The "Pay ALL your debt off by Xmas 2012" challenge

fritterprincess

mf0u1098 wrote: »

Hi fritterprincess and welcome to our team, I will put your name and total on the 2nd post! xxx

Thanks! looking forward to attacking my debts and to stop wasting my money!x

suzitiger

Wow already lots of people have joined this thread, so great that lots of people are up to the challenge. I am going to share tips on here of what I am doing to save money this Christmas by making presents for people. I usually go overboard so this will be a positive step for me!! I can't wait for PAYDAY either!! Only 9days to go!

Deniseg4

Can I join too? I have £17550, a tall undertaking, but I am up for the challenge xxx

mf0u1098

RoobyNooby wrote: »

Hi, can I join in please?

I'd like to pay off my £1800 overdraft which I have floated near the limit of for nearly a year now - which works out at £150 a month.

I have just got a new part time job, other ways are going to be

• ebay
• surveys
• more NSDs
• less frittering
• more walking and less getting the bus

I'm sure I can think of more. Please keep me focused

Welcome to the team RoobyNooby! If anyone can keep you motivated it's this group of amazing people. Together we can bust this debt! I'll add you to the team on the 2nd post xxx

jakes-mum

Thank you for updating my debt I shall go and update my sig to show my debt in all its glory and shame me into getting rid of it all!!

mf0u1098

mazy_m wrote: »

Hey all can I join....have swapped a lot onto interest free cards lately so that's made it easier to pay some off wooo!!! Paid a settlement on my car today woo so it's finally all MINE!! woooooo!! although had to use some of my overdraft to pay for it!!!

So as of today I now owe approx: £6,900...although £450 of this is left from a loan that gets paid every month via standing order so this is already added in my budget!!

The good news is that next week when I get paid and my Boyf gets paid and gives me some back.. I'll be able to clear one Overdraft fully so that every single penny I owe won't incurr any interest at all...that's a good feeling in itself as before I dread to think how much I was paying in interest!!

Good luck all it's gonna be hard but we can get there!

Maz x

Glad to have you on the team! My debt is made up of 2 loans (plus 2 CC and 1 OD) which are paid every month by direct debit but it still means I have to save £1100/month in total so it's going to take every penny unless I prop it up with Ebay/Amazon sales or hopefully competition wins...
I'll add you to the 2nd post xxx

kerri_dfw

suzitiger wrote: »

I can't wait for PAYDAY either!! Only 9days to go!

This is a sentence I need to stop saying. I want to be less ruled by the date of payday, and more ruled by a strict budget. This will be my biggest challenge yet I think. I'm always living from one payday to the next.

charleyroo

hey everyone!

Well day 1 of Debt free by Christmas 2012... and I went to the bank to sign the form for my loan! Strangely enough

It's not a terrible debt, and I know I CAN afford the repayments - but I want it gone asap!!! Hence why I'm getting started early lol. I had to take it out over 36 months to get the 6.1% APR but I can make unlimited overpayments so I want to decrease my outgoings as much as possible to maximise the overpayments!

It's strange that deciding to have a loan has given me a proper kick up the bum to get rid of any wastage. Before, I had no goals really, I was just spending money as normal, saving up for things then spending the money. Now, I want everything to be nice and lean and not waste anything, and do myself proud and pay this off by Christmas (well, in my spreadsheet I've aimed for Sept/Oct)

Sooo... the challenge is ON!!!

So far today I have:
- closed a dormant Co Op Privilege Account that was costing me £9.50 a month! (I had to pay £40 to pay off the overdraft accrued from account fees! argh Charlotte!)
- Adjusted my BT direct debit from £26.50 to £16.50 (I don't make any calls! So it should be fine)
- taken lunch to work which saved me £3.25. On my debt free diary I also said I would spend about £2 on coffee at uni but I only spent £1! Which means my coffee tomorrow is already paid for haha
- Done quotes for home insurance (due in March.... am a bit keen) but worked out I can take my house insurance from £25 a month to £15!
- Done my complete housekeeping/money spreadsheet until next August - with 2 lovely months Feb/March where I don't pay council tax! Have increased my mortgage overpayment to £200 a month from January but overpayments on the loan don't start til I come back from my hideously expensive cruise in Feb which I actually wish I'd never booked - I've been accumilating £390 a month in back pay since May and all of that is going on paying for the holiday

I'm confident we can all do this!!!! 405 days!! xxx

mf0u1098

Deniseg4 wrote: »

Can I join too? I have £17550, a tall undertaking, but I am up for the challenge xxx

Hey Deniseg4, welcome to the team! It definitely is a tall undertaking but YOU CAN DO IT!!!! Glad to have you aboard, I'll add you to the 2nd post xxx

mf0u1098

charleyroo wrote: »

hey everyone!

Well day 1 of Debt free by Christmas 2012... and I went to the bank to sign the form for my loan! Strangely enough

It's not a terrible debt, and I know I CAN afford the repayments - but I want it gone asap!!! Hence why I'm getting started early lol. I had to take it out over 36 months to get the 6.1% APR but I can make unlimited overpayments so I want to decrease my outgoings as much as possible to maximise the overpayments!

It's strange that deciding to have a loan has given me a proper kick up the bum to get rid of any wastage. Before, I had no goals really, I was just spending money as normal, saving up for things then spending the money. Now, I want everything to be nice and lean and not waste anything, and do myself proud and pay this off by Christmas (well, in my spreadsheet I've aimed for Sept/Oct)

Sooo... the challenge is ON!!!

So far today I have:
- closed a dormant Co Op Privilege Account that was costing me £9.50 a month! (I had to pay £40 to pay off the overdraft accrued from account fees! argh Charlotte!)
- Adjusted my BT direct debit from £26.50 to £16.50 (I don't make any calls! So it should be fine)
- taken lunch to work which saved me £3.25. On my debt free diary I also said I would spend about £2 on coffee at uni but I only spent £1! Which means my coffee tomorrow is already paid for haha
- Done quotes for home insurance (due in March.... am a bit keen) but worked out I can take my house insurance from £25 a month to £15!
- Done my complete housekeeping/money spreadsheet until next August - with 2 lovely months Feb/March where I don't pay council tax! Have increased my mortgage overpayment to £200 a month from January but overpayments on the loan don't start til I come back from my hideously expensive cruise in Feb which I actually wish I'd never booked - I've been accumilating £390 a month in back pay since May and all of that is going on paying for the holiday

I'm confident we can all do this!!!! 405 days!! xxx

That is fantastic to hear charleyroo, I love what you've done to try to decrease your spending the "painless way" by switching providers or lowering your limits that you didn't need. Keep us updated!