wow...it really does work!

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kezzygirl
kezzygirl Posts: 889 Forumite
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edited 21 June 2011 at 2:21PM in Debt-free wannabe
Hi Gang,I hope this thread finds you well!

I am on a bit of a high,let me explain.
Like others on this forum I am battling the demon debt,but I believe I was given advice of paying even a small amoutn off debt,ie.£2 here,£3.50 there.

Well,I did this last month and managed to get a £500 debt down to £361!(obviously paid above min payment too).

Well,this month I paid £61,which has brough it down to £300 and the other day paid £2.65...which has brough it down to approx £297.

This debt has not been this low since...I cant remember!and this is what has made me high!the fact that little things are making a huge difference.

So,my advice,pay even the smallest amount from a debt and watch your balance come down.
Just wanted to share with you all!!(ps,this is pretty much the first time i have felt we are making progress in months)


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  • kezzygirl
    kezzygirl Posts: 889 Forumite
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    oh,and for weeks we have ben sticking to and paying less than £70 a week on food.However i have not managed to put the surplus to a debt,it has been consumed by other stuff.any advice as to how i could remedy this?i withdraw cash therefore the change is in my hand,making it difficult to pay it off debt.

    having said that,i suppose i could use money in acct to pay the surplus off debt....think i have found my own solution lol
  • Barneysmom
    Barneysmom Posts: 10,123 Forumite
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    Well done Op :beer:
    Kezzygirl, you sould use a jar. Cut a hole in the lid to fit coins in, but bind it so tightly and with so much packing tape it'll take you an hour to get it off.
  • kezzygirl
    kezzygirl Posts: 889 Forumite
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    Barneysmom wrote: »
    Well done Op :beer:
    Kezzygirl, you sould use a jar. Cut a hole in the lid to fit coins in, but bind it so tightly and with so much packing tape it'll take you an hour to get it off.


    ooh,didnt think of that!lol simple idea.thanks
  • CH27
    CH27 Posts: 5,531 Forumite
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    Well done Kezzy:T
    Try to be a rainbow in someone's cloud.
  • curlytop12
    curlytop12 Posts: 1,224 Forumite
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    well done.i love posts like this,it gives me a little nudge to keep at it.
    thanks
  • Svenena
    Svenena Posts: 1,450 Forumite
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    kezzygirl wrote: »
    oh,and for weeks we have ben sticking to and paying less than £70 a week on food.However i have not managed to put the surplus to a debt,it has been consumed by other stuff.any advice as to how i could remedy this?i withdraw cash therefore the change is in my hand,making it difficult to pay it off debt.

    having said that,i suppose i could use money in acct to pay the surplus off debt....think i have found my own solution lol

    Another idea would be to have a separate account for the shopping money, with a £70 weekly standing order paying the money in. At the end of the week, you could use internet banking to pay off anything left over towards the debt.
  • Sparkerly
    Sparkerly Posts: 144 Forumite
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    Well done on the inroads into the debt :T
    I have never paid small amounts like that instead I would either put the money in a pot or if it were in the bank account than it just disappears. But seeing the reduction you have done by paying even small amounts straight to the debt has made me think twice and I'm gonna give it a try and hope it works for me.
    June £25 a day 850.94/750 :beer:
    July £15 a day 220/465
    LBM - 26/5/11 - Debt £33,739.62 :eek: Now -£32,893.20

    Nifty Thrifty weightloss July 0/10lbs 0/£1,500
  • newmee
    newmee Posts: 395 Forumite
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    Svenena wrote: »
    Another idea would be to have a separate account for the shopping money, with a £70 weekly standing order paying the money in. At the end of the week, you could use internet banking to pay off anything left over towards the debt.

    I like that idea. Is it easy and not frowned upon to open another current account then?
    The greatest gift you'll ever learn,
    is just to love and be loved in return
    :love:
    Nature boy - Eden Ahbez
  • dianadoesnt
    dianadoesnt Posts: 36 Forumite
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    Well done-it gives me real hope.
    Keep at it!
    Diana
  • Svenena
    Svenena Posts: 1,450 Forumite
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    newmee wrote: »
    I like that idea. Is it easy and not frowned upon to open another current account then?

    Yep - I have four current accounts with different banks. There are other advantages to having more than one current account, such as if your card gets lost or stolen, you can simply transfer the money to the other account and you won't be stuck with no access to it. :D
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