The Challenge - Debt free in two years!

Herewego

Have you been looking at my updated speadsheet that I was working on last night, it's all in pretty colours but in principal it's the same.
Maybe later I will post my goals then we can compare notes

Ceniza

Yeah sure you should do! It's good to see how others are doing to keep me going too

Right, off down the beach for PIMMS

Ceniza

I had a bit of a lapse this weekend...

I went out Saturday night, and had a few drinks and although usually a night out would be expensive for me, I only spent £35 in total, which wasn't too bad I guess, but still - I for some reason feel guilty about it - I guess this deat clearing must be getting to me for feeling guilty spending.

Anyway, efforts to be doubled! Must control spends!

Woowoo

Hi Adam

I understand why you feel guilty, at the begining of debt busting it's hard not to feel that no money should be spent on nice or fun things when it could go on debt.

Just look at it from a different angle though, previously a night out would perhaps of been funded by a credit card etc, so paying cash is always a change for the better.

Pre LBM my OH would give me his half of the shopping in cash and I would bung the whole shop on the credit card so I could use his cash to go on a night out, increasing my debt by so much every month, but my head was firmly in the sand!

Ceniza

Yeah I guess you're right.

I'm not using debt to survive anymore - everything is paid for out of my wage. I'm hoping to have about £150 left at the end of the month after all this debt busting so far to go on more overpayments.

Good news is, I do not have any other plans for the month for spending

Ceniza

My direct debit came out yesterday for my Capital One credit card. I didn't think it would since I'd made about £650 in overpayments this month. Anyway, slightly updated totals

My updated debt diary
Last update: 08-June-2010

Lloyds Loan - £18,665.10 @ 14.5% (down from: £18,831.22)
Capital One CC - £289.77 @ 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: £22,270.76

Woowoo

The other thing to watch out for, is any extra payments made before your next statement date don't count towards your next minimum payment, i.e if you make a payment on the 19th but your statement is the 21st or something your payment will just be an extra and won't count towards your required payment (hope that makes sense!)

Ceniza

Yeah I've learnt that LOL - I don't mind, it was only £30. I just thought since it showed online as £0 for next payment this month that nothing was going to come out, but it still did!

Anyway, it should be cleared next month with my pay

Woowoo

Will that be your first credit card cleared? It's such an amazing feeling when you can call then to close your account!

Ceniza

Yep, it will be my first one (since LBM). I've had other cards cleared, but they were cleared with more debt, rather than hard earned wages!

I cannot wait to call and cancel it. I'm wondering if they will try to entice me to stay! Doesn't matter, I have a deal with my OH that I have to have them all cleared. Part of the condition for her lending me the £2k for my overdraft. Calling them to reduce the overdraft from £2k to £250 was an amazing feeling, it felt so good to be able to do that