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  • FIRST POST
    • kezzygirl
    • By kezzygirl 12th Jun 11, 8:49 AM
    • 675Posts
    • 710Thanks
    kezzygirl
    wow...it really does work!
    • #1
    • 12th Jun 11, 8:49 AM
    wow...it really does work! 12th Jun 11 at 8:49 AM
    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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    Last edited by Former MSE Lee; 21-06-2011 at 2:21 PM.
Page 1
    • kezzygirl
    • By kezzygirl 12th Jun 11, 8:52 AM
    • 675 Posts
    • 710 Thanks
    kezzygirl
    • #2
    • 12th Jun 11, 8:52 AM
    • #2
    • 12th Jun 11, 8:52 AM
    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
    • By Barneysmom 12th Jun 11, 8:55 AM
    • 9,462 Posts
    • 24,285 Thanks
    Barneysmom
    • #3
    • 12th Jun 11, 8:55 AM
    • #3
    • 12th Jun 11, 8:55 AM
    Well done Op
    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
    • By kezzygirl 12th Jun 11, 9:01 AM
    • 675 Posts
    • 710 Thanks
    kezzygirl
    • #4
    • 12th Jun 11, 9:01 AM
    • #4
    • 12th Jun 11, 9:01 AM
    Well done Op
    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.
    Originally posted by Barneysmom

    ooh,didnt think of that!lol simple idea.thanks
  • CH27
    • #5
    • 12th Jun 11, 9:07 AM
    • #5
    • 12th Jun 11, 9:07 AM
    Well done Kezzy
    • curlytop12
    • By curlytop12 13th Jun 11, 7:45 PM
    • 1,094 Posts
    • 1,178 Thanks
    curlytop12
    • #6
    • 13th Jun 11, 7:45 PM
    • #6
    • 13th Jun 11, 7:45 PM
    well done.i love posts like this,it gives me a little nudge to keep at it.
    thanks
    • Svenena
    • By Svenena 13th Jun 11, 8:02 PM
    • 1,345 Posts
    • 14,843 Thanks
    Svenena
    • #7
    • 13th Jun 11, 8:02 PM
    • #7
    • 13th Jun 11, 8:02 PM
    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
    Originally posted by kezzygirl
    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
    • #8
    • 13th Jun 11, 8:07 PM
    • #8
    • 13th Jun 11, 8:07 PM
    Well done on the inroads into the debt
    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
    July 15 a day 220/465
    LBM - 26/5/11 - Debt 33,739.62 Now -32,893.20

    Nifty Thrifty weightloss July 0/10lbs 0/1,500
    • newmee
    • By newmee 13th Jun 11, 8:22 PM
    • 418 Posts
    • 874 Thanks
    newmee
    • #9
    • 13th Jun 11, 8:22 PM
    • #9
    • 13th Jun 11, 8:22 PM
    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.
    Originally posted by Svenena
    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
    Nature boy - Eden Ahbez
  • dianadoesnt
    Well done-it gives me real hope.
    Keep at it!
    Diana
    • Svenena
    • By Svenena 14th Jun 11, 9:10 AM
    • 1,345 Posts
    • 14,843 Thanks
    Svenena
    I like that idea. Is it easy and not frowned upon to open another current account then?
    Originally posted by newmee
    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.
    • rdchick
    • By rdchick 14th Jun 11, 9:20 AM
    • 1,643 Posts
    • 4,732 Thanks
    rdchick
    ooh what a great idea, I need to start working in cash more so I know where its going! xxx
    Life is too short not to love what you do.
    • foxgloves
    • By foxgloves 14th Jun 11, 12:38 PM
    • 4,399 Posts
    • 23,478 Thanks
    foxgloves
    When we were paying down our debts, I discovered that I could actually get a paying-in book for one of our loan accounts. I asked on the offchance & was told they could post one out to me. There was no mention of this when I took out the loan & set up the account. I suppose it's in the bank's interests to keep people paying the loan off as long as possible because they make more money. Once I'd got my paying in book, it was so easy to pay in every little bit of spare cash I had, just like you describe doing yourself. For instance, I'd turn out my tube of 20ps & if there was 10, off they'd go to be paid in. If I sold a couple of things on ebay or someone sold an item on a carboot for me, in it'd go. It was surprising how much quicker this amount got paid off. The bank took the standard monthly payment which was about 60 but all the tiny bits I kept squirrelling away really chipped away at it & kept my motivation levels up. So I can really see that what Kezzy's doing will make a difference.
  • babyfreckles
    Yay! Well done!

    I am on a high note myself too. Finally getting on track with paying my debts and should be debt free by Christmas!!

    Doesnt it feel good to see the debt figure going down?
    So much for 'Money Saving'
    • nicnoo99
    • By nicnoo99 22nd Jun 11, 9:02 AM
    • 20 Posts
    • 194 Thanks
    nicnoo99
    I did this as well when I was paying down my debts, paying off an amount a day, even if it was only a few pence. It made some inroads into the debt, but more importantly it kept me motivated, knowing that every day I was making some difference to my problem.
    Incidentally, about a month after it was all paid off and the card was cancelled, I had a call from the credit card company's fraud department, wanting to question all these little payments - I was gobsmacked. What kind of fraud do they think I was doing paying off 80p? I told them I was just trying to pay back my debt and they seemed satisfied!
    LBM March 2010 - 3800, December 2010 - 0
    Starting 2011 with a clean slate.
    Comp wins 2011 - Nothing yet!
    • misskaytee
    • By misskaytee 22nd Jun 11, 9:32 AM
    • 734 Posts
    • 3,765 Thanks
    misskaytee
    Thats Fab OP...No wonder your buzzing
    Everyday im shufflin' Proud Padder ~ All Hail The Power of Pad
    • kezzygirl
    • By kezzygirl 22nd Jun 11, 9:37 AM
    • 675 Posts
    • 710 Thanks
    kezzygirl
    wow...it was included in the moneysaving email!how exciting!
    Glad I have encouraged you all...we will beat debt!
    • burntfingers
    • By burntfingers 22nd Jun 11, 10:03 AM
    • 472 Posts
    • 749 Thanks
    burntfingers
    Well done Kezzy...I have heard of a payment a day but never really thought that it worked....but obviously it does...

    Congratulations !!
    Total debt 37864.78 [/STRIKE[] 31681.03 -16700
    Paid off so far.....15495.8420364
  • neverlearn
    Hiya Kezzy and well done

    I now think I will go and count my 2s and 1s and do something constuctive with it. Be back to tell you what I did.

    Thank You

    Provident 1,000
    • misskaytee
    • By misskaytee 22nd Jun 11, 10:33 AM
    • 734 Posts
    • 3,765 Thanks
    misskaytee
    Ive been inspired by your post Kezzy so Thank you for sharing

    Ive just checked online banking, but unfortunatly can't move anything around just yet, but also took a look over on the Payment a day challenge board, ive never bothered before because i know i cant physically make a payment every day, but was pleased to see i do qualify for the challenge

    I can save small amounts of cash over the month and pay a lump sum into the bank once a month, and i will also be able to pay small amounts online, hopefully starting tomorrow when some Paypal cash hits one of my accounts

    I really think this is going to work for me and enable me to clear my nasty overdraft, it sounds silly but i can always find something else to spend 50 or so on, but these small amounts will not be missed and you have proven certainly add up!!

    Thanks again
    Everyday im shufflin' Proud Padder ~ All Hail The Power of Pad
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