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

jamescarsonlee

hi guys, its good to see the hype being generated from this and also good to see some members already chipping away at their targets. Just as and idea here is what I have started to do which is a little bit of a combination of moving debt and pay-per-day. I am now paying myself (or my debts more like) £10 per day which doesnt sound much but is tough on a day to day basis. Raiding the piggy bank is my final straw! Can you please knock £497.81 off my total. thanks and good luck everyone!

snoopyfan28

HelenPie wrote: »

I spent a couple of hours putting together a spending/saving/payment pan together and, in theory, it's possible that we could be debt free by October 2012!!

:j

I just did the same thing, if I did it right and can keep to my budget I can be debt free by October too.

This week I have done lots of money making/saving

I sold some broken gold = £10
I used a voucher at ASDA =£5
I got 3 bags of veg for the freezer for 30p
Opened copper jar that I have been saving for a rainy day = £26
Walked to work to save bus fare = £4
Sold 11 items on ebay,still need to work out totals.:)

mf0u1098

jamescarsonlee wrote: »

hi guys, its good to see the hype being generated from this and also good to see some members already chipping away at their targets. Just as and idea here is what I have started to do which is a little bit of a combination of moving debt and pay-per-day. I am now paying myself (or my debts more like) £10 per day which doesnt sound much but is tough on a day to day basis. Raiding the piggy bank is my final straw! Can you please knock £497.81 off my total. thanks and good luck everyone!

That's such a great idea! I'm sure many people on here will now use this including me. Well done for paying nearly £500 off already :j xxx

mf0u1098

snoopyfan28 wrote: »

I just did the same thing, if I did it right and can keep to my budget I can be debt free by October too.

This week I have done lots of money making/saving

I sold some broken gold = £10
I used a voucher at ASDA =£5
I got 3 bags of veg for the freezer for 30p
Opened copper jar that I have been saving for a rainy day = £26
Walked to work to save bus fare = £4
Sold 11 items on ebay,still need to work out totals.:)

Superb snoopyfan28! Keep it up and you'll get there in no time! :T I've also worked out that I could pay off all mine by October but as long as I pay it off by Christmas then I'll be happy. Would be lovely though getting there sooner wouldn't it! xxx

Jan2011

jamescarsonlee wrote: »

hi guys, its good to see the hype being generated from this and also good to see some members already chipping away at their targets. Just as and idea here is what I have started to do which is a little bit of a combination of moving debt and pay-per-day. I am now paying myself (or my debts more like) £10 per day which doesnt sound much but is tough on a day to day basis. Raiding the piggy bank is my final straw! Can you please knock £497.81 off my total. thanks and good luck everyone!

I'm confused (maybe because I am tired) but I cant understand how it works lol. are you giving yourself £10 a day for to spend?

Malmol09

My **free** entertainment for our gorgeous 9 month old yesterday was a day at the local garden centre, which comes complete with an aquarium, birds and at this time of year loads of sparkly flashing Christmas lights to stare at! I tell you what who needs expensive yearly passes to the zoo?:T

InsertWittyName

Jan2011 wrote: »

I'm confused (maybe because I am tired) but I cant understand how it works lol. are you giving yourself £10 a day for to spend?

There are challenges in the forums to earn £x per day - this can be earned by offers when shopping, taking a cheaper option, NSD's etc.

I think jamescarsonlee is saying they will aim to earn £10 per day and pay these per day toward the debt. So instead of saving up until the end of the month, paying it straight away.

It's a good idea and works for a lot of people - essentially the motive is that anything you could have spent and didn't, pay it towards your debt.

mf0u1098

I know it's a few minutes early but I need to go to bed zzzzzzzzzzzzzzzzzzzzzzzz......

:xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree::xmastree:
:snow_laug Only 395 days until we are DEBT FREE!!!! :snow_laug

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

mf0u1098

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

By the way, in exactly 13 months it will be Christmas Eve and we will have all paid off our debts!!!! What an amazing thought. Let's do this guys xxx

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

InsertWittyName

Had a bit of good luck today, small bit of history first...

Sent an email to the CEO of Santander about 3 weeks ago, complaining about the interest rate hike on my Cahoot Flexible loan since they took it over.

Anyways hadn't heard anything so decided to give them a call tonight to see how that was progressing. The operator told me that a sizeable deposit had been made to my account today but it hadn't cleared yet.

The deposit was for £2,756.44!

I only owe ~£3,560 in total on that loan, so this leaves me owing less than £1k.

Not going to officially update my total towards this challenge or in my signature until I get the letter from Santander confirming this. I don't really update anything until a payday anyway and poor ole mf0u1098 must be exhausted keeping tabs

This just made our overall challenge much more achievable.

Bring it on! :T