Pay ALL your debt off by Xmas 2015!

cwtchingpennies_2

Hello,

I wld like to join, i lurk along and soooo want to rid the debt next year. I will be back with total when i have worked it out.

I've up'd my hrs in work and working overtime ontop (small amount) so hope to do it.

I have also been moving any loose change in bank account (anything less than either 5.00 / 10.00 depending on budget) over to my very account aswell, been doing this for about 2 weeks and really noticed the difference.

Everyone is doing great

Pablosammy

Right guys... mega update time! I've got 5 pages to plough through, so I can't reply to everything. Suffice to say, I've had a skim read and it feels like we're going to buck the 'February dip' so keep at it! There are some fantastic figures being bandied about, and some great stories too. Here goes...

nolongerindenial wrote: »

Can Update from last year and do I change my number or use a new one (ive been continuing but forgot to post on here (sorry))

Debt free by Xmas 2015: #182 £298.33/£4435.51 (6.7%)

Its been a long time since I posted, spent nearly 6 month turning my business around since ebay chucked us off, and now despite turnover being lower than I would like, we are making more profit than ever

overpaid on the agreement with the mortgage company for the arrears today, hopefully if we have our way and takings stay as they are we will have that paid off in 3 weeks, and then its onto the credit card and clear other arrears balances...

Welcome back! I've given you your old number to keep it easy, you should see yourself on the front page soon. :T

nolongerindenial wrote: »

Well, today I've had the shock of my life, £1133.78 refund I got denied in 2009 when applying for a ppi refund 5 years ago :shock:

Cheque should be here in 28 days :th:

That will be a large chunk of my debt paid off :money:

:eek: That's fantastic news! I'm only slightly jealous. I don't think I ever opted for PPI, so I can't claim unfortunately. Let us know when it arrives

rubywhatashmoo wrote: »

When we applied for a mortgage I had about £1500 on a credit card and the amount they would offer us for a mortgage dipped by about 50K!! Craziness, if you've got any debts that you're paying interest on definitely get them paid off - I'm lucky in that I only pay fees for my overdraft (which fingers crossed will be cleared in 19 days!!), but I still just throw any spare money debtwards as I want rid of them for goooood!

Thanks for the tip, it'll all come in handy when it comes to buy. We're hoping to keep the mortgage modest, so it might not matter, but I've never had one before so any advice is appreciated.

Pablosammy

ali_bf wrote: »

Just paid a couple of bills and still feeling disheartened as my overdraft (which has crippling charges) still isn't coming down as quick as I'd like. Still, the debt is reducing. On a more positive note, one of my mortgages is finished in 3 payments which will save me a grand total of £258 a month. All these unexpected bills and the forced purchase of a new car isn't great but heading in the right direction. Roll on January 2016 when both cars are paid.

If the debt's going down, it's not going up. Sorry for the meaningless soundbite, but it's true - most of us are here because we didn't recognise the mounting debt. The first priority is stopping it increasing. After that, you can start working at reducing it. So KEEP GOING! You're doing well.

SpagBol wrote: »

Oh well...could you just make up something exciting? I could do with a bit of intruige :rotfl::rotfl: I'm stuck at home with a poorly baby and I'm snotty myself so anything would do

I've won the Euromillions, and will be paying everyone's debt on the thread off as soon as the money lands!!!

bogbrsh250 wrote: »

thanks. yes that's what im hoping to pay off


got myself a list of targets for financial freedom.


1 be current with bills
2 hammer debt as much as possible
3 don't run up bank charges
4 save for a house(to buy in full with cash)
5 seek out bargains on essentials
6 live on free as much as possible


list of current debts:


sigma £205
loans to home £60
credit union £1685
HMRC £580
NatWest overdraft £750


any tips and tricks appreciated. some of the best ive found yet have been from a guy called dave ramsey


just opened a credit card to help build up my credit score incase I cant save soon enough to buy a house in full and got a small emergency fund. car is currently broken down so im saving money by walking to work. its only a mile and a half so its copeable. possibly looking to scrap my car if need be ad try and get money back off insurancre to help

Welcome, #151! Sounds like you've got a plan, now the job is to stick to it. Things may seem far away sometimes, but time has a habit of melting away so don't let that put you off.

I'm intrugued by the 'buy a house in full with cash' target! Do you already own, or are you looking to skip the mortgage altogether?

