The Challenge - Debt free in two years!

Kepp

I'm sure you can

If not, we'll all kick you till you do!

Ceniza

Made a few payments in May. Another debt down OH has now been fully paid off! Feels like a relief as I can now concentrate everything into clearing this big !!! loan! £200 a month is on interest for this bad boy so reduction is no.1 priority

My updated debt diary
Last update: 04-May-2011

[STRIKE]
Capital One CC - £0 @ 30% (down from: £968.83)
Lloyds TBS overdraft - £0 @ 12.3% (down from: £2,000)
Loan from OH No.1 - £0 @ 0% (down from: £600)
Egg Banking CC - £0 @ 21.90% (down from: £943.30)[/STRIKE]
£200 to Loan from OH No.2 - £0 @ 0% (Down from: £2,000)
£400 to Lloyds Loan - £16,384.82 @ 14.5% (down from: £18,831.22)

Total Debt: £16,384.82

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What a relief it feels like to be down to just one debt! It's also been 1 year since tackling my debts! My actual posting anniversary is the 26th May, but May 2010 was my LBM so happy anniversary to me

Also a little dissapointed that of the £10,000+ I paid towards my debt over the year, I've paid about £3,000 in interest. It's a shocking truth to those who consider getting into debt.

Here's my fancy new graph thing I build which calculates my interest for me to allow me to monitor my overpayments and see how this will affect my DFD. Blue line is my original snowball, solid red it my current payments, and the dotted line is estimated payments (with interest calculated) which is accurate to the nearest 10p

Kepp

Happy anniversary!

Ceniza

Thanks Beccie - do you think I need to change the title of this thread?

"The Challenge - Debt free in two years and seven months!

mrsb83_2

That graph is awesome! I want one!

Ceniza

Thanks mrsb83 - I'd let you use a copy of mine, but unfortunately it only works with on debt

mrsb83_2

Hey no worries - I see a productive morning playing with excel in front of me!

And congratulations for getting to one debt!

Ceniza

Thanks!

I see you've cleared a crazy amount of debt in such a short time! Good work

mrsb83_2

Thanks! Joint debt, so there are two salaries going towards it.

We have the same DFD. I'm afraid to update mine in case I don't make it (how pathetic!) but I'm really hopeful of clearing everything by Dec 2012.

Ceniza

Ah that always helps to have two salaries towards it. Unfortunately this is all my own doing, so just me paying it off, and that's after I've paid my £800 rent and other bills like monthly rail ticket, car expenses and everything else life throws at me