The 'Extra Payment Every Week' Thread 2015

Picklepot

£110 for me today.
Seeing the end in sight for this 'verging' credit card, cant wait to get rid am going to see where I can budget harder to clear it quicker.

Dizzy_Imp

Happy half term everyone. I'm exhausted already :rotfl: We are all still doing really well considering the stage in the year and with *whispers* Christmas creeping up on us. Picklepot - let us know when the card is cleared

Extra payments totalling £1054.78 for me this week please Lucky.

Keep posting xxx

MeandO

Hello folks

I haven't been around for a while, but have been keeping up the overpayments. Happy to say I've managed to throw an extra £1192.32 at the loan since my last post on 2/10. Hoping to make another overpayment in the next couple of days too.
The loan is now down to under £3500, then I need to start on the credit cards.

X

MeandO

Another £276.13 paid off the loan this morning, now down to £3150 as regular payment came out yesterday too. Looking forward to getting it under the £3K mark soon.

MeandO

Another £151 overpayment today, just to get it under £3k.
Loan now at £2999 :rotfl:

please-let-me-be-lucky

Great work MeandO! Satisfying to see the numbers coming down and even more so when you get down into a 'new' number. Xx

Kermie

You might be the best people to answer this question... is there a benefit to paying a little extra throughout the month on a credit card over saving it up and over-paying the minimum once a month. Is interest calculated daily and therefore paying £50 off 10 days before statement day makes a difference to the amount of interest charged for those ten days?

You're all very inspiring - if it saves interest charges I might have to join you!

please-let-me-be-lucky

Kermie wrote: »

You might be the best people to answer this question... is there a benefit to paying a little extra throughout the month on a credit card over saving it up and over-paying the minimum once a month. Is interest calculated daily and therefore paying £50 off 10 days before statement day makes a difference to the amount of interest charged for those ten days?

You're all very inspiring - if it saves interest charges I might have to join you!

This might help;

http://www.theukcardsassociation.org.uk/individual/interest_worked_out.asp

You are welcome to join us any time Xx

Kermie

Thanks for that Lucky! It looks as though the interest on my main cc is charged on a daily basis, so every little I can pay off through the month will help.

OK sign me up... I'm joining in!:eek:

blubella

Morning folks

Pay day has come around again...this is likely to be an extremely frugal one as my expenses haven't been paid :mad:

£136.71 paid to DEBT card to kick start the next month :j ...ok...i'm a day early but I cannot wait!