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

Raspberrysauce

I have been busy sorting all accounts out and.... I have cut up all my credit cards and one debit card:j

I will cut up the other debit card after the remainder of direct debits and standing orders have come out of my account for December:T This will leave me with ONE debit card for my main bank account plus one cashpoint card which is for the account where my housekeeping money will be sent. I have also been deleting all my credit card details on amazon, PayPal etc so that I cannot automatically press pay:D

Next job on the list is to ring round and change all my direct debits over to the new account, plus set up the standing orders to pay my debts and money to be sent to the savings accounts to save for next Xmas, birthdays etc... Think I should be pretty much sorted for the new year then and all ready to go for this challenge.

I am waiting for all my statements to come in so I can get a more accurate starting figure but this might take a whole yet, so I am going to add up the figures from the last statements and go with that!

Will update with new total debt figure shortly:)

parsniphead

I have decided to scour the house for pennies as I'm feeling frustrated with having no money to pay anything off. I do get paid tomorrow but that will be moved to my savings account until 1st Jan for next months bill. I would be a dangerous game to leave it in the current account. Ten pounds here and there would mean financial crisis.

I will report back with my findings.

By the way you are all doing really well.:beer:

DorsetGirl_2

parsniphead wrote: »

I have decided to scour the house for pennies as I'm feeling frustrated with having no money to pay anything off. I do get paid tomorrow but that will be moved to my savings account until 1st Jan for next months bill. I would be a dangerous game to leave it in the current account. Ten pounds here and there would mean financial crisis.

I will report back with my findings.

By the way you are all doing really well.:beer:

Good luck with the penny hunt

curioustom

Is it possible to join? I have about £3k worth of debt I want to shift by Xmas 12 at the latest, ideally sooner!

Will update signature soon!

Raspberrysauce

I have just added it all up and it comes to: £10799.26:( could this please be updated on the front page? Not sure if this will go up or down for next month as I know I have put a few things on credit card this month before I joined up here, so we shall see, at least I know that after next months statements are in it will only be going down from then on....just don't know what I spent it all on:mad:

theposhbint

Hello everyone,

Well done with everyone's payments this last week, especially so near to Christmas.

I really need to do some of these challenges, at the moment I'm struggling trying to find the time to come and sit down and read everyone's replies but rest assured in the new year and the children back to nursery/school you won't be able to get rid of me

Lulalolly, really sorry to hear of your purse being stolen and you losing not only the money but something so dear to you. A few years back I had my purse taken on Christmas eve - at a mother and toddler group

theposhbint

Morning all,

I just wanted to say a huge thank you to everyone. Before I found MSE I was in a complete debt-mess, (over £40,000) moving money from one credit card to another, consolidation loans only to keep the cards id cleared going, spending for the sake of it on stupid things and racking up interest on everything. To be honest I dont remember a time when I wasnt in debt - and i'm 35 now!! It sounds so ridiculas now but whenever I caught a glimpse of my total overall debt I always said to myself 'oh something will turn up, I'll pay it all off and all will be rosy again'.

Well needless to say it didnt. I've had several lightbulb moments but my last really hit home. I realised for every £10 I'd put on my credit card I was actually paying off sometimes quadruple that amount, and some :eek: I realise now that there is no fairy godmother coming to save the day, and the debts I have need to go.

The help, support and general loveliness of people on here is just overwhelming. My family (other than OH who has been a rock) have/had no clue of our debts, so I often felt like I had no one to talk to. I'm so grateful for every reply and word of advice.

Pay day tomorrow and instead of sitting here thinking of what I can buy, I'm arranging what I can pay off I've had a £10 note in my purse for a whole week and haven't touched it. For me that is a huge achievement!! Sounds sad I know but in the past money never did last me more than a day, I'd always find something I 'needed'

I'm so looking forward to Christmas 2012 when I can save up and really spoil the kids using the money I'd otherwise be sending to my debts.

Have a great debt-busting day everyone

DorsetGirl_2

Another little payment this morning

£270.24/£7873.87 #130

Welcome Curioustom :santa2:

Natterjack88

Well here goes my first payments for the challenge:

£500 Credit Card Paid off
£100 off another Credit Card paid off!

OH has also given me some money he owed- my bank balance has never looked so good this close to Christmas! And I only have a couple of bits left to get for Christmas and we have even had a few treats. Even the little treats will have to stop in the new year if Im to pay it all off by 12/12. Having said that I want to have enough amazon vouchers for an iPad 2

SOOOO:

(where is the hash button on a mac?....)

anyway..

Number 180 £600/£10000 so 6% paid off

That looks like nothing and I have a long way to go! I need to aim for 8% for the 12 months and its goooooone! Its probably best for me to aim for 10% actually because of interest rates etc, but so what if its paid off early! :P

sharronej

Raspberrysauce wrote: »

I have been busy sorting all accounts out and.... I have cut up all my credit cards and one debit card:j

I will cut up the other debit card after the remainder of direct debits and standing orders have come out of my account for December:T This will leave me with ONE debit card for my main bank account plus one cashpoint card which is for the account where my housekeeping money will be sent. I have also been deleting all my credit card details on amazon, PayPal etc so that I cannot automatically press pay:D

Well done! Great idea :beer: That'll keep you on the straight and narrow :T

theposhbint wrote: »

I've had a £10 note in my purse for a whole week and haven't touched it. For me that is a huge achievement!! Sounds sad I know but in the past money never did last me more than a day, I'd always find something I 'needed'

Doesn't sound sad, it's inspiring and shows how far you've come on your journey - well done!

lulalolly wrote: »

Morning , awwwwww thanks for all your support yesterday when my purse was stolen, you're all so kind.
This thread is a true example of what mse should be about.
L x

Hope you feel a bit better today xxx