11k in 2011 challenge

MoneySpendingExpert2011

skaps wrote: »

Hey following on from last years 10k in 2010 challenge, I have started a new challenge for 2011. The aim is to save/pay off 11k in 2011. So if you are interested let me know and I can add you to the challengers list.

Post your totals as often as you like. If you could post your totals so far in a different colour that would help me to keep the list updated e.g £1 paid off so far.

May I join this challenge please?

Thanks!

MSE!

skaps

Will go and add you to the list.Welcome MSE!

t4mof

Woohoo.. April pay has gone in and it's bonus month for me and OH so very healthy bank balance at the moment. I say at the moment because April/May is also car tax month, home insurance month and DS2 and OH birthdays so all money practically accounted for already.

Roll on next April when I might be able to spend my money on something other than debt (although I have used some of the bonus this year to pay for a week in Majorca in October so can't complain too much).
So first payment of the month has gone to HSBC of £80.

That probably doesn't seem very much but Halifax and MBNA are getting a load later this month.

Off to update the sig and when I make my next payment I will actually go into 4 figures owed - I've been saying that this will happen for 2 months now but with one thing and another we keep hovering just above £10k. Under 10k is going to be such an achievement and I can start to see a chink of light at the end of the tunnel :T

Hope everyone's debt busting is going well and you all enjoy the Easter weekend.

t4mof

Here we go..... £1400 to MBNA which takes us under 10k:j

Accidentally spent £70 on MBNA yesterday (DH didn't have his debit card with him!) but I will pay this off before the next statement but total CC debt is now at £9010 with Halifax still to get their payment.

skaps

Well done t4mof I remember how excited I got when I reached under 10k. What a great achievement.

MoneySpendingExpert2011

Hope everyone has a wonderful Easter break... My first payment of £500 towards the £11k (I am also taking part in the 1 debt in a 100 days, will use all the payments I make in it towards this - can I do this?)

Thanks Skaps!

skaps

Well done on your first payment MSE2011. I'm doing the other challenge too and am definitely including those payments towards this too.

MoneySpendingExpert2011

Thanks Skaps!

Trying to easy myself into debt busting! I have got 250 days to get to the £11k mark, I really should be aiming to repay £4,400 in 100 days rather than the £3k I have set myself. My reasoning for setting the bar slightly lower is to ensure that a. it's realistic and b. I know I will get really demotivated and depressed if I don't make the target!

Oh well, time to stop rambling cause I don't think I am making any sense!

SazM030306

This challenge would be perfect for me! At the end of December we will owe £11662.99 on the loan and we really need to pay this off in order to have enough money to move house. So I'd like to join please! I'll go for a straight £11000 so as not to confuse things

My starting amount in the pot is £2625.14

Saz xxx

t4mof

Welcome to the challenge Saz and best of luck.

Another payment today... £200 to the in-laws.

I've also done my first rounding down payment and it's 6.69 today. I will usually do it on a Friday but with the Bank Holidays I thought I'd do it today and next Tuesday and then start on the Fridays. I'm moving it into a separate account and then will make one payment to MBNA the day before payday.

Told OH today that we should only owe £1500 by the end of the year and now he's on a mission to try and earn it so we can be debt free before 2012 :T

Not 100% sure we'll do it but it's a good aim to have.