Pay ALL your debt off by Xmas 2013

starnac

Newlywed_Saving_Ninja wrote: »

I need some advice though on what to pay. We were going to put it all off Capital One, but there would still be a small balance left. Then I suggested paying off Evans and Debenhams completely so that is two debts completely gone, and the remainder off Capital One. What does everyone else think? We just think it would be nice to just get rid of two more debts in their entirety in one hit this month. What would everyone else do?

My advice is that this is an individual choice. Personally I get a buzz from seeing debts getting to £0 so I would pay off the two smaller debts so I can go :j 2 debts gone!!! But there are others who need to pay off the one with the biggest interest first. If you do pay the smallest ones first then you have the bonus of having those payments to snowball the cap1. What would give you a better feeling?

Oh and don't worry about the holiday. I think you both deserve time away so don't feel guilty about it. Enjoy your decorating too

SpagBol

Hi all, just popping in quickly to say:

#002 £1221 / £45000 2.71%

:j

Will stop and chat later!

minicooper272

newlywed I would have considered bonus money as 'treat' money too. It's not a guaranteed income, so it wouldn't have been earmarked to debts, and therefore won't affect your DFD, so don't feel guilty about it.

I'd also agree you should pay off the 2 debts, as it frees up 2 minimum payment amounts instead of just one. You can use the 2 savings to overpay the remaining card and get it away faster.

amr547

i agree with everyone else, pay off two then you'll feel more motivated AND you'll have the money from those two to pay towards the 3rd

kerri_dfw

I have to disagree I'm afraid, I paid off the smaller ones and am now stuck with the biggie and it's not going anywhere fast

32b3in2013

Well done to your OH Kerri, Hope his job goes well x

I am not sure about the highest interest v lower number of debts debate. If I had paid all off the money I have paid off of my credit card (highest interest and highest debt) off of other debts, I probably would have 2 or 3 less debts now. However, I feel a real sense of achievement at nearly clearing this one. I suppose it depends how you keep motivated.

Talking of said credit card, I have just had another ebay payment so my new total is

#11 - £4755.51/£10,224 = 46.51%

Another 2 buyers to pay. I hope they both pay by this evening so I can post them tomorrow, otherwise the postage is going to cost me more if I have to wait until Tuesday to post.

Happy good Friday everyone

32b3

sarahckitten

Not posted for a little while but still been working away managed to get my head round what i've paid etc. So the grand total is:


#096 2085.48/14744.16 14.1% so far.
so paid £862.30 over last couple of months

amr547

A payment due to go out Monday has gone out but hasn't cleared, but I'm going to declare it anyway

#032: £2,252 / £4100 !

Nearly there, sort of.

[Deleted User]

amr547 wrote: »

Nearly there, sort of.

Well, 54.926% of the way there.

amr547

Bedsit_Bob wrote: »

Well, 54.926% of the way there.

Hopefully on April's pay day I will be 81.2% of the way there