Pay off as much as you can in 2012 challenge!

LAM2011

Moggy - have you seen this :

http://www.whatsthecost.com/snowball.aspx

It was a big wake up call for me when it worked out how long I would have taken and how much interest I would have paid. If you have your interest rates and balances to hand its fun to have a play around with.

kavics17

MOGGYMALONE wrote: »

Hi I've only discovered this thread and would be interested to know - do you all pay things off as overpayments. For example, do you pay your card's minimum payment then when you save a little pay that off the card/debt also? good luck Moggy

I pay off my credit card every month full, I only use it because of the benefits I get (collecting airmiles). I have 2 loans, the payments go out by direct debit than at the end of the month or whenever I have a bit of extra income, I make overpayments. I never leave anything extra on my bank account (apart from £100 for emergencies), I find that If I pay it towards the loan than I won't spend it on something I don't need:rotfl:.

fairyclicks

Well i have been off doing some sorting out, counting up the debts is never fun but its a necessary evil so i can see what i have managed to do with it all as i work on it.

I worked out i had actually paid £170 off things so far this year - most of that is off the debts as i have interest frozen on most things. I also just made an extra payment off some things today too - £30 off TV licence - thats now back up to date £17.50 ground rent so thats cleared that one and £63.64 off my huge avon debt.

So that makes my new total paid so far £281.14/£5000

Pretty pleased with that i have to say

jwil

archery wrote: »

i would like to join also please.....put me down for £12000 my aim for 2012 is to clear my car finance, reduce my mortgage and start to reduce my overdraft

Welcome to the challenge archery! Good luck with the debtbusting

MOGGYMALONE wrote: »

Hi I've only discovered this thread and would be interested to know - do you all pay things off as overpayments. For example, do you pay your card's minimum payment then when you save a little pay that off the card/debt also? good luck Moggy

Hi Moggy, would you like to join us? I am counting all payments made towards my debt, so pay the minimum payment and then overpay when I can.

Most credit cards let you make online payments, so whenever I've got a spare bit of cash I send a payment over. I have even sent a 1p payment before though most won't let you pay less than £1. I like to think it annoys them

fairyclicks wrote: »

Well i have been off doing some sorting out, counting up the debts is never fun but its a necessary evil so i can see what i have managed to do with it all as i work on it.

I worked out i had actually paid £170 off things so far this year - most of that is off the debts as i have interest frozen on most things. I also just made an extra payment off some things today too - £30 off TV licence - thats now back up to date £17.50 ground rent so thats cleared that one and £63.64 off my huge avon debt.

So that makes my new total paid so far £281.14/£5000

Pretty pleased with that i have to say

Welcome to the challenge fairyclicks, good luck with the debtbusting. You've made a great start :T

cutestkids

Another little bit paid off today so the total is now £875.32 / £5000

*Mari*

Just a tiny payment today of 95p making my total 453.92/5500

Thank you

euronorris

euronorris wrote: »

my new total stands as:

16.76/5337.19 GBP

Hi all,

Loan payment has been collected, so new total is:

231.07/5337.19 GBP

Hope you're all well and Happy New Year!

xx

cleggie

Another £500 paid off today, so my new total is £985/£2186 paid!


(#20)

sarahs999

Just got an overdue cheque paid to us that is £350, so got a big chunk to pay off somewhere.... just need to decide where to put it. Why am I so excited about it??!

cutestkids

Just a little paymet of £2.50 to the cc today but every little helps I suppose:D

My total changes to £877.82 / £5000