Pay ALL your debt off by Xmas 2014!

mossy · 25 November 2014 at 5:42PM

Aphidgirl wrote: »

I'm rubbish at saving money as I always ending up spending it if I have easy access to it. My solution hopefully for next year is to get my partner to open a savings account in his name, that I will pay money into each month. I won't have access to the account so I'll have to ask him for the money whenever I need it.

My other idea is the Sealed Pot Challenge. Perhaps if I put money into one of those tins that requires a tin-opener to get into that will stop me opening it until Christmas!

Anyone else rubbish at saving?

I've never been brilliant at saving, because there is always something that needs paying for!

I have been doing the sealed pot challenge and it is great. I saved £63 last year which was a life saver for Christmas and this year it was £90 which will help pay for lots of Christmas treats!

I would definitely recommend it! It's amazing how much you can save, even if you are just popping a bit of change in it like me.

They are very friendly over on the SPC thread and popping on there every now and then will keep you motivated.

amr547 · 25 November 2014 at 8:55PM

i have a 40 days notice access account with my bank, so basically i have to give 40 days notice to withdraw anything - means that i have to really think about whether i want the money or not!

Pablosammy · 25 November 2014 at 9:02PM

amr547 wrote: »

i have a 40 days notice access account with my bank, so basically i have to give 40 days notice to withdraw anything - means that i have to really think about whether i want the money or not!

40 days?! What if you need to take a tenner out for something? :eek:

GingerFurball_2 · 25 November 2014 at 9:55PM

Bonus month this month, so a little extra has gone off the loan. £1350 to go!

amr547 · 25 November 2014 at 9:55PM

Pablosammy wrote: »

40 days?! What if you need to take a tenner out for something? :eek:

I have three accounts- a current one for daily spending, a savings one with a buffer and then tge main savings where I save bigger chunks , which is 40 days notice:) the other savings is instant access but don't keep much in it else I'd spend it

amr547 · 27 November 2014 at 9:34AM

Yay it's payday! Naughty me has Been shopping in the Black Friday sales though whoopsies

Longships · 27 November 2014 at 10:47AM

Paid another £95.00 off credit card from final pay day. I waited for the statement to appear as now I'm not working I don't know if I can cover the minimum payment this month.

They had added nearly £45 in interest for the month :mad: so if I was only making the minimum payment only £14 would have come off the balance - no wonder the balance creeps up on these high interest cards!

Longships · 27 November 2014 at 10:56AM

Pablosammy wrote: »

There is a fully-featured month's trial, so just give it a go, no commitment. It takes a while to get your head around, but once you do I've found it to be a revelation. I've never really thought about how I'm using my money quite as much as I have when using YNAB, and it's like the good angel that's been conspicuously absent from my shoulder in the past!

Last year they halved the price for Black Friday, which is this Friday. Keep those eyes peeled.

Really want to get this for next year - I keep a record of every penny coming in and going out on a spreadsheet myself now but I need something to nag me when we overspend in a particular category.

Pablosammy · 27 November 2014 at 1:10PM

Opened a TSB 5% interest current account as a second account today. I'm going to put my overpayments into that as the interest after tax will be about the same as my loan, with the benefits of having cash available. As soon as I have enough to pay off my loan though, it's going!