Pay ALL your debt off by Xmas 2015!

engineer_amy

Number 180 here. I have been massively busy with new projects at work this month and haven't had time or energy to socialise or spend money so I am pleased to be able to make an end of month payment of £1105.01 off the MBNA card!


this is addition to my normal min payments for September (£30.44) and October (£25) which I didn't update on here yet.

engineer_amy

Pablosammy wrote: »

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!

My current attitude on this is its only acceptable if you have something to show for it and you can get it paid off in the fastest time possible, incurring only minimal interest.
My credit card debt? I couldn't actually tell you now what it was spent on, i've spent years shifting it round from one card to another on 0% deals, whatever was bought is long gone. I may have intended using them for cashflow, planning on paying off as soon as I got paid, but then something more tempting came along to spend my wage on and the credit card debt just built up.
Its only this year that I have given myself a boot up the a**e and made a conscious effort to get one card cleared before the 0% ends and avoid another BT fee.
Your plan to buy everything with cash? That would be lovely, but I would be buying on the credit card to get the section75 protection and paying off straight away if I had the funds instead.

Sammy246

Yay...haven't checked in for a while but just paid off 2 accounts today so now they are both at £0...!!!

Need to update my signature

Pablosammy

Sammy246 wrote: »

Yay...haven't checked in for a while but just paid off 2 accounts today so now they are both at £0...!!!

Need to update my signature

Well done!

blubella

Mini update #101 £3025.47/[STRIKE]£2000[/STRIKE] £3000

I am on target to get below 23k before the end of the year... yay :j

Pablosammy

Woop woop! Just paid £860 to settle my First Direct loan account, so as of today I am DEBT FREE... according to my credit file!!!

:j:j:j:j:j

Okay, excitement over, I'm not quite there yet. I still have just over £3k to go on my Student Loan, and I reckon I might just be able to get there before Christmas. It's still on!

I can't update my figures as my all-knowing spreadsheet is at work (I don't know how much of that loan settlement was interest), but will update in a week or so.

abba1772

Pablosammy wrote: »

Woop woop! Just paid £860 to settle my First Direct loan account, so as of today I am DEBT FREE... according to my credit file!!!

:j:j:j:j:j

Okay, excitement over, I'm not quite there yet. I still have just over £3k to go on my Student Loan, and I reckon I might just be able to get there before Christmas. It's still on!

I can't update my figures as my all-knowing spreadsheet is at work (I don't know how much of that loan settlement was interest), but will update in a week or so.

Congrats xx

Dizzy_Imp

Well done Pablo! Fabulous news x

black_cat

My update: £4224/£4423 (#83)

Only £199 to go - 96% paid off! This total is only for 2015. The full amount was much larger. Itching to pay the rest off immediately but I should be sensible and do it next pay day as it's getting nearer to Christmas and I have a few extra expenses...

blubella

All minimum payments settled, so another 129.56 thrown at DEBT cards. Bringing total to:

#101 £3155.03/[STRIKE]£2000[/STRIKE] £3000