Pay ALL your debt off by Xmas 2014!

1_year_to_clear

Just found this post and I'm hoping it's not to late for me to join. Joined the forum last year but did nothing about getting the debt down then so have decided it needs doing now before it gets out of control. I have managed to subscribe but not even sure I'm writing this in the right place so have no idea how I would go about highlighting or pitting my amount in bold (using a mobile doesn't help) anyway enough wittering I'm looking to pay off £4000 of debt :-)

blubella

First £100 paid towards the dreaded debt....try and start as i mean to go on!

amr547

Jonesy88 wrote: »

amr - I think i'm going to keep going until May and look at things again then. If i sell all my possessions, who knows i might even be DF by then! :rotfl:

I should have paid off all my other debts by May, so... :eek: I'm conscious house prices are going up, and I'm really not saving very much!!

argomatt

Transferred £14.05 to the credit card this morning bringing my total to
#038 £42.05 / £4016.44

I have just realised that to achieve my goal of eliminating this debt before Christmas 2014 I will need to repay over £16 every day excluding bank holidays and weekends.

I dont know if I can keep it up at that rate.

Matt

amr547

argomatt wrote: »

Transferred £14.05 to the credit card this morning bringing my total to
#038 £42.05 / £4016.44

I have just realised that to achieve my goal of eliminating this debt before Christmas 2014 I will need to repay over £16 every day excluding bank holidays and weekends.

I dont know if I can keep it up at that rate.

Matt

Hey, just try your best! You should be proud to be dealing with your debts, even if you don't quite pay it all off by Xmas.

Mystikia

Hi there :hello: Can I join in?
I have 3 loans & 2 CC's to shift with a combined total of £5500 & I'm determined to get these gone for good this year.
Thanks:)

1DayAAT

I wanna be in this too please

I currently have an overdraft useage of -£3700 ( up to £5000 authorised) and £980 on a credit card (credit limit £6000). I also have a £5000 loan with Sainsburys, paying off at £100 p/m over 5 years, but which I am hoping to pay off in full this by Christmas this year (thus only paying about £200 interest on whole loan instead of £1000!)

The state of play is:

Jan 17th - Pay full months balance of credit card off at £482 (giving me another month interest free to pay off the last £500).

Jan 28th - Salary goes in (long month due to being paid earlier in December!) .. taking overdraft down to -£2900 (approx, after credit card payment, OD interest and loan payment).

Feb 17th - Final credit card payment of £500, clearing balance, leaving my 2 credit cards both at £0.00 and only M/C - then using for essential spends like petrol, and clearing every month, earning YourPoints.


Feb 28th - Salary in, O/D approx -£1900.

March 28th - Salary in, O/D approx -£600

April 28th - Salary in, OUT OF OVERDRAFT!! INTO BLACK!! (Only just!!)

May 28th - Comfortably out of O/D and able to save towards full loan repayment approx £900 per month. Aiming to have saved enough by December 2014 to be entirely debt free from OD, CC and Loan with a little breathing space on this from May onward and also longer time to pay off loan if need be, as the £100 per month payment is barely noticeable and it will help my credit rating (which is already 'good') to improve with regular running payments to this loan.

I am also on a tight austerity drive, buying ONLY essential items such as petrol, prescriptions, my pet insurance, mobile phone - no "shopping" for any other frills until this is sorted! And in sick way I am enjoying it, it's a buzz ! Making much smarter descions and recovering from a severe nervous breakdown which has forced me to address/improve many other parts of my life too. I feel brand new in 2014!
I am also going to be a £2 coin saver all year and hopefully use that, my YourPoints vouchers, Nectar points, and Clubcard points to do all my 2014 Christmas shopping! :money:

TOTAL TO CLEAR TO BE DEBT FREE BY XMAS 2014: £9682

rubywhatashmoo

amr547 wrote: »

I'm conscious house prices are going up, and I'm really not saving very much!!

Add me to the club!! Although we bought a house last year (a very CHEAP one as I needed to move into the area for work!) we don't want to stay here for too long but there's bits of work that need doing to it and I want to learn to drive - necessary so we can move house again back to where our families live!) We were lucky in that we'd saved a bit of money for a deposit, then my mum lent us £5,000 to top it up, but now on top of the OD & CC we've got that to pay back - not added it to my debt total though as it just gets paid £250 a month - but will be lovely when that's not going out of the account every month anymore!! :rotfl:

Even after that though I'd want to have some money saved up for while I was on maternity leave as I get paid more than DH and that would take a massive drop while I was off

Ooh also HELLO to all the thread newbies!! :wave:

amr547

rubywhatashmoo wrote: »

Add me to the club!! Although we bought a house last year (a very CHEAP one as I needed to move into the area for work!) we don't want to stay here for too long but there's bits of work that need doing to it and I want to learn to drive - necessary so we can move house again back to where our families live!) We were lucky in that we'd saved a bit of money for a deposit, then my mum lent us £5,000 to top it up, but now on top of the OD & CC we've got that to pay back - not added it to my debt total though as it just gets paid £250 a month - but will be lovely when that's not going out of the account every month anymore!! :rotfl:

Even after that though I'd want to have some money saved up for while I was on maternity leave as I get paid more than DH and that would take a massive drop while I was off

Ooh also HELLO to all the thread newbies!! :wave:

We won't get any help our parents unfortunately so it's all up to us Ahhh. I think saving will be the best idea for now, then I can actually do something if something comes up or hold fire if it's all going wrong! :rotfl:

minicooper272

Cornkin welcome out the shadows - you're number 104

1 year to clear it's never too late, we'll take new members up to Christmas Day next year if they want! You're number 105

Mystikia good luck with the year ahead. Youre number 106

1DayAAT I'm impressed with your game plan! Good luck with the challenge, you're number 107

argomatt don't get too downhearted if 2014 doesn't seem achieveable - there's absolutely no judgement from us. Do the best you can, and if you don't get there, carry on into next year. We're always happy for the company!

Jonesy88 sorry for getting there before you! I will be travelling tomorrow, so feel free I think you're right to wait until May, it will be a good motivation for you to not spend if temptation rears it's ugly head