Pay off £8000 in a year challenge...

RiaAnn

Everyone seems to be doing so well - January is not looking so great for me, but then it is the first month we have 2 full wages coming in, so basically only mananged scheduled payments. Also not helped by relatives (in a worse situation than us) asking for money, I don't know long term how that is going to affect my target. Hopefully will make up some ground in Feb . . .

ltm07

This month been pretty much a sticking point for us as we remortgaged for a better deal & had to pay an extra £200 on our mortgage payments for the first month. Also my brother was over from Australia for the first week in January,it was OH's birthday last week & our neice's birthday on Friday so been out fo meals & drinks more than we usually would. Started doing alot more overtime so hopefully we can pay quite a bit off next month. Paid about £500 off our loans but that goes onto our overdraft. Managed to BT £3000 from Mint Card @17.9% to Natwest at 0% for 13 months so apart from 2.5% fee we haven't got to worry about paying interest on that card for another year. Will update on 31st. Good luck all.

smithywilko

Havent looked at this thread since early Jan and I am sooo impressed with peoples efforts so far... put me to shame!

Well, payday for me is tomorrow but money has already gone into my account so I have paid off all the debts today via internet banking, which has totalled £1010.29. Unfortunately had to pay £160 for car and have to buy two tyres this month so that money cant go on extra debt payment. Oh well... there's always next month!

I am focusing on 'up your income' to boost my money this month so I'll see if I can replace my auto expenses with that!

Good luck for Feb then peeps!

mark55man

OK I am in. Just updated my signature to show that I have stopped increasing debt and will now work to decrease it.

I have two challenges - £8K of the mortgage (which will just happen as Fixed rate standard payments) then £8K off CC and loan debts (4.5K off personal loan and 3.5K off credit cards).

Good luck everyone

doodledo_2

Just updated my sig and so nice to see it hitting four figures already :T

Everyone is doing so well.

cherrycokester

count me in for paying of £6000 off my credit cards

In_Search_Of_Me

welome newbies! Seems I cocked up my stats (paid too much off!!) and its going to be a tight month until 20th! Got lots of food in and lots of soup made and grocery challenge really helps. I now pay cash & it REALLY makes me think about what I put in the trolley! Also cooking alot more than I used to today made marmalade, 2 big batches of soup (2 weeks lunches) & tonights tea - pasta with cheese sauce! I do want to end the month with a bit extra to pay off so going to make a concerted effort!

ltm07

Well as i've posted before it's been a tough month for us & we have ended up worse off than on New Years Eve!:o ! That said we had to pay an extra £200 on our new mortgage as it was the first month & there is about £180 going through to various accounts in transactions from our main account. This is our first monthly update of this challenge.
December 31s 07= -£31,011.06
January 31st 08= -£31,369.34

-£358.28/£8000

Alot of work to do in Feb!

embarrassed_about_my_debt

After my manic last week in January and week off last week im now back and sorted!

Total so far £2881.85 out of my £8000 target

Had to remove it out my signature though as new restrictions mean i cant have everything i did before.

In_Search_Of_Me

Morning all. Well its payday and amazingly I've done all the figs, paid all the money & despite hard work of a month its all gone!! Total now for me is £1621.84 paid with £799.18 this month. The spending diary is being reintroduced so that I can track the "little" spends that turn into big spends & generally control my money more! How are other people doing?