Pay ALL your debt off by Xmas 2020

Willowtree222

jammydodgersandrhl wrote: »

Hi All,

I'm really impressed with the large amounts people are paying off.
Can I have some advice please on how I can clear more of my money quicker - so many people are doing very large amounts - How are you all doing this? I totally appreciate everyone has different budgets. I am a single mum so money is tight anyway.

What I'm doing so far is...
decluttering - selling stuff on eby and local selling groups.
I have gone through my bills and reduced any that i can - i do this anyway!
I have allocated myself a set pocket money that i am allowed to spend to restrict my outgoings, but still have a 'life' currently that is 100 but I'm thinking that could be reduced.
I am doing a savings challenge - 365 day challenge. using either spare change or pocket money to do this - every time i get to 50 i am using to pay off the debt!
I have netflix - wondering whether to cancel this - me and my DS use this for film mainly.

What other things could I do? - most of the ideas i have used have come from all of your fab posts so far!

Hi Jammy,

My debt payments was my natural payments minus the interest.
I have changed my loan payment so that it has doubled to pay it off in half the time. Every time I get a payrise, then I just pay off the extra straight onto my debt.

I am also selling on ebay, and other sites to make as much money as I can to enable me to pay off little bits.

I round down my bank account (another idea I got from here as well) which soon mounts up. A couple of pound per week and within a few months it is starting to mount up.

If you are paying it off, then you are making progress. Keep going. x

Glitterbaby

Wanted to update my total now that my new CC bill has arrived.

Paid £187.52/£5713.51 - 3.28%

jammydodgersandrhl

Thank you Glitterbaby - I work a lot of overtime - but unfortunately it is unpaid #teacherlife but i am using TCB. I have nothing to buy at the moment - although at some point i do need to get life insurance - but then that's another payment to factor into my budget - should i do it anyway?
Every £ definitely counts! Thank you!

Thanks Nicnak. I should get a small increase in April - never counts for much though. Thanks for the motivation - i like the idea of rounding down the account. could be tricky though as i count every penny on my main bills account - could do it on my pocket money account though.

Willowtree222

jammydodgersandrhl wrote: »

Thank you Glitterbaby - I work a lot of overtime - but unfortunately it is unpaid #teacherlife but i am using TCB. I have nothing to buy at the moment - although at some point i do need to get life insurance - but then that's another payment to factor into my budget - should i do it anyway?
Every £ definitely counts! Thank you!

Thanks Nicnak. I should get a small increase in April - never counts for much though. Thanks for the motivation - i like the idea of rounding down the account. could be tricky though as i count every penny on my main bills account - could do it on my pocket money account though.

Could you tutor? An hour a week maybe. You can tutor from home if you want to as well. x

Forgot to add that I am a single parent too. I tutor the odd night at home after little one is in bed. It is hard getting motivated, but worth it. x

jammydodgersandrhl

Nicnak wrote: »

Could you tutor? An hour a week maybe. You can tutor from home if you want to as well. x

I will need to look into this - I've never done it before! Great idea!

Glitterbaby

Nicnak wrote: »

Could you tutor? An hour a week maybe. You can tutor from home if you want to as well. x

I had a fabulous tutor for my eldest son for Maths (needed to pass A-level maths to get into uni) and she did it by Skype.

Willowtree222

jammydodgersandrhl wrote: »

I will need to look into this - I've never done it before! Great idea!

What age do you teach? Could you do exam marking or moderation as well? This can apply to KS2 SATs as well as GCSE marking. If you need recommendations for tutoring, then message me, I know one that is great. x

jammydodgersandrhl

Nicnak wrote: »

What age do you teach? Could you do exam marking or moderation as well? This can apply to KS2 SATs as well as GCSE marking. If you need recommendations for tutoring, then message me, I know one that is great. x

I teach primary children. I have a history undergrad degree and a history masters degree along with my pgce cert. Exam marking might be a better option - im a single mum so managing to tutor in spare time would be tricky. I have evenings free (no life! haha) so marking would be good.

crazy_cat_lady

I'm a teacher too, and I make extra money by doing exam marking. It means I'm more busy than I can imagine for June and July but it also means I get a bit more money in, and can treat the kids during the summer holidays.

Willowtree222

jammydodgersandrhl wrote: »

I teach primary children. I have a history undergrad degree and a history masters degree along with my pgce cert. Exam marking might be a better option - im a single mum so managing to tutor in spare time would be tricky. I have evenings free (no life! haha) so marking would be good.

crazy_cat_lady wrote: »

I'm a teacher too, and I make extra money by doing exam marking. It means I'm more busy than I can imagine for June and July but it also means I get a bit more money in, and can treat the kids during the summer holidays.

I mark for English, and it is a really hard 4 weeks whilst it is going on, but get a good couple of thousand for doing it. It usually pays for a summer holiday, as well as a few hundred extra off my debt. I always buy little one a treat as a thank you for understanding that I am a working mum. Last year, she got a new bike and was made up with it. x