Pay off as much as you can in 2011 Challenge!

kavics17

Back from our family visit. I am happy to report that we managed to bring back £3330-this is the difference between our investment property mortgage and rent-took us appr. a year to save it up. Originally wanted to put this money towards the mortgage but as our loan's interest is higher, we will put it towards Tesco's. Also regular loan payment out so today's overpayment is a total of £3648.43. I will make an overpayment later this week from my salary but first need to see how much is left in bank account after bills.

Running total is:

2. £14066.52/£19.200+

boysma

Another 5.00 paid off cap one this morning. Running total now:

2925.35/10,000

sarahs999

£107.24 to Tesco clubcard . Looking forward to the total today Jwil - think we've had a last minute surge!

sarahs999

kavics17 wrote: »

Back from our family visit. I am happy to report that we managed to bring back £3330-this is the difference between our investment property mortgage and rent-took us appr. a year to save it up. Originally wanted to put this money towards the mortgage but as our loan's interest is higher, we will put it towards Tesco's. Also regular loan payment out so today's overpayment is a total of £3648.43. I will make an overpayment later this week from my salary but first need to see how much is left in bank account after bills.

Running total is:

2. £14066.52/£19.200+

Wow! That must feel great. Good plan not to overpay the mortgage - I am itching to as we are on a tracker and this is the lowest our payments will ever be, but really need to clear the CCs first. And of course I'm sure by the time we manage that the interest rates will have shot up :mad:

jwil

Thanks for all the updates everyone. Sorry for the delayed total posting.

Well, we smashed last month thanks to some hefty last minute updates, and our total for April is:

April - £69,316.73 :T:T:T:T

And a total paid so far of:
£276,365.32 :j:j:j:j

Well done everyone, lets see if we can break the £70k mark this month!

jwil

My_life wrote: »

Hi everyone - number 37 reporting in.

Good and not so good news from me this month. On the good side I have now managed to pay off a total of £12,400 since the beginning of the year. On the not so good DH has taken out a car loan to replace the main car that died. We tend to buy 1 year old cars and keep them 8 or 9 years - so this will last us way beyond the 18 months loan.

In order that this loan does not put our debt free date back, we have decided that we will increase our target now from 24,000 to 31,000 - so JWIL please can you update me to

number 37 £12,400/£31,000

Yes, no problem, I'll change it.

jwil

runninglea wrote: »

Sorry me again - only got 1 last payment of the natwest loan - so :j:j£307 per month better off from June:j:j

Great news! :j

jwil

newlifeahead wrote: »

I am not sure how to include this payment.

I was offered a 50% F&F for my Natwest overdraft so I have paid £485 and they have written off the rest of the debt.

Would it be cheating if I said this was a payment of £977.13 as this was part of what was in my £6000 to pay off this year?

I think it's entirely up to you newlife. Obviously your debt total has reduced by £977.13 so technically it has been 'paid off', though I suppose you could always reduce your target by the extra instead.

I'm happy however you want to count it!

jwil

sarahs999 wrote: »

Why does everything go wrong at once? Just as I felt like we were starting to make some proper headway with or debts, my computer starts acting up, our patio doors urgently need replacing before they collapse on someone, and our shower stops working. Bah!

Oh no, how annoying! Our patio doors are cracked and the cracks are expanding rapidly. We keep trying to put it off as the replacements are very expensive, but it's not going to last much longer.

Hopefully though that is your 3 things over and done with now though!

jwil

rubywhatashmoo wrote: »

Paid another £300 off this month - finally past the halfway mark of my total debt!! _party_

Total paid this year: £1300/3435

Well done! :j