Joeyzaza82 says although I'm cheerless, I'm still in a pretty good mood. :)
Alright
6 days ago
One down, 3 to go!
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How to pay off my debts
It made me
Free!
 "Being debt free is so liberating. Having good credit is invaluable, and there's nothing like qualifying for 0% interest on a car!"
How I did it: Today I officially payed of my student loan, and all my credit card balances are at zero! Aside from my loan I never really had major debt to begin with. I did not take out any credit cards in college, knowing what a slippery slope that could be. I actually did have bad credit for a time from identity theft, so I had a taste of how bad things are with a low credit score. Fortunately I was able to resolve the situation with a lawsuit and my good credit was restored. Having good credit has lots of perks like low interest rates, high spending limits, and no interest for a year offers. Lessons & tips: You have to be responsible. Having a budget, keeping track of my spending, and balancing my checkbook are all habits I practice. Discipline yourself. I work for myself and pay my own taxes so I HAD to make it a habit to have my checks deposited to my business account first and then pay myself the after tax balance, just as you receive your paycheck with the taxes taken out from an employer. I have friends that freelance too and don't put away the tax money, which leads to a bad situation come tax time.
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More "How I Did It" stories
thejourney is letting with love and kindness
It made me
Happy, Joy!
How I did it: I set up automatic payments. You forget about the money because you never see it go. When one debt was paid off, I put most of it on the next in line and put a small amount into savings. So I paid my debts and myself. Read how I did it…
ellaesflavia is planning how to start her journal
It made me
incredibly happy
How I did it: Well it was hard, I had a crappy job, a really crappy one for like 8 months, still I'm thankfull for it because I'd have more debt if I had no job. Anyways... I got a new job on december and the money I received from it helped me getting all done and saved, I'm breathing now in relief and happy about it. Read how I did it…
It made me
feel relieved.
How I did it: I made a promise to myself that I won't be spending on anything that I don't need. I registered on mint.com and analyzed my expenses and set up limits on my spending trends. I made sure to hold on to my job (even though I wanted to move) until I pay off my debts and pay my car loan. I am now almost debt free. Read how I did it…
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Entries
Joeyzaza82 says although I'm cheerless, I'm still in a pretty good mood. :)
Okay
1 week ago
so I changed the name of this goal from ‘save money’ to pay off my debts, because I’ve made the changes necessarry to save money, but since I had to borrow some to make that happen I still cant save until everyones paid off, so thats the reason for the new name.
lancscat is sorting her life out!
Untitled
2 weeks ago
busy working week, shattered now, not safe yet, but moving in the right direction.
lancscat is sorting her life out!
Untitled
2 weeks ago
another long but great day at work, am shattered. but, am now keeping diary of everything i spend each day, and am doing some ironing for a lady to make a bit of extra cash. might do an extra night shift on friday, but may be too tired by then. all helps though.
To Pay List
2 weeks ago
- pay back my friend
- library 1 fees
- library 2 fees
- hospital bill
- tmobile
- express credit card
- bofa credit card 1
- bofa credit card 2
- capital one cred card
- bank
Joeyzaza82 says although I'm cheerless, I'm still in a pretty good mood. :)
Movin right along
2 weeks ago
So in addition to my savings account, I’ve also set up a christmas account, so thats 2 accounts, and I signed up for the keep the change program which will secretly dump small sums of money from my checking into my savings, plus I’m moving into a cheaper place to live this week so I’m doin pretty damn good with this one, though I haven’t actually saved anything yet so I’m keepin it on here for at least a little longer.
Joeyzaza82 says although I'm cheerless, I'm still in a pretty good mood. :)
Movin right along
2 weeks ago
So in addition to my savings account, I’ve also set up a christmas account, so thats 2 accounts, and I signed up for the kee the change program which will secretly dump small sums of money from my checking into my savings, plus I’m moving into a cheaper place to live this week so I’m doin pretty damn good with this one, though I haven’t actually saved anything yet so I’m keepin it on here for at least a little longer.
lancscat is sorting her life out!
Untitled
3 weeks ago
applied for 0% balance transfers but was turned down and wasn’t able to balance transfer onto other cards. However, I did sit and look through my finances and worked out the actual interest I was paying, and am using the snowball effect. Luckily this coincided with a special deal from one of my 4 credit cards, which meant I was able to transfer £200 from my highest interest card which has a balance of £5729.32 to one of my cheaper cards on their promotional rate of 1.9% which should help out a bit. The offer rate ends in December but is 20% so still a bit better than 27%!
Have also applied for a student bank account with an interest free overdraft of £3000, which I doubt I will get, but if I do, I will transfer £3000 from my ridiculous interest rate credit card.
Unfortunately I missed a payment on my high rate credit card as I have to pay around £150 in minimum payment which is mostly interest, but because I missed the payment due to lack of funds in my bank account, I have been charged £24 already and will be hassled by them on the phone every day until I pay it. But, I have transferred the missed payment to my credit card, sent a cheque, and am hoping to sell up any savings and put all my efforts into clearing this ridiculous card. Closing the account, then working off my other three cards which are less in interest and balance. This highest card is the monster. Once its paid, I will be able to use the money I was paying onto that every month, to pay off my next card. The second card has a balance of £1500 and a minimum payment of £20 a month, so £150 would have a much bigger impact.
Have also applied for lots of free samples of nappies, face creams, etc as that will save buying puppy pants and the samples can be used for christmas pressies.
Am also keeping a daily spending diary, and have put ads in the shop for dog walking, babysitting, etc. And made use of free ebay listing to try and sell items that I don’t use. At some point, I need to pick up my cds, books, etc from my grannys house and sell those.
So just have to keep plodding. Yesterday I managed to reduce my highest rate credit card from £5729.32 to £5390.32.
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Ask for advice: Get help from people who've accomplished this goal
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naijacandy asks,
“How to not dig yourself deeper during Xmas?”
— 3 years ago |
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