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The Challenge - Debt free in two years!
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I have:
Loan - 12.9% and fixed payment of £139
Lloyds CC - on 0% till June then becomes 24.9% I've fixed the payment at £170
Barclays CC - on 0% till Apr 2012 then becomes 16.9% I've fixed the payment at £90
Santander O/D - on 0% till Jul and then becomes 12.9% I pay nothing to that at all at the moment but will fix the payment at £10 when the interest starts
My Mum - on interest free till it's paid, and that's a fixed payment of £50
Wondering if that may all be a little too complicated?!
Debt at LBM Apr 2010 £28,767 Debt free as of Nov 2013 :j0 -
Bejebus! I'm not sure if I could calculate all this without Excel dying... Will give it a go though (and try make it simple enough to use
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 -
Oh and I need the current balances of them all 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 -
Excel dying when it tries to calculate them? How do you think I feel?! And that's a lot more straightforward than when I started! :rotfl:
Loan £6,496
Lloyds CC £7,587
Santander O/D £1,400
Mum £1,276
Barclays CC £3,813
No worries if it does turn out to be too complicated
Debt at LBM Apr 2010 £28,767 Debt free as of Nov 2013 :j0 -
Cool thanks.
How did you work out your DFD? I need to do a snowball for you so I can copy the values into the graph thingy so you can see how on target you are over the year. Did you put in a fixed amount, starting with the highest interest first?
Could you do a snowball and copy the whole page and email it to my so I can copy it over? 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 -
Beccie, I've tried, and failed. I can only really do it on one debt with a known debt/interest amount. Trying to create this with multiple debts with differing start dates and interest is too much of a ball-ache, sorry
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 -
Ha ha, is your brain as frazzled as mine now?!
Thanks so much for trying though anyway Debt at LBM Apr 2010 £28,767 Debt free as of Nov 2013 :j0 -
Standing order set-up for my loan to begin for end of May's repayments. Standard payment is £383.87 a month, so now that OH will be paid off with this final payment, I have £200 spare, so added that, plus £16.13 to a standing order to make my standard monthly payments of £600. Then any overpayments I can make will be a bonus. The aim, is for an additional £200 on top of this to make £800. With this, I will achieve a DFD of December 2012Adam'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 -
Looking good Adam
It will be nice to just have the one debt - nice and straightforward and then you can throw everything at it Debt at LBM Apr 2010 £28,767 Debt free as of Nov 2013 :j0 -
yeah tell me about it! Although without the smaller goals of clearing one debt at a time, I hope I can maintain the motivation 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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