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The Challenge - Debt free in two years!
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Yeah sure. It's good to have people with the same goals I think - healthy competition to clear debt quick between others can only help us to push on with clearing it
Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0 -
Small update - the Capital One statement is updated so to keep the motivation and excitement of this up, I thought I would share my small dent in the amount.
Edit: My updated debt diary
Last update: 01-June-2010
Lloyds Loan - £18,831.22 @ 14.5%
Capital One CC - £468.83 @ 30% (down from: £968.83)
Egg Banking CC - £943.30 @ 21.90%
Lloyds TBS overdraft - £0 @ 12.3% (down from: £2,000)
Loan from OH - £2,000 @ 0%
Total Debt: £22,243.35Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0 -
Excellent! So what are your plans for next month??Me, DH and DD (17 months) clearing our debt for a better future. Then (LBM) = £21,636.43 (Oct 2009) Now = £12128.07 (44%)GOALS/CHALLENGESTry to get credit card to £2k by April 2012 (was £3014.94)PADing to clear CC 1/1/12 TOTAL: £32.00Ditch 100 in January challenge: lost count but way over 100!!!/1000
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The plan is to have the Capital One cleared and then as much put onto the Egg card as possible Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0 -
Finally, my loan and Egg credit card were updated. Close to getting into the £21k already. Making me more determined to have at least another £100 put towards this debt
Edit: My updated debt diary
Last update: 02-June-2010
Lloyds Loan - £18,665.10 @ 14.5% (down from: £18,831.22)
Capital One CC - £468.83 @ 30% (down from: £968.83)
Egg Banking CC - £915.89 @ 21.90% (down from: £943.30)
[STRIKE]Lloyds TBS overdraft - £0 @ 12.3% (down from: £2,000)[/STRIKE]
Loan from OH - £2,000 @ 0%
Total Debt: £22,049.82Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0 -
Ahhhh I couldn't help it. Just paid another £150 off the Capital One credit card!! This is getting addictive!Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0 -
It really is isn't it!!?? Already I keep looking at my account to see if I can squeeeeze anymore off the loan
Just look at that amazing line striking through one of your debts!!! :jMe, DH and DD (17 months) clearing our debt for a better future. Then (LBM) = £21,636.43 (Oct 2009) Now = £12128.07 (44%)GOALS/CHALLENGESTry to get credit card to £2k by April 2012 (was £3014.94)PADing to clear CC 1/1/12 TOTAL: £32.00Ditch 100 in January challenge: lost count but way over 100!!!/1000 -
Shame that line through created a new debt. But at least it's at 0% Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0 -
Yep that will save you a bit in interest, I was very grateful to my mum when she did that for me. Looks like you'll have another line by next month though That Capital One is coming down FAST! Me, DH and DD (17 months) clearing our debt for a better future. Then (LBM) = £21,636.43 (Oct 2009) Now = £12128.07 (44%)GOALS/CHALLENGESTry to get credit card to £2k by April 2012 (was £3014.94)PADing to clear CC 1/1/12 TOTAL: £32.00Ditch 100 in January challenge: lost count but way over 100!!!/1000
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Should be just over £300 by the end of the month, so by my next pay cheque (25th) I should be able to clear it.
It's been really good since I moved jobs because I'm now paid on the 25th rather than the last working day of the month, so I'm still used to not spending anything at all until all my bills are paid on the 1st, so it's almost like a 3 week wait till each payday as I usually write off the gap from 25th to the 1st as a no spend zone Adam's diary - My Debt Diary - The Challenge | LBM May 2010 with £23,343.35 | £16,141.46 to go...
Cleared: £7,369.16 / 30.85% | Current DFD: Oct2012 from Jan2014 | July repaid: £600/£800
Goals: Aug-11 37% | Nov-11 60% | Feb-11 67% | May-12 76% | Aug-12 86% | Dec-12 debt free0
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