Pay Off by Christmas Challenge

Lucy1982_2

Morning all.

I was thinking as I was waffling in my diary (as you do) What would I like to pay off by Christmas?

As my Slimming consultant said we are now only 6 months away. :eek:

And this is what I am going to challenge myself to pay off completely:

Style Store Card - £325.00 (Plus Interest 24.9%!!!)
Overdraft - £414.02 (if not completely at least half)

Total - £739.02

Aside from this I will continue my current repayments on everything else I owe, which will total £1,836.70 off my other debt.

I'm going to have a really sort out at home and Amazon/carboot as much as I can which will be paid into my OD account so that goes steadly down.

I don't know if anyone else fancies joining in. But I thought it would be nice to start the New Year with at least one if not two debts completely paid off.

Lucy x

Seaxwyn

Hey Lucy, I'll join you. I already joined AJolly's challenge to pay off £6000-ish by Christmas but due to some good luck I'm already on target to do that with minimum payments.

So I'd like to pay off my Sainsbury's CC (CC2 in signature) AND my overdraft by Christmas.

As of today those two add up to £2920, but of course I'll be making payments on the other debts as well, so I hardly dare add up what I'll have to pay in total.

Never mind - we all need challenges.

Very best of luck and look forward to following your progress!

shoeaddict

What a great idea - although I can't believe Christmas is only 6 months away! :eek:

But I'd like to join in please! My personal target will be to get my credit card debt to under £1000 by January 1st. That will be a real milestone, and a really great way to start the new year. :T

Bring it on! :beer:

Lucy1982_2

Good Luck to you to. I keep feeling like I needed to make real progress before Christmas and this was the best thing I could come up with

SarahNeedle1872

Hi Lucy,

I would love to join your challenge... I have this insane belief that I can get us debt free by Christmas :eek: so I think your challenge will really help to spur me on.
The biggest part of the challenge is trying to figure out how much money I need to raise to be debt free! - I think I've done it right

CC: £2548.68 - £2364.39 (already saved) = £184.29
OD: £500 - already got some money saved for this but don't know how much (not more than £50 I'm sure!) so not going to include it.
Loan: £3572 - £1339.50 (6 months payments) = £2232.50

Total: £2916.76:eek: :eek: :eek:

Bl00dy hell, now I've actually written it down, it looks really scary - thats nearly £500 a month:eek:

Still, I need a challenge :rotfl:

Sarah x

flanno_2

Hi I only started browsing this site last week and am totally addicted.

I am also getting organised for Xmas 07 and have been saving my change in my piggybank for the last 2 weeks. Also bought some 1/2 price xmas cards in Oxfam back in January (3 x 8 = 24) and have lots of tags, and wrapping paper already stashed away.

I love all the money saving ideas that this site has and will be keeping a close eye on the forum for more money saving ideas

I have also started my own grocery challenge for June/July 06 (400 euro for a family of 5 plus 1 dog and 1 hamster)

So far spent 336 euro since 12/6 so not quite on target but I'll keep at it.

Flanno alias Marie.

Storm

I'm with SarahNeedle - I really want to be debt-free by Christmas (though it'll probably be at least December payday on 31st!)

I've joined the Olympic challenge (though started on bronze, ideally I'd like to work my way up to at least silver)

The biggest thing for me though - I want to buy all the Christmas pressies with CASH!!!

GettingThingsDone

Hey Lucy - you have a slimming consultant?!

gtd

Helonearth

Time to take the plunge I think. I had already set myself this challenge privately, but I think it may be time to 'go public'!

I have a credit card with £1500 at 0% which I really want to get rid of by christmas. The major barrier for me is that after essential bills, food and petrol I am left with about £160 a month to cover anything that crops up in the way of birthdays, car repairs, shoelaces, socks, toiletries and other basics.

I currently have enough in savings that if I manage to put away £100 a month I should be able to make it.

Help me please!

Hel x

newleaf

I would like to get my credit card debt down to £2000 by Christmas. It won't be easy but I think I can do it. I want to be debt free by May 2008. This is the first time I have dared to say when I *think* I can pay it all off by, and I have added it to my siggy to keep me focussed

skint_spice

Great idea Lucy! I was due to pay Halifax CC off by end of Jan 2008 but will use this as an incentive to clear it by Christmas. Barclaycard will be clear later today so this will mean only one cc left for 2008 - and it'll still be 0% till May!
Might have to get all my pressies with pigsback vouchers though...