Third time's the charm...

RelievedSheff

Deleted_User said:

Aw go you, you are doing so well. 

I was the same when I was paying off my debt the first time. I hated waiting a month to update my figures and make any extra payments. 

Loved that feeling when I paid off a debt, I probably did it all wrong but I paid off as much to one as I could just to get rid of it then when that was gone switched all the payments to another debt. 

It worked for me and made me feel better about it. 

We are using your method of picking a target debt and focusing on paying that one off ASAP and then moving onto the next. We have found it to be a great way of keeping ourselves motivated so far.

We have now picked off all of our easy targets and have the bigger balances left but we will use the same method with those and target one at a time.

We have found that we get a little moral boost from paying off a balance and closing the account.

LittleMissDetermined

RelievedSheff said:

We are using your method of picking a target debt and focusing on paying that one off ASAP and then moving onto the next. We have found it to be a great way of keeping ourselves motivated so far.
We have found that we get a little moral boost from paying off a balance and closing the account.

Because I get a 'feel good' boost from clearing a balance I think this may be a better way to tackle them rather than more evenly spread overpayments for all... I will still prioritise the one with the highest utilisation though.  Will have to re-jig my spreadsheet but I think this means the first one can be clear in 3 months and then one every 3 months or so after.

I think it will feel less of a big 'slog' that way - thanks guys  

LMD x

[Deleted User]

You need to keep yourself motivated somehow and that's what did it for me. Getting to the point when I could close one of those accounts down was a massive boost for me and kept me spurred on and determined. 

LittleMissDetermined

Yesterday's payments are now showing on the updated balances so my total outstanding is now under the £20k mark - and I still have 3 more payments to make so I'm really chuffed with that!  For context, in July it was just under £32k so that gives me a good indication of what I've achieved in quite a short time.

That little check has set my mood up quite nicely for the day  

No plans to go anywhere at all today so will definitely be a NSD for me.

Have a good day!

LMD x

LittleMissDetermined

Just a lunchtime update to say our mortgage has been approved!  *does a little jig*

I'm so happy I could actually weep with joy... I can start to get excited now and maybe even start doing some serious packing. I didn't want to do too much in case I jinxed us! 

LMD xx 

RelievedSheff

Congratulations. 

[Deleted User]

Congratulations and congratulations!! So exciting.

Four_Seasons

Congratulations, do you have any idea of the area/style of house you will be looking for x

LittleMissDetermined

Thanks, we have already had an offer accepted on one, based on a decision in principle we had from the bank. I was just nervous about the full application and hard credit check. We are buying (I can say that now - eek) a 3 storey 4 bed town house in the next town. 

LMD x

Four_Seasons

That sound lovely x