Pay off £20,000 (ish) by Xmas 2008

andan

Aww poor you madmich666, tempetation is very hard though! I've been desperate to go to the sales even though i don't need anything, i just hate the thought of missing a bargain.

However i have done very well and avoided them until today, i had to go into town to put some cheques in for this challenge. I went really early to avoid any rush, but i was really good and didn't buy a thing. :AI just didn't see anything i wanted. Am kind of glad i went now as now i don't feel i'm missing out on a bargain!

happy_chick_3

Hi all - how's everyone doing?

I've just done the same thing in the sales - £79 down but got lots of good stuff for that! I also went over my food shopping budget by £9 this week - never go shopping with a hangover! All in all, spending is massively down compared to usual so very happy with that.

I think I'm going to need to scale back my target for the year as I don't have a mortgage to include so I'm going to deduct my rent payments from my target. So instead of £20k in 2008, I'm going to aim for £14K.

Good news - sold some stuff on amazon and have a payment of £4.05 on the way - yippee!

andan

Well i sold my vouchers on ebay, so will transfer the money from paypal once my other items on ebay have finished. I have spent the past two days entering competitions so hopefully some wins soon. I'm off out to a house party tonight so at least that means i wont be spending too much and seeing as i have to drive back in the morning, i won't be drinking too much either.

HAPPY NEW YEAR TO EVERYONE, HERE'S TO A GREAT 2008.

WorkingHardDFW

Can I join this challenge?

Initially I thought like a few of us that £20k in a year was virtually impossible. However after reading the thread I've realised that it includes your scheduled debt payments so for us with our massive debts with just the the monthly payments for the 12 months takes us to £17K. Goodness what could we do with that if we were debt free:rolleyes: one day....

Meanwhile by my rough calculations that means we need to find another £3k to meet this challenge this year - so we are in. This may sound easy but we've got nothing spare at present and won't have until at least September so most of 2008 it will be a challenge just making it through a month.

I guess to keep the motivation going I post regularly with a reducing target.

Good luck everyone and Happy New Year to each and everyone of us.

andan

Well happy first day of 2008. I am nursing a hangover after only three glasses of wine and three hours sleep!

Had a bit of a wake up call yesterday though, when i decided to do a budget, i'd never really bothered doing one before, especially as i'm not in debt. I've never thrown my money around and have always been careful with it, but was rather shocked/disheartened to realise that almost all my wages go purely on paying the bills and leave very little options for saving, so am now going to have to do some serious restrictions to my money and stick to my budget. Think i will have to start taking part in the grocery challenge.

Oh well perseverance is the key, so am off to do my daily clicks, enter comps and do some slice the pie. Have a good day everyone.

alimac23

Hey all,

New year, new start. My Egg payment came off today, biggest of the month so sig has been updated accordingly.

Stay positive all - we can do this!!

hypno06

I had a loan payment come out today, so heading towards £2k paid off in total, which is 10% of the target!! Woo hoo!!

January is going to be a lean month for me, as it will be for many, so not sure how much my total will change this month. I hope to have paid off £3k in total by the end of the month though, which I will be more than happy with.

Happy new year to you all and happy debtbusting!!

alimac23

Hypo,

How are you doing this? You are a miracle worker!

hypno06

alimac23 wrote: »

Hypo,

How are you doing this? You are a miracle worker!

I wish I was, but it is simply a case of hard work, a million (or so it seems) different jobs on the go, and cutting back wherever we possibly can!!

whitewing

I just wanted to pop by, and say hello and happy new year! I am still doing this challenge, although I haven't paid anything off yet and am feeling disgusted with myself as a result.

I did phone my mortgage co yesterday to find out how to overpay so I could at least make a token gesture to get me started. But they were shut until after the hols.

Scheduled mortgage payment goes out on the 4th so that may kick start me into action.

Most of my daily updates will be either in my signature or on the live off £4000 thread. So I will see you around again at some point.

Well done to everybody who is already making payments. I'm impressed!