The 'extra payment every week' challenge
inamin
Posts: 122 Forumite
Hi everyone.
I have started this thread because although I am a member of some of the other challenged on here I find most of them are out of my reach financially. In my house there really is a tiny amount of wiggle room so trying to pay off all my debt in a year or make apayment everyday or things like that are almost impossible for me.
SO the idea of this is that we all make a decision to make ONE additional payment every week towards one of your debts. It doesn't have to be the same debt every week (although that may be a good idea if you have one that is more expesive than the others) and it can be for as much or as little as you like. I have 5 debts which I need to pay off and I think I can manage an additional payment each week, weather it is £1 or the change from the shopping or the amount I save when I get things on offer at aldi. WHatever the amount, I will make a payment every single week i 2012.
There is really only one rule and that is that the payment must be above and beyond your usual minimum or planned payments (so no taking it off your minimun and then paying less on the due date!!!!
)
If you would like to join please feel free, I am going to put my payments in my signature each week so you can see how I am doing ad if you decide to join then please do the same and post here each week to help inspire others.
Enjoy and good luck. xxx
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I have started this thread because although I am a member of some of the other challenged on here I find most of them are out of my reach financially. In my house there really is a tiny amount of wiggle room so trying to pay off all my debt in a year or make apayment everyday or things like that are almost impossible for me.
SO the idea of this is that we all make a decision to make ONE additional payment every week towards one of your debts. It doesn't have to be the same debt every week (although that may be a good idea if you have one that is more expesive than the others) and it can be for as much or as little as you like. I have 5 debts which I need to pay off and I think I can manage an additional payment each week, weather it is £1 or the change from the shopping or the amount I save when I get things on offer at aldi. WHatever the amount, I will make a payment every single week i 2012.
There is really only one rule and that is that the payment must be above and beyond your usual minimum or planned payments (so no taking it off your minimun and then paying less on the due date!!!!
)If you would like to join please feel free, I am going to put my payments in my signature each week so you can see how I am doing ad if you decide to join then please do the same and post here each week to help inspire others.
Enjoy and good luck. xxx
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Barclays overdraft £1290 
MBNA £3239
MBNA £4108
Extra payment a week challenge (started WC 11.5.2015) This week - £0 Total - £0
£1000 emergency fund - £0/£1000
MBNA £3239
MBNA £4108
Extra payment a week challenge (started WC 11.5.2015) This week - £0 Total - £0
£1000 emergency fund - £0/£1000
0
Comments
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Oh I would love to join this, I was going to try and do the payment a day but don't really think I will have the time or extra money to keep it up.
This sounds much more manageable for me to achieve. :j0 -
Welcome to the challenge Jazzypinkpuppet, good to have you on board.
Please pop a tag in your signature that you can fill in each week to show what your additional payment has been. As you can see mine is currently empty as I have only just started this challenge and haven't had chance to pay anything yet. Think I'm going to do mine on the same day every week. Think either Friday or Wednesday. I'm going to go and count all the changein my bedside table and pay into one of my credit cards tomorrow. x
Thanks for joining and good luck. xBarclays overdraft £1290
MBNA £3239
MBNA £4108
Extra payment a week challenge (started WC 11.5.2015) This week - £0 Total - £0
£1000 emergency fund - £0/£10000 -
Hi
I would like to join you in this I am currently doing quite a few of the challenges on here and find that they are keeping me really focused.
I will be paying the extra payment a week towards 1 cc which I only ever pay the minimum on usually so even if I only pay an extra £1.00 a week it will still be better than what I am doing now.
I have added a line to my sig and will hopefully make the first payment in the morning.
1 Sealed Pot Challenge # 1480
2 Stopped Smoking 28/08/2011
3 Joined Payment A Day Challenge 3/12/2011
4 One debt vs 100 days part 15 £579.62/ £579.62New challenge £155.73/£500
5 Pay off as much as you can in 2013 challenge!£6609.20 / £75000 -
Hello can I join please? Will add signature and stuff in New Year.
Another brilliant idea, thanks!! The forum really motivates me!
Good luck everyone!:TFinally dealing with my debts:T
1. Pay off as much as you can in 2012 - #70 £390/£7000
2. Pay One Debt 2012 - #66 0/6 debts £23.50/£740
3. The 'extra payment every week' challenge - this week £13.50/£23.50 so far!
:eek: LBM 28/12/11 £18390.37 :eek:0 -
Welcome to the challenge Littlemissdebt and Cutestkids.
I will be making my extra payment for this week today and will post later to show what it is. Won't be much as it is the sum total of the change on my bed side table but every little helps as they say!!! :j:jBarclays overdraft £1290
MBNA £3239
MBNA £4108
Extra payment a week challenge (started WC 11.5.2015) This week - £0 Total - £0
£1000 emergency fund - £0/£10000 -
Just checked my online banking and I had £5.00 to spare this week so I have used it for this challenge.
I have updated my sig and am also going to keep a little running total so that at the end of the year I can see just how much in extra payments I have managed.:)1 Sealed Pot Challenge # 1480
2 Stopped Smoking 28/08/2011
3 Joined Payment A Day Challenge 3/12/2011
4 One debt vs 100 days part 15 £579.62/ £579.62New challenge £155.73/£500
5 Pay off as much as you can in 2013 challenge!£6609.20 / £75000 -
Can I join too please? Ive just made an extra payment to my cc today of £14. I dont know how to do a signature sorry.overdraft 1 - £0 / £2000 overdraft 2 -£0 / £450 credit card £157 / £480 store card £0 / £250 loan £0 / £1210 electric bill PAID
100 day challenge £157 off £480 = £323
make an extra payment per week challenge - £119
0 -
Can I join too please? Ive just made an extra payment to my cc today of £14. I dont know how to do a signature sorry.
Hi
If you go to the top of the thread there is a green band with Main site, Forum etc along it,click on User CP this is your control panel and when you go into it down the left hand side you will see edit signature and you can put anything you want in the space for a signature 1 Sealed Pot Challenge # 1480
2 Stopped Smoking 28/08/2011
3 Joined Payment A Day Challenge 3/12/2011
4 One debt vs 100 days part 15 £579.62/ £579.62New challenge £155.73/£500
5 Pay off as much as you can in 2013 challenge!£6609.20 / £75000 -
Hi Reevy, welcome. The more the merrier!!
Off to make my payment now.
Well done cutest kids on your first payment and great idea for running total too. xBarclays overdraft £1290
MBNA £3239
MBNA £4108
Extra payment a week challenge (started WC 11.5.2015) This week - £0 Total - £0
£1000 emergency fund - £0/£10000 -
Hey Everyone,
i think this is a great idea - when i have a few pounds kicking about I never think there is point paying things off with it as it seems so little. But reading all of your messages here has inspired me massively! Every little helps so they say! :j
I have quite a few bits and pieces just sort of sitting over me, never really getting paid off, but accumulating dreaded interest! :mad:
This is a fab way to start chipping away and keeping me motivated to make sure it is done!
Thanks all, count me in!!!
Will do a signature when I look at the above post to work out how to add one on!
Kelly x6th January 2012 - THE FIRST DAY OF THE REST OF OUR LIVES! XXX
I WILL be debt free asap! :A Sealed Pot #1572
The 'extra payment every week' challenge:
This week = £5.00 Total So Far = £5.000
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