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  • FIRST POST
    spamalot
    3000 Challenge
    • #1
    • 3rd Aug 06, 2:35 PM
    3000 Challenge 3rd Aug 06 at 2:35 PM
    Myself and my partner have agreed a fun and lets face it competitive way of reducing our debt.

    We're taking 3000 of our personal debts each and having a competition to see who can clear it first using the most innovative methods. This should bring out the competitive streak in both of us and the prize is that whoever wins will have cleared 3000 of their debt! Even the loser wins by getting as close as possible to it.

    He's already listing the ways in which he is going to save money so that he can beat me!!! If he wins I'll never hear the end of it!

    Bring it on!!!


    Last edited by Former MSE Natasha; 08-08-2006 at 1:43 PM.
Page 1
  • chris83
    • #2
    • 3rd Aug 06, 2:38 PM
    • #2
    • 3rd Aug 06, 2:38 PM
    Good idea and good luck!
    • James240
    • By James240 3rd Aug 06, 2:46 PM
    • 15,616 Posts
    • 9,739 Thanks
    James240
    • #3
    • 3rd Aug 06, 2:46 PM
    • #3
    • 3rd Aug 06, 2:46 PM
    yep good luck
    Matched Betting Winnings: ?????.?? Officially Debt Free!!! Official DFW Nerd 007 Ah Ha! There you are Ms 240
    • elantan
    • By elantan 3rd Aug 06, 2:50 PM
    • 19,728 Posts
    • 53,098 Thanks
    elantan
    • #4
    • 3rd Aug 06, 2:50 PM
    • #4
    • 3rd Aug 06, 2:50 PM
    this sounds like a great idea increasing your money would be the best chance of winning ..all the best
    march 2011-july2019 8 years and 4 months ... or 100 months and counting
    "what would you do if you knew you couldn't fail.... enjoy the adventure" " to my own self be true"
    • Floss
    • By Floss 3rd Aug 06, 2:51 PM
    • 4,903 Posts
    • 45,645 Thanks
    Floss
    • #5
    • 3rd Aug 06, 2:51 PM
    • #5
    • 3rd Aug 06, 2:51 PM
    do you have any ground rules...e.g. anything goes, or anything as long as it's legal?
    • 8pnoodles
    • By 8pnoodles 3rd Aug 06, 3:49 PM
    • 289 Posts
    • 151 Thanks
    8pnoodles
    • #6
    • 3rd Aug 06, 3:49 PM
    • #6
    • 3rd Aug 06, 3:49 PM
    Oooo sounds like fun. What are your plans (assuming he doesn't post on here)?

    Any ideas you can throw my way would be really appreciated!
    Pay off CC debt by Xmas 2017 #095 0 of 11,416
  • spamalot
    • #7
    • 3rd Aug 06, 8:30 PM
    • #7
    • 3rd Aug 06, 8:30 PM
    I've started loading things onto ebay in the hope that it will give my chances of winning a good start, although I think he has cottoned onto that one! He's now talking about what he can sell....mmmm

    well i still have my secret weapon.....this site!!!!

    The ground rules are:

    It has to be legal and no moving home to live with mum!
    • saubryn
    • By saubryn 3rd Aug 06, 9:03 PM
    • 600 Posts
    • 264 Thanks
    saubryn
    • #8
    • 3rd Aug 06, 9:03 PM
    • #8
    • 3rd Aug 06, 9:03 PM
    Great idea

    If you weren't working on this little competition, how long would it take to clear the 3000? How quickly do you want to clear it? I'm just curious how much you have left over - is stuff like matched betting an option?
    DFW Nerd No. 140
    Status as of 30/11/12
    Rent 2500 Council Tax 800 NlPower - 800 IF - 8000 British Gas - 112 - 102 Lloyds - 1123
    Barclays - 306 Barclaycard 1,123 HSBC - 200 Capital 1- 400 Barclayloan - 4500
  • Snaggles
    • #9
    • 3rd Aug 06, 11:02 PM
    • #9
    • 3rd Aug 06, 11:02 PM
    Hi Spamalot, this sounds like a great idea - going to suggest it to hubby as soon as he wakes up tomorrow! Oooh, I feel a challenge coming on!!!
    "I wasn't wrong, I just wasn't right enough."


