The 'extra payment every week' thread 2014

Aphidgirl

Hi everyone,

Please can I join your lovely thread? This is a great idea and I've actually started doing it this month, making small extra payments to my credit cards when I can.

Here's my debt situation at the moment:

Natwest Loan: £3058
Natwest CC: £755
Nationwide CC: £690
Tax Credits Overpayment: £1860
Bank of Mum and Dad: £350

I'm paying more than the minimum on the credit cards at the moment to try and get them down asap. I think my plan is to throw all the extra payments at the Nationwide one, as its the smallest balance of the two (they are both the same APR, 16.9%).

This weeks payment was £3.58, total extra payments so far since starting at the beginning of august: £12.46.

Happy debt-busting!

please-let-me-be-lucky

Welcome Aphidgirl, of course you can join in. It comes with a warning though, it can get very addictive!! Xx

jaxsmar

ok my debt has increased my credit card has taken a hit... back to the drawing board, however life throws some punches and you have to roll with it. I've had a quick look through and I have achieved clearing 1 credit card and 2 store cards. (debt now just two accounts) I see B.T are putting their prices up again!

jaxsmar

overpayment today on my bank loan £10.09 (saving £6 interest)..the bank loan has an end date I think I will chip away at that first instead of the credit card??? But the credit card has the higher rate of interest, I suppose the End Date of the Bank Loan is like a red flag... I want to finish the crossing line earlier... yeah I know it's all in my head!

bramalfie

Payday yesterday so I made an overpayment to my Very account paid £40 instead of £22 so an extra £18 and also paid £100 off my business account overdraft that they are making me pay back I would normally pay back £50 so that's an extra £50 paid off.

Anything extra I pay off will go to the overdraft as I've only got £181 left to pay back.

Aphidgirl

Payday today :j Got a bit more than usual so have paid a bit extra off the credit card. So this weeks extra payment is £30 (signature updated).

nearlytherenow

I love the idea of this challenge, have just enjoyed reading through. Whilst reading I was thinking "that's a great idea, I might do that challenge next year" then I thought why not start now!

I read about paying the extra from your bank account on a Friday so I'm going to do that starting tomorrow. Thanks everyone for the idea. I'm now in 3 challenges starting tomorrow so think I'll add the info into my signature.

emm85

Hi :wave:

Can i please join? I have quite a few debts but i think i'd like to start with my Barclaycard which is at about £900 at the mo. It's been haunting me for a long old time!!

jaxsmar

Hi Emma85 welcome aboard

nearlytherenow

Made my first extra payment today :j

I checked my bank and had £5.83 so went to credit card payment online to pay that, but then remembered I was £25.49 over my credit limit and paid that instead, so back within limit which will minimise charges.

Next payment next Friday.