Does the extra few quid here and there REALLY make a difference?

DVardysShadow

Whether it is all one big debt or a number of little ones,overpaying is good, because it reduces the time to go. You might not see much difference with one big debt, but if you pay off a small one in full by overpaying, you can immediately see the monthly payment come free for paying off another debt.

piccalilli_2

I agree, it really can start to make a difference very quickly. We've been throwing the extra £10-20 from ebay profits to one of our CC's, and from the balance going up by about £15 a month from interest, last month we actually paid £5 of the balance!!!! A little triumph but baby steps all the way....

dumpy

It also shows that you have had a mind change about your debts.

It's so easy to say it's only £5 for that and £10 for that but it can blow your budget if you do this regularly.

Look at the thread "what have you to show for your debt", that shows how debt can be run up just living beyond your means.

ms_london

Oh yes definitely, even if it just acts as a bit of extra motivation that you are doing all you can to clear your debt. And if you are like me you like seeing round figures, so that extra £5 or £10 does count, better off your debt than spent on crap!

I've just made £30 on ebay, may not be a lot in the scheme of things, but that's almost my weekly budget, whoo. xx

saltnvinegar

I think everyone has answered your question by giving reasons but I am going to quote Meg Ryan in answering your question

Yes, Yes, Yes, Yes!!