The 'extra payment every week' thread 2014

DellyC

£10 paid this week

System

Raided my savings to pay £700 from my loan today Wish I could pay the whole thing off.

FlacosFloozie

Bank account skim of £9.52 this week.

please-let-me-be-lucky

£20 for me this week. Amazed that my total for the year is £75 already!! Who would have thought I'd manage that much within 4 weeks OF JANUARY!!! :eek::T Xx

Trixxibell

Hiya can I join please?

I did start with you all in January in practice but was a wimp and didn't register with MSE until yesterday....lol

My total in weekly overpayments so far this month is £219.73! Like please-let-me-be-lucky I never thought it would be possible to make overpayments in January. Xxx

System

£11.12 account skim for me today :j Have tried to pay extra off loan using internet banking, hope it works. Advisor on the phone said it didn't always work, which has confused me. We shall see

daggy37

Hi can I join please ? I like the idea of rounding down the account every week I think I'll try that .

beth2242

I really want to join this challenge but I'm unsure how to go about it? I'm on a mission to get my overdraft paid off but don't know what to use or what rules to set myself to make the extra payment? Any ideas please??

please-let-me-be-lucky

Welcome Trixxibell and daggy37.

beth2242, you can make your own rules as long as it's over and above what you do already. It may be that you can ring your bank once a week and ask them to reduce your overdraft by what ever you can afford. Be aware that they will only do this as a round number i.e £5 or £10, or they may have a minimum amount of £50 for example. Worst case, they may say they can't reduce it at all, only remove it completely.
Do you have a savings account? You could transfer an amount into there every week instead, and then only reduce/remove the overdraft when you have a large amount. The benefit of doing this is that you could join those that skim their available balance and move odd pounds and pence rather than just round numbers. The disadvantage is that the money is accessible in the savings account so you have to be sure you wont spend it on something else.
Hope that helps Xx

Hope78

Hi There

Have just re-committed myself to MSE after a far too lenght absence and getting stuck in ith challenges. This one looks right up my street. I'm hoping that extra payments will help me cut my DFD.

Thanks