Shifting a 24K debt in a year?????

Kepp

Yay payday has come meaning motivation has gone up!!!

I have managed to pick up an extra shift in the pub tonight which is good as this covers the fact I don't have my usual cleaning job for tonight.

Paid my Mum the £50 I owe her for July's payment and actually managed to do that out of June's money which felt good.

Then, in the spirit of Woowoo'd diary and making as many payments as possible even when small I paid £7.94 to MBNA!

As I'm working tonight I have set aside Friday night to call my credit cards and start making those balance transfers. Double money saving hopefully - staying in will save money and not paying interest will save money!

Off now to to try and work miracles with my pay and decide who I'm going to pay what - may as well get those payments sent out now and try to slash that interest!

jtr2803

beccie wrote: »

Yay payday has come meaning motivation has gone up!!!

I have managed to pick up an extra shift in the pub tonight which is good as this covers the fact I don't have my usual cleaning job for tonight.

Paid my Mum the £50 I owe her for July's payment and actually managed to do that out of June's money which felt good.

Then, in the spirit of Woowoo'd diary and making as many payments as possible even when small I paid £7.94 to MBNA!

As I'm working tonight I have set aside Friday night to call my credit cards and start making those balance transfers. Double money saving hopefully - staying in will save money and not paying interest will save money!

Off now to to try and work miracles with my pay and decide who I'm going to pay what - may as well get those payments sent out now and try to slash that interest!

Morning Beccie, from the sounds of it you are doing really well at keeping yourself motivated and getting those debts down! Having other people to vent and report progress to is so great here on MSE, I am sure without it I would have already fallen off the wagon.

Have a good shift tonight

Ceniza

I agree with JTR! Without MSE and you guys keeping me company, I would have already (after two months) decided I was paying way too much back to my debt, and decided to spend, spend, spend!

And it's good to have y'all here as company! Have a good shift

miggy

Just popped in to see how you are doing!
Well done for bringing your DFD a month earlier - that's impressive, especially in such a short time! I'm sure you will soon be knocking a few more months off the total at this rate!!
Keep up the good work (and don't forget to eat & sleep ).

Kepp

Unbelievable!!!

Just finished making a post on Adam's diary and then lent over my desk to grab some papers that were blowing away as the window's open, didn't realise I'd pushed my chair back and just sat down where there was no longer a chair!!!! Lucky I'm alone in my office this afternoon! My bum hurts now! :rotfl::rotfl::rotfl:

Point taken Miggy - MUST SLEEP MORE!!!

Woowoo

Hi Beccie thought I would pop in and check out your diary!

Well done on the small payment to MBNA, it all adds up eventually!

Fingers crossed for the balance transfers, I can't get any

crapwithcash82

Hi Beccie, just thought I was say hello as I have just read through your diary :wave: You've got an ambitious target - but what a great feeling that will be if you do pay it off within your timescale! I'm sure with your motivation and the help and support of MSE you will get on great guns!

I'm aiming to be debt free by Jan/Feb as I am preggers and due in February so want to be debt free before baby number 2 arrives. Would just be fab to be on maternity leave and have my pay ALL to myself, without evil creditors taking their share!

Will subscribe to your diary to keep up to date with your progress and to help keep you motivated - well done so far!! :T

Kepp

crapwithcash82 wrote: »

Hi Beccie, just thought I was say hello as I have just read through your diary :wave: You've got an ambitious target - but what a great feeling that will be if you do pay it off within your timescale! I'm sure with your motivation and the help and support of MSE you will get on great guns!

I'm aiming to be debt free by Jan/Feb as I am preggers and due in February so want to be debt free before baby number 2 arrives. Would just be fab to be on maternity leave and have my pay ALL to myself, without evil creditors taking their share!

Will subscribe to your diary to keep up to date with your progress and to help keep you motivated - well done so far!! :T

Hi crapwithcash,

Thanks for dropping in!

I know my target is probably way too ambitious but for some reason that gives me more motivation!!!

Good luck with your DF journey and congratulations on the baby on the way!

Kepp

Just a little exercise with figures I’ve just done – it’s amazing the things I find that help me be more motivated, sad I know!

The one MSE thing I’ve always stuck with is a set payment rather than just the minimum as Martin suggests it does make a difference. So, if the first minimum payment was £50 I would have set my direct debit at that rather than letting it go down. I ran my figures from April through the repayments calculator and found that if I’d continued to pay off at that rate I would have paid my last creditor off in JULY 2030 and the total cost of repaying my debts would have been £40,796!!!! :eek:

I just ran my beginning of July figures through and just from the overpaying I’ve done so far, even if I now returned to my original payments (which I won’t!) then I would now pay my last creditor off in JUNE 2021 and at a total cost £21,170!

I know that date and the amount is still horrifying which is why I would never return to those payments but since I’ve only been tackling this since April I thought to have knocked off 9 years and nearly 20K of the total cost of repaying wasn’t too bad.

It just got me thinking earlier when Adam was talking about lowering his repayments which is actually a good idea for his sake! But we do tend to beat ourselves up about it when we can’t make as many extra payments as we like or have a bad month with money, I know I do, so I found it a lot more cheerful to look at the progress that the effort does make even if we fall short of repaying as much as we would like sometimes.

That’s it my ramblings over! Hope it made sense! If nothing else at least my motivations is up where it should be

My plans for tonight are first of all attempt to return my camera that broke out in Africa while it’s still under warranty. Then this evening I will be on the phone with the credit card companies and fingers crossed making some balance transfers.

Saturday will be my long dog walk. I started this when I tried to pay my debts back the first time and have done it ever since. I go with my Mum so it’s nice to see her, we take lunch so it’s cheap, and go to the woods and canal and walk for about six hours. My dog loves it and needs the exercise (she’s a Jack Russell), it does me good and best of all it got me out of the terrible habit I used to have of going shopping every Saturday and blowing £200 on clothes every time!!!

Sunday afternoon I’m working in the pub which is always a nice chilled shift.

I also want to get some paperwork sorted over the weekend, do some reading and most of all SLEEP!!!

Have a good weekend all x

crapwithcash82

beccie wrote: »

Hi crapwithcash,

Thanks for dropping in!

I know my target is probably way too ambitious but for some reason that gives me more motivation!!!

Good luck with your DF journey and congratulations on the baby on the way!

Thanks for the congrats! Its exciting stuff!

At least you are giving it a good shot, ambitious or not! Will keep popping back in to see how you are doing, looking forward to giving you a MSE pat on the back when we are debt free!