The "Pay ALL your debt off by Xmas 2012" challenge - PART 3!!!

choclover

kerri_dfw wrote: »

Well done Katie that's fantastic I really admire that you didn't have the urge to splurge, I seem to recall spending quite a bit of my PPI refund on a deposit for my current flat, oh well!!!

I came home today to find a letter from my CC (whom I have paid off this week) with the words "congratulations!" they've decided that because I manage my account soooo well that they're going to increase the limit to £1500 from £500. How they think that'll help I have no idea, considering they charge about £35 for a £500 limit a month, I'd hate to think what the interest is on the £1500 *gulp*. Anyway, it does mean that when I want to buy any big purchases I can use the cc and then pay it straight off with savings *when I have some of course* and takes off some pressure for booking flights for my housemates wedding in Canada in September, which is when I shall be trying to put down a deposit on a rental flat in Cardiff. I'm still going to try to save both flight money and deposit, but will give me a little leaway and be a nice cushion should I need it.

I wouldn't be able to afford to pay off a £1500 limit in one month though, it's just tooo high, how irresponsible of them!

Kerri, I know what you mean, last week I also received a credit limit increase from my CC which is one of the highest %, after balance transferring some over to another card, current limit is £2900 which is being increased it £5300! There's no way I could even afford the minimum payment on that amount, let alone paying off some capital!

However, it is nice to have for emergencies, but I'm not going over the £2900 limit for anything else than an emergency and in fact have started to over pay on this cc to reduce the balance.

They probably thought, 'oh we've made quite a bit of money out of her and she's starting to pay it off, let's increase her credit limit so hopefully she'll spend more on it and we can get more money out of her'. It makes me mad :mad: Especially as I only earn just over this amount in a year!

choclover

Katiec950 wrote: »

Thanks all!

Kerri - I must admit I have kept £200 for a bit of retail therapy and I've just ordered a take away to celebrate :rotfl:

Congratulations! that's great news! Have a good time spending that money guilt free!:beer:

choclover

Don't believe it! Just checked cc online, and now the minimum payment is showing as £0.00! Oh well, I'll just have to wait to see if I've paid enough to cover the interest, as I can't pay anymore til I get paid again next wednesday

lemonpopsicle

Will pay £132 cash off of cc tomorrow makes
No. 069 £3757 / £7719 = 48.67%

kerri_dfw

Hmmmm just realised I've travelled 800 miles in the car this week, that makes 1600 in one month....think I need to ease up on my car usage for work purposes or consider getting a work car. Think I'll have to start switching to taxis and trains even if they do take longer sometimes, better than reaching my yearly cap and getting less than what I pay for fuel back!!!

Well done to everyone that's paid off some debt today *claps*

Jo84_2

Morning all!!

My first pay day and first update!!

I have set myself a weekly budget and whatever is left at the end of the week will go towards my debts.

So I will start today by putting £50 towards my debts!

JoJo

Ruthy1604

Hi all,

It feels like I havent posted in ages - I always read and 'thank' but I often don't feel I have anything productive/interesting to add.

Things are ticking along in my house - I am sticking to my schedule of repayments & the debt is coming down. We still overspend on food, but I can honestly say almost nothing gets thrown away in our house so at least we're not wasteful. I think we could cut down by trawling Aldi/Lidl etc for bargains, but the time/fuel spent doing that would outweigh the benefit seeing as we both work full time. This week has been a bargain week though as DH has been in France for work & me & the kids have eaten leftovers from the freezer. I'm hoping to have lost weight as a side effect too!!

My last school payment for the year went out yesterday :j:j:j, so I now have 2 whole paydays that I can chuck loads of money at our debt before it all starts again in August

So, today I paid £441.21 towards my CC

#306 £4474.87/16779.81 26.67%

Ruth

Ruthy1604

Ooh - I forgot to say that I'm trying a new system with the cash expenses in our house. On payday I draw out the budgeted amounts for cash expenses (horseriding, piano lessons, slimming w@rld etc) then I put it in little envelopes in my bag.

So, I'm hoping that I wont be contantly at the cashpoint & wondering where it has all gone :mad: AND I wont be raiding the kids money boxes while the piano teacher is at our house and I've got no cash:eek:

I'm not sure its gonna work though, cos I'm looking in my purse & feeling rich & I keep having to remind myself that its 21 days till pay day.:D

I will let you know how I get on!

Happy Star Wars Day!

tirlittan

Just a little update as minimum payment gone and interest added, pay day still over a week away, so want to see the change...:)

#277
£992.52/£2607

camuk81

Well my weekend has ended with a throughly bad start. Little one got stressed as he hasn't read 3 times this week. A bit my fault as I never asked about homework. Remedy alarm on phone. Then find lines in school bag, then phone call to come see the teacher on Tuesday! On other news look like one house sale is going ahead at the end go this month or in June. Personally I'm hoping July. So I've resolved to paying off the nearly 4K loan and that way I free up £233.14 a month. Then once I've finished paying off all my bills can work on the shocking electric payback that I owe! General feeling very down today! Oh well its a bank holiday.