One Debt Vs 100 Days - Take 4

savingholmes

Hi please can I join

I need to pay BOA 2773 and PO 2892 by xmas as the 0% deals run out on both then....

I am having £600 worth of help towards this from MIL as birthday present for OH's 40th! And my mortgage has just gone down by over £500 a month from August so just hoping bank of England rate doesn't rise any time soon as we have been on a really high fixed rate up until now!

If we keep our jobs should be tough but doable...

Aim in September to repay
£1700 to po
£28 to Boa
(plus £27 to another card)

Aim in October to repay
£1192 to po
£150 to boa
(plus £27 to another card)

Aim in November to repay
£1300 to boa
(plus £27 to another card)

Aim in December to repay
£1294 to boa
(plus £27 to another card)

That will then leave us with 1 CC to be repaid by March, plus MIL loan plus student loan....

bigbeff

ehallett wrote: »

Hi Michelle and everyone else

I would love to join in. I have attempted these challenges before but have never completed one. However, my OH is moving in at the end of November which will half my monthly bills saving me £400 so I know that I can do them now .

Please put me down for £400 to pay of my sofa which is on my mum's credit card.

I will be away for the start of the challenge but will be back on 6th September with a bang .

Thanks for running the challenge Michelle :A

Emily xx

I'm in a similar situation Emily, I have just moved in with my other half and technically I will have about £400 a month less outgoings, and I am getting a payrise in my new job that starts next month I reckon technically I should be able to pay off about £600 a month....if I can I'll be debt free by next Sept (although I aim to be debt free before that!!)

SuzyWuzy_2

Im actually quite amazed at the amount of money that we are all trying to pay off here. I must confess that I've never joined this thread before so I don't know if it's normal or not but we all together are aiming to pay off a huge amount. Scary really.

I have a love / hate relationship with money !

I really don't know how Im going to do it myself as OH has just started a new job and hasnt got paid for 6 weeks so we really dont know what he's coming out with at the moment. Oh well its all part of the fun!

Good luck everyone!

Michelle - Can I be cheeky and ask where we are at for the total so far please? Just out of interest

cha97michelle

We are at £62,397.67 pledged to clear.

I agree some amounts are high, but remember it is an aim, and better to try your hardest. In the last challenge, people met their targets and then set new ones and did better than they expected, so just go with it and do your best.

Someone asked about the tax rebate. The last two times my hubby has filled in his self assessment online we have had the rebate back in our account a week later. We had quite a large one during the last challenge.

izzoh

I am so excited qbout the new challenge. I surprised myself in the last one so I really want to push for this one...

I have to get motivated and list my ebay stuff and really get into some good review writing.

In regards to the tax rebate.. is it worth anyone trying to make a claim? I have worked for 8 years (since leaving college) paying tax etc... so do you think it is worth seeing if they owe me anything???

pinkarsenalprincess

izzoh wrote: »

In regards to the tax rebate.. is it worth anyone trying to make a claim? I have worked for 8 years (since leaving college) paying tax etc... so do you think it is worth seeing if they owe me anything???

You will only be able to reclaim tax for the past 5 years. Do NOT use a claim company as they will take a ridiculously high commision.

I had to write a letter to my tax office explaining how much I thought/knew I was owed, with my P60 and P45 for years I was claiming.

amiehall

izzoh wrote: »

In regards to the tax rebate.. is it worth anyone trying to make a claim? I have worked for 8 years (since leaving college) paying tax etc... so do you think it is worth seeing if they owe me anything???

If you've stayed with the same employer then you're likely to have paid the right amount of tax. Mine went all wrong because I had 4 different jobs last year as well as two separate JSA claims. So tbh they didn't really have a chance at getting it right....

cha97michelle

Depends on your circumstances. With us, DHs tax code was wrong and they overtaxed him. They have been doing it for about 2 years, so about every 6-12 months we get a nice bonus but we can struggle from time to time.

I once claimed when i had been working a 2nd job for a short while as a favour to my old boss, and got charged high rate tax but didn't earn more than my tax allowance. I also claimed back some union fees.

Just seen an email that i have sold one of my old teaching books, so £8.85 to come to me, and i think it will be once the challenge starts.

And one item listed on ebay last night has 20 watchers and 2 bids already, finishing on Sunday, so i want a lovely bidding war to get me started. :D:beer:

savingholmes

amiehall wrote: »

If you've stayed with the same employer then you're likely to have paid the right amount of tax. Mine went all wrong because I had 4 different jobs last year as well as two separate JSA claims. So tbh they didn't really have a chance at getting it right....

I think I was taxed wrong last year as I had a number of different employers and lots of jsa claims in between plus time off sick... I haven't done anything about it yet tho - perhaps I should! I am hopeful that when they get the p60s in from the various sources they will write to me? Perhaps I am being naive?:o

amiehall

savingholmes wrote: »

I think I was taxed wrong last year as I had a number of different employers and lots of jsa claims in between plus time off sick... I haven't done anything about it yet tho - perhaps I should! I am hopeful that when they get the p60s in from the various sources they will write to me? Perhaps I am being naive?:o

They won't chase this up at all if you've overpaid. You should collect up all your P45s and P60s for the relevant tax year and add up all your gross income and all your tax and see if it works out properly. This website is a big help for working out what the tax on the annual total should be http://www.listentotaxman.com/

If it's not right, you should collect up all your documents and send them with a letter to HMRC spelling out that your tax is wrong.