's quite motivational to contribute and watch the group total going up!

Did you deicde to reset your repayments to £800 in the end?

Hope you've had a good day

Ceniza

Well my standard monthly payments are:

Lloyds Loan: £383 p/m
OH Loan: £200 p/m
Egg Credit Card: £40 p/s

So overall it's just over £600 p/m I make in repayments as standard, so will just make £200 in over payments at the start of the month, and then anything left over at the end will go on the debt too. It should work out that with paying the £800 p/m on debt and then all over bills like rent and stuff comes to about £1,900 p/m or something total, so as long as I can have a relatively quiet month, I should have the £200 saved at the end of it all, if not more.

Only time will tell I guess

Oh and the day has gone okay thanks, how about yours?

Woowoo

Hi Adam

I can't get used to your new name lol!

Hope your having a good week?