Zero Card Debt by 28 Feb 2014

Thistlewhistle

Time to take the bull by the horns.

I want to seriously begin my quest to be mortgage free but before I can begin THAT particular journey, I have to tackle my credit card debts which have been bumping along on half-hearted repayments for too long now.

So here it is - my challenge to myself:
I am determined to be free of my Credit Card debt in 12 months time so I'm setting a date of 28/02/2014 as Credit Card Debt Free Day (CCDFD).

I am hoping for a bonus by the end of March which could (if I achieve it) get rid of the Halifax balance before I get charged interest on it, hence why it hasn't been moved to the 0% Virgin card. If it doesn't transpire, I will move it.

It's going to take a bit of a mammoth effort (£390.50 per month:eek::eek:) but by seriously cutting my overspends, I know I can do it. I'm quite lucky in that I earn enough to pay my bills (I'm self-employed) but my lifestyle has expanded to match my income and I'm not paying off any of my debts. This will change for the next 12 months.

Any bonuses I receive will go towards paying off the cards. :j

I know there are people on the board a lot worse off than me and I've been reading their threads with admiration. It's inspired me to get on with dealing with things, so thanks for the kick guys!

Wish me luck!!

TW :beer:

taxi73

Welcome to the boards and good luck with your challenge.
Have subscibed x

Thistlewhistle

Hi Taxi,
Thanks for your support. I really intend to do this although I might have a few stumbles along the way if past attempts are anything to go by, but I am determined!!

TW

Thistlewhistle

I have had a serious rummage in the darkest depths of my cupboards and I have resurrected Penelope, my very large china piggybank. Guess where any spare cash is going!!
Decided to open it and throw the contents at the credit cards on the last day of every month. Should be enough to cover minimum payments on the Virgin Card whilst I tackle the non 0% ones!!

I'm sitting in bed mulling it over - need to get up and go to Manchester. I work on Tuesdays helping a former employer out with their books. £11 per hour and I'm usually there from 9:30 until 3:30 so that'll be a nice £66 earned. I invoice them as I'm self employed.

OH and I have a "fun fund" which we pay into which pays for holidays, days out, meals out etc. it works really well but I'm going to divert my Tuesday money for a few weeks. He won't mind!!

Oh well, REALLY need to get up now!!

TW

Thistlewhistle

Just been writing a shopping list during a coffee break. Suddenly realised I could live out of my freezer for at least til the end of march! It's jammed! I do this all the time. Buy bargains, and 2 for 1s, freeze the other one and NEVER use them. Have a freezer purge once a year and chuck out tonnes of food.
That's going to stop!!
Mince for tea - shall I do a cottage pie or a chilli? Decisions decisions!!

Thistlewhistle

Woohoo!!
Just had notification of a totally unexpected £300 bonus coming my way tomorrow because my team did so well in February.
That's a massive % of this month's repayment sorted already!!

beanielou

Happy shiney new diary
Great news on the bonus :j
That could shave nearly a month from your CCDFD.

unimaginative_user_name

Thistlewhistle wrote: »

Just been writing a shopping list during a coffee break. Suddenly realised I could live out of my freezer for at least til the end of march! It's jammed! I do this all the time. Buy bargains, and 2 for 1s, freeze the other one and NEVER use them. Have a freezer purge once a year and chuck out tonnes of food.
That's going to stop!!
Mince for tea - shall I do a cottage pie or a chilli? Decisions decisions!!

Hi Thistlewhistle! Good luck. I do this all the time and it's actually a good idea to have some reserves for the winter in case of snow or illness or problems with the car. However now is a good time of year to defrost the freezer, make a list of what you've got and meal plan.

Thistlewhistle

unimaginative_user_name wrote: »

Hi Thistlewhistle! Good luck. I do this all the time and it's actually a good idea to have some reserves for the winter in case of snow or illness or problems with the car. However now is a good time of year to defrost the freezer, make a list of what you've got and meal plan.

Great idea. Some of the stuff needs eating - it's on the verge of being 12 months old. I went to the local fish market one Saturday afternoon at 4pm. Got shed loads of fish cheap as they just flog it all off. Good stuff too. Salmon, trout, prawns. Might do a massive fish pie seeing as its so cold. Comfort food!!

TW:D

Thistlewhistle

Spent the rest of my day chasing up overdue invoices and managed to get a direct payment into my bank from one debtor for £397. Another £478 is on the way soon (so she said) and I have promises for cheques of £184 and £91.

So hopefully, I'll be able to clear down a sizeable chunk of debt very soon.

Paid the £397 off the Halifax CC. Might need to borrow back but we'll see.

I really ought to keep on top of my credit control. Just one afternoon has netted over £1000!!

0% balances are brilliant but sometimes they really give you an excuse to take your foot off the repayment gas.

taxi73

Thistlewhistle wrote: »

Spent the rest of my day chasing up overdue invoices and managed to get a direct payment into my bank from one debtor for £397. Another £478 is on the way soon (so she said) and I have promises for cheques of £184 and £91.

So hopefully, I'll be able to clear down a sizeable chunk of debt very soon.

Paid the £397 off the Halifax CC. Might need to borrow back but we'll see.

I really ought to keep on top of my credit control. Just one afternoon has netted over £1000!!

0% balances are brilliant but sometimes they really give you an excuse to take your foot off the repayment gas.

Absolutely fantastic:T:T:T:T