M challenge for End of year 2008

fairmorn308

well guys my debts so far are £19800 and i plan on reducing it down to around ZERO by end of the year

I had a choice. continue paying repayments or try clear my feet to start a fresh.

Wish me luck guys.

poorandindenial

All the best Fairmorn, fingers crossed for you.

So, the gazillion dolar question, how you going to do it???

fairmorn308

fire all my wages into paying off my debts leaving myself with £400 spending money for the 2 weeks am home a month. will be getting around £2500 from bank charges and fingers crossed will manage to get a week of overtime which will mean am totaly debt free for xmas it will be hard but i really want to give it a go

poorandindenial

It should be doable, I have been throwing all but about £380 a month (excluding non debt bills) at my debts since the start of the year and to be honest, it was amazingly easy to get used to spending a lot less (now why didn't I do that years ago).

I look forward to reading your updates

fairmorn308

debts a month are 615 every month and in total am throwing nearly 1900 every month to the debt and my bonus in october aswell plus other wee bits and pieces

Sammy_Girl

Good Luck Fairmorn, I hope you do it. I've got circa £15k debt that ideally I want to clear by the end of the year, but realistically April 2009! I pay £450 a month towards household bills etc then throw the rest at my debts. You definitely do get used to living on a lot less money! But when you see those debts come down, it really motivates you! Keep us updated on how you're doing!

jak

It's great to see you are so focussed. It really is amazing how quickly you can get used to spending much less money! We have found our life style has actually improved because we are budgeting for everything. It takes the stress out of birthdays, christmas etc. because the money is there!
Good luck. I'm sure you'll do it!