Working Hard Debt Diary - Here goes

beanielou

Great news WH on the Tesco card.
Hope you get the credit limit that you need.

WorkingHardDFW

Thanks all 0% for 14 months and as to the CC well on the webiste last night if figures £4.5k but I will believe it when I see it.

Back of envelope cals (not really!) means that this plus £250 extra debt busting per month (rounded down to be conservative rather than up) will bring the debt to zero - I think.......emh I need to double check the figs..

beanielou

Debt to zero when?

WorkingHardDFW

OK I've finally gotten around to checking my beloved spreadsheet to see the impact of getting the 0% card and if I put in an extra £250 a month we'll be DF by NOvember 2009 (11 months away ).

My original spreadsheet didn't take account of reducing interest rates as the debts reduce but I've finally after several versions got one that does. I do use the snowball calculator but that doesn't let you see the impact of lump sums in the future. Anyway my spreadsheet works for me.

The good news is that one card will clear in March, one in April and one in June. That certainly will be an incentive to continue debt busting and from July onwards unbelieveably we'll only have two cc debts and one of these will be on 0%.

So my incentive to get the extra money has never been greater.

With that I've listed a few things on ebay already but I've got a pile of stuff in the garage to list on Tuesday when I am off probably. January's £250 is in the bag with my quidco earnings and ebay money thats came in last month. However this month and next I need to cover extra costs for my DD's school trips £50 per month. I've got Jan's put aside but I will need to earn the £50 for Feb.

Feb and Mar are the months we don't pay council tax so therotically I could use the money from that however I will aim to earn the extra and if I am short I can use that...cheating a little i know.

I got one of the CC statements today and they have increased the limit. Why do they do that...I thought there was a credit crunch. The card has £4k on it and we reduce it by £75 per month so they think OK lets offer them more. Thank goodness we've had our LBM is all I can say.

beanielou

Great news for you then:T

MissOptimistic

Thats great news on the 0% - It all helps doesn't it? Do you design your own spreadsheets? - I am ok with the simpler formulas but I could do with getting my head around the more complex ones, I have an excel book I think I need to take a look at!
Debt free before next christmas? - I am so not jealous!

Compingirl

Wow, thats brilliant news! Bet you can't believe it can actually happen this year!
compingirl x

WorkingHardDFW

Thanks all I still can't quite believe it myself. No doubt we'll some ups and downs on the way as we all do.

My spreadsheet is in excell and its adapted over time. To be honest I change it slightly every month. I've found its works for us and allows us to shows any lump sum payments or income increases along the way. It doesn't do the compound interest stuff or anything clever like that but looks at the average interest paid per month. It works and it gives us an idea of when we'll be debt free which is what keeps us all going.

I really need to work very very hard at getting the extra £250 plus per month now. Its not going to come easy therefore I need to make sure it happens.

WorkingHardDFW

Starting as I mean to go on I've listed a couple of highish value (for me anyway) things on ebay which is good. If these sell thats £50:D . Which will be a good start for next month. I'm planning to try and list a couple of things a day for a while to get me back into the swing of listing. I've a whole load of stuff in the garage to sell plus a lot in my wardrobe unfortunately...

As I've said I've covered Jan's £250 so I'm now working on Feb's.

My theory is that if I list little and often then I'll won't put it off like we all do.

That said to get it boosted I'm going to list a bit of stuff on Tuesday when I am off too.

OK off too attack the ironing pile now:eek:

beanielou

My ironing pile is waiting here for you!
Happy ebaying!