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2013 Goals - Rough Draft

December 7th, 2012 at 04:33 pm

Basic Goals:

[] Pay off fridge freezer by September 2013 (£259)
[] CC1 min. payment to £60
[] CC2 min. payment to £60
[] Snowflake towards debt - and track snowflakes

Would-love-to-achieve:

[] Savings to (at least) £200
[] CC1 min. payment to £30
[] CC2 min. payment to £30

Right now, both CC min. payments are close to £90.

If I don't pay off fridge freezer by September I will be charged interest.

I need to think of ways in which I can get "snowflakes" to put towards debt.

My dream world would be to cut my CC debt in half but that isn't realistic - not in one year anyway.




Posted in Goals | 4 Comments »

4 Responses to “2013 Goals - Rough Draft”

  1. snafu Says:
    December 7th, 2012 at 07:49 pm 1354909763
    1354909763

    Good goals! What do you need to do to reach those goals? For example, paying 33 pounds each month December 2012 thru August 2013 will have the freezer paid before interest kicks in. If you're paid bi monthly, it's 17 pounds per payday.

    Have a look in every nook and cranny to identify items you no longer use or love. You can't recover sums already spent but any amount gained from selling adds money towards CCs. Is there any possibility of a part time job short term for the holiday season, to increase earnings to pay down CC. What interest rate are you charged on CC 1,2? If you post your regular monthly expenses, those responders may be able to make suggestions you haven't yet explored.

  2. scottish girl Says:
    December 7th, 2012 at 09:53 pm 1354917238
    1354917238

    CC1 is 29.9%, CC2 is lower but still in 20s I'm sure.
    However, my balance on CC2 is massively higher.
    I'm going back to work next week after being on maternity leave for nine months. I'm not sure exactly how much pay I will get because I have reduced my contract hours. I think my pay in January will be more reliable than this month's since I am still getting maternity pay.
    I get paid every four weeks.

  3. FrugalTexan75 Says:
    December 8th, 2012 at 01:47 am 1354931228
    1354931228

    I would really try to get the freezer paid off by August instead of September if at all possible. That way they can't do anything to "get" you (such as if you make the last payment in September which pays it off, but then they charge you some random fee which causes it to not actually be paid down, and so you owe complete interest ...)

  4. snafu Says:
    December 8th, 2012 at 02:11 am 1354932719
    1354932719

    I hope you'll consider posting income and expenses on the SA forum for suggestions to help get that 29.9% interest rate down from gouging. Do you know what your credit rating is? If your accounts are up-to-date, I suggest calling the credit company and asking for a reduction in interest rate. The worst thing that could happen would be 'No,' best would be a reduction from that horrid rate.

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