£18.5k in 18.5 months - Starting yesterday

JDGB999

I have Storm. (link to Snowball Calculator here for others)

Amazingly enough my mental approach to clearing these debts was the same as the Snowball Calculator which was good to know!

oops_a_daisy

Quote 'Also I have looked at my life insurance and home contents insurance and realised I am paying over the odds. Come Feb / March they will be getting moved and NOT renewed as I normally do!'

just a little point, you do not always need to wait till the renewal dates for home insurances - I didnt so changed mine and started saving straight away. Not sure about the life insurance though but worth a look at the policy or phone call.

Your doing really well - great start

JDGB999

I have looked at the life insurance and the house insurance - moving at this point in time is not an option. Never mind!

Got a letter this morning regarding a credit card which I haven't used for a while (no balance) offering me 0% for 5 months. Obviously I am going to move my OD onto it - I'd rather pay the one off fee to move the balance than the interest I am paying on my OD every month!

It seems like starting this project I have been blessed with some good fortune... may it continue

lynzpower

dont forget to join quidco for when you are doing your switches, if you havent already. Im about to move my contents insurance, which will give me about 100 quid cash back. Not bad its the same price as im paying per month if not a tiny bit ( pence) cheaper.

Do check this out.

JDGB999

Thanks for that... I discovered that I could have got money back for my phone transfer. Never mind - i am sure I have wasted more money than that over the years before I saw the light

I will certainly be using Quidco in the future wherever possible... are there any others I should be aware of?

weemee

Linemypocket if quidco doesn't have the retailer can be ok.

JDGB999

Well here I am, the 1st of the month and as promised an update one month after kicking off this challenge to myself.

I've had quite a busy month but not managed to pay off as much as I had hoped - still it is early days and I am sure that I will still reach my DF goal.

In October I:

• Moved Gas & Electricity to a duel fuel single suppler saving approx. £15 / month
• Moved phone supplier saving £7 per month
• Cancelled Sky and replaced with freeview saving £40 per month
• Downgraded home care package (I can't cancel as my boiler is shaky and winter is coming ) saving £8 per month
• Seriously cut down on spending
• Made £100 profit from ebay (which I haven't taken from my total yet)
• Shifted my overdraft from daft interest to a 0% credit card - I had to pay a fee for the pleasure but the money saved on following months is well worth it saving at least £500 over the next year

I know I haven't set the world alight this month in terms of the actual debt quashed however, along with my personal spending budget (which I now have), money saved on a monthly basis (as above) I think I have knocked about £1500 off my debt over the next 18.5 months. (Obviously the money I will be saving in these areas will be put towards my debts and not spent!)

I am now very aware of my financial position - something that I have taken for granted for so long (look where it got me :rotfl: )

18.5k in 18.5 months - bring it on

Hope everyone else is doing well on their DF mission. Have a happy November and see you all in December

Storm

£600 in one month is a brilliant start, plus your £100 from Ebay! So here's a big clap for you :T

LittleL_4

You're doing really, really well and I look forward to watching your progress. You sound very determined which is half the battle. Well done you :dance: :dance: :dance:
L
x

JDGB999

Thanks for the encouragement.... this board is so important to helping people keep going.

Thanks