Pay ALL your debt off by Xmas 2020

Time_2_Clear_The_Debt

Hi Muppets

Yes, I'm back again after failing miserably last year 😔😔😔 ....added more debt due to various reasons, higher childcare costs than expected, too many midweek beers when away with work 2/3 nights a week, spending extra on kids, spending loads on excursions on a 2 week all inclusive holiday with the family...and most embarrassingly having a gambling relapse and adding another couple of grand of debt from that alone. Well and truly learnt my lesson - have excluded myself from all gambling sites over 3 months ago and not remotely interested in going down that road again.

So...onto my target...can I use the same member number as last year?. My total debt is now close to £24k (will know exact figure after payday on December 30th) Have had a pay rise and my wife leaves her job in January which removes high childcare costs and saves us money overall(!), also definitely no holiday this year. She knows I have some debt but would break both my legs if had any idea how much.

I think my target should be £8000 this year which will be hard but very doable ( I have high disposable income that just gets wasted at present and all household bills are fully up to date and manageable, never missed a bill payment) This would put me on course to clear all my debts within 3 years!!

Good luck to everyone on here this year
Let's do this!!! 😃😃😃

tearsandrain

Hi there,

I am #33 from last year, please can I carry on this year. I will update later with my totals.

Thanks

Tears

Honeysucklelou2

I've finally sat down and gone through numbers and debts and arrived at the figure £10,025.65. Happy to keep the number 93 from last year

PositiveBalance

Ooh, this is a good idea for a thread!

May I please join, muppets? (Great name, BTW !)

It's £5069.01 for me.

Buffythedebtslayer

Buffythedebtslayer wrote: »

Hello

I am out of debt but always feel I owe myself a debt as I was so bad with money in the past. I really owe myself about 25 grand (!) and currently have about 3000 in savings for a house. The only way I can save is to call it a debt.

Ideally I would like to pay back 10 thousand this year. I don't think that is very likely. I am going to aim for 6000 instead - fairly difficult but possible.. 500 pounds a month. eek.

XXX

I forgot to say that I was number 18

not sure if that makes life more difficult for Muppets. Hope not.

I was thinking this morning I am quite excited to do this. Still trying to work out how. Like do I include my regular house savings? It will be impossible if I don't. I need to get this sorted so I can buy a house. That would mean I need to save 300 on top of the 200.

I wanted to open a special account for this challenge, I need to sit down and do some account organising.

Hmmm. Sorry just thinking out loud now!

KQM

Can I join please?

I would like to clear my credit cards by December 2020. Total is £11,567.66

Blackberrycurved

Just thinking this is my 3rd year on this thread and there's some great debt busting going on but generally the amounts owing are going up - does anyone else feel that. Not sure how we can support each other any ideas?

Dmlm7

Can I join please? Been a lurker for a long time
Total £6339

Eyebright

Hi Muppets, please can I join the challenge for 2020 please? I've been on and off these forums over the years, but I really need to knuckle down now and sort out my debts! My total is £18816, but that's an impossible figure for me to clear this year. I want to be debt free by the time I'm 40 in 5 years ideally. Anyway enough waffle from me...

My figure to pay off this year is £4000, if I could be assigned a number and added to the challenge. Thank you!

Also Merry Christmas to everyone

RuthC10p

Hi there,

I want to clear £12000 of miscellaneous debt in 2020 so I can move on to the real challenge of clearing my mortgage...
I'm 56 and have no pension to speak of, and a mortgage until I'm 70. So want a couple of years of intensive effort to turn monthly outgoings from debt repayment to savings. Hopefully I won't croak before I get to spend any savings I gather for retirement.