wow...it really does work!

rdchick

ooh what a great idea, I need to start working in cash more so I know where its going! xxx

foxgloves

When we were paying down our debts, I discovered that I could actually get a paying-in book for one of our loan accounts. I asked on the offchance & was told they could post one out to me. There was no mention of this when I took out the loan & set up the account. I suppose it's in the bank's interests to keep people paying the loan off as long as possible because they make more money. Once I'd got my paying in book, it was so easy to pay in every little bit of spare cash I had, just like you describe doing yourself. For instance, I'd turn out my tube of 20ps & if there was £10, off they'd go to be paid in. If I sold a couple of things on ebay or someone sold an item on a carboot for me, in it'd go. It was surprising how much quicker this amount got paid off. The bank took the standard monthly payment which was about £60 but all the tiny bits I kept squirrelling away really chipped away at it & kept my motivation levels up. So I can really see that what Kezzy's doing will make a difference.

babyfreckles

Yay! :beer: Well done!

I am on a high note myself too. Finally getting on track with paying my debts and should be debt free by Christmas!!

Doesnt it feel good to see the debt figure going down?

nicnoo99

I did this as well when I was paying down my debts, paying off an amount a day, even if it was only a few pence. It made some inroads into the debt, but more importantly it kept me motivated, knowing that every day I was making some difference to my problem.
Incidentally, about a month after it was all paid off and the card was cancelled, I had a call from the credit card company's fraud department, wanting to question all these little payments - I was gobsmacked. What kind of fraud do they think I was doing paying off 80p? I told them I was just trying to pay back my debt and they seemed satisfied!

misskaytee

Thats Fab OP...No wonder your buzzing :j

kezzygirl

wow...it was included in the moneysaving email!how exciting!
Glad I have encouraged you all...we will beat debt!

burntfingers_2

Well done Kezzy...I have heard of a payment a day but never really thought that it worked....but obviously it does...:T

Congratulations !!:j

neverlearn

Hiya Kezzy and well done :j

I now think I will go and count my 2s and 1s and do something constuctive with it. Be back to tell you what I did.

Thank You

:money:

misskaytee

Ive been inspired by your post Kezzy so Thank you for sharing :T

Ive just checked online banking, but unfortunatly can't move anything around just yet, but also took a look over on the Payment a day challenge board, ive never bothered before because i know i cant physically make a payment every day, but was pleased to see i do qualify for the challenge

I can save small amounts of cash over the month and pay a lump sum into the bank once a month, and i will also be able to pay small amounts online, hopefully starting tomorrow when some Paypal cash hits one of my accounts

I really think this is going to work for me and enable me to clear my nasty overdraft, it sounds silly but i can always find something else to spend £50 or so on, but these small amounts will not be missed and you have proven certainly add up!!

Thanks again :beer:

Sparkerly

I was inspired by this as normally when I get a few quid to pay in it goes into the bank account and disappears. However I counted out my money pot yesterday and have today paid £11 straight to the cc. It may not be much but it all helps in reducing the debt. Going to keep doing this as it will really help keep my motivation going.

Thanks for the tip :T