The 'extra payment every week' challenge

GoalDebtFree

Another £5.98 paid off this morning, so on top of the monthly direct debit payment my One Card is down to £100. Every little helps!

3flyingjs

This might be a silly question, but should I make an extra payment if I'm overdrawn at the end of the month? I am itching to make an extra payment this week but I am about £20 overdrawn and will be more overdrawn by the time I get paid next week.I am DESPERATE to get on this challenge! (but not quite brave enough to add my CC debt in my sig yet...)

wear280902

3flyingjs wrote: »

This might be a silly question, but should I make an extra payment if I'm overdrawn at the end of the month? I am itching to make an extra payment this week but I am about £20 overdrawn and will be more overdrawn by the time I get paid next week.I am DESPERATE to get on this challenge! (but not quite brave enough to add my CC debt in my sig yet...)

I have no answer just the same question although I am about 400 OD but this is interest free for the first £500 wheras my C/C is 16.9% so it it just better to pay off the higher interest debt free providing you are not leaving yourslef too short if you are in your O/D that you leave yourself in danger of increasing this debt further.

craftycarole

Well not sure how this adding thing works but I paid £21.01 of cc last week but just not had time to post. This makes my total so far £28.01 I know but they said it was so many whole pounds and a penny that I owed so I thought I would pay the penny too.

Poco_3

Hello folks! V small payment this week...but whereas before i wouldn't have bothered at least this £2.96 has gone to a good home - my credit card!
Keep up the good work everyone
Poco

Misty_Blue

Another £10 paid to Littlewoods, taking me up to £50 in weekly overpayments so far.

sallybunny

I did an almighty house clean on the weekend and a desk sort out today and I think I've collected about £10 in loose change from various pots and drawers. That'll be my first weekly extra payment tomorrow!

theladyjane

inamin wrote: »

Hi everyone.
I have started this thread because although I am a member of some of the other challenged on here I find most of them are out of my reach financially. In my house there really is a tiny amount of wiggle room so trying to pay off all my debt in a year or make apayment everyday or things like that are almost impossible for me.

SO the idea of this is that we all make a decision to make ONE additional payment every week towards one of your debts. It doesn't have to be the same debt every week (although that may be a good idea if you have one that is more expesive than the others) and it can be for as much or as little as you like. I have 5 debts which I need to pay off and I think I can manage an additional payment each week, weather it is £1 or the change from the shopping or the amount I save when I get things on offer at aldi. WHatever the amount, I will make a payment every single week i 2012.

There is really only one rule and that is that the payment must be above and beyond your usual minimum or planned payments (so no taking it off your minimun and then paying less on the due date!!!! )

If you would like to join please feel free, I am going to put my payments in my signature each week so you can see how I am doing ad if you decide to join then please do the same and post here each week to help inspire others.

Enjoy and good luck. xxx

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This is a fantastic idea. I never seem to make any headway with my debts. Even though I have two jobs. Have just lost tax credits for one child so am 200 quid worse off now. This is a reacable target and I WILL deal with my debts this year.
Thanks
Jane

PloddingOn

I'd like to join this one too please I think I'll use it to pay the credit card. It just ticks away paying its £7 a month on DD then being charged £5 interest so it gets nowhere fast but I've been so focused on other debts I havent done much about it yet so this challenge will help massively.

Off to pay £15.00 on it now :T

missladyannie

I've reduced my o/d by another £5 this week, i'm actually a payment ahead of myself as I had a bonus by getting refund of 11.95 from Asda last week! Keep it up everyone!