December Debt Destruction!!!

Marylea

Hello Everyone........I'm eagerly awaiting January's challenges............bring it on NSK!

I've had a splurge in the NEXT sale......nothing too excessive, leggings, a couple of work cardigans, a pait of boots and some towels. I'll factor it in to January's budget (on account of me eating the contents of my freezer in January, so won't be doing too much food shopping!).

I'm waiting for the final few days of December to end to see if I can reduce my overdraft further..........NatWest have just started to explicitly tell you what your overdraft is costing you.

When I reduced my overdraft last time, the paperwork that was sent out, stated the cost of the overdraft over a 3 month period. I'm not sure if this is Natwest's idea or whether they are now obliged to do so.....either way seeing it it in black and white does focus one's attention...........I AM DETERMINED TO GET RID OF THE DARN THING....IT IS JUST TOO CONVENIENT (and expensive at £70 a month:mad::mad::mad:).

Off now to return an item I bought and didn't need.........!

WantToBeSE

I too am looking forward to Januarys challenge

Any idea when it'll be going up Kat?

mumsiemum

WantToBeSE wrote: »

I too am looking forward to Januarys challenge

Any idea when it'll be going up Kat?

I think she said tomorrow afternoon as she is travelling back today.

I can't wait too, I just want to get started as I was too late for Decembers challenge.

Can I ask anyone who is doing DDD - any tips for us newbies to extreme debtbusting for the firsat time in January?

WantToBeSE

Thanks mumsiemum, i should have read a bit more carefully!

Tips..hmm, the main ones i would be are,

make sure you do a full inventory of the food you have in your cupboards. This could reduce your food budget a LOT in a month.
So, say you declare you will spend £250 on food for January.
You go through your fridge/freezer/cupboards and do a full inventory and come up with 15 meals that you can use in January. Thats half the months meals already bought for.
So, use half of your grocery budget to clear off some debt. Dont hang around, just pay it asap or you'll be tempted to spend it (if you are anything like me!).

Overtime- those who pay childcare/travel expenses,be careful that overtime doesnt mean you are paying out loads in childcare/petrol etc, or it can defeat the purpose. If childcare and travel isnt an issue (or too much of an issues) go for it!!

Marylea

mumsiemum wrote: »

I think she said tomorrow afternoon as she is travelling back today.

I can't wait too, I just want to get started as I was too late for Decembers challenge.

Can I ask anyone who is doing DDD - any tips for us newbies to extreme debtbusting for the firsat time in January?

Hi Mumsimum
I'm gagging to join as well.....I've made a bit of a start in December, but like you I was too late to be in from the beginning.

This is what I will be doing/have done.

1. I have a list of all my direct debits and when they are coming out of my account, and made sure there is nothing there I am paying for that I don't need (subscriptions, memberships etc).
2. I have used an online comparison site to make sure i am on the best deal for gas, electric, telecoms etc.
3. I have a handle on all my debts (see my signature) what interest rates I am paying and when any rates will change. I can not tell you how powerful having the total of my debt on my signature has been........a daily reminder of what I need to be focussing on.
4. Meal Planning and batch cooking: I have started to do this for a while, mainly as part of my other goal (to lose weight) but I have also found it useful to reduce costs. I no longer buy much food for breakfasts/lunches from sandwich shops etc. I always have some homemade frozen meals available for lunches and I make sure I have breakfast food either at home or at work.
5. Finally I am practising my 'mantra', 'Do I NEED it?' to stop me from buying stuff....just because I like it, or that it is a 'bargain'. My so called 'bargains' are actually costing me a fortune in interest !

2013.......the year of the debt devil destruction!

PurpleJay

Hi Everyone

Well yesterday wasn't a no spend day afterall!

I bought 3 kindle books at a total of £3.40. One was on Building an Ebay Business for £3.00 and 2 novels for 20p each.

However in order to buy these I bought an Amazon £25 gift card as though our scheme at work you get 3% cash back. However as with the Morrisons vouchers (I also ordered £100 of these with 5% discount), I will count them as cash until I spend them.

Very excited about the forthcoming January challenge :j

Planning to reassess the budget over the weekend and work out properly with hubby what we have going out and coming in as a household. We keep our finances separate and I deal with bills and shopping with hubby paying board and doing top up shops but we need to know the figures. It is all good

citizenkitten

I CANNOT WAIT FOR THE JAN CHALLENGE!!!

call me a psycho but 2013 is the year for me! NO MORE DEBT!

I am now busy thinking of New Years resolutions to help me make 2013 the year of change. Bye bye mayan death prophecy and doom mongering, hello living life and making positive changes.

I reckon DDD will be the perfect start to the new year. i am pretty sure i will fail horribly first attempt but got 12 months of practice in a year right??????

Bored

Another one patiently waiting for the Jan challenge here. I signed up in November but wasn't committed enough to see it through. I've been lurking on the December challenge and am now completely ready to commit in Jan 2013.

liltdiddylilt

I exercised!!!! :D We went out in between rainstorms for a walk along the beach as a family. Blew away the cobwebs out there but it was lovely. Discussed with OH my plans for next year & he is 100% committed to whatever I wish to do basically. He is a bit of a miser except when it comes to computer games (& he has made triple the money from the games than he paid for them so it's not bad!!) and he has kept me on track. I have never been bad with money... My debt came from not earning enough to keep living by myself but continuing to do so anyway for far too long while OH grew up (nothing like a baby to focus the mind :eek:).

Whilst from past experience I am wary of joint accounts, all of our money is joint but in separate banks. All bills come from my account since this was my place from the start, & OH doesn't actually pay anything in except for the occasional takeaway or food shop. He does use his money to make large payments off our debt though & I know I could ask him for it, for whatever, whenever.

Mumsie - Plan, plan, PLAN!!! If you need bread, pick up anything else you need on that day. Go get your prescription sorted; buy that card for your friends birthday. If you have a few days at work make sure you get any extra food you may need on your spend day. Not only will this give you more NSD's, you will actually spend less. One trip to the supermarket with a list in your hand is much better than 3 ad-hoc wanders into tesco express for milk & spending £20 somehow each time. THINK hard and try and get as much done as humanly possible. Focus yourself by continually looking at your bank balance. Check what is still to go out. Re-do your maths over and over. Move money around if you can.

NSD 21 for our household. Hope you are all having a good day!! Countdown to going back to work T-12 days... *cue dramatic music*:rotfl:

kerri_dfw

Merry Christmas everybody, sorry I've been a bit AWOL and not cheerleading properly. I have just caught up and am still cheering you all on I cannot wait for the January challenge to start. There is definitely a change in me this year. Last year I was at the Next sale at 5am waiting for it to open. This year I rocked up the day after Boxing Day in the afternoon, didn't feel like looking at the ladies stuff so went straight to the mens and spent on my OH. I had £100 budgeted for clothes for xmas present. Almost passed out at the checkout from dehydration (I think...pregnancy test was negative today just to be on the safe side). Went back to home dept today for wrapping paper, £3 xmas reef that was £18 and xmas cards (£1).

My Dad has thrown a debt busting curve ball, and I don't want to use it tbh, he's going to give my sister and I an amount of money to clear debts from my late Grandads estate when it comes through. Ideally I would like to clear all my debt myself. So NSK sign me up for January, let's kick this debt to the curb once and for all spreadsheets a go-go, calendar should arrive shortly for tracking everything on the wall. Very excited little Kerri