and it works most of the time. My goal is that my debts will be payed in three years :) 17 months ago
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one more to go!
And then I owe my father a bit still from when I moved out of my ex’s, but he’s patient. :) 2 years ago
Yay, the debts are all paid off. Our last payment on our last loan came off at the end of June so we’re clear. The only debt I have now is my student loan, but I’m not counting that as it may yet end up getting written off. I’m paying it back at £60 per month. 2 years ago
At last, all our credit cards are paid off. Zero balance :) Now I just need to close them down and keep only one for booking flights or similar (for security but to pay off immediately upon use in the future!).
So now the only debt is our loan that is due to be finally paid off by end July 2012. :) 2 years ago
Well, the good news is that, even after Christmas we only have 150 UK Pounds left to pay off on our final credit card. This means that all our credit cards will be at zero come the end of February 2012 at the latest. :) Great!
The final payment towards the car loan was made in November so we now have an extra 250 UK pounds free per month. The only problem is trying to stop my husband wanting to buy a new car (&hence require another car loan) anytime soon. The car has done 85,000 miles so we will have to replace it at some point. It would be good if we could get another year out of it though.
This just leaves our other loan, which will be paid off (250 per month) by July 2012. At that point, we will be debt free (not including my student loan). 2 years ago
How I did it: This month marks the payoff of my final unsecured debt. While I still use my credit cards, I'm now in a position to pay them off every month. I committed over $1200 a month to accomplish this goal, and it feels good! Now, I have $1200 a month to put into savings, buy that big-screen TV, travel, etc. The freedom feels so good!
I looked at all the "Must-pays" committed to debt going out every month. That, and the interest I paid which was money being flushed away, were great motivators. Also, the attitude of Wall Street & my credit card companies drove me to want to spite them by taking their profits away.
The downside is I'm having medical problems that will hit my pocketbook. At least I'm not straddled with the other debt, too.
The credit cards are pretty much all paid off. They would have been entirely paid off already if we hadn’t put some more on them as a result of taking a summer holiday! But that break was very essential after all the overtime my husband had been working. The good thing is that the credit cards should be paid off by the end of 2011, so long as we are careful with Xmas.
One final payment on the car loan to go (Nov 2011) then that will free up £250 per month to save!
Our other loan will be paid off by July 2012, freeing up another £250 PCM from that point.
I’m not including my student loans here as I don’t even earn enough to pay them off yet! 3 years ago
I pretty much just have my mortgage and that’s it. So I’m going to call this one done! 3 years ago
Now busy paying the debs off of my study. Next: the debts I have from my parents. 3 years ago
Me and my social worker finally put some things in a clear excell sheet. I feel much better doing something about this. It has been on the shelf for a long time! 3 years ago