"Thevinternet's still in debt" diary
in Debt free diaries
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So I guess the question really is do I want to talk to Egg who I have the loan with and see if it can be reduced, or do I get another loan elsewhere with a smaller monthly repayment to pay it off? I'd rather not get into more debt when I've been working so hard to get out of it, but then again, I don't want to find myself in trouble at Xmas because I can't get enough work to keep paying my minimum repayments each month.
The good news is that I'm really starting to make a dent in my debt now. I joined this forum in March, and I was standing at £40,777 - now that's down to £36,825.80. I feel like that's a much more manageable number, though I know it's still huge! Furthermore, Egg have extended the term of my loan, but reduced the payments each month from £249 to £80 per month - and it only costs me an extra £300 over the life of the loan, so I was very pleased indeed. Getting through the next few months (as Xmas approaches) and down to under 35k is what it's all about. Hope you guys are all doing fine too. xx
I'm dead proud of myself and looking forward to paying more of my debts off in 2009!! Have a merry Christmas everyone!! xx
And my DFD was originally Sept 2016 and now it's July 2016 - an extra two months of my life when I'll be actually earning money for myself instead of for the Credit card companies!
I have also joined the PAD challenge to give me some extra support, and today I transferred £250 across from my egg card (17.9%) to my barclaycard (6.9% for the life of the balance). That means I only have about £480 left to pay off my Egg card and then I can be rid of the damn thing forever.
Wins for 2020: April - Flowers, Keyring
1. Buy a piggy bank and put spare change in there - then at the start of each new month, throw it at my debts!
2. Take the bus to uni instead of the train - it works out about a third of the price, even though it involves me getting up at the crack of dawn!
3. Take a packed lunch to uni every day, and make one for my fella
I think that's all for now. If I can keep up with these throughout February then I'll save heaps of cash!:D
It really is surprising how much the small changes do add up. I can't remember now when the last time I paid for a shop bought lunch. I force myself to take something every day...I hope to lose a few pounds eventually too.
Join the Payment a Day thread, I think you'll like it there...you don't necessarily have to pay something every day but if you're chucking money in a piggy bank every day or 'awarding' yourself 50p or something per non spend day, it's great to see it all add up
Padding: Day 42
Thanks Floozie, I'm pleased you enjoyed reading about the Odyssey!! I've joined the Payment a Day challenge and I'm really enjoying it so far, so I'd recommend it to everyone.
I've just joined the February 'No Spend Day' challenge too - I like to keep busy! I'm aiming for 5 no-spend days in February, let's see how I go! It might be difficult with Valentine's Day coming up!!
It's been a good week so far - Barclaycard put up my credit limit, and then let me do a BT from my Egg card. It's 6.9% for the life of the balance, much better than the 17.9% rate on my Egg card, so hopefully that will save me a few quid in the long run, and will mean I can tell Egg to shove it a bit sooner!! Anyway, the result of that and the extra payments I've been making means that my new DFD is.....drumroll....June 2016!
Yes, I know it's still yonks away, but I'm getting there...slowly. xx
Debt September 20th 2022 £2991.68- 96.92% paid off