Pay Off by Christmas Challenge

Thistle-down

I'd like to join too - I have £2324.31 to pay off and would love to do it before Christmas!

I have lots of stuff to ebay / boot sale, the challenge will be that we are trying to move house during the same time frame.

Tete_en_l'Air

Hello,

I chanced upon this thread during a particularly quiet morning at work today, and it's exactly what I need! I've been doing the 101 Day Challenge, which has gone quite well except that I was hoping to get my overdraft down to £1000 by the end (19th Aug). This is obviously not going to happen at this stage, but I think I'm in a better financial position now than I have been all year and was thinking I'd challenge myself to pay off all my debts by Christmas anyway.

I want to pay off my credit card and overdraft as detailed in my sig. I'll try to get the card paid off in two monthly instalments, then concentrate on the O/D. £2205 seems like a daunting amount to pay off in 5 months, but if you aim for the moon, even if you miss you'll fall among the stars!!

Altogether it will mean saving £440 per month, which really should be do-able in my current circumstances. For me, it's going to be a matter of limiting my spending and from today I'm keeping a strict spending diary (£3.74 today on a scone, jacket potato and a swim-must try harder!!) And the £2s in my owl, which I was saving for an iPod, can be put to better use here I think, the iPod can wait!

Well done to Lucy for putting the idea into practise-great minds and 25-year-old-Lucys think alike!! And good luck to everyone, keep up the good work!

Lucy

SarahNeedle1872

£4.30 interest from my bill 'saving' account, up to £510 now - no way am I gonna make my target!

Sarah x

Lucy1982_2

Hi Sarah

I don't think I'm going to make mine either, but I am going to keep try as I guess anything is better than nothing. I'm just going to aim for as close as I can get and be happy with that. I always knew that to pay all of it was going to be a long shot, it's just that life as gone against me on this one!!

But try to keep positive and remember that something is better than nothing.

x

skint_spice

Hi Lucy,

Another £300 towards the challenge paid off today, might have a wee bit extra at the end of the month from ebay sales but not a fortune! I'm planning to do a car boot sale towards the end of the month with a pal so hopefully should make a wee bit from that too.
School holidays and new school shoes etc this month though so it's not gone as well as I'd hoped!

Lucy1982_2

Still looks like you are doing well.

Well better than I am anyway. Still hoping to do my car boot at the weekend although the weather looks to have changed and it might rain!!! Which is not allowed.

But I've had £22.13 transfered into my account from Quidco so that is going to go towards my Lloyds OD. In fact I think I might change my pay off total:

Store card stays the same
A and L OD - £411.80 (current balance)
Lloyds OD - £180.47 (Or about there)

Which means I need to find £830.27 by Christmas!!! OMG!!! So perhaps I'll look at paying off Lloyds in total and half my A and L account which leaves me with £630.27 to find. A bit more managable I think.

Well we will have to see how things go.

Good Luck

Lucy1982_2

Just had a couple of things sell on Amazon so I have updated my sig... Money gets transfered on Monday so looking a bit better. Still going to aim for the figure as a total but across 3 debts instead of 2.

I still have £22.00 from Quidco to add to it, so I might go and do that now. It'll go towards paying off my Lloyds OD at the end of the month. Hopefully will do ok at the car boot. Going to raid the house tomorrow for more things to sell.

Hope everyone has a good weekend x

Lucy1982_2

Had another 3 books sell on Amazon! I've updated my sig, and it's looking a little healthier now. Just hope that the car boot does well tomorrow.

I'll let you know.

But my A and L OD has finally dropped below £400 which is very exciting.

SarahNeedle1872

Well done Lucy...:T

Things have slowed up a lot for me since going back to work this week- I didn't realise just how organised u need to be working full time and having a baby! I don't do organise too well
Got some things on eBay, so I'm hoping they'll go well - trouble is now that I have re-discovered eBay, I keep spending all my PayPal money on stuff for DS!!!

Oh well, things will settle I'm sure! Keep it up Lucy, hopefully ur progress will motivate me back into action!

Sarah x

Lucy1982_2

Will do Sarah. I love being organised...

Just had another sale, so have updated my sig again.... It's starting to look good. Still hoping for good day tomorrow and some more Amazon sales would be really nice to!! Not that I want it all NOW or anything.