Pay off as much as you can in 2011 Challenge!

jwil

mmikailian wrote: »

Hi All Monthly update £335.63 paid off yesterday as paid day which means I have now paid off the following:

£6179.87/£15,492.37 = £9,315.40 outstanding

doing well but i now have a problem do i continue making over payments to my loan as i was hoping to clear this year? I have been informed yesterday that there is a propasal to delete my job which if not successful in get anything else means i will be issued with reduncency notice from the 1st June the question i am asking here is would you continue paying off large lumps had been doing £1000 per month over payments or would you save it just in case and go back to paying the loan amount? really not sure what to do any advice?

I would consider whether you have any savings now, and what redundancy package you would get if the worst happens. If you get a decent redundancy package that would see you through a few months and/or have some savings, I would carry on overpaying. If not however, you should probably try and put enough away to see you through for a few months. If you do get another job quickly, you can always then put this extra money towards the loan anyway.

jwil

Thanks for the updates everyone, it seems like there's quite a few of us waiting for payday.

My credit card DD has been taken today, so that's £69.84. With my new dislike of non-rounded numbers, I'm going to send an extra payment of £5.16 to make it £75.

I'm off to the wilds of Yorkshire for a few days tomorrow, so probably won't be on much until Monday. Keep up the good work though!

goodgirl80

I'm hoping my 'loan' payment will be closer to £400 for April! Going to try and get down to 3.5k next month. As long as I can get my cashback paid. Will 'save' some of my expenses (usually goes in to bills account for petrol) to put towards this. Getting excited again..!

jwil

S*d it, my non-round numbers are annoying me again, so I'm going to wing over another £31 to get me into the £175k's, and that makes me having paid off over £3900 this year so far :T:j

runninglea

Hi Jwil - can I be a pain and amend my total for the year to include my car loan. I have updated my signature - the total I have paid off this year is £5,184/£14,798.

Sorry I have amended both my total for year and my predicted (number 19)

sarahs999

jwil wrote: »

Ooh, is 3000 when you get your 4th medal? I've often wondered when that is.

You spend productive time on here though as you give good advice

No, I think it's around 2,800. Or maybe 2,500. Can't remember now, seems ages ago. Just remember suddenly seeing I'd moved up in the MSE echelons!

boysma

Morning all (just)

Paid £9.33 to cap one cc this morning to round my total up to:

£2,500/£10,000 25% paid off:j

Walnut

£15.50 overpaid today:)

£316.58/£4000

Walnut

boysma wrote: »

Morning all (just)

Paid £9.33 to cap one cc this morning to round my total up to:

£2,500/£10,000 25% paid off:j

Well done on paying 25% off:T:T

BirdSeed

Hi everyone

Another £564.75 paid this week. I'm going to try and pay more off this month to clear some outstanding bills completely.

Signature updated to reflect this.