Ultimate Challenge. 457 days / Ј16600!!!

A question about : Ultimate Challenge. 457 days / Ј16600!!!

So, dear fellow DFW's I want to join the ranks!..and apologise about how long this is!!

I have researched, read and re-read so many incredibly encouraging threads, got myself excited over challenging myself and thought it was now time to make this REAL and make it public!!

I WANT TO BUY MY OWN HOUSE!!! I cannot do this when a considerable amount of my earnings will go to debts... so this is the plan...

From the 1st October I have precisely 457 days until the end of 2013. I personally refuse to enter 2014 ( by all means possible ) with any debt. This means working harder and longer, reducing out-goings to meagre proportions and selling everything I can afford to.

So this is the break down - rounded up to the nearest Ј100 for absolute ease as I checked these amounts a month ago and have since paid towards them!! ....

Ј350 - Overdraft. This is being paid back in another 3 payments of Ј80 and will be gone by 01st January! REPAID!!! Reached Ј1000 since first posting but the ENTIRE amount was still paid on time!!!

Ј350 - Ex-Boyfriend. For motorbike gear. 2 more payments of Ј175. Refuse to start the New Year owing him anything ( despite him being very lovely and very understanding and not demanding at all ).. REPAID!!!

Ј1000 - Credit Card.Will be maxed shortly due to motorbike insurance.. will be selling stuff to cover this but for now the credit card has to take the brunt. (Ј600 available at the moment ). Will be cleared by 31st December if it kills me and I live on beans! REPAID!!!

Ј2500 - Student Loan. Money paid @ Ј150 per month minimum and will be complete by at least October 2013 due to the amount of overtime at work I intend to get my dirty mitts on...
REPAID!!!

Ј3200 - Nationwide Loan. This was for the Motorbike ( needed for commuting to work ). I am paying Ј133 per month, never missed a payment but have set up a standing order that I can transfer however much more I can afford each month in order to reduce the amount. I want this gone by 30th June. This means an extra Ј317 a month. Once the first three are repaid the surplus funds will be channelled into this loan! REPAID!!!

Ј9300. Northern Bank. This is for a piece of land bought back home!....Ј297 monthly. I pay half / my parents pay the other half. But the loan is in my name. I want to take responsibility for the whole thing. REPAID!!!

The Nationwide and Northern loans reduced in interest the more I pay off. Not sure if this is the same with all but it helps knowing that I can get rid of it all that much faster....

So there you go Ј16600. Works out at Ј37 a day. Which will make me think before I buy that bottle of water or choccie bar I really don't need ( although vintage clothing store are more of a temptation )..

So... no clothes shopping for 15 months, I will beg, borrow and swap if I want something new. I have asked for vouchers for Christmas..I buy food from Approved Food, reduced vegetables in Tescos, earn points in every store possible, and am selling all my books, and unwanted items... I am making hampers for close friends only and one hamper to send home to Ireland for 4 people ( max Ј40 ) for Christmas.. I get deals on line where I can, promotions, vouchers, coupons ...everything!!

Petrol hits Ј200.. I make Ј1700, my outgoings are around Ј1300 ( including food ) when I pay each loan its minimum repayment... this is manageable. But to get rid as fast as I want I need to be earning another Ј700 a month. This is where the overtime at work comes in.. I need to work three extra Sundays a month...

I have no family over here to move in with, no one to fall back on but me.. I am renting a room where all bills are included and share my life with a tabby called Dorothy. I don't drink, smoke or right now go out.....It will be worth it in the end I believe that for sure. This money saving / money making malarky is thrilling..

So there you go folks... Onwards and upwards...

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Best answers:

• you sound very positive! good luck! I am hoping we can shift just shy of Ј12000 by the start of 2014, may keep an eye on this thread, please do update!
• HappyTails.. thank you.. I am very positive. It will be super tough as I won't be doing ANYTHING for the next 15 months but will keep update as much as possible..good luck on your quest!... I have just joined the No Spending Day challenge for October.. bound to be interesting with my little packed lunches at work..;-)
• I love how positive and energetic you sound best of luck with it, you definitely have the right attitude and you sound really determined.
  I will be following your story with interest as I think you're going to do well
  Mouse x
• Good luck.
  Don't deprive yourself though, a treat once in awhile will keep you sane. Keep an eye out for free tickets to cinema, or theatre, or free local events.
  x
• You sound really motivated and focussed. Good luck with it all.. it can be done.. I have a similar level of debt that I also want to pay off by the end of next year and am more than prepared to have a reduced life.. so I shall be following your thread with great interest...
  Have a scout around the board and see if there is a challenge that you would be interested in joining.. I find the NSD challenges keep me on track and am looking forward to the 100 days to pay a debt.. It's also nice to have people to share your debt-busting experiences with..
  Good luck
• BrokeMedic I will be keeping an eye on you too then...I have booked myself in for 15 NSD's already ( with 5 in a row )...I am hitting this hard.
  Flutterby..you are right... yes a treat is required so for my delightful 30th Birthday next April I am going to treat myself to a holiday..however I did Paris once on less than Ј400 for 4 days including accomodations..so I think it can be done somewhere cheaper all round for a lot less. God Bless Groupon.
  When I have goals I am ruthless...
  ( Just hit boots on the No'7 offer and scored some hamper fillers for my girlies for Xmas.. )..
• The Buddha Bowls idea sounds delicious. Just been off to google to find out what they are and I am drooling over my keyboard. Thanks for the idea and all the best for your debt free challenge
• So sitting her on my own-some I have looked at my funds.. With my income I can re-pay everything by the end of 2013 as planned... but only have Ј98 per month left...
  Might need to re-think ways of making some serious money cause if I cannot secure overtime I am a gonner.....
  However I shall prevail...
• Cod3....glad your inspired!.. you can get creative now..
  And thank you for your well wishes...
• Hey.
  I LOVE your post...mainly because you've just told me that I have 457 days to be debt free. I have been in debt for as long as I can remember and it's not a nice place. It's OK when you have money as you don't realise how indebt you are, if that makes sense.
  I added up my outstanding debt tonight and it's sitting at about Ј12,000, so that's Ј861 a month assuming that I pay it off as fast as I can and also include the interest payments each month. It's tough, but the Scalifax have increased their overdraft charges and that's an extra Ј25 a month and so it goes on and on. You get the picture.
  I'll subscribe to your posts and pop in and say hi. My diary is just a moaning session..but no-one knows the extent of my debt so it's my only escape means of this place I'm in.
  I'm off to bed and then to 'my good warm work' as a lovely lady used to say to me each morning as I passed her by.
  Talk soon.
  LL xx
• LexieLou welcome on board... thank you for your post. I swear the more people on here that know the better but I can see why people don't tell those around them! I think on my last check my debt per month is about Ј1147 or Ј37 a day. Breaking it down into days is preventing me from buying myself breakfast etc.. even that 80p is costs! I brought my own today as I have been doing most days its the little bits inbetween that break the back ( crisps, hot chocolate out of boredom etc )... BrokeMedic is all over this "bring your own food" ....
  LL your post made me ask myself what I had done to bolster my income. I had a NSD yesterday so was well proud of myself - hopefully another today. 2 ebay items sold @ Ј5 each ( Ј7.20 with postage ) so will await the "free listing" with batted breath to get more up there!!
  I have made a list of books that I am going to sell on amazon - FatBrain have accepted 3 for Ј16.20.. just awaiting that payment to clear though before I get too excited! So that's Ј26.20...every little helps I guess!!
  Do you use Approved Foods.com.. highly recommended. Nowt better that 10 packs of pasta from Sainsburies for Ј1.They are doing expensive toiletries too though.. I got 6 x Weleda Gifts packs ( expensive organic range ) for hampers for Christmas. They were supposed to be Ј16 each and I got them for Ј3... you MUST look...
  BrokeMedic ...shame on you! You do not NEED a Sky package - you shouldn't have it at all. Get a FREEview box / or at least a recordable one. Don't pay for something you can get for free and that will ultimately rot your brain... read a book! ( sound like my mother there ...lol!! )
  ....then treat yourself to an immense holiday next year with money you have SAVED!..( naughty brokemedic )....
• Okay I just had to share how I "possibly" made some money recently.. some transactions are awaiting "approval" - but one can get a little excited...
• Ј9 - checque as repayment from BT that is somewhere in my room that I never lodged.
• Ј10 - Ebay sales secured last night.
• Ј16.20 - Fatbrain book buyback.
• Ј29.70 - ( plus Ј5 October offer ) book trade-in...
• Ј13.79 - Nationwide pennies in other accounts...
• Ј12 - return product to company that I forgot about ( may not get this as its passed its 30 day return policy but I wrote a nice note )..

So there you go - fingers crossed for Ј90.69 return. Not bad for a snuffle round my room for "pennies"...
And I got more bits to sell on Ebay... just waiting for a "free inset" weekend...

• CDTDays.. thanks for that... you got a similar amount to me! Go see whats lurking for a "Ј5 for everything" sale on Ebay in your house..
  I just thought very hard and found another 7 items - just can't wait to get home and take pictures of them... lol!
• I certainly will do!! You have inspired me!
  Tonight I am washing and ironing my daughter's old baby clothes *sniff* to sell at an NCT sale this Saturday. The comission is higher there (being a charity and all) but the price per item is higher than bootfairs so I think all in it should work!
  Also just had a quick check on my gas and electricity bill and I am Ј132 in credit yay, so just have to decide which lucky credit card gets the extra money :-)
  How much I am waiting for the day when that extra Ј132 will be more of a question of, weekend break or shiny new shoes :-)