Pay ALL your debt off by Xmas 2015!

Kittycat1981

rubywhatashmoo wrote: »

There's a few formulas in there so that I don't have to manually add up the totals of things, but otherwise it's really straight forward (ooh and I colour code the boxes so I can see what has been paid and what still needs to be paid for that month - green is paid and yellow is pending from my bank account!)

I enjoy my spreadsheet a little too much I think...:o

Ha ha i love colour coding too.. I have green for paid with a little ℗ at the end of the column when i have paid everything in the entire month. I love seeing a full line of green and a ℗

ali_bf

Another small payment of £12 to very made today. Smallest debt almost gone ��

Fmess

luckystarr wrote: »

Fmess - with regards to your spreadsheets are they Excel sheets or the YNAB version ??

Thanks in advance x

Mine are Excel. I looked into YNAB this year but my spreadsheets already do everything I need them to and my spends one works on a similar principle of budgeting for everything and then recording the spends against each category.

pinkgiraffe2014

#115 updating my totals ... 303.94/4229

The extra £100 I had towards my nxt account ended up being lent to OH to get his van through MOT. But with how hard January normally is, I have scrimped and scraped through determined not to end up in my overdraft.... And as a result I have a lot more money left over than I have in months! All being well I will be able to clear my nxt account at the end of the month. Praying for no major emergencies before then!

BodieGirl

#72 £266.51 / £2733

Good morning everyone. I made some extra payments this week to my Luma Card but was waiting for the monthly invoice and interest to be applied etc.

amr547

Oh I need to find out my paper work today for the car and the sofas...

I am really tempted to refinance the car.nthe final payment is about 2k I think, well I need to check the paper work first. It'd be nice to get rid of it but at the same time that is such a big chunk of money!:o perhaps I'm thinking about it the wrong way lol

Nix143

Ok off the blocks - downloaded YNAB and spent all evening watching videos and setting up my account. I live in my 2k overdraft and have done for as long as I can remember. So rather than have my account 2k overdrawn I've set it to 0 and have a savings pot for the overdraft - it's the last one though as the interest on my Capital One card and my Next account are far higher than the charges I'm paying. I know it's not how YNAB operates but I also know how I work mentally, I need to think I am doing good things, not perpetually 'bad' - does that make sense?

I'm also in a dilemma. I have almost 2k of savings. I KNOW I should wipe out a big chunk of my debt with that, logically I know it. But as someone who has NEVER saved building that up last year gave me such a psychological boost that I can't bring myself to pay it off. It's a slow process of changing your mindset eh? Maybe one day soon I will come on here and make a whacking big change to my debt amount. Also I think I need to run for a month and see what my actual outgoings are. I've never budgeted for food etc and I'm really worried that if I set it too low so I can do a big overpayment then I'll have to rob from the savings pot. Little steps, I'll get there, I'm determined this time.

So my first report - slight overpayments this month on both Next and credit card. I'm waiting to get paid on Friday and will bump both of those up massively. But for now

£150/£3512 = 4.2%

It's a start

Pepperoni

Nix143 - I did the same. All that I did was end up paying £200 in interest which could have added to my savings pot. Its better to be debt free and then build up your savings once you are, otherwise you're just paying someone else more money (interest) when you could be paying yourself it...

Nix143

I know you're right Pepperoni - I've had a big think this morning after I typed that and on payday when I do my big budget in YNAB I'm going to pay my Next card off completely. I've got about a grand's worth of one off expenses coming up in the next month or two so my savings will take care of that. And after that I'll take stock and see what's left. If you're going to bite the bullet you don't wanna be half assed about it

sarahc4536

Had to pay the phone bill yesterday, forgetting that the cost for upgrading my phone was on there too paid it off without using the credit card, but it just means I can't make a big payment I had hoped before payday! There's always next month I guess!