Pay Off by Christmas Challenge

SarahNeedle1872

Sold another two things on eBay, just waiting for the payments to come thru, then pay fees, so I can post total profit. Decided to put my £2s towards the debt, as they add up so quickly, so another £104 to add, plus £20.20 profit from MBing account...
Total so far - £733.23

Sarah x

Lucy1982_2

Well Done!!

I paid in the car boot money yesterday and the coppers that were in my bumble bee. Still have some money bags at home so will keep saving them.

Lucy1982_2

Hi!!

As some of you will know I had to go back into my Lloyds OD :mad: . I was wondering if anyone would mind me adding it to my pay of by Christmas challenge and up the figure I need to pay. I'm now going to need to pay off about another £222 (subject to change!!)

I have worked out a little plan and I think I can actually pay it all off by Christmas as I first hoped. It'll mean some hard work and actually learning to stick to my budget for once (not a bad lesson) but I would like to give it a go.

So does anyone have any objections to me adding it to my total? I may have to change it, but I'm hoping it's not going to be much more than £222!!!

Thanks

skint_spice

No objections here! Good luck and remember that life goes on and not always according to plan...

I'm about £40 up in ebay sales at the minute but waiting to reach the magical £50 before transferring it from paypal. still looking things out for a car boot sale hopefully towards the end of this month.

Fannyfanackapan

Hi, is it too late for me to join the challenge please?

Lucy1982_2

No it's never to late!!!

I'll add you to the list.

Fannyfanackapan

Hi and thanks for letting me join the challenge.

I am quite new to all of this and have been crash dieting for a couple of weeks. Have cancelled the Gym membership, sorted out my BT account, switched some balances to a new 0% deal and cancelled some magazine subscriptions. So far so good.

Now I want to set myself a longer term goal. Haven't figured out a debt free date yet as there is a lot of working out to do as I want to include the mortgage in that target
:eek:
So currently I manage to go overdrawn 3 weeks into every month, usually to the tune of around £1000. Also I have to pay for some new furniture I am already committed to at the weekend which is going to stick me for £550. Finally I have a holiday balance to pay in September of £800 (although I will get £250 back of that from my friend who is coming with us).

So my target for the Christmas challenge is to start the new year by getting all the way to payday still in the black and to have paid the furniture and holiday off of my credit card.

Total challenge target £2,350. Scary - but I like a challenge.

How am I going to do it?

1. Major eBay selling spree (target: £300)
2. Cut cigarette count by half (sorry - not ready to completely give up the weed yet:o ) (savings - around £350)
3. Stop buying stuff I don't need (savings - probably £200 a month)
4. Do my best to negotiate a good pay rise (it is review time in October)
5. Go for as many NSD's as possible.

That's not going to be enough to do - but I'll think of something

So good luck to all of you and fingers crossed.

Cheers

F

Lucy1982_2

Good luck.

You'll be amazed what you can do once you put your mind to it. Just remember that every penny saved is more off your debt and brings you one step closer to being debt free!

Have you had a look at the snowball calculator? If not let me know and I'll post the link.

Fannyfanackapan

No I haven't seen the snowball calcutor yet. I have downloaded the budget spreadsheet and am working on that at the moment.

I have also dusted of my old pink china piggy bank and am going to start saving my £2 coins.

Going to spend an hour or so listed some ebay stuff this evening. Hopefully make some contributions to the challenge over the next few days.

Thanks


F:T

Lucy1982_2

http://www.whatsthecost.com/snowball.aspx?country=uk

If you put in all your balances, APR's, minimum payments and then how much you can afford to spend on your debts each month and it works out how long it will take you to pay off.

Good luck with ebay. I need to look into that one myself really.