A Payment A Day - Chapter 14

mandz1

30th March total








£2128.53

Keith1985

Thanks for the warm welcome all.

My pad today is £1.07

xx_Jo_xx

Hey all :hello:


I hope that you are all doing well on your personal journeys... I haven't posted for a while but I wanted to share something with you all and hopefully it may encourage someone. To explain, I have had several lightbulb moments along my particular journey and have had debts of varying amounts... However this most recent leg of the debt-free journey started in August last year, and I had £15.5k of Credit Card and unsecured loan debt alone. At this point, I discovered "Padding"


Like most of you I have pondered over whether I could do daily payments, I tried it for a while, found towards the end of the month I wasn't so good at making the daily PADs etc etc... many of the same issues I see you guys debating over. I have however discovered when looking at my spread sheet today - it works out that I have paid off a massive £2121.45 since I started this in October!

Some of this admittedly includes minimum payments - but this is a huge amount that I wouldn't have managed otherwise. In addition to this, I also now have £1000 in a savings account to pay for car breakdowns or any other unforeseen disasters and therefore avoid using poisonous CCs in the first place, which is an awful cycle I have been unable to break before now....

I also have a Terramundi pot in the kitchen cupboard which has mostly £2 coins in it, but is also a continuing work in progress - when this is full, the contents will go to further reducing the debt so haven't been included in the PAD total as yet!


So, although I still have a long long way to go - I just wanted to share with some of the newbies that PADding, however you do it, really, really does make a difference.


Good luck all

milky1991

target Targets Targets

Oh yes.....................

First my pad today is £55.54

This takes me to over 10% of my debt paid off AND sub 11K:j :j :j :j :j :j :j :j :j

COOLTRIKERCHICK

my PAD for today is £20.00 off a cc

angelbob

My PAD today is £5.88 xx

Igamogam

£5.90 to The Debt

Fab fab post xx_Jo_xx:D

Looking forward to taking over the adding up reins from Mandz who has done a sterling job for 2 months

Adora-Bell-Dearheart

Hi hope this works! Would like to join up too please!

Time_to_face_the_music

Good morning fellow PADders

Happy 1st April

Today's PAD is another £1.61 to MBNA please :T

Great post xx_Jo_xx - why not stick around and PAD with us

Hi and welcome to Adora-Bell-Dearheart

Thanks to Mandz for being our super duper March counter upper and to Igamogam for taking over the role for April :j


Have a super day everyone

Erme

jet9cat wrote: »

Hi everyone and thanks for all the good wishes on my new job. I must say there was nothing like the possibility of redundancy to focus the mind on debt busting and emergency fund saving even with the promise of a pay off!!

PAD today of £120.19 plse, Mandz

That's what gave me my LBM years ago :j - facing a possible reduction in income. I soon got my derriere out though I didn't get the reduction in income but I still continued with my debt busting

Being debt free gives you such security

COOLTRIKERCHICK wrote: »

thank you for the very warm welcomes...


going to see how much I can over pay today..


I have now started putting the pennies/change I find in work ( my own business) into a pot to add to the PAD ..


How long have some of you been doing this?

I've been doing it a few years. I tried various challenges on here. Some worked for me - a lot didn't. This challenge worked for me because no one judges you. You can pad 1p a day or a fortnight or whatever and people will still praise you. It's not so much the actual amount I figure but the heart and the ethos.

Have you looked at a debt snowball? Just a thought. Ignore me if it's not helpful http://www.whatsthecost.com/snowball.aspx

Might help you? Might not. Helped me pay off my pc the other year and really made a difference :T

Anyhow most of my savings from last fortnight went on vet bills. Had to spend £90 on small furry for antibiotics, pain killers etc and then she choked on her medicine and popped her wee clogs. God was good though and most of it was paid for in a fuel bill refund but still.....

I can pad today but it'll just be charity pads in 2 weeks as I have the summer to pay for

so pad today of £100

E