Pay off £20,000 (ish) by Xmas 2008

Guesty6

Woohoo, big step tonight towards my target

Had a guy round to view my van and he said he will take it

So that should be just over 4165 off my debts :j:j:j

kizzykizzywizzy

Hi there,
Yet more positive stuff being posted that's great:T :T :T

I've taken the plunge today & cut up all my empty credit cards ( except 1, which is for dire emergencies I know I won't use it & have lowered the limit from £11,400 - £2000 )
I have written letters to the credit card companies to cancel the cards & have lowered my overdraft limit from £3000 to £500.
So although I know I won't be tempted, temptation has been taken away, feels like a huge step, as I have nothing to fall back on yet until have a few savings, but as I never want to be in debt ever again, had to do it. It's taken me over 2 weeks to pluck up the courage!
Good luck to you all :T though it seems you are making your own luck well done

Guesty6

Nice one Kizzy!

Just listed some more stuff on ebay, so hoping that does well, will keep you all posted.

If my Van goes I can also cancel my Insurance which will save another £60 a month

taxi73

Well done everyone..it's all good news

Uniscots97

Just popped in to say hello to everyone and see how everyone's doing. Not much to report here. Keep up the great work everyone.

callyh21

Help Me Pay Off £18,000 By Xmas 2009
Hi,

My name is Cally and im 22, i live with my partner Chris who is 23. We currently owe around £17, 900 and i would love for us to pay this off by next Xmas, so we can start 2010 afresh and look at buying our 1st house!! By then we'll of been together 11 years!! and our daughter will be 4, so i'd like us to own a house because i am so sick of renting.

I will list below what we owe and who too!!!

WHO/ AMOUNT/ MIN PER CALENDER MONTH!

GE MONEY LOAN/ 4100 :eek: /79
LLOYDS TEB LOAN /4700 :eek: /106
LLOYDS TSB OVERDRAFT/ 2470 :eek: /27
HSBC OVERDRAFT/ 1500 :eek: /30
HALIFX CREDIT CARD /900 :eek: /35
AQUA CREDIT CARD/ 450 :eek: /25
CAPITAL ONE CREDIT CARD/ 300 :eek: /20
TAX CREDITS OVERPAYMENT/ 3500 (THEY SAY!!!:mad: ) /84

The worse of it the credit cards have hugh interest rates but because i have such as terrible credit rating i cant switch them!! So they need to go first
I am going to ring all the bills this week and either cut off things like sky, phone internet!! Switch to cheaper supplier or reduce!! Because after doing my SOA i can save at least 200 on these 3 alone!!
I need lots of encouagement as i am terrible with money and even worse at saving it!! below is my SOA i know what i need to do though CUT BACK!!


Please help me Thanks Cally

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 921
Partners monthly income after tax....... 980
Benefits................................ 355
Other income............................ 0
Total monthly income.................... 2256

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 495
Management charge (leasehold flat)...... 0
Council tax............................. 105
Electricity............................. 50
Gas..................................... 30
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 50
Mobile phone............................ 50
TV Licence.............................. 27
Satellite/Cable TV...................... 65
Internet Services....................... 18
Groceries etc. ......................... 300
Clothing................................ 0
Petrol/diesel........................... 120
Road tax................................ 18
Car Insurance........................... 105
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 35
Childcare/nursery....................... 540
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 12
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2090

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 3000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly.. .APR
GE MONEY LOAN..................4100......79........8.2
LLOYDS TSB LOAN................4700......106.......7.9
LLOYDS TSB OVERDRAFT...........2470......27........17.3
CAPITAL ONE CRED CARD..........250.......25........34.9
AQUA CREDIT CARD...............400.......25........33.9
HALIFAX ONE CREDIT CA..........900.......30........27.9
Total unsecured debts..........12820.....292.......-

Monthly Budget Summary
Total monthly income.................... 2,256
Expenses (including secure debts)....... 2,090
Available for debt repayments........... 166
Monthly UNsecured debt repayments....... 292
Surplus(deficit if negative)............ -126

Personal Balance Sheet Summary
Total assets (things you own)........... 3,000
Total Secured debt...................... -0
Total Unsecured debt.................... -12,820
Personal net worth...................... -9,820

Uniscots97

Cally nice to see you here, I realise the thread's 48 pages now but it is worth reading. Apart from some of the ideas for cutting your outgoings in your SOA that you got in your other thread, here are a few of the ideas people have used in this thread to boost their payments (not all mentioned as this is off the top of my head):-


cashback sites (quidco etc)

click through sites (I think EagerLearner does a spreadsheet of all the click through sites and she says its possible to earn upto 2 quid a day from these)

selling items on ebay/amazon/green metropolis/car boot sales

survey sites (yougov.com/ciao......)

second jobs (anything from babysitting to turning a hobby into a money making scheme. There's someone on here who makes greetings cards)

sign up for freebies (get the ones you'll use and therefore save money out of your budget. I recently got a box of Thorntons chocs for filling out a survey and it saved me the cost of a Mother's Day gift and Mum was pretty chuffed too)



These are only a few of the ideas we've all used. Don't get disheartened you can do this. Even a few pounds extra paid can make a huge difference.

Uniscots97

Cally I copied your SOA into your original thread and made some suggestions there too. Hope it helps.

andan

Hi guys and welcome to Cally, good luck with it all. Everyone seems to be doing really well. Unfortunately mine isn't a very positive post today. Am getting a bit fed up at the moment as i just seem to be paying money out on things we need but i just feel like i am not making much headway at the moment. Just having a little rant, as feel its one of those times at the moment, where there is two steps forward and one step backwards!

Well, enough of my moan, i still have a week off and am spending it visiting my family so i will have some time to do some money making, however not much time to do much mystery shopping. Hopefully my next post will be a bit more positive!! Good luck everyone else.

andan

Hi guys and welcome to Cally, good luck with it all. Everyone seems to be doing really well. Unfortunately mine isn't a very positive post today. Am getting a bit fed up at the moment as i just seem to be paying money out on things we need but i just feel like i am not making much headway at the moment. Just having a little rant, as feel its one of those times at the moment, where there is two steps forward and one step backwards!

Well, enough of my moan, i still have a week off and am spending it visiting my family so i will have some time to do some money making, however not much time to do much mystery shopping. Hopefully my next post will be a bit more positive!! Good luck everyone else.