Pay ALL your debt off by Xmas 2015!

rubywhatashmoo

Pablosammy wrote: »

And last but not least, the moment you've all been waiting for... the total for February! Well, WOW. We've absolutely smashed last year's total by over £20k, thanks to one or two huge one-off payments, and loads and loads of determined people making their regular overpayments.

Seriously, you've all done so well!

March's total was...

£72,724.50

Now go and pat yourselves on the back!

That is AWESOME!! Isn't it February's total though not March's..?

mossy

Money_Muppet wrote: »

THIS is why people should be bothered to switch or move accounts. An almost £50 per month increase in income.

I have a similar system in place. I get paid into Halifax, leave everything for bills in there. I then transfer everything else to TSB for the 5% credit interest. I do this for my personal accounts, and for the joint accounts we have. 2x Halifax rewards pay more than Santander as an ongoing arrangement - and we also managed to get two £100 switching payments. We also have a First Direct First Joint account that we use to fund a 6% regular saver. We don't pay any fees to First Direct because I keep £1 in an eSaver account. I opened a spare Halifax basic account to use to switch to Yorkshire Bank (as well as using an old First Direct account to open the 2nd), and following payment of the £150 switch and £150 compensation into that Yorkshire Bank account I have today opened and switched to Nationwide via Topcashback for £84 and 5% on £2500 for a year. When I get the 2nd Incentive payment from Yorkshire Bank I will probably apply to open a Co-Op account for a further £100.

Switching banks is absolutely worth the effort. :money:

:eek: Oh my life that is terrifying!! :shocked: I feel dizzy and confused just reading it never mind doing it lol!! :eek:

I tried to apply for a Sant 123 current acc for our bills (DH has a credit card with them for his work travel expenses) so I don't mind the thought of having an acc with them as it will ink with he card. Unfortunately we don't have a debit card on the current account I was going to switch from and so I'd miss out on £35 quidco cashback. Will have to go to the bank tomorrow to see if I can order a debit card so that I can switch it.

I did apply for a m&s account in my name though. Fingers crossed that comes through as it's £125 gift card which will pay for some holiday clothes!! It also has a 6% savings account, I haven't applied for that yet because you can't touch the money for a year. I have something I would like to save for but not until September.

I do see the value in switching accounts though, especially if you can earn better interest than in an ISA.

Sorry I missed your achievement earlier, well done Silian.

Pablosammy

rubywhatashmoo wrote: »

That is AWESOME!! Isn't it February's total though not March's..?

Whoops! :rotfl:

amr547

My savings account is APPALLING interest rate so I would be very interested to know what others are out there! It's a 40 days access account as well which is quite handy cos I'm a spendaholic!

IrishRose12

Just managed to pay an extra £50 off my CC bill. So I'm now at
#66 £425/£1700

Pablosammy

amr547 wrote: »

My savings account is APPALLING interest rate so I would be very interested to know what others are out there! It's a 40 days access account as well which is quite handy cos I'm a spendaholic!

Some of the best interest rates come from current accounts at the moment, depending on how much you have in savings. TSB pays 5% up to £2k, Club Lloyds pays 4% up to £5k, and Santander pay 3% up to £20k. There are some rules with each one regarding setting up DDs and monthly deposits etc.

Of course, it'll take a bit more discipline to keep it in there. Cut up the card!

abba1772

Evening :hello:

Sent another £100 to the credit card brings my total to £2201.58 / £4000 :j

lynneee

well I have cleared a debt!! Paid off the last installment of my uni course fees so another £236 So £1452/13,342. getting better! Next month I will put the same amount towards a different debt

Pidge_jen

Morning!
No 037 here - loan payment has gone out, taking it to under 4k - I don't think ive ever had a loan with a balance that low, I've always re-consolidated and increased the debt - finally learnt my lesson, consolidation doesn't work! :rotfl:
Running total updated in signature :j

amr547

Pablosammy wrote: »

Some of the best interest rates come from current accounts at the moment, depending on how much you have in savings. TSB pays 5% up to £2k, Club Lloyds pays 4% up to £5k, and Santander pay 3% up to £20k. There are some rules with each one regarding setting up DDs and monthly deposits etc.

Of course, it'll take a bit more discipline to keep it in there. Cut up the card!

Might be too much faff for me :rotfl: my main accounts are with yorkshire... I have a current account, regular savings and a home saver account. The home saver is 40days notice but the interest isn't very good, on the plus side if I get a mortgsge with them I'm guaranteed some cashback :rotfl:

Hopefully should get my statement for the car soon,,,,