My mission to pay off £3000 in 150 days

Moneymash

knitwit67 wrote: »

Hi
I am so sorry I have been AWOL . I well and truely fell off the wagon, but I am determined to get back on.

WOW Money mash and Betty Crumble you are both doing great. Your success is fantastic and makes me feel even more stupid to have sliped.

I have not updated my stats yet, but I have put my debt on a 0% card to take the pressure off. I did Martins online budget and saw that over a year my outgoings were far higher than I thought. I thought I knew this stuff but sometimes it's good to try new ways to open your eyes to whats infront of you.

I have been following the blog Frugal queen. I would highly recommend taking a look. It has given me a much needed kick up the backside to get over my sweatself and make the changes .

Once again Great work guys :beer: I may be behind you but I'm still cheering you on :T

And she's back in the room:)

Hey knitwit, it's good to hear from you. I totally understand about falling off the wagon, it pains me to see how much I am paying off on this card and what else I could be spending the money on. My mini oven and my ipod, both of which I bought on my Argos card broke before I had even paid the card off.

I could really do with upgrading my phone and laptop. I won't be buying new/replacing until my debts are significantly lower. It will be an interesting Christmas lunch for me without a mini oven... I would also really love to move into bigger accomodation (is that 2 ms or 1?) I keep thinking if it weren't for this pesky debt.

I had a very weak moment last payday I had convinced myself I needed a new work bag and a new rucksack, it was only because I couldn't find anything I liked in TK Maxx that I didn't sucumb. It is so hard watching every penny when the usual behaviour is to spend.

Pick yourself off, dust yourself down, get back on the wagon and carry on where you left off, you can do this. Just think back to the feeling and the determination you had when you first had the idea to start this challenge and thread,remember you also inpsired Betty and me to go for it as well.

knitwit67

I have done the maths and my new figure today is £2408.00 I have moved it to a 0% card to give me some breathing space.I am planning on paying the min payment each month and putting the rest in premium bonds. As it's short term saving I can't get much interest and this is easy to get at when the 0% runs out. I have done this in the past a won a few £50 cheques.

I have most of my christmas gifts already and wrap and bags from last year to use. Costs will have to be cut this year. It's the going out to meet friends is where I'm going to struggle. I live away from old friends so inviting them over is not really an option.. I am going to mum's this year for christmas dinner so that will save me loads. I will have a gathering on boxing day with my son and girlfriend maybe in-laws.

My food shop has been high this month as I have been doing Mr T's £5 off when spending £40. I ended up with 3 so £15.00 off this week. My store cupboard is bursting with half price beans and 3 for 2 offers. I will only need fresh stuff for the next few weeks.

One of my £5 vouchers was from Mr T for glasses. I got a free sight test and paid for my glasses with Tesco vouchers doubled up. 2pairs of glasses £200 free and a £5 off voucher. I am hoping I will be able to do this next time I need some :cool:

Moneymash

Hi Knitwit,

It's not as bad as you made it sound. At least you have transferred your balance to a 0% card, I don't have that option. Also, I never thought about premium bonds, they've always been something that people have and keep for years I'll have to look into that for when I get some spare cash.

At least you have bought a majority of your Christmas presents. I have one so far, which I bought for an elderly relative, I then realised that I had two candlestick holders already bought that she could of had instead doh! If I had enough, cupboard, fridge and freezer space I would do the Tesco £40 shop offer as well!

Yes, going out a Christmas can be pricey, my works do is £35.00, there's no way I'm paying that to spend a few hours with a couple of people I really like and loads of people I don't. We are annoyed we have to pay when so many other companies pay for their employees.

That was a good deal on the glasses, more deals like that and you'll cc balance will continue to go in the right direction...down

Betty_Crumble

£313 to the car, 626 to go yay.

hope you guys are ok, last push is going to be hard coz of the dreaded C word but anything is an achievment in my book, I wish you well.

Moneymash

Hi Betty,

Well done on the car payment, you're doing really well, isn't it great seeing the figure go down. Wouldn't it be great to pay a lot off just before Christmas, that's the last thing creditors expect I'm sure.

I've got the dreaded C problem as well. I have budgeted and saved for Christmas, however, I didn't factor in getting my hair done, or going to a 'Christmas do' I managed to get out of the 'works do' my refusing to pay fot it (I think management should pay/contribute towards it) and plus do I really want to see my lazy work colleagues drunk, not particularly. However there is another 'do' that I do want to attend and will really enjoy. It's just going to be costly, I've got to travel to London, pay my share of the function, probably buy some drinks and contribute to a christmas present I get paid on Friday, in just 3 days time. I have allowed for the outstanding balance of £507.68(plus trailing interest as statement was produced on 21st) to be paid, I think with a bit of juggling, a meticluous bargain hunting food shop, and ever so slightly cheaper Christmas presents I might just pull it off!

I am so desperate to pay off my card on Friday, as then it will be paid off on day 120 and one less debt to worry about!
It's so tempting to pay it off all bar £100 and give myself an easier Christmas, and pay the remainder off from December's pay, but I must be strong. I can do this...we can do this!

Good Luck Betty and keep going Knitwit.

I will report back on Friday.

knitwit67

Hi, well done Betty and Moneymash you are doing great.

I have been busy on e-bay £24.00 and awaiting payment of £22.50 more
I have started selling books on Amazon, I LOVE IT ! So much quicker and easier than ebay . I have made £64.00 in a few days :j I am going to be putting a lot more on.

I have been looking at isa's after seeing Martins report on TV last night to put my savings for 0% card.

I will be back on friday Moneymash to cheer you on good luck

Moneymash

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


I did it!!!!!!!!!!!!!!!!!!!!!!!!!! It's pay day today and I have paid off the last of my 29.9% apr credit card (last payment £507.68). Finally...I am so happy and pleased with myself. Christmas will be tight but who cares, I walk lighter with less debt and this is my Christmas present to myself.

Stats

Opening balance at start of challenge £3000.74
End balance today £0
Total amount paid £3129.83
Interest was £129.09
Number of days into challenge 120

I smashed it on Day 120, 30 days ahead of schedule! I am stunned, if anyone would have said I could clear this card in just 4 months I wouldn't have believed them.

This is the fourth debt I have cleared this year.
Whooooo Hoooo!!!!!!!!!!!!!

Thanks Knitwit for inspiring me, Thanks Knitwit and Betty Crumble for supporting me, just knowing there were other people in this challenge kept me going, especially on those long and heavy night shifts.

Moneymash

princesst84

Im more of a lurker than a poster but just had to pop in to post a massive well done MoneyMash :j:j:j
That is amazing, what a fabulous Xmas present to yourself and a great start to 2013 :beer:

Moneymash

Thanks Princesst84,

I've got a long list of things to do today, but can't concentrate, every few minutes I keep thinking, I did it, I did it, the card is clear and it's got a zero balance!

I can't believe I've paid that much off so close to Christmas and as you say a great start to the New Year. My debt to income ratio has gone down, my debt to credit ratio has gone down, my credit report is going to improve. It's all good. I finally got to use this smilie in one of my own posts :j!

Betty_Crumble

£226.00 to the car just £400 left now, hope yr all doing well guys