The 'extra payment every week' challenge

Betty_Crumble

unexpected windfall today so my cherry has popped at £80 off my Capital One, i'm not gonna lie, it hurt but I now have a warm, fuzzy feeling inside. Thank you for setting this up inamin.

Betty_Crumble

can someone tell me, as ive paid 80 on top of my min payment can i minus the 80 off my outstanding balance in my sig straight away? i usually wait til payment has cleared to update but thats obviously because most is interest and some off the balance so i dont know how much has come off, hope that makes sense.

mswan

Just got a 0% credit card so that should help bring one of my cards down quicker, plus extra weekly payments it will really give me a boost seeing the totals reducing.

kriss1977

I was saving for a house deposit last year using just this method but it will absolutely work the same way for decreasing your debts too.

After setting my Initial Realistic Save Target at the beginning of the year, I rounded it up never expecting to actually reach my 'New' Save Target but with the idea in mind to get as close as possible to it by the end of the year by saving a little extra here and there each week. The New Save Target was 10% more than I knew I could afford to save comfortably but to my delight at the end of 2011, when I totted up all my totals, I discovered I actually managed to put away 28% more than my Initial Realistic Save Target set and all by just adding a little extra when and where I could each week. :beer:

Just think how that will chip away at your debts so "Good Luck everyone!!!"

True, I still can't afford to buy a house but I am one step further up the garden path to that front door!

kriss1977

inamin wrote: »

For some of you on here, your payments will be large and for some of us it will be small, sometimes only pence or pounds but what we must remember is that EVERY SINGLE PAYMENT COUNTS.

Following on from inamin's comment, and my success story last year, the least I put away extra in a day was 20p and the most was probably £39. The amounts in between varied greatly but many were only around the £2 or under mark so don't be disheartened if you can't manage much each day or a week or think that because it's not much it won't matter or make a difference - to repeat a cliche Every penny really does count! (Trust me I did everything I could to find extra and MSE's How tight are you? quiz still only rated me at 56% tight after my year of frugal living so it's not purse pinching, it's just being careful no matter what your friends might say!)

mswan

Thanks KRISS What a great success that will be us at the end of this year

please-let-me-be-lucky

Got a bit of extra monies in today so Ive paid £51.78 off the credit card as an extra. Thats the 2nd extra payment this week :j

jazzypinkpuppet

Whoop whoop paid £115 this week. This is loads more than I will usually be able to pay extra each week so very happy.

The only way is down :j

Maddie57

Hi Guys

Can i join please? I am going to make my extra payment on Fridays so I will go through my loose change tonight and see what I can find.

Maddie

cutestkids

inamin wrote: »

I have just made my EXTRA PAYMENT FOR THIS WEEK. I paid £4.00 off my capital one account. YAH!!!!! FOr some reason it won't let me update my signature. It keeps saying error: BB size too big (or words to that effect)
ANy ideas????

I think it is to do with the fact that you can only have 6 full lines in your sig, if you have smilies or large text or space between lines then it counts as too many.

Try missing out the spaces between the lines and if that fails try getting rid of the smilies which make the line drop down a bit.

If all else fails delete the lot and start again :rotfl: