The 'Extra Payment Every Week' Thread 2015

A question about : The 'Extra Payment Every Week' Thread 2015

Welcome to 2015 and the 4th year of this thread!

The idea was conceived by inamin in 2012, continued by Betty Crumble in 2013 and then taken over by yours truly! In that time it has kept lots of us on track and helped clear thousands of extra debt ЈЈЈЈЈs.

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 expensive than the others) and it can be for as much or as little as you like.

However, if it helps, then you are more than welcome change the focus from a debt to a savings goal, that's ok too!!

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 minimum and then paying less on the due date!!!! )

If you wanna state your goal/debt in your first post then please do so, we like a bit of waffle

A signature line that states your amount that week, then cleared and added to your total at the end of the week so we can all see where we're at when we post is a good idea too. Personally, I've left previous years' totals on mine too, I love seeing that I've cleared Ј2k in extra payments in the last 3 years using this thread!!

No amount is too small! Every little helps as they say in a certain blue supermarket! Where you find the extra money from is up to you!

Everyone is welcome and I look forward to having you on board.

Lucky Xx

Best answers:

• Hi, I'm having a go at this this year. I reckon the more I challenge myself the better. I will concentrate on CC of Ј268.38, then Overdraft of Ј1,350 then huge CC which I doubt I will clear but I want to make a good inroads to this year. To clear it all would mean overpayments of approx Ј127 per week . here wego here we go here we go
• Fab to have you on board MiT!
• Count me in for 2015 Off too edit signature
• Thanks for the new shiny thread plmbl . I can't believe I paid almost Ј80 to my cc in just a few weeks so count me in for this year. I am going to try and reduce the cc by Ј500 extra this year so fingers crossed
• Oooohhh thinking about setting a target for the year but I did so well in 2014s without one I'm thinking it might jinx me! Think I'll just say "Aim to beat last year". Off to get my sig ready
• New year and a good spring clean on my finances things are worse than I thought and there is very little to spare but life happens unexpected events of last year affected by spending, so my debt is higher than last year even though this thread inspired me to make extra payments. I am off to edit my signature and have a good cry!
  ............nah already done that maybe a cuppa tea and ring BT to reduce my payments.
• Ј6.93 overpayment on credit card. that felt good!
• Welcome everyone! Lovely to see returners and new faces. 2015 is going to be a great debt busting year!
  I did my monthly debt calculation this morning and it stood at Ј2755. Couldn't help but send an extra Ј5 to Bcard to make it a nice round Ј2750. Sad I know, but it's that kind of OCD behaviour that is helping me pay off the debt . 3 and a half years ago I owed Ј23k .
• Hi, I'm newish here and this will be my first challenge.
  I'm going to try to make an extra payment off my Barclaycard which has a balance of Ј9,030.41. I am paying Ј400 off per month as the normal payment so will pay extra per week on top of the Ј400.
• Happy New Year!
  I'll be doing this again this year, I'm hoping to actually be debt free my Sept-Oct 2015.
  I've started the year with a bank skim of Ј3.54 to the credit card.
  Best wishes to all the other challengers!
• hey hey! I did this last year but didn't post each week.
  I am aiming for at least aЈ5 a week which is only Ј260 a year but that will be on top of my other payments - every little helps!
• A quick bank account skim this morning so 9.36 to CC
• Hello and Happy New Year to faces new and familiar .
  I've got an outstanding balance on the CC from car repairs. Its 0% til March but I want it gone asap. So, first overpayment of the year Ј10 due to amazon voucher from surveys which means I dont need my kindle budget this month.
  Right, off to edit my signature.
• First payment of the year for me Ј9.77 to the cc
• First payment just made - Ј5.10
• Hello, can I join this year please? I've read in the past, but wasn't quite sure how to jump on the bandwagon
  I've got lots of debt, all at 0%, and so far have been taking a slow-and-steady route to clearing it - but I'm SO fed up of juggling between 0% deals, I want to find a way to pay off more, without rocking the boat on my steady-steady regular budgeting - and this seems perfect!
  I'm picking on one CC, which has a balance of Ј3k, and a 0% deal which ends in September. I'm paying Ј100 a month as a regular payment, but need to increase this quite a lot to get close to clearing it in September, so the extra payment a week challenge is perfect I hope!
  Will update my sig and start working out where to get that extra payment from this week!
• Hi, can I join please?
  I had my LBM back in Jan 13 and was doing really well, then last year we had a kitchen extension built and our finances were all over the place. I'm absolutely loving the new space we have but not these new extra debts.
  I've joined some other challenges as well so fingers crossed this is our year of finally getting on top of things.
• Course you can suziebabe and chocoholic!
  People make extra payments in all different ways. Examples include;
  Bank account skim - say your balance is Ј123.45, you could send the Ј3.45 to the credit card (or even just the 45p if you are feeling the pinch, or Ј23.45 if you are flush!).
  Walking to work instead of taking the bus/car and paying the bus fare or parking money saved off a debt.
  Budgeting for something and then paying any monies left over to the debt. For example, Ј100 for food shopping, only spent Ј90, so Ј10 off a debt.
  Paying any tips you get off a debt if you work in the service industry.
  Committing to paying a set amount each week, such as Ј5 every Friday.
  Banking coins from your penny jar and paying it off a debt.
  Making savings by switching utilities etc to cheaper deals and paying the difference saved each month towards a debt.
  There are lots more. Please feel free to say what you do if I haven't mentioned it and you think it will help.
  Well done to all those who have made your first payment already Xx
• Thanks for the ideas lucky.
  I've made my first payment of Ј10 . I've not decided how i will pay each week but probably by skimming my bank account each week.