Pablosammy

IvyandEleanor wrote: »

Hey everyone, sorry I've not been around for a while. I think I pummeled it too hard in the first 2 weeks of January and have been absolutely skint ever since so no more payments yet I'm afraid. Also my interest has been added on after my statement date so my debt will have gone up

I also pulled my back out just before Christmas and am still seeing a Chiropractor twice a week (dropped down to once a week from now on thankfully) plus my Pilates weekly 1:1 session so it's been costing me a fortune. I finally feel as though I'm getting somewhere now and I can feel myself getting more flexible! :T

Speaking of which, I have a date coming up!!! :rotfl: Luckily due to work schedules (he's a pilot :heartpuls) then we can't actually meet up until mid March but at least that gives me 4-5 weeks to lose a stone and tone up (plus get my hair done obviously!) :rotfl: We've been out before years and years ago and he's lovely but I'm so nervous! He's 6 yrs younger than me and has a body like a Greek God... Maybe I should just ask him not to wear his contact lenses... :rotfl:

Hope everyone is well, I'll update my total next week once all my usual DD's have been taken xxx

Oooohhhh, that sounds like something out of a rom com! Good luck, you know who to update first when the date's happenened :rotfl:

That's rubbish about your back though, I guess NHS waiting lists are too ridiculous to even bother with?

Kittycat1981 wrote: »

Hey all x

Great to see so many people still on the wagon.

Ive had some fantastic news. I GOT THE JOB! I had two interviews in 4 days and got both jobs. I took the second job offer.

Its a secondment for a year, full time with a payrise. After tax, NI and Pension i will be £560 a month better off Im over the moon.

April will be the first payday with the higher salary - so looking forward to paying it towards the debt.

Ive worked out i should be debt free by November if i stick to my spreadsheet and also have enough to pay for our holiday outright for this year and next.

Wow! Congratulations! :T:T:T That's a great payrise, sounds like it could be a real turning point.

cwtchingpennies wrote: »

Hello,

I wld like to join, i lurk along and soooo want to rid the debt next year. I will be back with total when i have worked it out.

I've up'd my hrs in work and working overtime ontop (small amount) so hope to do it.

I have also been moving any loose change in bank account (anything less than either 5.00 / 10.00 depending on budget) over to my very account aswell, been doing this for about 2 weeks and really noticed the difference.

Everyone is doing great

Hi there I've given you number 153, welcome to the thread

Pablosammy

SavingForTravelling2012 wrote: »

Hi

I know it's almost mid Feb but is it still possible to join this challenge? I have to get rid of approx. £4,000 of debt this year. Thanks.

Of course it's ok, you're number 152. Quick question... did you go travelling in the end? :cool:

Pablosammy

That's the update done, everybody! Please check your totals on page 1 to make sure I've done it right.

I've been feeling a bit down about money lately. Well, more precisely I've been feeling hugely frustrated that I've wasted so many years being in debt. People around us are having babies and buying houses, and I just feel like we can't afford any of that and won't be able to for at least another few years. I guess I just thought I'd be further on with my life than where I am now.

We're getting softened up at work for a serious downgrading of the pension scheme, which isn't helping. It's just giving a feeling that nothing is getting better, even though I know it is thanks to you guys! :T

I'm still dedicated to being debt free by the end of the year. It's still going to happen, I'm not going to let myself derail things yet again.

Hopefully the sun will shine a bit brighter and the birds will sing louder when we're out of the debt tunnel. There's no point looking back, and I'm proud to be dealing with it, as all of you should be.

Keep plugging away everybody.

nolongerindenial

Ive just sat down after the postmans bean and collected the post, and decided to work out what overpayments I can make this week, id anticipated on tuesday we may with some luck finish paying my mortgage arrears off this week (rather than in July when the installment plan ends with them)

After really carefully doing the sums, Ive got to find another £16.25 via paypal by 4pm tomorrow to make this payment. This is very doable as I could dip into my emergency funds to get this amount of money if need be.

I think I will be making the payment tomorrow of £480, 11 months after I got into arrears the second time with them causing my 2nd LBM. Tears are streaming as I have realised I will make it to mortgage arrears free this week!

I am sure some of my customers come from boards like this because of what I sell, and I wish I could thank every single customer for every single order as no matter how small or how big the order is, I still get a pang of excitement with every order.

I however wish to remain anonymous until I am debt free. I am not ashamed of my debts but wouldnt want my past to hold back my future any more.

rubywhatashmoo

cwtchingpennies wrote: »

Hello,

I have also been moving any loose change in bank account (anything less than either 5.00 / 10.00 depending on budget) over to my very account aswell, been doing this for about 2 weeks and really noticed the difference.

Everyone is doing great

I've been doing this too! Every time I spend any money I've rounded down the available money in my current account and sent the extra to my CC - it's amazing how much of a difference it makes without really thinking about finding extra money from anywhere

GettingOrganised

February update #40 = £893.30

Very happy with progress - I update when I receive my monthly Barclaycard bill, as it is the only creditor who charges interest, so it gives me the true figure. I did make a further payment off it at the beginning of the week which isn't on my statement, so March is going to get a boost. This payment will also take me over 50% of my total debt paid since I started debt-busting almost 2 years ago (although I was only playing at it until last Jan when I discovered this forum!)

One_step_forward

N0: 51

Another £175 paid off to today taking total to £1293.08/£3878 = 33.34%.