Wooohoo but what to do from here?

Hayley33

My two loans which were £292 and £156 per month have finally ended. I've paid my last payment of £292 this month ( 12,500 loan)
In the time we've been paying these off tho we have found this steep and have other debts to also clear but nothing in the scale of these so I'm not too worried. I now am in my overdraft and so is my husband and we owe roughly £2,500 on a c card which we are paying a big payment to it has already come down from £3,000.

This year I need to - work out a plan to clear my credit card, overdrafts and we also need to purchase a new car.

I would like to be out of my overdraft by this time next year and have some money saved and be chipping away at the CC.

Any advice?

[Deleted User]

If you are used to paying out these amounts then keep paying them but to your other debts.

They will be gone in no time.

Congrats on paying off the loan!

Dxxx

National_Debtline

Hi Hayley33

Well done on your progress so far - it sounds like you have that all-important positive momentum.

I echo DollyRocker's comment above, but I would also recommend that you start keeping a spending diary if you're not already doing so. You could do worse than use this template to put together a list of your outgoings:

http://www.stoozing.com/calculator/soa.php

as you can then post the figures up here so that forumites can highlight any areas where you can make savings, thus helping you eat into the CC & overdraft even more quickly.

Kind regards

Dennis @NDL

dreamdreamer

Excellent! I too think you should not think of this as more money every month, but rather bigger payments to your OD/credit card. I would definitely be hanging fire on buying a new car until it's all paid off, if possible. It sounds more than plausible that you could be entirely debt free this time next year, if you continue to pay that £450 off the credit card/overdrafts.

Use this snowball calculator to work out how soon you could be debt free!

Congrats on your progress so far xx