    9780007258925
    • no1gymbunny
    • By no1gymbunny 3rd Aug 06, 11:17 PM
    • 387 Posts
    • 141 Thanks
    no1gymbunny
    This sounds a like a fab idea! I wish you the best of British! Really ought to try this myself. My partner and I bought a house in May 06 and I'm in charge of the money as he works away and I'm TERRIBLE with money. If it's there - I spend it! Hope it goes well for you!! Keep us posted.
    • PigginSkint
    • By PigginSkint 3rd Aug 06, 11:21 PM
    • 2,705 Posts
    • 16,454 Thanks
    PigginSkint
    What a great idea! Good luck with it!
  • spamalot
    is stuff like matched betting an option?
    What is matched betting? how does it work?

    If we were not being competitive then I'd like to think that I could do it in about 12 months, but I'd really like to speed it up.

    He's talking about selling his bike which would put him a couple of hundred ahead -eek. So any ideas would be gratefully received!!
  • spamalot
    Just to provide a quick up date on the state of play.

    Me
    1 Aug 06 £3000
    7 Aug 06 £2544.91

    Partner
    1 Aug 06 £3000
    7 Aug 06 £2995

    I've managed to reduce it by the following actions:

    £340 rebate on a fee for my rental property
    £110 monthly payment
    £5.00 sold a book on Amazon.

    Loads more stuff listed on amazon and ebay so keeping my fingers crossed that I might be able to get it down even more by the end of the month.

    Obviously I am taking the mick out of my other half for his weedy performance so far which seems to have spurred him on a little bit. He is now making boasts of being able to reduce it by £700 next month, fighting talk me thinks!

    Will keep you posted, any ideas gratefully received.
  • Tondella
    This is great, can't wait to see who wins!
    Debt Oct 2005: 32,692.94
    Current debt: 14,000.00
    Debt free date: June 2008
    • lazy&indebt
    • By lazy&indebt 7th Aug 06, 1:47 PM
    • 572 Posts
    • 216 Thanks
    lazy&indebt
    What a fantastic idea! I'd suggest it to my OH but he'd win
    Was debt free... then went travelling!
  • LJD1
    This is a fab idea. Look forward to reading more about it. GOOD LUCK!
    January budget
    Nothing left!
    • mintymoneysaver
    • By mintymoneysaver 7th Aug 06, 2:35 PM
    • 3,471 Posts
    • 17,761 Thanks
    mintymoneysaver
    You are using quidco aren't you? I reckon I got 200 by free dvd trials and signing up for new credit cards and bingo sites? Good luck!
    • COOLTRIKERCHICK
    • By COOLTRIKERCHICK 9th Aug 06, 11:28 AM
    • 10,419 Posts
    • 58,340 Thanks
    COOLTRIKERCHICK
    good luck...
    what a good challenge and at the end of the day both of you end up winning really......
    the only idea i can give you ..is try doing some r & r's at tescos.....and what ever you save with the refund put that towards your debt....you normally find that meat is normally mis-priced.....

    also send away for freebies....some of them send you money off vouchers as well which you can used in some supermarkets without buying the product....again a little saving..... which you could put the value of the vouchers used towards reducing yuor debt.....

    i know these are not big money making ideas....but in my experience of using vouchers and recently starting r & r's it will be suprising how much you can save...

    good luck ...i will watch your progress........and this will also keep me forcused as well...........
    Work to live= not live to work
    • hostie
    • By hostie 9th Aug 06, 1:58 PM
    • 497 Posts
    • 857 Thanks
    hostie
    Sounds like a great idea. I'd try it too but my partner is debt free so there is no hope there. I just wanted to caution you on the betting option. For every few moneysavers who try this to make money there are bound to be some who get hooked. There are already a few threads here from people who have had their lives ruined by various gambling addictions and I personally think it goes against the whole ethos of this site to promote these online betting sites.
    Be careful!
  • Sallys Savings
    What a great idea!!!
    I'm sure this would help many others.....please keep us up todate with YOUR winning figures
    Don't forget look after the pennies to make the pounds....even little savings will help

    GOOD LUCK!!
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