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

recurrent-ostrich

rubywhatashmoo wrote: »

I used to decrease my OD every month by £100 - did it through internet banking with HSBC with no penalties, but it warns you everytime that if you want to arrange a new overdraft within 6 months you might get charged - which wasn't an issue as I wanted to get rid of it not get a bigger one!

Thanks. We're with Halifax and there's an option on the internet banking to "apply to change your limit" or something. Could try that and reduce it down each month. Can't do £100 but might try £50.

SpagBol

One DD came out today:

#084 £11,650 / £58,000

20.09%

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

Huzzah!! We have hit 20%!!! This was meant to happen last month but never mind...I'm still over the moon :beer::beer: Next milestone 25% (that'll be at £14,500).

Mrs_Addicted_to_Spending

Well done for all debt payments :beer:!!

The great thing about this thread is that you can get lots of peoples' opinions on what to do like Recurrent-Ostrich's situation. I'd have been tempted to reduce the OD a bit to save the scariness of going over the limit each month. But now I can see that that's risky due to the possibility of then spending all that money again, whereas with paying off the store card that debt is now gone.

We got our OD down from its limit of £1,500 just before we started the challenge to £750 but now it's back up to £1,000, which I declared last month. So in future any spare money will be used to pay off credit cards first, then OD last . Thanks guys :T.

tirlittan

Hi all.

Have identified some things to sell, will try to sort them out at the weekend. Have also put a bag together to take to one of those clothes' places that you get money by weight. Does anyone know how these work and what you can take as I've never used them before?

How do you get your 100 free 99p listings on ebay? I had a look but couldn't see. On swagbucks now as well and restarted toluna and onepoll.

I don't think I can pay the debt off any quicker though as end of this month is BFs birthday and I've got to pay half of the bike insurance this month as well. It'll be quite tight couple of months but then I can breathe a sigh of relief.

jakes-mum

your 100 free 99p listings are automatic for private sellers with (I think) over 10 positive feedback. List as you normally would, put 99p in the start price and at the bottom of the page it will say 'current fees £0.00'

No idea on the clothes bank thingy, never used one, not even sure if there is one round our way :think:

tirlittan

Thanks Jakes-mum, I'll give it a go this weekend.

vw_campervan_mum

recurrent-ostrich wrote: »

Thanks everyone. I *know* it makes sense to clear the Next as the minimum payments are currently £270 a month, so if we clear it that's a huge extra amount to snowball towards our other debts. It's just been so nice to not be still overdrawn straight after pay day.

Overdraft fees are £1 a day from £1 to £2499, £2 a day if over £2500. We aren't really making inroads into it as our budget is so tight, but will try and shave a little off each month. If we'd cleared it, it would be quite likely for it to creep up again.

Once again, thanks. :beer:

Hopefully with your Next payments reduced because of paying off the £2k you wont go over your overdraft limit, so it is helps both debts - this is a large chunk of money each month

vw_campervan_mum

I have decided to hold off a little longer with the new vs old car debate. As long as car repairs are less than £100pm then I am spending less than on new car repayments. If the car can last out til next year I will be able to start saving for another one.
I would love "psychologically" to be debt free before getting a new car debt. I know sounds wierd but it means I will have shown some element of control and not just kept on increasing debt. I know it is easy to believe something is "needed" - that is why I have debts

Thanks Tinks 14 - helped put my ideas straight

psychopathbabble

tirlittan wrote: »

Hi all.

Have identified some things to sell, will try to sort them out at the weekend. Have also put a bag together to take to one of those clothes' places that you get money by weight. Does anyone know how these work and what you can take as I've never used them before?

I've currently got a sack in the spare room I'm filling with stuff for one of these. The one I'm using takes clothes, coats, shoes, belts, scarves, bags, jewellery. Not sure about others but I can PM you the address if you like? I'm hoping to get mine collected tomorrow so I can let you know what it's like.

I know I could make more money at the car boot but I just want to get rid of everything now as I want to get the flat decluttered and sorted (Yes, I'm still waiting for it to be done by Mr S as I have been since January!!).

choclover

I've got a £500 overdraft, it's very rare that I'm not in it , I've not declared it as it's going to be the last thing that gets paid off and then once it is, I'm switching to a new bank account that doesn't have one, so there's no temptation. I think at the moment it's difficult for me to not see the overdraft money as mine.

On the ebay front, I've dug out a monsoon outfit that I bought for my sisters wedding four years ago (i've worn it a few times since then but can't envisage wearing it again), and my husbands leather jacket which he hasn't worn very often and is way too tight for him now!