Pay ALL your debt off by Xmas 2013

[Deleted User]

SpagBol wrote: »

What's your total Bedsit Bob and I will update the spreadsheet.

It's currently £503, but hold your horses because, in the next 30 minutes or so, it'll be £173.

EDIT: Debt is now £173.

I so want to pay it off now, this month, but I'm not really sure I can afford to.

SpagBol

Bedsit_Bob wrote: »

It's currently £503, but hold your horses because, in the next 30 minutes or so, it'll be £173.

EDIT: Debt is now £173.

I so want to pay it off now, this month, but I'm not really sure I can afford to.

Well done :T Can you let me know how much you have paid off in total so far as that is what I put in the spreadsheet.

[Deleted User]

Unfortunately, I don't know how much I've paid off, as I was paying it off before I joined.

This month, I've paid £330.

EDIT: If you mean, how much have I paid off, since I joined this thread, then the answer is £2453-98

minicooper272

Yes, I agree it's almost impossible to go through life without any debt! I intended to only have a student loan and a mortgage, but student loans weren't very big, which is why I wound up here!

[Deleted User]

I'm soooo tempted to settle it this month, and eat beans on toast till next pay day.

The idea that I won't be paying anything toward my debts, from August's pay, is incredibly tempting.

Someone please reassure me, that skinting myself by paying it now, is not a good idea.

32b3in2013

I fully intend to live with no debt at all. I live in a house with a secured tenancy and the rent is very low. When the rest of my debt is paid off I am going to save the same amount I have been paying off each month (after buying a MacBook Air!) I don't have any plans of what to save for, just going to watch it grow.

My car was paid for in cash, and it does its job, so although I want a mini coupe, I will keep current car until it gives up and then should hopefully have enough to buy the coupe with cash too. Current car is 10 years old and only has 30k on the clock so it should last for a while yet.

If this challenge has taught me nothing else, it's taught me that I don't need stuff, I have sold loads of my stuff on eBay since January and I do not miss any of it. If I missed it, I probably would have bought it again and I haven't. I still have a few more things to sell on eBay, but sales have slowed down due to postage increases, but they will go eventually.

32b3in2013

Bedsit_Bob wrote: »

I'm soooo tempted to settle it this month, and eat beans on toast till next pay day.

The idea that I won't be paying anything toward my debts, from August's pay, in incredibly tempting.

Someone please reassure me, that skinting myself by paying it now, is not a good idea.

Could you not actually pay the remaining debt off yet, but see if you have the money left just before next payday. Don't wanna leave yourself with no funds in case of emergency

[Deleted User]

32b3in2013 wrote: »

Could you not actually pay the remaining debt off yet, but see if you have the money left just before next payday.

That's what I'm thinking, but it's so tempting to pay it off now, and be done with it.

It'd be great to go into August DF.

SpagBol

32b3in2013 wrote: »

I fully intend to live with no debt at all. I live in a house with a secured tenancy and the rent is very low. When the rest of my debt is paid off I am going to save the same amount I have been paying off each month (after buying a MacBook Air!) I don't have any plans of what to save for, just going to watch it grow.

My car was paid for in cash, and it does its job, so although I want a mini coupe, I will keep current car until it gives up and then should hopefully have enough to buy the coupe with cash too. Current car is 10 years old and only has 30k on the clock so it should last for a while yet.

If this challenge has taught me nothing else, it's taught me that I don't need stuff, I have sold loads of my stuff on eBay since January and I do not miss any of it. If I missed it, I probably would have bought it again and I haven't. I still have a few more things to sell on eBay, but sales have slowed down due to postage increases, but they will go eventually.

Yes, I am the same after this challenge. I still have a splurge every now and then but it is usually on a coffee and cake with my son or a small piece of clothing from Tu at Mr S that is on sale so never a huge amount and always makes me feel good. I still never pay for parking I will walk a fair distance to avoid it. We never have takeaways except for birthdays (or when we clear a card! Forgot about that!! :rotfl::rotfl::rotfl:) and I genuinely believe my attitude has completely changed. We were zero spend all last year and it was tough, we need a little slack this year but I'm glad we did it because it changed my outlook. I just wish it had the same effect on DH :rotfl: but at least he now admits he is crap with money and lets me organise it all.

Bedsit_Bob wrote: »

I'm soooo tempted to settle it this month, and eat beans on toast till next pay day.

The idea that I won't be paying anything toward my debts, from August's pay, in incredibly tempting.

Someone please reassure me, that skinting myself by paying it now, is not a good idea.

Don't ask me for reassurance, I would say pay it off and live on beans!

minicooper272

Bedsitbob, I wouldn't recommend paying it off just now - I would perhaps ring fence the money in my bank account and try not spending it, but then it would still be available if an emergency came up or you decide you're sick of beans! It might be you can manage not to touch £120 and only £50 next month goes to debts. My experience of trying to live so frugally is that I find it easy not to spend money when I know it's there, but if I have no money, I will think of 60 things I need to buy!

I definitely could have lived more frugally on my debt free journey, but I had already lived frugally as a student, so wanted to enjoy having an income as well, and to not have to stress about spending £5 on a treat, turning the heating on when my teeth are chattering, or buying some new clothes from somewhere other than primart!