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

twoboysmamma79

Hi mfou1908 can you please put us down for £8500 please !!!!! We are determined to pay off our credit card and overdraft in 2012.
We will be reading up for lots of tips from you clever MSE'rs :money: Good luck everyone XXXXX

Kerfuffle

mf0u1098 wrote: »

Thanks guys, you've really helped! Love the idea of keeping the money in a savings accounts to earn interest then paying it in at the last minute. I'm thinking of using Tesco as you only have to pay in £100 to get £6 back so it works out better than Asda. Or I could be greedy and use both Asda and Tesco and get an extra £12 in November! *cue vincent price greedy laugh...*

mf0u1098,

The Tesco scheme definately sounds better, so I'd go for this one too.

If I thought I was going to spend 200.00 I'd get 2 Tesco cards though

You could actually go on forever, why not get a years worth in advance, unless your savings account offers a higher interest than 6% this is a pretty good deal.

ETA: I guess it's too late to do it for this Christmas, but definately worth thinking about for Christmas 2012, when you're debt free!!

mf0u1098

Kerfuffle wrote: »

mf0u1098,

The Tesco scheme definately sounds better, so I'd go for this one too.

If I thought I was going to spend 200.00 I'd get 2 Tesco cards though

You could actually go on forever, why not get a years worth in advance, unless your savings account offers a higher interest than 6% this is a pretty good deal.

ETA: I guess it's too late to do it for this Christmas, but definately worth thinking about for Christmas 2012, when you're debt free!!

That's my idea exactly! I can use the money that I'm saving in the VSP challenge and then transfer the money over to Tesco*/Asda in October 2012 and then get my £12 bonus vouchers!!! Oooooh that would mean that not only will I be debt free but that I'll also have oodles of money to spend on an amazing christmas...:j:j:j

*from what I've read, you don't get any of your clubcard vouchers until the November statement but can top up during the year and then get a £6 bonus voucher if you've topped up over £100 (£3 if over £50). This means I think that you can only have 1 xmas savings account per person...? Unless maybe you have more than one clubcard account???

mf0u1098

twoboysmamma79 wrote: »

Hi mfou1908 can you please put us down for £8500 please !!!!! We are determined to pay off our credit card and overdraft in 2012.
We will be reading up for lots of tips from you clever MSE'rs :money: Good luck everyone XXXXX

Welcome to the team!!! If you want to look at kerri_dfw's #10 post on page 1 then she's provided a list of challenges here on the forum and also has produced a brilliant list of tips for extra debt busting.

If there is anything that you are unsure about (jargon on here especially) or want to know how we are doing this debt busting then please just ask! xxx

theposhbint

mf0u1098 wrote: »

That's my idea exactly! I can use the money that I'm saving in the VSP challenge and then transfer the money over to Tesco*/Asda in October 2012 and then get my £12 bonus vouchers!!! Oooooh that would mean that not only will I be debt free but that I'll also have oodles of money to spend on an amazing christmas...:j:j:j

*from what I've read, you don't get any of your clubcard vouchers until the November statement but can top up during the year and then get a £6 bonus voucher if you've topped up over £100 (£3 if over £50). This means I think that you can only have 1 xmas savings account per person...? Unless maybe you have more than one clubcard account???

I've signed up for Tesco Christmas Savers for next year too, I'm going to round up my shopping and just pay it onto my clubcard, should easily make the £100 by Oct

Can't wait til Boxing Day when I can start saving. It's a shame though that you can't pay in online at all as I usually do a big monthly shop online. I do pop in every now and then though for essentials so I think I'll add the money to a tin and just remember to take it with me.

Kerfuffle

mf0u1098 wrote: »

That's my idea exactly! I can use the money that I'm saving in the VSP challenge and then transfer the money over to Tesco*/Asda in October 2012 and then get my £12 bonus vouchers!!! Oooooh that would mean that not only will I be debt free but that I'll also have oodles of money to spend on an amazing christmas...:j:j:j

*from what I've read, you don't get any of your clubcard vouchers until the November statement but can top up during the year and then get a £6 bonus voucher if you've topped up over £100 (£3 if over £50). This means I think that you can only have 1 xmas savings account per person...? Unless maybe you have more than one clubcard account???

Hi mf0u1098,

Not sure exactly how it works as I'm not in the UK, but based on the information you're giving me on here, not getting the clubcard vouchers until November wouldn't be an issue if you weren't getting the saving scheme card until the November anyway. Does the saving scheme card have to be linked to a clubcard? If it does, what's to stop you getting a clubcard account in different names, ie one with your first name, and one using your middle name (if you have one), using your mother's name, using your father's name etc.

Find the loopholes! :rotfl:

mf0u1098

:xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree:
:snow_laug Only 373 days until we are DEBT FREE!!!! :snow_laug

:xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree:

mf0u1098

:T:T WELL DONE!!! :T:T

You are all doing amazingly well on your debt busting, every penny off your debt is a fantastic achievement xxx

Also,

:j:j:j WELCOME :j:j:j

To our new team members! It's never too late to join and kick this debt booty!

xxx

mf0u1098

Important Notice

To help me run this thread easily, could you please all post your totals in large text and in a bold colour, i.e.:

£265.43/£7685.67
(where the first amount is the total you have paid off so far in this challenge and the second amount is the total you pledged to clear by Xmas 2012.

It would also be a big help if you could also put with it your number from the 2nd post.

i.e. another £50 paid off so now the total for
#001 is £315.43/£7685.67

Cheers, mf0u1098 (aka Jemma) xxx

mf0u1098

Kerfuffle wrote: »

Hi mf0u1098,

Not sure exactly how it works as I'm not in the UK, but based on the information you're giving me on here, not getting the clubcard vouchers until November wouldn't be an issue if you weren't getting the saving scheme card until the November anyway. Does the saving scheme card have to be linked to a clubcard? If it does, what's to stop you getting a clubcard account in different names, ie one with your first name, and one using your middle name (if you have one), using your mother's name, using your father's name etc.

Find the loopholes! :rotfl:

OOoooooooh I'm loving this idea! You are brilliantly devious :rotfl:xxx