Debt Free in 2015 - Who's with me?!?!?!?

spent_too_much

Been lurking for months but this thread looks ideal for me. I have 20k I need to clear as quickly as possible in order to move house. I think I can do this by December 2015 instead of 2017, if I use the money from paid off debts to then pay on to the next. At the moment I'm currently paying £800 a month. I have a loan coming to an end in April 2013 which is £150 a month and I will be moving on to the SVR with our mortgage from a 6.49% fixed rate deal. So hopefully that will be another £50 to save for emergencies.

I have two overdrafts maxed out at £5200 in total, a credit card on 0% for the next 21 months at £4500. 3 loans totalling £8000, a Next account which I owe £2000 and a H&M account with £200 on.

Not going to be easy but I think my first thing is to stick solidly to my weekly budget and not go over as it all adds up. We already meal plan, and only spend around £80 a week shopping for 5 people including nappies and baby milk. Hoping to generate more income rather than reduce current spending as I already feel we do without a lot, and our budget for the week for everything including food is only about £110.

kittycatfan

hi ive got 7000 worth of debt , id love to join you in becoming debt free i think ill be debt free hopefully by 2015 in a way cant wait for xmas to be here so i can re organise my finances in the year and stop buying xmas stuff good luck to everyone keep me informed dollyrocker also what does Lbm mean?????

tweeniewoo_2

Hi Everone
This sounds great for me - We have £41700 approx at the moment and I had my LBM 2 weeks ago .... we managed to clear £16k approx in the last 2 years but are still overspending in lots of places we dont need to be. Our DFD was 2017 but I really feel if we focus I can bring this forward to Dec 2015 which woul be amazing!!
I have subscribed and look forward to lots of motivation and shring of ideas....
Could anyone tell me how to put a signature on here as that would motivate me too!
Thanks

[Deleted User]

spent_too_much wrote: »

Been lurking for months but this thread looks ideal for me. I have 20k I need to clear as quickly as possible in order to move house. I think I can do this by December 2015 instead of 2017, if I use the money from paid off debts to then pay on to the next. At the moment I'm currently paying £800 a month. I have a loan coming to an end in April 2013 which is £150 a month and I will be moving on to the SVR with our mortgage from a 6.49% fixed rate deal. So hopefully that will be another £50 to save for emergencies.

I have two overdrafts maxed out at £5200 in total, a credit card on 0% for the next 21 months at £4500. 3 loans totalling £8000, a Next account which I owe £2000 and a H&M account with £200 on.

Not going to be easy but I think my first thing is to stick solidly to my weekly budget and not go over as it all adds up. We already meal plan, and only spend around £80 a week shopping for 5 people including nappies and baby milk. Hoping to generate more income rather than reduce current spending as I already feel we do without a lot, and our budget for the week for everything including food is only about £110.

Wow £80 a week for that many is amazing!!

We are £70 a week for the 2 of us! Really need to have a look at that me thinks.

Best of luck.

Dxxx

[Deleted User]

kittycatfan wrote: »

hi ive got 7000 worth of debt , id love to join you in becoming debt free i think ill be debt free hopefully by 2015 in a way cant wait for xmas to be here so i can re organise my finances in the year and stop buying xmas stuff good luck to everyone keep me informed dollyrocker also what does Lbm mean?????

It means Light Bulb Moment - Thats when I realised that this debt needed to be busted!!!

I'm the same I cant wait for Christmas to be gone so that I can get my plan in action.

Dxxx

[Deleted User]

tweeniewoo wrote: »

Hi Everone
This sounds great for me - We have £41700 approx at the moment and I had my LBM 2 weeks ago .... we managed to clear £16k approx in the last 2 years but are still overspending in lots of places we dont need to be. Our DFD was 2017 but I really feel if we focus I can bring this forward to Dec 2015 which woul be amazing!!
I have subscribed and look forward to lots of motivation and shring of ideas....
Could anyone tell me how to put a signature on here as that would motivate me too!
Thanks

Welcome to the gang!!

We can all definately do this. I am going to pledge to post on here a monthly update so that you can see how I am getting on.

If you go to the quick links tab you can set your signature there hon

Dxxx

Debtbusterintraining

It's all gone a bit quiet,guess its because we are all getting organised for Xmas. I'm pleased to say I finished my shopping today and i don't have the final figure but don't think I strayed too far from my budget. I've also signed up for my first challenge for next year -the £2 savers club. Anyone else doing any of the challenges to keep them on the straight and narrow next year?

[Deleted User]

Debtbusterintraining wrote: »

It's all gone a bit quiet,guess its because we are all getting organised for Xmas. I'm pleased to say I finished my shopping today and i don't have the final figure but don't think I strayed too far from my budget. I've also signed up for my first challenge for next year -the £2 savers club. Anyone else doing any of the challenges to keep them on the straight and narrow next year?

Yeah its probably people just getting all sorted out for Christmas.

I'm working right upto Christmas Eve so will be popping on & off here anyway.

I wont really have any update on the debt though until January 2013.

Dxxx

[Deleted User]

Oh & yeah I am doin the challenges in my signature!

They help keep me on the straight & narrow!

Dxxx

PRINCESSX87

May i join in please?

This is the first time i've took our "family" debts for real. Before we was living on cloud nine...Money was like water, Start the tap and use the flow. Now, The REAL world has come along and bit us on the backside. Atm, Between my OH & I (I'm 25, He's 26) we're in £10k (roughly) worth of debt. Some being more urgent then others. So with support of like minded people i feel i'm able to kick these debts into shape!! x