One Day I Will .... get debts below £8500 (Debt Diary)

onedayiwill

Hey Tigz - sounds like your brother is really enjoying it! We are not 100% sure of this which is why we're going for a short weekend course - if we decide that its for us then we will happily invest more money in a longer course. My dad did a 4 week intensive TEFL course when he retired from the RAF - he then walked to Greece (really!) where he had intended on teaching, but instead ended up working as a walking tour guide. He's been doing that for 16 years now and hasn't once taught English. But he said it was good to have the option.

And yes, every little helps. Pennies make pounds. Hmmm .. .heard that somewhere before

tigzem

Yep my brother did the 4 wk intensive course. He does seems to enjoy it and has a sense of fufilment.

onedayiwill

Hmmm. I really don't like the fact that I can't seem to update the title of my thread by changing the title of the first post any more. :mad:

Anyway, just a quick update. I was checking my online accounts today (as I do several times a day Can you say obsessed???). I noticed that if I pay £150 into my CC before the statement on the 25th May, it will show a balance of less than £2500. That would make me really happy!!

So, I transferred across £130 from my current account (all that is left after taking account of payments that still have to come out before the end of the month).

Just need to find another £20 now ...

onedayiwill

OK, managed to make another £50 payment to my CC today. Looking forward to seeing my CC statement which is issued on the 25th with it's balance below £2500 :j

Have also just transferred £58 from my paypal account to my bank, and last night looked out another bunch of stuff to sell on eBay.

Was supposed to be going away to an event in June that was going to cost me £200 (I have this set aside in another account). But unfortunately something has come up at work and I don't think I'll be able to go. I'm bitterly disappointed as I had been looking forward to this since before Christmas.

But, trying to look on the bright side, I can use the money to pay off some of my debt instead. In June, when I shoud be at the event, I am going to pay £100 of the money to my CC and buy myself a small treat to make up for the disappointment. The remainder will either stay in the account it is currently in, or maybe I'll put it on the CC as well. :money:

onedayiwill

So, with all my payments for the month gone out, and my credit card statement in today (online anyway), this is the day I work out how much I have reduced my debts by.

First, I need to make a correction to last months amounts - I realise that I miscalculated the number of payments remaining on my loan - I should have been 26 payments remaining, not 25).

So on 28th April 2007 my debts were:

Credit Card - £3163.17 (M&S LoB 3.9%)
Loan - £5444.40 (includes interest at 9.9% for duration of loan, 26 payments @ £209.40 per month remaining)

Total debt: £8607.57

And now, as of today, 25th May 2007 my debts are:

Credit Card - £2467.91(M&S LoB 3.9%)
Loan - £5235.00 (includes interest at 9.9% for duration of loan, 25 payments @ £209.40 per month remaining)

Total debt: £7702.91

Total paid off debt this month: £904.66

Making a total of 29% paid off since 22 Feb 2007.

This was possible due to my bumper pay pack last month (I didn't get paid for my extra hours in March so they were added to April's pay). Also extra money raised from selling on eBay and doing some typing for a student.

My credit card is less than £2500 which was my goal for this month - achieved! Hurrah!

I have two goals to reach by the end of June - which essentially amount to the same thing:
1. Credit card to be less than £2000
2. Total debt to be less than £7000

tigzem

:T :T :T :T :T

Well done..... you're doing so well.

Tigz xxx

onedayiwill

Thanks Tigz,

Hope things are good for you.

I am doing much better than I thought was possible, but I have to say that without the support of the good folks here and the wonderful Mr OneDay it would be a lot more difficult. I get the motivation I need from reading here (I think I addicted to this forums), and Mr OneDay provides my food and a pat on the back to keep me going!

tigzem

Yep things good thanks. Have managed to save some money in my brand new savings account and ISA. Yay me.... trouble is I may need to buy a new car as mine needs lots of work doing to it. Eek!!

Your hubby sounds like a top bloke.... glad he's being supportive etc. And yes these forums get addictive!! lol x

onedayiwill

Isn't it funny to be thinking about things like savings accounts and ISAs?? It certainly seems like a strange new world to me.

I was looking at ISAs the other day for when my CC is paid off and I start saving towards paying my loan off early. Mr OneDay exclaimed "Wow! That's proper grown up stuff!"

tigzem

onedayiwill wrote: »

Isn't it funny to be thinking about things like savings accounts and ISAs?? It certainly seems like a strange new world to me.

I was looking at ISAs the other day for when my CC is paid off and I start saving towards paying my loan off early. Mr OneDay exclaimed "Wow! That's proper grown up stuff!"

LOL... I feel a proper grown up now I have an ISA!! :rotfl: