another debt free story

MFWannabe

joshua_blue wrote: »

nice one andy... well done :beer:

one of the dilemmas i have is this....

i have 5 cc's

highest apr: £5.8k has 21.9% apr
lowest balance: £2.8k has 7% apr

my calculation is roughly:

overpay card 1 by £100 p.m. clear in 28 months
overpay card 2 by £100 p.m. clear in 17 months

i try to overpay the highest balance card but find the fact im unable to get anywhere near clearing it in a decent timescale totally de-motivating & i have read differing views that an alternative strategy is to attack the lowest balance card 1st irrespective of apr's... then move to the next lowest balance card

any comments from more experienced debt busters

Hi Joshua
You should start a new thread; otherwise your post may well get lost in this one. Also post an soa so people can see all incomings and outgoings so they can best advise where you can make cutbacks and this will also list all your debts and APR's

andymc29

well done Andy!!!! really good work there.

I'm in teh middle of my debt free journey, but no where near as disciplined as I should be. I'm sat at my desk now eating a £3 ready meal from Tesco (it's very nice though). I could made my lunch for under a quid then had an extra £2 for debt overpayments.