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Debt total once a day
Comments
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Hopefully yes
I also have a question about my car finance but I might put that in the loan forum.
I don't really know what to do at the end of the term. Give the car back and pay £2k in fees for mileage or buy the car outright for £6k but it will have nearly 80,000 miles on the clock and probably wouldn't be worth that amount of money hmmm0 -
Today -we're on the home run 46% paid off from original total
Argos card - £0
Very account 1: £0
Very account 2: £396.78
Natwest CC: £0
Mbna card: £2400
NatWest loan: £1186.47
Bed loan: £0
Bike loan: £0
OH car loan: £540
Total: £4523.25
Doodle0 -
Today -
Argos card - £0
Very account 1: £0
Very account 2: £396.78 -£200
Natwest CC: £0
Mbna card: £2400
NatWest loan: £1186.47
Bed loan: £0
Bike loan: £0
OH car loan: £510
Total: £4293.25
Doodle0 -
Today - 50% of the way there
Argos card - £0
Very account 1: £0
Very account 2: £146.76
Natwest CC: £0
Mbna card: £2260.68
NatWest loan: £1204.74
Bed loan: £0
Bike loan: £0
OH car loan: £450
Total: £4062.20
Doodle0 -
Well done on paying off 50%. You will definitely be debt free this year if you keep this up.
Not sure what to advise re car finance as I have never got involved in these PCP deals which I assume this is? If you have got to pay £2k whether you keep the car or not - what a ripoff, then the maths dictates if the car is worth less than £4k then no point in buying it unless you are convinced it is in good condition and may last a further 50k miles. 80k is not that much for a modern car.
Personally with cars we either save outright for them or in the past I have got cheap finance via bank or 0% money transfer card. I am not a fan of these car finance deals.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
The 365 Day 1p Challenge 2025 #1 £667.95/£451.50
Save £12k in 2025 #1 £12000/£124500 -
Today -
Argos card - £0
Very account 1: £0
Very account 2: £146.76 -£146.76
Natwest CC: £0
Mbna card: £2277.52
NatWest loan: £1204.74
Bed loan: £0
Bike loan: £0
OH car loan: £450
Total: £3932.26
Doodle0 -
Today - 72% gone
Argos card - £0
Very account 1: £0
Very account 2: £0
Natwest CC: £0
Mbna card: £2300 -£1346
NatWest loan: £1204.74. -£248.75
Bed loan: £0
Bike loan: £0
OH car loan: £450-£420
Total: £2332.43
Doodle0 -
Wow fabulous progress! I have been following your diary for a little while now, well done on your 72%!! You must be feeling great about it, just 28% to go and you will be clear.LBM 15/03/17=£7586.01 DFD April 2019.Debt Today: £6499.34 (DFD Apr 19)
Target £0 Debt by Dec 2018 Highest debt: £12,242.84 (May16)0 -
Wow - you really have hammered this debt down quickly! Well done!
How have you managed it? Overpayment where you can? Do feel free to share your tips
Not much left to go! It must feel good being on the home straight!CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))
July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
*My debt busting and savings diary*0 -
Jojo hammering at it where I can. I snowballed a lot of it. So focused on which one I hated the most first minimum payments on the others and then slowly reduced all of them.
It's also helped that we have moved back in with my parents at the start of June so I've thrown everything that I did spend on bills and rent at my debt.
It's been a slog but will be so happy when paid off and I can ring NatWest and close my credit card. I dread to think the amount of money they have made off me over the past 10 years.
Hopefully our new house will go through in September so it's the start of a mortgage free journey. A different kind of journey I think.0
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