This debt must go

A question about : This debt must go

I've just been looking at my old diary which I actually started this time last year give or take a few days. It's out of date now so I thought I'd start a shiny new one ready for the mass assault on my debts in 2011.

Changes since this time last year? We are now living in our new house but we have added about Ј3k to our debts. (and a new mortgage which is not included in the debt figures)

Current debt stands at Ј12891.87 and the snowball has given me a DFD of October 2012. I personally want it cleared by the end of 2011 but I will settle for April 2012 which will bring a big birthday for me

I have just cleared my Egg card thanks to the 1 debt vs 100days challenge and am hoping to clear my o/d (Ј850) by the end of January.

I am hoping that starting this diary will give me the motivation to clear this debt once and for all

Best answers:

• Hi Starnac, wow you sound determinded for 2011 !!!
  Oooh that 1 debt vs 100days challenge sounds interesting. Once ive got rid of my big loan in Jan 12 I will look into that one, thanks for the inspiration!!
  Good luck with clearing the overdraft
• hi mummytogirls
  the 1 debt vs 100 days challenge is brilliant. the current one ends mid december with hopefully a new one starting in the new year. it really gives me the push i need. you just set a target of what you want to pay off in 100 days. you don't have to clear a whole debt you could say "i want to knock Ј1k off my loan" for instance
• Money (look away now)
  O/D Ј850
  J/A O/D Ј1459.35
  DH O/D Ј1377.02
  Car Loan Ј3502.32
  Mint (DH) Ј2122.58
  Barcalycard (DH) Ј3634.63
  Total Ј12945.90
  The mint card was paid off the beginning of this year but we ended up putting moving costs on there. We also used our O/D's to make up the deposit shortfall we had due to buying a bit earlier than we had planned.
  It has been worth it as we now have our own space but we are meant to be DEcreasing our debts not INcreasing them.
  Off to have a look up the attic for anything i can ebay
• i ventured off the DFW board yesterday. i wont be doing that again. people are so lovely and helpful on this board. unfortunately can't say the same for some of the other boards.
  got friends over tonight for a takeaway for DH's birthday which was monday. they are paying for it as a birthday treat so apart from petrol which i bought on the way home from work this morning i'm hoping for a NSD. need a MAJOR tidy up though before they come round. i really need to go to bed though so i think i might head off to bed now, get a couple of hours sleep then do a massive tidy after picking DD up from nursery. that way i can still get it done and have a sleep so i'm not too tired in work tonight.
  that might be a plan
• payday
  i had plans to pay of half my O/D this month and then the rest next month but doesn't look like it will happen. we've got a rental property up north and the tenant decided not to pay her rent this month (November) so i had to pay the same amount almost into our bills account to cover the mortgage. so there goes my clearing the O/D plan. hopefully i can still knock Ј300 off though.
  been counting my sealed pot this morning ready for the BIG count up on the thread tomorrow.
  Also made most of the chocolates ready for our advent calendars. just need to put backs on them (advent calendars not chocolate) then we can hang them tonight.
  yay December tomorrow
• as i mentioned before i would love to have my debt paid off by end of December 2011. after joining the fixed % challenge i have worked out the following
  my debt stands at Ј12902.04 as of today so to pay off all that by end of Dec 2011 leaves 13 paydays
  100%/13 = 7.69% a month = Ј992.46
  that's a lot each month
  now because i am really sad i have worked out that 1% = Ј129.06 so if i can reach that 7 times over in a month that doesn't sound quite so bad (maybe)
• Good luck with 2011 - I have the same DFD and like you I am trying to chip it down by a few months.
  Good luck for the big count up tomorrow
• hi frasersmum thanks for popping in. good luck on your DF journey. only a month in too. are you ready for the sealed pot count up tomorrow?
• i cheated and counted mine this morning. i started late last year and only had a very small amount but i made 3 figures this year so am really pleased
• i've made my first 1%
  i updated my figures on my spreadsheet and i'd paid Ј136.77 off one of the O/D's so that's 1% and some change left over for the next %. it's quite sad counting it like that but it seems to work for me so i'm doing it.
  i put another Ј20 into my O/D savings which will be moved at the end of each month to bring that down. i really want this paid off by january so that i can attack the next debt.
  the one debt vs 100 days challenge has only got 4/5 days to go now so i wont clear the Ј425 (half the O/D) by then but i did clear my egg card which was the main goal. the extra was only added to keep the momentum going for the last week or so. take 5 will start in january and that will hopefully help me clear the joint account O/D which will make me a very happy bunny
• Happy shiney new diary
• thanks beanielou. nice to see you. how's things??
• another Ј30 into my O/D savings. loan payment comes out tomorrow so i can update my signature then. also DH gets paid on the 15th and will report to me how much he has reduced his O/D by on the 14th. hopefully there'll be a nice rise in % paid off the debt by the end of the month.
• Hi Starnac
  Found you!
  Have subscribed
  I think we are both going for a DFD of Dec 2011?
• found you! and subscribing.
  heavens the sealed pot challenge is still going? I started it a couple of years ago but just cannot bring myself to open it. I keep thinking of so many good things that the money could go towards, the newest being the windows but i can't seem to contemplate opening it until it's going towards a sausage dog.
• Don't give up the dream of your sausage dog LT!
• It's on year 4 now. I'm on my third year!! Although I started late the first year I did it so only had about Ј27 in it. I had Ј180 this year though so really pleased. Yours must be pretty full now LT. How can you not open it? Curiosity would have got the better of me by now
• Are sausage dogs really expensive then?