The "Pay ALL your debt off by Xmas 2012" challenge - PART 2!!!

mumof3plusoh

Wow amazing totals. Well done everyone.:j

Hope fully when I get paid at the weekend I can help a little with Feb total.

skaps

#124 Paid off £898.84/£6231.61

DorsetGirl_2

lemonpopsicle wrote: »

DorsetGirl are you sure your figures are correct, they don't seem to add up?

Thanks

Wasnt concentrating :o

recurrent-ostrich

Another couple of payments out this morning, so new total again is :

#049 £2028.15/ £10,000 20.2%

forgottendreams

Morning All

Wow - excellent total for Jan, gives the old motivation a boost too.

Another payment for me - so my new total is:

DFW#24 = £861/£6100

Thanks

forgottendreams

could someone please share the calculation they use for working out percentage paid?

Thanks

recurrent-ostrich

forgottendreams wrote: »

could someone please share the calculation they use for working out percentage paid?

Thanks

Jemma will do it for you, but if you want to do it yourself you divide the amount paid by the total which will give you the percentage.

For example if your total debt is £10,000 and you've paid off £1000 you do 1000 divided by 10000 equals 0.1 which is 10%.

If your total debt is £2500 and you've paid off £150, you do 150 divided by 2500 which equals 0.06, so 6%

On a calculator, 1 would be 100%, 0.5 -50% 0.2 -20% 0.01 -1%

Does that make sense?

rdchick

Ok lots of things have been flying out of my account just worked out that of the £96.04 I pay a month to my loan £73.80 of it is interest, only bringing my balance down by £20. If I was to plow £250 at least on top and get the loan cleared in say 6 months (omg that is a beautiful thought) what would happen with the interest? I know when you call them they tell you the balance and then the balance if you clear it today so does anyone know how they work that out?! I should have the loan until 2018 :eek: so I guess there will be a lot of interest I have already paid! xxx

PS: New debt total:

#252 £369.58 / £8703.32

Ruthy1604

Hi all,

I've just updated my spreadsheets for the last few DD's in Jan & my total is now...

#306 £1752.47/16779.81 :j:j
My PO card has been completely cleared (but I had savings for some of this ), and my OD has reduced by £247.32.

However, I have projected the bills due in Feb & I have to pay £400+ for kids trips plus spending money so the OD will have to increase again in Feb:cool:

Well done to everyone else - theres some fab totals reported :T

Ruth

Superheavy

Morning All,

Awesome results for January....now if everyone had paid that into my account instead of towards their debts....

Well, I've started off February putting £120 of freelancing money into the savings account to pay off the loan, taking my figures to:

#123 1532 / 10762

Now the slight hiccup on the horizon is that I've got a meeting on Friday with my manager, and I may be given the option to transfer jobs to somewhere else. Which means that savings for paying off the loan may not work in quite that way, but for now, onwards and upwards!