Pay ALL your debt off by Xmas 2014!

amr547

ok, i'm going to have to pull some money from my back up savings in order to stay in the green this month. damn my stupid financial mismanagement!

[Deleted User]

amr547 I will probably have to do the same.

Dxxx

amr547

its because last month was bad, and therefore it has impacted on this month and unless i pull out the savings its going to impact on next month as well:rotfl: nightmare!

32b3in2013

Wanna_Bee_Free wrote: »

Here here from here too!! Thanks Mini and the gang and everyone on here, you are all really motivating!

Thanks Mossy, I have decided to budget in cash and so I have done something rather sad and taken out my June money and put it in 5 envelopes. I've even drawn a little box on each one so I can track what I've spent as I go along. When it's gone it's gone. Feeling optimistic but a little daunted. And pleased with myself for using what I had to hand rather than buying some fancy pre printed envelopes or something!

Are we in payday 5 or 6? When I was calculating my £775 target I used 7 more paydays instead of 6?

I get paid on the last working day of each month and I have had 5 pay days so far this year. There are 7 more pay days for me this year, but only 6 for paying off debt before Christmas as the 7th will be 31 December,

Bublin1

Wanna Bee Free - using cash envelopes is not 'sad'. I strted doing that about 4 months ago and it has been invaluable in managing my money. I use them in combination with online savings accounts (piggy banking). I have 6 online accounts with natwest which are all lined up nicely when I log in and about 8 cash envelopes at home. After a monh or two you may end up creating more envelopes for categories you forgot about.

Wanna_Bee_Free

Bublin1 wrote: »

Wanna Bee Free - using cash envelopes is not 'sad'. I strted doing that about 4 months ago and it has been invaluable in managing my money. I use them in combination with online savings accounts (piggy banking). I have 6 online accounts with natwest which are all lined up nicely when I log in and about 8 cash envelopes at home. After a monh or two you may end up creating more envelopes for categories you forgot about.

Thanks Bublin, I suppose in this modern age of on line 24 hour banking, phone apps etc I am just surprised that I am trying cash in an envelope but it's more real somehow. I hope it works as well for me as it did for you!

BirdSeed

Hi there,
Hope I'm not too late for May's update? I paid the bills yesterday so it was kind of technically still in May although I doubt they will reach the relevant companies until Tuesday or Wednesday?


It only just dawned on me that when I reduced my target I shifted some debts to this DFW, therefore I have made a whopping change to my outstanding balance. I couldn't really afford to pay the amount I did but I have cleared 4 outstanding debts ranging from £40 to £105 each. I'd had a few nasty letters as I was behind with the payments and didn't want them lingering anymore.


I have also created a little spreadsheet which calculates my MSE DFW figures as I really benefit from visual aids.


Paid another £413.55 = total paid £2,002.58/£7,365 = 27.2%

Buffythedebtslayer

Thanks for doing the update MiniCooper. That's just fab XX

minicooper272

BirdSeed wrote: »

Hi there,
Hope I'm not too late for May's update? I paid the bills yesterday so it was kind of technically still in May although I doubt they will reach the relevant companies until Tuesday or Wednesday?

Don't worry, I take updates whenever. It just means whatever payments you've made will count towards our June total, rather than our May total. I just cut it off at midnight on the last day of the month for ease!

amber03

Cannot believe I have not updated since mid april where does the time go. Anyway new total is now NO.15 £1880.09. Will have to do some serious saving if I want to meet my target by xmas.x