Pay off £10k in a year challenge
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Hi to anyone reading.
I am challenging myself to pay off or drop £10k of debt in one year. If I snowball my debts I can reach £8,629.85 so need £1370.15 in extra payments. I am going to have to push myself to reach the 10k mark.
Anyone is welcome to join in with any figure they like. You can count debts you have paid off and also any you have managed to drop (i.e. HP items returned, debts that you have managed to argue away etc).
The challenge runs from 1st August 2015 to 31st August 2016.
I know it's a weird time of year to start a challenge but I couldn't find any that don't end at the end of the year. Hopefully I will get some company along the way.
I am challenging myself to pay off or drop £10k of debt in one year. If I snowball my debts I can reach £8,629.85 so need £1370.15 in extra payments. I am going to have to push myself to reach the 10k mark.
Anyone is welcome to join in with any figure they like. You can count debts you have paid off and also any you have managed to drop (i.e. HP items returned, debts that you have managed to argue away etc).
The challenge runs from 1st August 2015 to 31st August 2016.
I know it's a weird time of year to start a challenge but I couldn't find any that don't end at the end of the year. Hopefully I will get some company along the way.
Fresh start & LBM #3: 29.08.17 ~ Debt at highest: £23,583.27 ~ 26/12/18: £13,389.66 ~ 05.12.2019: £9653.06 ~ DFD aim: [STRIKE]31/12/2021[/STRIKE] 31/12/2020 ~ PAYDOB 2019 #32 : £3832.60/£4000 = 95.8% ~ 2019 1% Challenge #2: 95.8% (£4000 target) ~ Frugal Living Challenge 2020
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Replies
cybertortoise - £10,000 - Paid £9726.98 - 97.26%
crunch_time - £9,000 - Paid £1645 - 18.27%
MrsSave - £4,000 - Paid £1306.77 - 32.66%
Swampy3k - £10,000 - Paid £2731 - 27.31%
Lacherlich - £17,488 - Paid £3083 - 17.62%
The Only Girl - £10,000 - Saved £1227.13 - 12.27%
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Crunchy
Overdraft £1600 vs £1050
HSBC1 £1900 vs £3868
HSBC2 £4100 vs £3730
Virgin 1 £3050 vs £2800
House stuff and improvements £4460 Virgin 2 £2740
Overdraft £1600 vs £1050
HSBC1 £1900 vs £3868
HSBC2 £4100 vs £3730
Virgin 1 £3050 vs £2800
House stuff and improvements £4460 Virgin 2 £2740
If we add our totals on the last day of each month I'll pop them into a spreadsheet to calculate the % we have paid.
Quick note to say that if you have a debt of £500 for example and manage to reduce the amount owed (i.e. get a full & final settlement figure of £350 or get rid of an HP item etc), you can still count the full £500 as you have dropped your debt by £500.
Looking forward to seeing how you are both doing so far!
Sorry I'm bit late with August figures - £400 last month.
Hoping for more in September!!
Crunchy x
Overdraft £1600 vs £1050
HSBC1 £1900 vs £3868
HSBC2 £4100 vs £3730
Virgin 1 £3050 vs £2800
House stuff and improvements £4460 Virgin 2 £2740