Dfd here i come

edi68

Hi I am an mse addict but never posted on dfw before so if I dont do things right please advise. Myself and my OH have 7k to clear this consists of 2 ccs and 2 loans I felt the need to post as a kind of celebration that hopefully by summer 2012 we will either be debt free or very close.

CC1 3,800 dec 2010 now 1,500 hope to clear this in next couple of months. This is on 0% till september it was the biggest 1 to clear and the sooner it is clear we can move to clear the rest.

Car Loan 2,500 hope to clear this before xmas.

CC2 aprox 1,350 very low interest till balance is clear still needs to go.

Loan for new kitchen last july 2,500 on 0% for 2yrs Im estimating the balance of this to be 1,600 by the time we have cleared all the above there shouldnt be much outstanding.Its challenge short term to clear it all but the rewards long term should be enormous.

Tixy

Hi and welcome to DFW.

Sounds like a good plan of action you have there. You might want to put all your figures and APRs etc into the snowball calculator to see how long it will take you to pay them off, or how much you need to be paying each month for them to be clear by next summer.
http://www.whatsthecost.co.uk/snowball.aspx

Good luck

edi68

Hi and thank you so much for replying the plan for now and as of jan this year is we are living of my wage (we have seperate wage accounts) leaving OH account alone as much as possible we have a spreadsheet on laptop listing all outgoings from his wage so we can see what is left after all dds have been payed and whatever is left after any spending is used to repay we try to aim for a min of £400 per month this ok for now but will probably have to look again for car loan due to interest will have a look at calculator at some point .

Thanks again for replying.

LandyAndy

Why are you clearing the 0% CC before the one that charges you interest?