Pay ALL your debt off by Xmas 2014!

minicooper272

Hi Thrifty Fashinista welcome - you're number 128

I've updated the spreadsheet and front page now

judi24

Seems like lots of people are feeling a little low today!! we can and will do it! It depresses me so much when I think about how much I have borrowed and paid back over the years - but not much point in dwelling on it!


I have a plan to pay £1000 per month off my debt making me CC debt free in just over 9 months (9 months if I can find the £477 I have over 9k!). I will be putting £250 away a month for big expenses such as birthdays, holiday, car repairs etc however I have my DD2 21st next month - I said she could have a house party (to keep costs down) but will still have to pay out for food etc. I am not buying her a big present as she got a combined Christmas and birthday gift at christmas. I also have £80 in Prezzo vouchers from Texxo clubcard vouchers so meal out paid for.


Now wondering if I should slow my repayments a little as I really don't have an emergency fund - panicked tonight as it appears I have a leak somewhere on my extension roof - think it might be the lead flashing but need to get it looked at! At one point i nearly had a melt down I i thought it was coming from the bathroom which would be so much worse!!!!


Do I risk slowing my payements a little and building up a small emergency fund - or pay debt as fast as I can and pray nothing happens in the mean time????

Cantfindafreeuserid

I have never had any form of saving or emergency fund and this is why I have so much debt now I think or at least a big factor towards it! I am paying what I can off my debts and making small extra payments but also putting the odd pennies and pounds into a new saving account so I have some kind of savings. It's only just over £5 at the moment but hopefully I can build it up this year without having to dip into it! I need some form of security blanket when it comes to money as its too easy to say ok I will put that on the cc hence now owing so much :-(

I am also on a very very low income so can't just find money very easily I try to be frugal but the debts are killing me hence why I am so determined this year even if I have to eat beans on toast for a week or more lol

rubywhatashmoo

I went through my bank statement this evening and worked out how much I've spent on "stuff" since being paid at the end of December and I am SHOCKED!! :eek:

Some of it has been sensible (new frying pan woohoo!) but mostly it was just on rubbish - booze and crap food over xmas, and quite a lot of junky stuff from ebay that I really could have done without! :mad:

It's good in a way as it shows how "easy" it should be to cut back if I stick to this mindset next month, but I really wish I'd thought seriously about clearing the debt even a month earlier as it would have made such a difference already

Thrifty_Fashionista

minicooper272 wrote: »

Hi Thrifty Fashinista welcome - you're number 128

I've updated the spreadsheet and front page now

Thank you!!
TF x

minichick31

Woop, a quick update from me.


098 £207.77/£5500 3.77%

Smarter_and_harder

Hi everyone,

And a very happy, positive, money saving Monday to you all!

After a week of feeling a bit rubbish every morning I have put that behind me and done a couple of sections of my Davina DVD this morning. Start the way I mean to go on etc! Knackered now!

So, although my fitness hasn't taken off the first two weeks of this year my money management has!

I have written budgets for the first time in my life! And have had plenty of NSDs where I could have easily spent but chose not to. Small starts but all helps towards the final goal. :T

My OH and I have also had a think about what is happening this year to break the year up - holiday in March (EXCITED!), weekend to see family in April/May, Europe weekend in July, day trip/weekend away in August and something for OH's birthday in October. Which makes the weekends we don't spend anything much more worth it!

And I have found subscribing to this thread and reading all the updates each morning really helpful to keep me on track, so thanks to everyone for sharing!

So far we have managed to pay off £170.49 just from direct debits (I'm #062 for the wonderful board monitors!) but this week we are going to move some pots of money around and make a pretty hefty pay off to a cc before it incurs interest, so looking forward to sharing my next update!

Have a great week debtbusters!

Rachiedabbler70

minicooper272 wrote: »

I think I live in a time warp sometimes. I bought my car 2 years ago, and it was 8 years old. I realised last night that it's no longer 8, it's now 10 :eek: Need to start putting money aside for a new one, just in case something breaks worth more than the car.

I'm getting really depressed thinking of all the things I need to put money aside for right now. I think I need about £15k to cover everything, which will take a few years even if I'm very frugal! This is when I get really depressed when others seem to be able to pull together the money in 5 minutes flat

Don't get down. (((Hugs))) At least you are trying to save for it. I bought my car with a partial loan hence the need to now pay off. I bought a new one this time to save the worry of repairs but the price was taking out finance.

RaspberryRuffle

Well things are feeling a bit if a struggle here at times too, seems it's the same for lots of us. The waiting to be paid to get going sure is frustrating!


Last night my hubby decided he wanted a fryer in the asda sale @ £25. I'm feeling annoyed that we bought it as it'll probably end up being a dust collector. HOWEVER normally any purchases outside my shopping budget het bunged on the CC and this never, we paid in cash so my ways are a bit better already. I've taken them out of my purse forcing me to be a bit more organised.

Also itching to book a Sun holiday for Easter, we love them! But we are saving for a trip to see family and can't do it all. Temptation is painful!

Keep up the good work everyone, I'm hoping to pay another £700 off by the end of the month. Chins up to those struggling.

eecjwd

Could I join please

£10536