Pay ALL your debt off by Xmas 2014!

mossy

SpagBol wrote: »

I love this percentage! How pleasing! :rotfl::rotfl:

lol, yeah I guess it is.

Toomuchdebt

Well slowly slowly it's going down-I'm going to try and get £3000 paid off by xmas but I don't know if I can.I'm now on

#165 2734.1/4000

YoungBusinessman

Is there a 2015 thread yet

minicooper272

YoungBusinessman wrote: »

Is there a 2015 thread yet

Not yet, we won't start the next challenge until this one ends, but you're welcome to join in with a mini target for Christmas this year better to hit the ground running!

happybunny86

Ive not really been that good of late. Since I got my promotion at work I've been a bit silly with money. I also moved in with my boyfriend so I didn't have to be as frugal! On the positive side I haven't got into any debt and I have stuck to all my minimum payments. My signature is slightly out now. I'll update on Friday but I think I'm at £1500 left to pay off. I've done a proper budget this month and I think I can pay off £750 of that so all going to plan I should be debt free by the end of the year of I up my game the last 2 months. My pay days are a bit funny so I will have a pay day on the 8th jan. If the worst comes to worst will pay everything off with that pay day. Hoping that still counts as paid off in 2014 as I'm being paid I did for the work I did in 2014?

kirstydriver

YoungBusinessman wrote: »

Is there a 2015 thread yet

I'm working on my 2015 target with this thread

Pablosammy

It makes no sense, but I've paid off my 0% Moneyway loan early as it only had one payment left. It means I'm not tempted to spend it! £143.80, and I'm down to one commercial loan and one student loan. Bring on 2015

Pablosammy

kirstydriver wrote: »

I'm working on my 2015 target with this thread

I've only joined recently, so 2015 is my year too. I've already got my 2015 target in my sig

How does everyone account for cash in their current account at the end of the month (if any!)? Do you offset it against your debt on your spreadsheet, or make an overpayment? I don't want to overpay until I can pay in full, as the interest difference is fairly negligible (4% loan vs 3% credit interest) and I'd rather have the funds as a safety net.

amr547

Whatever I have left this year will be carried forward to next year and will be my final target! Can't wait. I never want to have debt again, well except for a mortgage.

argomatt

I have decided this time to have a try at the debt snowball method of becoming debt free.
The theory is to clear the debts from the smallest first, instead of from the highest interest rate.
I checked and I have about £700 outstanding on my student loan which I am repaying by direct debit instead of out of my salary. So despite this being a really low interest rate, I have made an overpayment of £340 today.
My idea is that the sooner I have cleared this, then the sooner it's £128/month payment can be allocated to overpay the car loan.
I hope to have the student loan cleared by the end of this year