Pay off £8000 in a year challenge...

In_Search_Of_Me

Evening all! Pay day for me yesterday & in then out it went again lol!! Getting there although will struggle with the target but still hope to get there but tackling the grocery budget (GB). Have cut down hugely on this but still a way to go! Caved today on my no spend week to get non alch beer! Some argue it isnt worth it but its a compromise for me - I like the taste & dont get a hangover & will sipp happily while watching the apprentice! How are others doing?

ltm07

Hi all! Just an update on my total so far,although it looks alot worse than it really is,as some transactions are still going through & we are now budgetting monthly rather than weekly for things, so a month's worth of money rather than a week's worth has been 'piggybanked' into seperate accounts IYKWIM! So if we offset everything our debts would be alot closer to £31k. House Insurance went out this week too so that was over £250. We know that we aren't going to make the £8k,but will carry on regardless. We have started to take a more laid back attitude to tackling our debts, which we appreciate that some of you may not agree on. Set our DFD back by 14 months & by doing this we can both carry on chipping away at our debts & at the same time allow alot more slack. It's the only way that we feel that we can deal with this without consolidating or going without treats & getting so fed up that we give the whole thing up! Thanks for reading & back tomorrow!! All the best!!

In_Search_Of_Me

I agree with you LTM! onghaul debt needs longhaul strategy or we'd all go a bit nuts - its all about balance if you ask me! My theory is the same as yours - if it takes longer then so be it! I would love to be a person who could deprive myself of everything but I cant and at the end of the day its getting there that counts! Some of us just go the long way round but doesent mean were not going in the same direction plus we may just actually end up enjoying the journey & seeing some beautiful sights and meeting lovely peope along the way!

ltm07

Thanks ISOM! I am glad that you can see where I'm coming from, as it does niggle me on whether we're doing the right thing by putting our DFD back. We have learnt from our mistakes in the past & gone are the days when I would buy a £150 jumper or we would buy 3 or 4 takeaways a week. We are in the right frame of mind to clear our debts & as you say we will enjoy the journey much more along the way by not depriving ourselves. All the best, back later!!

wannabemoneysavingstar

OMG forgot I was on this thread!!:rolleyes:

So far paid off £2560 never going to get to the 8K but Im doing more than I thought I would. Got cashback waiting on Quidco and Topcash back and have started ebaying like a thing possesed (sp?), made £35.00 will all be going towards the debt.

My lightbulb is definately shining bright at the moment, lets hope it carries on....

In_Search_Of_Me

Keep up the good work...even if we dont hit the target at leat its something to aim for rather than plodding! Works for me anyway! : )

embarrassed_about_my_debt

Hi all,

I've just gone over the 75% mark

I've paid off £6,268.55
Got £1,731.45

I know this is the £8k challenge but im going to try and aim for £10k by the end of the year.

My total debt has just gone below the £10k mark so im in a really good mood today!!

smithywilko

Congrats EAMD! Into single figure thousands now, I'm looking to when that happens to us! We're doing pretty well, heading towards our target of clearing all credit cards and overdraft by end of September so hopefully we'll make that.

ltm07

You guys/gals are doing so well it's putting us to shame:o ! Not giving in though! It will be our 1st anniversary since LBM soon & we hope to have paid off £2500-£3000. At a bit of a sticking point at the moment with one thing & another but we aren't going to let it get to us & hopefully we can knock at least a couple of grand more off over the next 6 months! Well done all & keep going, you should all be proud of yourselves!!

embarrassed_about_my_debt

@ Smithy wilko - Thanks been hovering around the £10 mark for a while has had some car bills come in that put me back a couple of months but glad im there now!

@ ltm - We arent putting anyone to shame, everyones circumstances are different. I dont have a house to run so my spare money can go on debt rather than bills. I wouldnt be able to get through as quick as i am if i had my own place and also got a decent payrise which is really helping. It has removed my overtime from next year but works out alot better.

You are doing just aswell.