All out for debt free by xmas

rictus123

Got about £10k of loans to go and £4k car finance*too early to hand back and car is "worth" £3.5k apparently so will sell to make up difference...

Been around here for a good 4 years now...right now i find myself ready to tackle this head on and dump the debt for good. Im only 20 yet going round in circles, taking on an extra £1k or so every time i go round!!!

Lesson learned, time to deal with this debt, move on and remember budgeting is key.


would like to set me debt free date as 23rd dec 2011.....

hopefully last time im ever in debt apart from mortgage.
Loans and car finance total comes to £775 a month :eek:

If thats not proof its time for a change, i dont know what is! Going to get rid of that asap! £9,300 a year is so bad :mad:


But at least, sticking to this goal/challenge iv set myself means i will have an extra £9,300 to put into deposit fund over the course of next year! Shows i can easy afford to save that as im managing fine paying that to bank just now!!!

rictus123

As of 11/10/11 -

£10,203.05 owed accross 3 loans

£4,000 on car finance

total of £14,203.05 owed.....paying this off by xmas is 4734.35 a month....i have 2 tricks up my sleeve so debts should be down to about £5362 as soon as car is gone.....

so will be down to £1790 a month paid off to be free by xmas....wont be easy with my job being effected by winter weather...so im going to have to earn it this next month and a half before extrememly bad weather kicks in......

rictus123

I am very sure I will manage this. Really need to get my finger out and get on with it. Payday Friday, that will cover a months expenses. Payday this Friday will be the start of my new debt free future. Iv got a bit of cash just now so will be using this to pay off a loan asap. Small steps. Only got 3 loans so hopefully get rid of 1 a month...first one the biggest and on Friday.

shezam

Look forward to hearing about your journey.

You can do it!
Sx

JustinCredibleGillespie

Me too. I'll be following your progress

JCG

xx

boschiba

sounds like you're doing brilliantly!

rictus123

Thanks guys...been in this position 3 times now where iv said its time to get rid...always make a good start then something pops up and I ruin all the hard work. Only 3 and a half months to Xmas, I'm sure I cs. Do it! Just got to be careful I don't pay it all off then I am short in January!

rambo29

rictus123 wrote: »

As of 11/10/11 -

£10,203.05 owed accross 3 loans

£4,000 on car finance

total of £14,203.05 owed.....paying this off by xmas is 4734.35 a month....i have 2 tricks up my sleeve so debts should be down to about £5362 as soon as car is gone.....

so will be down to £1790 a month paid off to be free by xmas....wont be easy with my job being effected by winter weather...so im going to have to earn it this next month and a half before extrememly bad weather kicks in......

Could you tell us what these tricks are that you have then we could all clear that much debt off in a few month

rictus123

Well I own 3 motors. So sell 2 an with that money pay off finance plus the money I'm owed from family iv helped out I will be down to 5300 by the end of this month. So 2650 a month to find to get free of this 775 a month payments I'm currently making.

GAH

Good luck OP. Its just over 10 weeks to christmas though, not 3.5 months.

rictus123

I meant 2 and a half...sorry. well iv got 6 pays till end of year....should be about 7,500 in. Really up for getting this sorted then nothing to stop me saving for a deposit. Should only take a year.