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

accountingbod

Hi All

Please put me down for this

I have the following debt:

Virgin CC £2,748.28
Natwest CC £1,889.37
Nationwide CC £880.74

I am hoping to pay off the Nationwide and Natwest in 2012
I have chipped 3% off this month... every little helps!

Good luck all!

mf0u1098

rubywhatashmoo wrote: »

Hey everyone - I've been lurking in this thread since it first started and kept thinking about signing up and I wasn't going to because I've only got a little bit of my debt left - but then I felt a bit weird just hiding out reading about how everyone else is doing so here I am if you'll have me

Sooo as of right now I've got £1550 left to pay off one CC @ 0% and my OD. It is (finally!) payday today though so I'll be back in a bit to update how much I've managed to knock that down by and make it look like I'm really on the ball with it! :rotfl:

Welcome to the team rubywhatashmoo!!! :T I'm glad you've decided to join us as we're a happy (if a little crazy at times...) bunch :rotfl:

I'll add your name and amount to the 2nd post and await you telling us your new updated total!!! xxx

strawberryR

kerri_dfw wrote: »

mf0u has just let me know of a new challenge starting on the 1st December for anyone that wants to try to tackle one of their debts, it's the pay off a debt in 100 days 1-12-2011 - 10-3-2012 challenge. I've put a link on post #10 for anyone that forgets where the list is. This might be good for those of you with huge total debts that are looking for a way to achieve a goal quickly and will help spur you on

Thanks to mf0u and kerry i have joined should be a good incentive, have spent the day trying to find other incentives! Also the no chocolate is going well, looking forward to the next challenge:money:

mf0u1098

accountingbod wrote: »

Hi All

Please put me down for this

I have the following debt:

Virgin CC £2,748.28
Natwest CC £1,889.37
Nationwide CC £880.74

I am hoping to pay off the Nationwide and Natwest in 2012
I have chipped 3% off this month... every little helps!

Good luck all!

Welcome to the team accountingbod! Sounds like you're doing a sterling job at chipping away at your debt. Baby steps is the key to success. I'll add your name and amount to the 2nd post xxx

strawberryR

mf0u1098 wrote: »

Crafty barstewards!!! Not too sure what to advise you but what I think they are doing is: When you repay your loans, most of your repayments in the beginning are interest and a small amount is to pay your capital back. As you keep making your repayments this shifts until right at the end you are paying back mainly capital as there is not much interest left.

What they are doing is effectively saying that you will need to take another loan again for the value of what you owe but then they will add all the interest on again making your repayments bigger! You'll then be paying loads of interest back at the beginning of the new term and not as much capital. sneaky sons of ^%$£%^&!!!!

Please someone correct me if I'm wrong but I that's how I take it...? I'm afraid I don't know what to advise but if noone can help you here then perhaps post on the main DFW board and ask someone there? xxx

I know spent 2 hours in town sorting old accounts etc as well! Ahwell I have posted on the PPI forum and will see what happens.

mf0u1098

strawberryR wrote: »

Thanks to mf0u and kerry i have joined should be a good incentive, have spent the day trying to find other incentives! Also the no chocolate is going well, looking forward to the next challenge:money:

Glad we can help!

I like the VSP (virtual sealed pot) challenge where you round your account down to the nearest £10 and the difference goes in a savings account. i.e. if your balance is £456.78 then you'd move £6.78 to your savings account and leave £450.00 in your current account.

The sealed pot challenge is where you put any loose change into a tin from 1st dec (I think) until the end of Nov the following year...

There is also the £2 coin challenge where again you save £2 coins in a tub for a set period of time.

I like these particular challenges as they are effective but they are small things and they are painless...

Just check out the list on Kerri_dfw's post #10 and see what is best for you!

Oh and NSD's (No Spend Days) are superb for curbing your impulse buys!!! Addictive!!! xxx

idristhedragon

I just joined the one debt in 100 days thanks for the heads up.
Why does it always rain at school run time, please?

kerri_dfw

mf0u1098 wrote: »

Glad we can help!

I like the VSP (virtual sealed pot) challenge where you round your account down to the nearest £10 and the difference goes in a savings account. i.e. if your balance is £456.78 then you'd move £6.78 to your savings account and leave £450.00 in your current account.

The sealed pot challenge is where you put any loose change into a tin from 1st dec (I think) until the end of Nov the following year...

There is also the £2 coin challenge where again you save £2 coins in a tub for a set period of time.

I like these particular challenges as they are effective but they are small things and they are painless...

Just check out the list on Kerri_dfw's post #10 and see what is best for you!

Oh and NSD's (No Spend Days) are superb for curbing your impulse buys!!! Addictive!!! xxx

Don't get me started, I'm feeling really twitchy today because it's payday and I left the hsbc calculator at home so I can't move money into my VSP argh. I've also become very possessive of £2 coins, I was really annoyed that the crepe shop didn't give me any when they gave me £5 in coins at lunch :mad:

strawberryR

kerri_dfw wrote: »

Don't get me started, I'm feeling really twitchy today because it's payday and I left the hsbc calculator at home so I can't move money into my VSP argh. I've also become very possessive of £2 coins, I was really annoyed that the crepe shop didn't give me any when they gave me £5 in coins at lunch :mad:

I always wondered why someone at my work asks her team for their £2 coins in exchange for normal £1 coins!! I just thought she had a £2 fetish

I already have a change pot at home that all my coppers go in me and OH used it for petrol when we went away, there was £60 in there.

mf0u1098

Information Post

Hi all, just thought I'd help out some of the newbies who may be a bit confused or unsure of things to help them on the forum. I know I was confused when I first started on here!!!

1) if you want to keep a track of a thread (such as this one) then you can subscribe to it. Subscribing will mean that you can just go straight to the thread (from a list of your subscribed threads) without having to search the forum for it. To do this all you have to do is go onto the thread (any page will do), click Thread Tools (just under the page numbers on the right hand side and it's in the green block bit) , then click Subscribe to this Thread. You can do this with as many threads as you like (I currently am subscribed to 12!!!). You can also either have instant email notifications (i.e. as soon as someone posts then you get an email as the thread has been added to), weekly emails or no emails (there may be a few more options but I can't remember them all!). To view your subscribed threads then just click on Quick Links on the next big green block up from the page numbers on the right hand side and there is a Subscribed Threads link. You can access the Quick Links from any part of the forum so you don't have to wait until you are in the DFW forum.

2) if you want to put smileys on your post then all you have to do is click on the Go Advanced button and this takes you to a screen where you have a choice of smileys on the right hand side. There is a U]More[/U option underneath where there are loads more to choose from including my favourite, lovely Xmas trees!!! :xmastree:

3) if you want to make your text bigger then again you will need to go onto the Go Advanced page to do this.

4) there is a lot of jargon on this forum that is hard to understand sometimes so here's a link to a very informative DFW Dictionary https://forums.moneysavingexpert.com/discussion/672601



I'll keep adding to it as I think of more...