Pay off £8000 in a year challenge...

RiaAnn

I agree, I am counting debt reduction. E.g for Credit cards I subtract the interest added in a particular month from the amount paid off = reduction in debt.

embarrassed_about_my_debt

Well in that case im at £5,120.67

Not as high as i thought as i added money to my debt when i had to have work done on the car which has all been paid off.

Least i can keep myself right now! Thanks!

doodledo_2

I'm the same I am working mine out on debt reduction rather than payments.

We are all doing well though all at the half way mark or over :T

In_Search_Of_Me

Being honest its just easier for me that way! The loans are the same ammt each month & the CC's vary depending on interest & my poor addled brain cant cope with too many calcs! Hoping that the amount paid will go up as my food budget goes down but with 2 days on strike this month (comes out next month!) its gonna make a difference but hopefully will mean a pay rise, although only slight in my case...

Herewegoagain

Hiya ISOM,
just found this thread, is it too late to join you, if not, do I add up from now or the 1/1/08. I'm looking to do £8000. too:cool:

lainie x

PS Do mortgage overpayments count?

In_Search_Of_Me

Hi there HWGO I think were calc debt repayment so I would just do those to be fair if thats ok?
I've just done my sums & happy with that! Will be a tight month but determined to get on track as have been a bit lax of late! Doing my grcery budget for 100!
How are others doing?

Gemmzie

Am I going mad or has the title changed?!

In_Search_Of_Me

Wrong thread maybe G? There are two me thinks - his to pay of 8000, another for 10,000 and I think even one for 20,000!! HTH?

smithywilko

The payday fairy has been again for me today, and it's all been allocated and whisked out of the account as fast as you can say 'wannabe debt free!'. Just been totting up the totals and I am rather excited because by my calculations I should have met my £8000 paid off by next month, I think I'm just over £500 off the target.
And by next month we should be below the £20,000 mark too, which although it still a HUGE amount, it will mean we've cleared about half of our debt that we started with... lots to celebrate! Hope everyone is doing well too.

In_Search_Of_Me

well done smithy! Fab for you and getting to 20,000 will be a huge psychological boost! Well done you!! How are others doing? Ben a bit quiet here of late...