Fox's Debt Free Diary

FoxFace

Balance Transfer on old c/c cleared :j

Just a few days before payment date too! So that means my payment will stretch further than planned (I was worried the transfer might take longer and I'd lose another £75 to interest :mad:)

Also just paid £35 off my 2nd credit card, as payment due before 1st (usually DD) but I want to make sure I know the correct figure for when my new 0% card arrives, so the transfer can go smoothly.

Oh! And I also paid the remainder of my Paypal credit balance... so that has totally gone!

Sig updated

FoxFace

Also just had the forethought to set up the direct debit on the new 0% account (for £250 a month). Hoping to pay way more than that but wanted to make it a reasonable amount

FoxFace

Card arrived for 0% card, second balance transfer for other old CC requested... just gotta get these badboys cleared within the next 36 months before the offer is up

Feeling really pleased with my progress so far! :j

jackieblack

Make sure you remember to cancel/close the old credit card accounts to make sure you're not tempted in future.
£250 a month is £3000 a year so getting the balance on that 0% card cleared within 3 years should be fine


Well done on your great start, keeping that motivation going (this is a middle distance race not a sprint) might be tricky at times but if you are determined you'll get to the finish line with a massive sense of achievement

FoxFace

jackieblack wrote: »

Make sure you remember to cancel/close the old credit card accounts to make sure you're not tempted in future.
£250 a month is £3000 a year so getting the balance on that 0% card cleared within 3 years should be fine


Well done on your great start, keeping that motivation going (this is a middle distance race not a sprint) might be tricky at times but if you are determined you'll get to the finish line with a massive sense of achievement

Absolutely! I don't have access to them anyway as I cut up and got rid of the cards when I started, but I will be closing them asap just to make sure Also need to get rid of this new card before I'm tempted to spend on it.

And the overtime I am doing is set to bring in an additional £400 a month which will entirely go towards the debt, on top of the monthly direct debit

Daft thing is we have disposable income to actually pay this off quickly, I earn well. I am just very good at being "wanty" and in spite of the disposable income have been managing to spend way beyond my means, when we really have no need to.

So glad I made the decision to get on top of it though Thanks as always for your support.

another_casualty

I love the name fox face :rotfl:
Great job so far, wishing you good luck

FoxFace

another_casualty wrote: »

I love the name fox face :rotfl:
Great job so far, wishing you good luck

Thank you Really enjoying myself to be honest. I work well when I have something to work towards. My main problem is dealing with myself when the debt is cleared, because then I'll get lazy if I'm not careful

enthusiasticsaver

Once the debt is cleared focus on a savings target instead to keep motivated

FoxFace

enthusiasticsaver wrote: »

Once the debt is cleared focus on a savings target instead to keep motivated

That is a fantastic idea, thank you

FoxFace

That's both of the old CC's now gone and the balances interest free for the next 3 years

Updated sig, it shows a small increase for the CC as there was a £29 one off fee for both transfers, but as that is equivalent to less than half of one month's interest on one of the old cards, I don't mind that at all!

Going to look to make a £30 payment to cover that when I get paid to get the balance back down anyway Last couple of days of the month and the belts are pretty tight.