This debt must go

starnac

Thanks cheery. I popped to see her yesterday. She's putting on a brave face but I do think she's got a lot of hard work coming her way as everything starts processing. I've told her anything she needs to let me know. Not really sure what else I can do yet.

Anyway on a more cheery note. Pay went in for the extra shift I did at my second job last week. I think I am now being taxed properly (hubby is picking my pay slip up on his way to work) so it wasn't much but again not too shabby either really £33.24 for 4hours work.

The 24p has been moved to my small savings pot and the £33 has been moved into my main account ready to pay off my loan. It says it can take up to 2 hours to move.

My actual loan payment has come out today as well but hasn't come off the balance yet so I don't know how much that actually reduces the balance by. It usually takes one working day for the balance to change so hopefully that'll be tomorrow. Once it updates then I can change my figures on here.

starnac

£33 has appeared in my main account so moved over to the loan. I don't need that to update as I know the whole £33 will be taken off the balance.

Total paid off so far £1533.51/£9827.73 getting there slowly. I am wondering if I can pay off enough this month to get below £8k? As it stands I would need to pay off another £295 to get to that amount. The monthly loan payment still needs to come off that and I have another pay next Friday from my second job to add to. I may be able to do it but it will be tight.

starnac

Just had a sneak peak at internet banking to see if the loan balance had changed and it had. But the wrong way. It had gone up by £32.81 :eek: I'm thinking that this would be the interest for the month. It makes sense that the bank would apply the interest immediately but not take the payment off til the following day wouldn't it??

So I'm thinking now that if that if that is the interest amount (can't see why it would go UP otherwise) then I can work out how much of the monthly payment would actually be deducted from the loan.

The monthly payment is £168.99 so by deducting the £32.81 that makes £136.18 that will get taken off the balance. I had half heartedly guessed around £100 so that's better than I thought.

As I am not the patient type I am going to add it to my total paid off then, if I have to adjust it when the payment clears then I will, but at the moment this is the theory I am going with.

Plus it will give me an idea of how much I need to make between now and the end of the month to get the balance below £8k and whether it is achievable or not.

starnac

So adding the £136.18 to the total paid off gives me £1669.69

That means I would have to pay off another £158.05 to be under £8k (by 1penny :rotfl: ) is this doable? I am not sure.

Cheery_Daff

Sounds like a good challenge to try for! :j :j :j I reckon you can do it

OrangeFairy

Hi Starnac

Don't get too disheartened- I have felt like that recently and have now snapped out of it!

You are doing so well...definitely take on the challenge of getting under £8k by the end of the month.

OF x

starnac

Morning all. Checked banking this morning and my loan balance has updated. I was quite close with my educated guess. The balance is 99p less than I worked out. :rotfl:

So I can knock off 99p from my £158.05 total to pay off by the end of the month!! Problem is "end of the month" is only a week away! Not sure if I am going to manage it. I am quite busy this week and next week presenting the real Easter story to year 5/6 school children so I haven't got a lot of spare time this week.

I am due to be paid on Friday for 3 shifts last week so that should (hopefully) be about £70. I don't know for sure as I am still waiting for my tax code to be sorted out. If it is £70(ish) then that means I need to make an extra £70(ish) this week.

So that 99p is very important. :rotfl:

clearmydebts

Good luck with making the extra money Star!

starnac

Pay day twice today. Once from my main job and again from my second job. I did a few extra shifts last week at #2 so I had a nice surprise when I checked my bank. I was paid £128.43. The £8.43 was moved to a just-in-case savings account and the £120 was paid off the loan :j

So out of the £158.05 I needed to bring my balance under £8k I have paid off £120.99 meaning I have the weekend to find £37.06.

I have listed a few baby things we still have *sob* no more babies for us!!! And have had a bit of interest. Hopefully some of the enquiries will turn into sales over the weekend then I can pay that off the loan too.

OrangeFairy

£37.06? You can do it Starnac!

I love finding out you have more money than you are expecting!! :beer:

I hope you have a great weekend planned and that you get treated for Mother's day xx