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PP but cleared one debt!

(15 Posts)
MrsGlam Mon 14-Nov-16 16:26:36

Pointless post but wanted to put it somewhere..
I am trying slowly to clear my and Hs debts and today I paid off one of my debts and it feels so good! It was only a small debt I was paying £5 a month too but I got it down to £13 which I could make the final payment on today!
It feels amazing to have cleared one that I can put an extra £5 on to another debt to help clear it sooner!

Poocatcherchampion Mon 14-Nov-16 16:28:45

Good for you OP!

Ginmakesitallok Mon 14-Nov-16 16:31:58

Well done! I've been paying off a credit card - only £36 to go! Then will start on the other one!

cozietoesie Mon 14-Nov-16 16:46:50

Not 'pointless' at all.

Well done. smile

MrsGlam Mon 14-Nov-16 17:50:12

Gin well done it's amazing when you call up and they close the account!
Good luck with this one and the next.
Thanks everyone else

Mum4Fergus Mon 14-Nov-16 18:29:28

Fabulous, well done you! Living for the day I can say something similar smile

Donatellalymanmoss Mon 14-Nov-16 18:30:56

Congratulations, it's a great feeling to be able to tick one of the list and then watch the another go down faster as a result.

cozietoesie Mon 14-Nov-16 18:46:28

You'll get there, Mum4. smile

MrsGlam Mon 14-Nov-16 19:31:16

Keep going Mum4 I never thought I would make a dent in any of mine but got a credit card down from over 700 to just under 300! It's coming down slowly but it's coming down smile!
You will get there!

Ta1kinpeece Tue 15-Nov-16 18:25:41

Well done.
Are you using the standing order trick as well as snowballing - the results really start to kick in once the first debt is gone.

FloodMud Tue 15-Nov-16 18:39:53

That's brilliant! Yay! Still remember the date my default got removed from my credit file- wonderful feeling!

MrsGlam Tue 15-Nov-16 22:02:07

What is the standing order trick?
I am just doing direct debits?

Ta1kinpeece Tue 15-Nov-16 22:07:26

Hi MrsGlam
The spreadsheets are here
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc
But the basic principle is ....

however much you paid this month eg £22.45 .... pay that every month, rather than letting the card company reduce your amount each month

just those little amounts will RAPIDLY start cutting into the capital
and the repayment time drops
from
16 years
to
2 years
grin

AdoraBell Tue 15-Nov-16 22:13:11

Well done OP , not at all pointless posting about it.

wine congrats 😁

MrsGlam Wed 16-Nov-16 08:15:33

Oh that's fab will have a good look at it when I get on the PC later hopefully!

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