Time to ditch the debt!

jmf76

Thanks Buffy - I know I will get there eventually!! x x

clearmydebts

Wow,

I have just found your diary now. It is amazing. Well done on making such dents into it, especially as you got married as well! I am definitely subscribing. IN fact I may nick your month to month diary. It is so neat and motivating!

jmf76

Thanks for all the support guys - it means a lot xxx

Well I've been busy job-hunting this month, no news as of yet but fingers crossed I'll hear something in September. Also been reading another thread on here which has the excellent idea of making a small debt payment as often as poss - A payment a day... - which I've started to do over the last week and aim to keep up with over the following month - I'll let you know how I get on.

Debt
Debt Interest Rate Current Balance
Virgin 0% for 15 months [strike]£4020.46[/strike] £3,969.00 :beer: wahoo under £4k!!!
Goldfish 3.9% until July 2010 [strike]£2704.21[/strike] £2,657.78
Amex 4.9% life of balance [strike]£2664.05[/strike] £2,607.85
Student Loan 4.8% [strike]£1658.74[/strike] £1,592.50
M&S 3.9% life of balance [strike]£1259.22[/strike] £1,231.86

Overall debt total [strike]£12306.68[/strike] £12,058.99
Since last post - Debt reduced by: £247.69 :rotfl::T

Debt at worst: £18,039.83
Total debt paid off: £5980.84

Next Target: Get below £12k! / Pay off Virgin by Xmas
Next Month's challenge: Job hunting & A payment a day

jmf76

It's been a good month...

Firstly got a new job! Start in Nov so can finish my current job and get my redundancy & loyalty bonus which will be used to get rid of a huge chunk of debt!
Secondly just been on honeymoon - as our original plans had to be scuppered due to redundacy and due to my new job start date we went for a few days to Spain, all last minute so got a good deal and had a lovely time, ate too much, drank too much (the usual!)... well when it's all-inclusive, it's rude not to!
Thirdly had to use the Amex card whilst on holiday so this is now my priority to get paid off first - however with redundancy money I'm hoping I can get rid of it within the next month, 2 at worst.
Lastly the 'a payment a day' idea worked really well for me for the first couple of weeks, but being abroad meant I couldn't keep it up. However I will be re-doing it again this month.

Right the stats bit...

Debt
Debt Interest Rate Current Balance
Amex 4.9% life of balance [strike]£2,607.85[/strike] £2,632.21
Virgin 0% until March 2009 [strike]£3,969.00[/strike] £3,960.00
Goldfish 3.9% until July 2010 [strike]£2,657.78 [/strike] £2,612.48
M&S 3.9% life of balance [strike]£1,231.86[/strike] £1,205.10
Student Loan 3.8% [strike]£1,592.50 [/strike] £1,506.58

Overall debt total [strike]£12,058.99 [/strike] £11,916.37
Since last post - Debt reduced by: £142.62 :rotfl::T

Debt at worst: £18,039.83
Total debt paid off: £6123.46

Next Target: Amex paid off asap
Next Month's challenge: A payment a day

jmf76

Well my old job is now over so was unemployed at the beginning of the month. Now started my new job and all is going well. Due to the upheaval I haven't done anything recently re: debt, but will be doing so now due to getting some of my redundancy money, so a mid-month posting will appear shortly...

Debt
Debt Interest Rate Current Balance
Amex 4.9% life of balance [strike]£2,632.21[/strike] £2,852.56 :mad: (used it on holiday!)
Virgin 0% until March 2009 [strike]£3,960.00[/strike] £3,935.00
Goldfish 3.9% until July 2010 [strike]£2,612.48[/strike] £2,567.76
M&S 3.9% life of balance [strike]£1,205.10[/strike] £1,149.33
Student Loan 3.8% [strike]£1,506.58[/strike] £1,409.30

Overall debt total [strike]£11,916.37[/strike] £11,913.95
Since last post - Debt reduced by: £2.42 !!! :rotfl::T

Debt at worst: £18,039.83
Total debt paid off: £6125.88

Next Target: Amex & Virgin paid off asap
Next Month's challenge: Let the dust settle after a crazy few weeks...

jmf76

I'm sub £10,000!!!! (hence the mid-month post!) Part of my redundancy came through last week so it's all gone straight onto the debt!!

Debt
Debt Interest Rate Current Balance
Amex 4.9% life of balance [strike]£2,852.56[/strike] £900.00
Virgin 0% until March 2009 [strike]£3,935.00[/strike] £3910.00
Goldfish 3.9% until July 2010 [strike]£2,567.76[/strike] £2,524.04
M&S 3.9% life of balance [strike]£1,149.33[/strike] £1,123.67
Student Loan 3.8% [strike]£1,409.30[/strike] £1,326.20

Overall debt total [strike]£11,913.95[/strike] £9,783.91
Since last post - Debt reduced by: £2,130.04 !!! :rotfl::T :j:beer::j:T

Debt at worst: £18,039.83
Total debt paid off: £8,255.92 !!! :beer:

Next Target: Amex & Virgin paid off asap
Next Month's challenge: Amex & Virgin!!

clearmydebts

Well done! It must be a brilliant feeling to be under 10k!

jmf76

Amex card was paid off in full this morning. And a big chunk of Virgin too.
:beer::beer::beer::beer::beer::beer::beer::beer:

jmf76

Amex was officially closed today & card cut up as the final payments had cleared. Virgin is also paid off although monies haven't cleared yet, but to keep me motivated I thought I'd review now Amex has gone and then i can hopefully knock off Virgin in my normal end of month review

Debt
Debt Interest Rate Current Balance
Amex 4.9% life of balance [strike]£900.00[/strike] £0 :j:beer::j
Virgin 0% until March 2009 [strike]£3,910.00[/strike] £3,800.00
Goldfish 3.9% until July 2010 £2,524.04
M&S 3.9% life of balance £1,123.67
Student Loan 3.8% £1,326.20

Overall debt total [strike]£9,783.91[/strike] £8,773.91
Since last post - Debt reduced by: £1,010 !!! :rotfl::T :j:beer::j:T

Debt at worst: £18,039.83
Total debt paid off: £9,265.92 !!! :beer:

Next Target: Virgin paid off asap
Next Month's challenge: Virgin before end of this month!

jmf76

Virgin paid off yesterday and officialy closed today :beer::beer::beer::beer: