To make £1000 in the shortest time possible

pineconesjay

Hi Black Taxi!
I've been following your progress over the last couple of weeks.

Are you paying interest on your vehicle loan? If so, would you consider halting your savings for the time being (You have 250 pounds as a nice little cushion in case anything comes up) and really tackle the debt?

Black_taxi

pineconesjay wrote: »

Hi Black Taxi!
I've been following your progress over the last couple of weeks.

Are you paying interest on your vehicle loan? If so, would you consider halting your savings for the time being (You have 250 pounds as a nice little cushion in case anything comes up) and really tackle the debt?

Hi there,

I don't have any interest to pay on the cab as I have agreed on a rent to buy basis, £200 per week until I have paid £18k, I am supposed to be finished in December but have been trying to make extra payments,

Do you think I should use the £250 savings towards the balance and just get it over and done with then start on the savings again? I am sure I would be able to make it and still be on track to reach my target by the end of the year

Black_taxi

Update::

Did a bit go jiggery pokery and now have a zero balance in savings (apart from some change) BUT only have £260 to pay on the cab, means I will be finished paying off target 1 by next Saturday!!! I used the £250 savings as there is no way I am going to need them in a week and I know that I can make up the saving days I have missed over the next 193 days, so.....

.....by this time next week I am hoping to be cab payment free, have an asset of £15k plus parked outside the door and really start on my savings, looking forward to editing my sig (this seems long winded, is there a quick way of doing it?) to reflect all my pots which I promise myself (and anyone following) I will update daily.

pineconesjay

Nice one!
Although I hope you don't have any emergency pop up in the next week, but you've made a great step towards being free of your debt.
Then you can focus 100% on building your savings

Black_taxi

Today's update...

Have put £60 to the cab so just £200 to go! I will be finished this week and then I need to make a final payment of £250 for my share in the company I work for... I will do this over a week or so so I can really make a definite start on my savings

Off to buy a few more tins tomorrow for various coins I will be collecting to help me along

Skinnylatte

The_Only_Girl wrote: »

I am interested in the weekend job you mentioned. Can you tell me more about it? Thanks in advance. As you can see in my sig, I am nearly debt free and I would do anything to speed up the process and start building up my emergency funds and/or work towards being mortgage free. Looking forward to hearing from you.

WOW :eek: awesome job paying off your debts, well done you :T

Skinnylatte

Black taxi, awesome going, I only just found your post, but really impressed well done.
Fleabay if you get the time has been a pretty good earner for me, even random stuff like empty perfume bottles :cool:

The_Only_Girl

Skinnylatte wrote: »

WOW :eek: awesome job paying off your debts, well done you :T

Thank you skinny latte.

This is something I posted in another trend here on MSE.

THE POWER OF SAYING NO!

This afternoon, OH and I went to Costco to do some last minute top up shop - rice was running low and in my household, it could spell disaster. Like what we've been doing during the last few months, we took some money from our Household/Grocery envelope and set £40 for today's shopping. We got everything we needed according to our shopping list (another practice we have faithfully followed recently) and because it is Father's Day we picked up a box of Krispy Kreme donuts as long as it doesn't tip us over the budget. When we reached the cashier, we boldly (unashamedly) told him that our budget is only £40 and could he please let us know when we are about to exceed it. Before he scanned the Krispy Kreme I realised we were going to be £3 over our set limit (I had £15 emergency cash hidden in the secret compartment of my wallet which I could dip into). But OH and I looked at each other and we both said, no we are leaving the donuts because it's over budget. The cashier was so surprised he said to his colleague "It's over budget."

A few months/a few years ago, a). We wouldn't have had a thing called budget. b). We wouldn't have gone grocery shopping with cash but would have used debit/credit card c). We wouldn't have bothered to look at the total amount of our shopping but would have just handed over the plastic card as if on autopilot. d). We wouldn't have been bold to tell the cashier of our limit e) we wouldn't have walked out without the donut aka " the special treat which we deserved, after all, it's Father's Day" for a mere £3 over budget.

The thing is: walking out of Costco without the donuts made us feel triumphant. We feel like we have conquered Mt. Everest because we have SAID NO! NO is indeed a very powerful word. It is only made up of two letters but it can change your future. As Dave Ramsey puts it:

"IF YOU WILL LIVE LIKE NO ONE ELSE, LATER YOU CAN LIVE LIKE NO ONE ELSE."

rockm87

The_Only_Girl wrote: »

Thank you skinny latte.

This is something I posted in another trend here on MSE.

THE POWER OF SAYING NO!

This afternoon, OH and I went to Costco to do some last minute top up shop - rice was running low and in my household, it could spell disaster. Like what we've been doing during the last few months, we took some money from our Household/Grocery envelope and set £40 for today's shopping. We got everything we needed according to our shopping list (another practice we have faithfully followed recently) and because it is Father's Day we picked up a box of Krispy Kreme donuts as long as it doesn't tip us over the budget. When we reached the cashier, we boldly (unashamedly) told him that our budget is only £40 and could he please let us know when we are about to exceed it. Before he scanned the Krispy Kreme I realised we were going to be £3 over our set limit (I had £15 emergency cash hidden in the secret compartment of my wallet which I could dip into). But OH and I looked at each other and we both said, no we are leaving the donuts because it's over budget. The cashier was so surprised he said to his colleague "It's over budget."

A few months/a few years ago, a). We wouldn't have had a thing called budget. b). We wouldn't have gone grocery shopping with cash but would have used debit/credit card c). We wouldn't have bothered to look at the total amount of our shopping but would have just handed over the plastic card as if on autopilot. d). We wouldn't have been bold to tell the cashier of our limit e) we wouldn't have walked out without the donut aka " the special treat which we deserved, after all, it's Father's Day" for a mere £3 over budget.

The thing is: walking out of Costco without the donuts made us feel triumphant. We feel like we have conquered Mt. Everest because we have SAID NO! NO is indeed a very powerful word. It is only made up of two letters but it can change your future. As Dave Ramsey puts it:

"IF YOU WILL LIVE LIKE NO ONE ELSE, LATER YOU CAN LIVE LIKE NO ONE ELSE."

wooo! awesome (as Dave says) go you!!

Black_taxi

Thank you to you all for reading and sticking with me....the encouragement is amazing...

Day off yesterday, not so much no work but the cash I earned got spent on everyday things, office rent and generally a slow day...

I studied the calendar and once again played with figures today, I have added £80 to the fund today so now only owe £120!!!! I have waited to pay this cab off for the last 18 months, ever since I agreed the deal and worked my ar'e off to get ahead, I am so so close now that I am worried it's going to be an anti climax for me because I am so fixated on the next target?

3 days and I could be finished....at least by the time I log off Friday, kick started the savings again, only little steps in big pots but they are all going to add up. Have 7 days to formulate some kind of plan, bringing me to 1st July, then have 6 months to save up for leaving and starting a new life, sorry if I have rambled, just had to get some thoughts out.