Pay ALL your debt off by Xmas 2015!

muppets

All my payments for this month have gone out.

Muppets - #34 Pd £14,664.68 / £15,000 - 97.76%

Pablosammy

muppets wrote: »

All my payments for this month have gone out.

Muppets - #34 Pd £14,664.68 / £15,000 - 97.76%

So close! :j

amr547

Well done everyone!!

I am getting there on both fronts, definitely feels like I've made a ton of progress since we started debt busting a couple of years ago. In that time we've paid off nearly all out debt and almost saved for our house deposit this thread has definitely instilled great habits in me that we will take forward with us:j

Dizzy_Imp

Wow, 24 debt-free people - that's fantastic! Congratulations to each of you. Very jealous indeed

An update for me please Pablosammy...made some overpayments this week...

#85 £33,850.05/£45,868.02 = 73%

cutiepieabf

Good morning all! Apologies for radio silence!
I have been beavering away to cut this debt down.

I have managed to get a 0% bal transfer mastercard from tesco. 0% for 33 months, with a £2000 limit. There is a fee for bal transfers, but ive accounted for this. I will be transferring £1900, paying it off, and transferring another £1900, paying it off, etc, until the end of the 33 months. I am paying a fixed £200 a month, and paying additional income as additional payments on my cap one. Cap One balance is now £5690. Tesco CC is £1400.

I have also been paying £55 on SO to my old OD each month and this is now reduced to £350!

SO new balance is:

#132 - 1360 / 8800 15%

Pablosammy

cutiepieabf wrote: »

Good morning all! Apologies for radio silence!
I have been beavering away to cut this debt down.

I have managed to get a 0% bal transfer mastercard from tesco. 0% for 33 months, with a £2000 limit. There is a fee for bal transfers, but ive accounted for this. I will be transferring £1900, paying it off, and transferring another £1900, paying it off, etc, until the end of the 33 months. I am paying a fixed £200 a month, and paying additional income as additional payments on my cap one. Cap One balance is now £5690. Tesco CC is £1400.

I have also been paying £55 on SO to my old OD each month and this is now reduced to £350!

SO new balance is:

#132 - 1360 / 8800 15%

Would you not be better off just transferring £1,900 once and leaving it there, and then paying off the higher interest one as you go? It will work out cheaper doing it that way, unless I've missed something.

You'll always have £1,900 sat there paying no interest, and you won't be paying new fees every time you transfer.

abba1772

Finally got my barclaycard statement through sent £134.99 to round my bank account down

Brings my total to £6345.71 / £6000

Pablosammy

Payday feels so far away!

After we've all reached our targets, what do people feel is 'acceptable debt'?

Clearly it's unrealistic for most people to buy a house without going into debt, but what about cars? Or big credit card purchases that you intend on paying off within two or three months? How about sofas on interest free credit and the ilk?

I'd like to get to the point where a mortgage is the only debt I have, and am buying cars and other big purchases outright when I can afford them with cash. It might take a few years to get to that point, but that's my 'end game'. I don't know how realistic it is, but I'm going to try!

black_cat

Pablosammy wrote: »

Payday feels so far away!

I'd like to get to the point where a mortgage is the only debt I have, and am buying cars and other big purchases outright when I can afford them with cash. It might take a few years to get to that point, but that's my 'end game'. I don't know how realistic it is, but I'm going to try!

This is where I want to be too - mortgage will be the only debt. We won't need to buy another car for quite a few years so we've hopefully got time to save up. Our biggest need is some work on the house so my target in the new year will be saving for that.

Payday - midnight, but even that seems like too long to wait!

jwil

Quick update from me: DFBXmas2015 #048 £2995.00/£9348.00