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Countdown to DEBT FREE
vannistelross
Posts: 2 Newbie
Currently this is what our (my Wife and I) debt collectively stands at after recent interest free credit cards switches.
We have been too lazy, irresponsible with Credit cards over the past 3 years and only we can do something about it...OK here goes the debt is;
Credit Card 1: -£300 (Interest free 15 months)
Credit Card 2: -£2300 (interest free period ends September 2012)
Credit Card 3: -£3200 (interest free 17 months)
Loan: -£1656 (ends in October 2012)
Current payment plan
Credit Card 1: £50 per month (paid off by October 2012)
Credit Card 2: £764 per month (aiming to be paid off by June 2012)
Credit Card 3: initially £150-£200 per month (then £900 once Credit Card 2 is cleared of debt - aiming to be paid off by September 2012)
Loan: Normal payments until paid off in October 2012.
HOPEFULLY DEBT FREE BY OCTOBER 2012 AFTER BEING IN OVER £12,000 OF DEBT IN EARLY 2011.
I'm sure they'll be a few mishaps along the way but we're so close I'm focussed now. The way we've tackled it is to get the debt clear before the interest free periods end and also tackle the big debts first for psychological / rewarding reasons
Hopefully I'll return to the post in September/October to let everyone know how we got on and provide inspiration to others (as they have me by posting similar threads) that this can be done.
Good luck to all others undertaking similar quests.
See you in September/October
We have been too lazy, irresponsible with Credit cards over the past 3 years and only we can do something about it...OK here goes the debt is;
Credit Card 1: -£300 (Interest free 15 months)
Credit Card 2: -£2300 (interest free period ends September 2012)
Credit Card 3: -£3200 (interest free 17 months)
Loan: -£1656 (ends in October 2012)
Current payment plan
Credit Card 1: £50 per month (paid off by October 2012)
Credit Card 2: £764 per month (aiming to be paid off by June 2012)
Credit Card 3: initially £150-£200 per month (then £900 once Credit Card 2 is cleared of debt - aiming to be paid off by September 2012)
Loan: Normal payments until paid off in October 2012.
HOPEFULLY DEBT FREE BY OCTOBER 2012 AFTER BEING IN OVER £12,000 OF DEBT IN EARLY 2011.
I'm sure they'll be a few mishaps along the way but we're so close I'm focussed now. The way we've tackled it is to get the debt clear before the interest free periods end and also tackle the big debts first for psychological / rewarding reasons
Hopefully I'll return to the post in September/October to let everyone know how we got on and provide inspiration to others (as they have me by posting similar threads) that this can be done.
Good luck to all others undertaking similar quests.
See you in September/October
0
Comments
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WELL DONE!!!
I'll see you on the debt free side!
SAVINGS: £63.86 // £3,0000 -
im no expert by any means, but would it not make sense to pay off credit card 1 first then you could use the £50 per month towards number 2, if theyre all interest free anyway
xSave £300 in Jan £515/£300-Lose 10 lbs in Jan- 8/10,Cap One M/C £0/£200,Cap One Visa £0/£200
Aqua £470/£550, Vanquis £477/£1250,Bank of Dad £1668/£3500, legal aid £0 left, Littlewoods 0, Very £306/left,Choice £0/lefthave paid off in January 742.890
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