Pay off £20,000 (ish) by Xmas 2008

poorandindenial

I just had a thought, I will probably be able to muster up £20k for payments but reducing debt by £20k - bit harder, still game for a try though.

I think I will put both in my signature and then I will remind myself how much my payments are taken up by interest spuring me on to pay off quicker.

Will be updating my totals as soon as my '1st of the month' payments have settled down but am hopeful for having reduced my debt by £1500 for the month (got a lump sum from work this month).

Gemmzie

I'm not including mortgage payments on mine, but would include overpayments if we could afford to make any! Not including secured loan either.
Just the £10k from credit cards and the DMP debts. Makes it more of a challenge for us!

Pollydaydream

Morning everyone and Happy New Year.

On the positive side, my council tax payment's gone out, so that's another £25 paid off my arrears.

On the negative side, the direct debit for my rent went out early and bounced, so £25 charge added straight away. I'm going to ask the bank to refund it, but it's just something else to be sorted out. Oh for a nice simple life - wages go in, bills go out, money left = spending .

January's going to be a lean month, can't see anything extra coming in, so just have to keep reminding myself I'm working for a better February!

Have a good day everyone.

Polly

jpwhittle

polly my dad was saying the other day that companies arent allowed to take money out of your bank early even for bank holidays in case you dont have it there and if they do, you can claim back any charges occured from them in full.
i dont even know how im oing to get through the month without going over the overdraft limit. we are already in the od and stiill have bills to go out. i could kill my stupid husband.
we are getting rent on our house next month wich will help but things should have been getting straight now. im so mad. been in a foul mood all morning and he doesnt understand why. grrr

sortingfunds

Hi everyone this is my first post. Like a lot of you I like to keep up with what is going on and have saved money here and there but this year I want to sort my debts out as they are stopping me from doing what I want. I owe quite a lot the usual mistakes credit cards and bank loans all total quite a lot so now I want to sort it! Tonight I am going to sit down and work out exactly what I owe and then it will be pay off time little by little. This forum is such an inspiration and it is nice to know that I am not alone in addressing my debts, so thanks to you all I feel inspired to do this debt free challenge. I shall post what I owe tomorrow when I have worked it all out.

P.S. Already saved £6.00 in £2.00 coins in one week not much I know but it all helps!:T

Uniscots97

Happy new year everyone! Not had much time to earn extra money but did go treat myself to a mobile upgrade (mine was a few years old). Not only did I get a FREE upgrade to a very nice new phone that'll last me another 2 years I traded my old one in and got £100 trade in! Nice eh? Not cash though it's a credit on my bill but it means I won't have a bill for a few months and the money that would have been spent on my mobile I can put towards my debt

Honeybee_2

I'll not include the mortgage then!

Well today, debt 1 is officially paid off. Goodbye Rossendales, it's not been nice knowing you and I'm not at all upset that I'll never hear from you again.

hypno06

hello! I have paid an extra £50 off today

my excitement will be shortlived though because my car is currently at the garage, and the bill will have to go on the credit card, putting me significantly behind again.

Gemmzie

You're still ahead of the game hypno, Jan to Dec is £1666.67 a month, so unless it's £3600 and you don't pay another penny until February then you're still on track!

jpwhittle

just changed the house insurance for the other house to buildings only as told tenant they must do there own contents. so knocked that down be £20 a month so as from next month thats extra i can pay of. i wanted to change completly but husband wouldnt because of the charge. at least its a saving though. if id had my way we would have benn savin another £5. i cant find anything else in my SOA to change at the moment but im sure ill find something as we go along.
looked at a loan but they wont save us anything and i cant overpay. at leas this way i can try and shift them quicker.