The 18k Challenge

DontDoDebtKids

Right, so I'm still doing OK but I'm only just in the black this month after getting my salary paid in today!!!

Goals

1) Spend as little as possible (for the rest of this month and the beginning of next month) to minimise damage to current account balances.
2) Mirror balance of my credit card in my savings account to avoid any more unpleasant "oh poo, i have no money" situations again (this is an ongoing goal).
3) Do any YouGov/Pinecone surveys that come up (also ongoing).
4) Update diary with debt totals and spending.
5) Use Orange PAC code to transfer number - need to research a good deal.
6) Claim back £25 (current account) and £30 (joint account) in bank charges from FD
7) Write a few complaint letters to companies to see if I can't get some free stuff/money back.

That'll do for now...

DontDoDebtKids

Hi all,

I've not been posting here that regularly of late because I had to wait (and wait and wait) for my refund cheque from Capital One to arrive, which finally did just before Christmas, so I could pay off my Egg loan.

Well, now I've paid off the Egg loan, I'm in a much better position but:

1) I overstretched myself by paying off my Egg loan
2) I forgot to anticipate lots of yearly payments that come out at the beginning of January
3) I spent lots on my credit card and didn't really have the cash to pay the bill in January (have now set up a savings account that mirrors my spending on my credit card and which transfers the required amount a day before the bill comes out of my spending account)

So I had to use a 0% credit card cheque to bail out my current account, attracting just under £8 for the 2.5% charge.

Now I need to pay off my Lloyds CC within 6 months to avoid being charged!!!

The plan is:

1) Transfer as much as I can from Lloyds to M&S (I have £371.11 available at the moment).
2) Pay off Lloyds with any spare cash.
3) Pay off Amex with any spare cash.
4) Pay off M&S with any spare cash.

Sounds simple really...

becsxxx

DontDoDebtKids wrote:

Debt Totals

M&S: £6,628.89 (next payment £198.86 on 29/1)
Lloyds: £2194.08 (next payment £37 on 29/1)
Amex: £4,360.74 (next payment £?? on 13/2)

Total: £13,183.71

Wow! You're doing so well! :T :T :T

becsxxx

Debt

Natwest Overdraft (£1,000 @ 0%) = £934.85
Natwest Graduate Loan (6.5%) = £400.00
Cahoot Car Loan (5.8%) = £3,562.11
Credit Card (NSPCC, 0%) = £2,000.00
Student Loan = £8,864.87

TOTAL = -£15,761.83 (actually more than last time, due to Xmas excess ) TOTAL PAID OFF SINCE START OF CHALLENGE = £2,773.98

Goals

1. Start looking for a new 0% or good Life of Balance deal to replace my existing CC when it runs out at the beginning of March
2. Put my car up for sale (again! It didn't sell the first time, probably as too close to Xmas... not sure whether January will be any better!)
3. Move all Mystery Shopping money (fees not just expenses reimbursements) when paid to a savings account (ready to pay tax on in April and then use to pay a lump off a debt!)

That's all for now!

Good luck everyone and hope the January blues aren't getting you too down.

Mirtos

Welcome back you two! Good to see the updates again!
xxx

becsxxx

becsxxx wrote:

Goals

1. Start looking for a new 0% or good Life of Balance deal to replace my existing CC when it runs out at the beginning of March Have applied for a Sainsburys card - 0% for 5 months and no balance transfer fee. Hoping to have paid the whole debt off by then!
2. Put my car up for sale (again! It didn't sell the first time, probably as too close to Xmas... not sure whether January will be any better!) Did advertise my car for sale, but then got a call from my sister who is desparate for a car for 2 months while she is out on work placement. We've organised that she's going to have it but pay the loan instalment (£180 per month) for me! Am really please as is more to apply to other debts.
3. Move all Mystery Shopping money (fees not just expenses reimbursements) when paid to a savings account (ready to pay tax on in April and then use to pay a lump off a debt!) Done - moved £50 over today!

New goals

1. Sort out insurance for sister and get her to pay me a lump sum for that and use of the car!
2. Continue with survey sites - YouGov, Pinecone research, Pureprofile etc. has have been neglecting invitations alot this week!
3. Start keeping a spending diary again to see where exactly those pennies go! I did this before and it was very successful at helping me save, but have got very lazy recently!

Not too many goals for me this week as I'm actually appearing in a show! Singing and dancing in an amateur production in Nottingham so will be very busy!

Am also very excited it's payday on Thursday :T :T :T

Hope you're all doing well

Mirtos

Mirtos wrote:

Debt Now: £15,170.03

Goals for next week:

1) Call court to chase up my bank charges case vs Lloyds after they lost my papers. Done
2) Keep overdraft low enough for me to be able to pay it off with 1 week's wages. Done ish.
3)Keep Quidcoing. Done
4) Have a positive bank balance by the time I post next week. Done
5) Sort out tax code and arrange a refund if possible. Done - waiting for them to sort it out

Ok. I'm annoyed, because I posted all this last night and then my computer crashed!

Debt now £14970.03 Sub 15k! :dance:

Goals for next week:
1) Develop a cushion of at least £100 in my bank account to stop me going in to overdraft through unexpected expenses.
2) List my old phone on ebay.
3) Spend as little as possible to counteract slight overstretching this week.

That's all folks. Hope y'all are well.
xxx

DontDoDebtKids

Well done Mirtos!

DontDoDebtKids

Goals

1) Spend as little as possible (for the rest of this month and the beginning of next month) to minimise damage to current account balances.
2) Mirror balance of my credit card in my savings account to avoid any more unpleasant "oh poo, i have no money" situations again (this is an ongoing goal).
3) Do any YouGov/Pinecone surveys that come up (also ongoing).
4) Update diary with debt totals and spending.
5) Use Orange PAC code to transfer number - need to research a good deal.
6) Claim back £25 (current account) and £30 (joint account) in bank charges from FD
7) Write a few complaint letters to companies to see if I can't get some free stuff/money back.

1) I don't think we should go there....
2) Done
3) Done
4) Done
5) Done - moved to T-Mobile
6) Claimed back £50 in charges from FD, still have another £30 on joint account but need to dig out paperwork
7) Not done - maybe this week!

DDDK

DontDoDebtKids

Goals

1) Spend as little as possible (for the rest of this month and the beginning of next month) to minimise damage to current account balances.
2) Mirror balance of my credit card in my savings account to avoid any more unpleasant "oh poo, i have no money" situations again (this is an ongoing goal).
3) Do any YouGov/Pinecone surveys that come up (also ongoing).
4) Update diary with debt totals and spending.
5) Claim back £30 (joint account) in bank charges from FD
6) Write a few complaint letters to companies to see if I can't get some free stuff/money back.

DDDK