Pay ALL your debt off by Xmas 2014!

rubywhatashmoo

Payday update!!

#008: £5233.02/£14,413.27 36.31%

We're lucky where we live is really cheap - we've got a 2/3 bed house with a small garden for £64k and because it's cheap we overpay on the mortgage every month - I'm really looking forward to getting our mortgage statement next month to see how it's going down Every little bit helps when we're ready to move to our next house

abba1772

Rounded my account down so sent £36.94 to my credit card

Brings my total to £3057.20/£3000

IrishRose12

#148 checking in with £1270/£3000

Another £20 off this morning. Got paid today, but after spending too much last month there's not as much in my bank account as I would have liked.
Will sit down later on tonight and work out what I'm going to do.

My Catalogue account is cleared so no interest building up on that. That's a good thing. CC doesn't have to be paid for another 2 weeks so that gives me some time to work out what I need to do to sort myself out. Here's hoping I can work something out.

SpagBol

rubywhatashmoo wrote: »

Payday update!!

#008: £5233.02/£14,413.27 36.31%

We're lucky where we live is really cheap - we've got a 2/3 bed house with a small garden for £64k and because it's cheap we overpay on the mortgage every month - I'm really looking forward to getting our mortgage statement next month to see how it's going down Every little bit helps when we're ready to move to our next house

Well done...and I'm not jealous at all of your mortgage! Our house was about 4.5 times that when we bought it 10 years ago :eek: and it was a wreck so we had to borrow more 2 years later (this was when times were good, no recession or redundancies!) to do the kitchen because it was so unsafe and windows because you could put your arm through the holes in the wood :eek: and we now, 8 years later still owe what we purchased it for :rotfl::rotfl::rotfl::rotfl: I would do it all again and we have lots of equity now as the housing market has remained good but we can't get at it even though it would pay off our debt and more! :mad::mad::mad:

Mat_Lock wrote: »

It's not even the price of the house that is annoying. It's the fact I have no chance of getting a decent deposit for at least another 5-10 years.

It really is quite depressing but at least after Xmas I will be saving not debting.

I know what you mean, we got on the housing market using a loan as a deposit (before the crash when lenders were going bonkers). You could argue that's why we are in a financial pickle but we have clung on to our house (and credit rating ) with our fingernails so it was worth it for us.

We aren't a million miles away from your location so I fully understand your problem with deposits and housing markets etc.

SpagBol

Two DDs ready for Monday so we are at:

£3,384 / £49,000 6.91%

:j

In £116 we will be where we were at the start of the year before we had to increase the target :eek:

amr547

Deposits are hard, a colleague asked me how can you save on this wage? (We are on the same wage, I said my oh is on a bit less). I said you either safe and go without or you buy what you want and stay skint, you can't really do both without compromising on one or the other....

minicooper272

Mat_lock I don't envy you - we considered moving to London for 6 months, for the experience, but we just couldn't stretch to it. We earn reasonable salaries, but in London, they would be enough to get by on without saving anything.

amr living with your OH will help too. It saves a lot of money e.g. feeding two people doesn't cost the same as feeding two individuals and you always have someone to share a taxi home with

Longships

Is it too late for me to join for this year and next?

Won't even make a dent by Xmas 2014 but hope to by Xmas 2015.

Just moved in to a cheap flat and DHs wages will cover all living expenses and minimum payments (just), so everything I make can be put towards paying off debts - which sounds great except that my job is seasonal and ends in 2 weeks time, starting again in March 2015 :eek:.

There is just the two of us plus monster cat. All 4 kids have flown the nest.

Total debt right now as far as I can work out is £44,214.66 consisting of:-
£1,763.25 Credit Card at 40%+ APR!
£1,395.90 Catalogue
£1,235.19 Bank
£9,820.32 Family Loan
plus an estimate of £30,000 which is what I would hope our other creditors would accept in full & final (for the past 6 years all of these have either been getting token payments or nothing at all).

I have read all of this thread and you seem like a friendly bunch so hope I can join you

minicooper272

Hi Longships, you're welcome to join :wave: The current thread will run up to Christmas this year, so 'til then, you'll be #217. When the new thread starts, we'll get everyone that wants to, to sign up again and you'll get a new number for 2015. Good luck with the debt busting!

Glittery_2

Just gone over the £1000 paid mark. So happy :j

#211 £1560/7500