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

HelenPie

Can I amend my starting total? It turns out I had added an account balance to the debt figure that was in credit, not debit - good news! However, more good news leads me to show an increased debt total. My student loan is coming to an end! :j I am therefore going to add the balance to my debt total as it will be moving to payment by direct debit from February (no payments in Dec/Jan during the changeover). I've usually excluded the balance from my debt calculations, much as I do the mortgage, as it's just one of those things that's always there, but now I know the balance and that the end is in sight, I feel it should make up part of my sums......
Finally, I had calculated a net figure after any credit balances but as most of this is already "spent" in anticipation of the wedding, I think it will distort my figures, so debts only.

Ramble ramble.

Anyway that brings my new figure to: £16,522.79 as at the start of the day today.

Going to put the breakdown here so that I have it as a record:

Natwest Overdraft: £113.56
Barclays Overdraft: £428.40
Virgin Credit Card: £4,000.03
Natwest Loan: £10,174.05
OH's overdraft: £575.00 (est.)
Student Loan: £1,161.91
HP Loan: £69.84 (est. final payment due so may be slightly out)

Total: £16,522.79

HelenPie

Jan2011 I wanted so say a special hello to you, as I was in your position at your age, after being very bad with my finances before, during and after uni. I'm not even very good now but have managed to reduce my debts from about £22k when I was 22 years old down to about £16k now, and I've bought a house with my OH during that time.

£6k in 6 years (28 now ) may not sound like a lot but I'm certainly more in control of my finances than ever before. And, as I mentioned, I haven't even been very good at making the effort to clear them and/or curb my spending. (Though hopefully that will change )

Set yourself small targets and see what you can do. I think you'll be surprised. You've done the best thing (and the hardest) by taking a proper look at your situation, seeing that terrifying total, and deciding to deal with it. Remember that that figure will only get better from here on.

Helen x

Tjrw1985

Add me please

£4900 I think of debt. Will update when I have definite figures.

kerri_dfw

Welcome onboard tjrw1985, if you go to the first page and post #10 you'll see a list of challenges I've posted the link recently but am in work so can't do that atm.

I was very naughty and went on the grabbit post, saw Waybaloo going cheap and thought "ooooh for Lucas" (my 23mnth nephew), then remembered I need a tenner for buying lunch today. So instead I told my sister about the offer and then she can spend her money on it instead... very frugal hehehe

[Deleted User]

Hi not a great day so far, doing some sorting out in the bedroom, looking for stuff for ebay and made an horrible discovery, I live in furnished rented house, the landlady put wicker drawers in the bedroom, for weeks now I have said how smelly and damp they are getting as they are on an outside wall, I wipe them out regularly, she says they will be ok, I keep my nice underwear, paperwork,(my passport and driving licence are going to have to be replaced) special tops, handbags etc, the stuff what doesnt get used that often, but today I have had to chuck half out , most of it is ruined, my washing machine is on overdrive, so tonight I am dragging her around, also myself and my husband have had a bad chest, not suprised really, I do clean regularly, so I dont know if I should blame myself, hubby says I have been doing all I can, so I think a small rent reduction would be nice as compensation, I have bags of the ruined items ready for her to see.:( The good side of today is I have paid £50 of debt.:T

Sorry having trouble updating sig it now stands at £39,950/£40,000

forgottendreams

Its sooo exciting, all this debt busting.
I keep checking my bank to see if I can make a payment
Who'd have thought that paying off your debts would be so addictive and rewarding!!! I actually can't believe it- only last week i grudged every penny when paying debt...

idristhedragon

Hello everyone!!
Jimmytwoshoes your post struck such a chord with me *hug* my husband doesn't know about my debts either. I am a lot better than when I met him and had debt collectors sending letters,ringing all the time. My problem is misery shopping that became habit shopping- we have a massive primark here and I'll happily go and spend £40 without even thinking about it. I love the £9 jeans- lovely and cheap but NOT if you buy 10 pairs....
I have spent no money so far today - kids have swimming later and I usually take them to the chippy after but not tonight- I have £25 in my purse, £153 overdraft on my current account' £82.01 I. Satan-tander and a DD for 88.01 going out tomorrow and £23 in my housekeeping account that I need to spend on my sons birthday cake for his birthday party Saturday. Next week I should be in receipt of £268 plus my eBay money so am hoping to pay £50 off vanquis and £50 off cap one
Do people clear one debt at a time or chip away at all at once?
Right I must go and send off insurance for daughters pesky phone....

kerri_dfw

Idris, I chip away at all of my at once, but trying to clear the largest interest % ones first. So vanquis and freemans are my first ones, the rest will have to wait and can be min payments until I've done them.

psychopathbabble

Idris, I pay one off at a time... I realised it made me feel more satisfaction watching one of them bite the dust..... it was getting depressing seeing them hardly go down!

An eventful night for me... *GROSS POST ALERT*

got to bed at 12 after managing to wake MrS on the sofa, only to be woken at 2am with him telling me his throat was bleeding Cue lots of bright red blood all over the bathroom and a call to 999... got home at 6.30 this morning after they stopped the bleeding and got his stats more or less to normal. Will be going to see him in half an hour but he can't come home today... Bless him, he thought he was going to die as he was also vomiting blood from where he had swallowed it. His mum might be coming down but she wants to take him back on the train on Sunday as she is also main carer for his gran. While I understand that is the best option (except being on the train part for him) I can't bear that he will be so far away from me while so ill.

Anyway, sorry for the gross-ness! No pad for me today as I'm skinto until payday next wednesday!

kerri_dfw

psychopathbabble wrote: »

Idris, I pay one off at a time... I realised it made me feel more satisfaction watching one of them bite the dust..... it was getting depressing seeing them hardly go down!

An eventful night for me... *GROSS POST ALERT*

got to bed at 12 after managing to wake MrS on the sofa, only to be woken at 2am with him telling me his throat was bleeding Cue lots of bright red blood all over the bathroom and a call to 999... got home at 6.30 this morning after they stopped the bleeding and got his stats more or less to normal. Will be going to see him in half an hour but he can't come home today... Bless him, he thought he was going to die as he was also vomiting blood from where he had swallowed it. His mum might be coming down but she wants to take him back on the train on Sunday as she is also main carer for his gran. While I understand that is the best option (except being on the train part for him) I can't bear that he will be so far away from me while so ill.

Anyway, sorry for the gross-ness! No pad for me today as I'm skinto until payday next wednesday!

Has he just had his tonsils out? I had exactly the same thing a week after mine, poor thing I know how scary it is. I made my housemate drive me to the hospital whilst I spat blood into the washing up bowl. Mine was because I'd picked up an infection so the wound opened up again. Grrr. Hope he's better soon x