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

mrso2b

152 mrso2b £1,758.29/ £12,000

Minimum payment came off the Santander card today.

We have been keeping our heads down and really getting our finances in order. We now have £1500 a month left over after paying bills and we haven't touched the overdraft in months! Before we were always getting ourselves into trouble by borrowing £600 from the overdraft then ending £600 down a month before we'd even started.

We've been looking at the snowball calculator and we are going to commit to paying £500 towards the debt, £500 spending money (£250 each) and £500 to save towards house repairs from next payday.

I know £250 a month each sounds a lot but it's really not a lot in London. Hubs and I have both drastically cut out our nights out and have been taking our lunches in from home but maybe we can do more? I will look into this.

Hubby desperately needed some work trousers the other day so he got some from NEXT in Westfield and I didn't buy anything :money:

As for the £500 savings, again this seems like a lot but our house is practically falling apart and if something major happens, we would have NO MONEY for this and wouldn't be able to use the credit card. I'm planning on building up this pot and as the months go on, using some of the money to overpay.

Feels good to have a plan

Avogirly

Hello, a quick one, but this my latest total!

#340 £1141.71/£6534.22 17.5%

kerri_dfw

mrso2b, not sure how far you are from Braintree, but they have a N3xt outlet store there which has reduced prices on their clothing

I think £250 a month each in London is a stretch, it's what I budget for myself and inevitably go over but that's because I spend on fabric and petrol. Definitely worth a try though It's ridiculous how expensive this City is!

jakes-mum

:eek: am off with DD for a tap dancing taster tomorrow, I dont do socialising, im terrible at it, going to be so awkward round the other mums its only 30 minutes long but still dreading it. Its Kerri's fault! her and her challenge making me go against my hermit style nature :eek:

kerri_dfw

jakes-mum wrote: »

:eek: am off with DD for a tap dancing taster tomorrow, I dont do socialising, im terrible at it, going to be so awkward round the other mums its only 30 minutes long but still dreading it. Its Kerri's fault! her and her challenge making me go against my hermit style nature :eek:

Jakes-mum, it might do you some good Glad you're taking on the challenge though

his_missus

Just a quickie as I'm supposed to be working...

Have withdrawn £50 to last us til payday next friday. it's to cover all shopping and any entertainment. Usually, I end up spending more in the supermarket, putting it on my card then end up spending the £50 on heavens knows what during the week. But this time I'm determined...!

As for the weekly challenge, we had a leaflet through the door about some keep-fit classes running nearby, only £2 each so am going to try one next week - either Bokwa or Zumba

1stTimer

yey! 2nd update in a week
just managed to sell a radio to a guy i work with £70 paid in:beer:
£80 / £6219.78

mf0u1098

:j:j:j:j:j:j:j:j:j:j:j:j:j:j

I'm soooooo happy, I just rang the tax office about my mileage claim and there is a cheque in the post for 2 yrs worth (I submitted 3) for £584.48!!!

This has definitely put me back in the running as it will pay for my car insurance in August which I didn't have enough money for and still be debt free by Xmas. Such a HUGE relief... For the 3rd year I need to request an amendment to my self assessment tax return so will take a little longer for this one...

But, I'm sneaking a little bit of the money to get a new pair of running trainers tomorrow ready for starting the running club on Monday (I've finally managed one of your challenges Kerri!!!)

:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Jo84_2

Just a quick update!

Wonga debt has now been paid in full!!! And I will never again use a payday lender EVER again!!

I am doing well with sticking to my weekly budget so my wage lasts the whole month and isn't blown in the first week and a half!!

So have now paid off a total of £182!

Tonight is my first night out with my new work colleagues since joining the firm! We're celebrating moving into our new office this week. Have a brilliant weekend everyone!

JoJo

fallenwiccan

Jo84 wrote: »

Just a quick update!

Wonga debt has now been paid in full!!! And I will never again use a payday lender EVER again!!

I am doing well with sticking to my weekly budget so my wage lasts the whole month and isn't blown in the first week and a half!!

So have now paid off a total of £182!

Tonight is my first night out with my new work colleagues since joining the firm! We're celebrating moving into our new office this week. Have a brilliant weekend everyone!

JoJo

Well done paying off W*nga :T