The Challenge - Debt free in two years!

Determined_2b_Debt_Free

Thanks funny, I kind of do that too as I get paid on the 24th but OH is the last day of the month so I'm in limbo until he gets paid and try not to spend anything in that last week. This month so far it seems to have worked out really well and we're ahead on grocery shopping and everything! That's why I keep looking to see if I can pay anymore off... will have to wait and see though.

emmie26

Thought I would have a look at your diary as you had said such nice things in mine, seems like you are doing pretty well yourself, its funny when you come onto these diaries everybody seems to have their weakness, whether it be gadgets, clothes or like me new things for the house, the biggest challenge of all is to change these habits so that when you are debt free you don't make the same mistakes. So far I am clueless about how I will change my ways but just coming onto the forum helps as if you are honest about your spending people will question you and you start thinking that you don't want to have any confessions to make :rotfl:

Keep up the good work and I'll follow your progress :beer:

Herewego

I've just done the same and gone back to pay some extra of my virgin card so I can see it under £2k
Well done on you payments so far, I think your going to give me a run for my money on clearing the debt by the end of 2012 plus mine is twice as much as yours :cool:.
Thats it off to do my snowball again

Ceniza

Determined_2b_Debt_Free wrote: »

Thanks funny, I kind of do that too as I get paid on the 24th but OH is the last day of the month so I'm in limbo until he gets paid and try not to spend anything in that last week. This month so far it seems to have worked out really well and we're ahead on grocery shopping and everything! That's why I keep looking to see if I can pay anymore off... will have to wait and see though.

It certainly helps to do it this way as three weeks on your pay is much easier to last through

emmie26 wrote: »

Thought I would have a look at your diary as you had said such nice things in mine, seems like you are doing pretty well yourself, its funny when you come onto these diaries everybody seems to have their weakness, whether it be gadgets, clothes or like me new things for the house, the biggest challenge of all is to change these habits so that when you are debt free you don't make the same mistakes. So far I am clueless about how I will change my ways but just coming onto the forum helps as if you are honest about your spending people will question you and you start thinking that you don't want to have any confessions to make :rotfl:

Keep up the good work and I'll follow your progress :beer:

The new iPhone is out in a month or so... I don't know what I'm going to do

Herewego wrote: »

I've just done the same and gone back to pay some extra of my virgin card so I can see it under £2k
Well done on you payments so far, I think your going to give me a run for my money on clearing the debt by the end of 2012 plus mine is twice as much as yours :cool:.
Thats it off to do my snowball again

I'm planning on a May 2012 clearance for all my debts, although secretly am thinking end of 2011 may be achievable if I put bonus payments towards it

Good luck :T

Herewego

I'm never going to catch you but im going to give my best shot watch out

Ceniza

Herewego wrote: »

I'm never going to catch you but im going to give my best shot watch out

Competition You're on! I will be watching you closely

Ceniza

My Capital One payment I made came off my balance today. Quite happy to already see me below £22k. Paid over £1,000 this month onto debt, which at the moment feels good, however, I know with 21 days until pay-day I'm going to have to watch my pennies. At last count I think there was just over £500 in my account. Unfortunately this month is pretty booked up with events, but I'm sure I can curb the outgoings. Managed to restrict myself to one drink at last nights pub quiz, and tonight an old colleague is changing jobs and having leaving drinks. I'm going to drive to ensure I don't drink and spend money.

Sunday is eBay day, with the rain it should be perfect for sorting out the clutter. What a weekend we're going to have, and living on the beach makes it all the more better! Happy weekend all!

My updated debt diary
Last update: 04-June-2010

Lloyds Loan - £18,665.10 @ 14.5% (down from: £18,831.22)
Capital One CC - £318.83 @ 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: £21,899.82

Woowoo

Yippee for getting into the £21's! I love seeing the figure at the start of my debt go down a digit.

Ceniza

Thanks Woowoo, unfortunately, they're short lived celebrations.

I just realised I made a mistake in my original calculations. I actually had another debt of £400 @ LBM. It was to my OH (again), but for furniture when we moved into our flat. I'd been paying a steady £200 a month and forgot to include it, so total debt was higher. Here's my update

My updated debt diary
Last update: 04-June-2010

Lloyds Loan - £18,665.10 @ 14.5% (down from: £18,831.22)
Capital One CC - £318.83 @ 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 No.1 - £400 @ 0%
Loan from OH No.2 - £2,000 @ 0%

Total Debt: £22,299.82

Ceniza

I've decided mini-goals are going to get me to achieve this with more motivation. As seeing small chunks at a time must be more motivating that one lump coming down. I will set smaller goals for 2011 when this year is done with. My current goals are:

1. Clear Capital One cc (June)
2. Clear OH loan No.1 (August)
3. Clear Egg cc (July)
4. Clear Lloyds Loan to < £20k (September)
5. Clear OH loan (August 2011)
6. Clear Lloyds Loan (May 2012)

:T