Thursday, 29 March 2012

April Debt Reduction

It is Pay Day and that means Debt Repayment. Hurray! one step closer to being debt free.

As I have already paid for our upcoming Amsterdam trip and as the car needed to be repaired, this month I am not able to pay off quite as much as normal. Boo...  :o(

CAR LOAN           £0
CREDIT CARD 1:  Was £452.58      Paid £120.00      Now £332.58
CREDIT CARD 2:  Was £634.36      Paid £26.34        Now £608.02
OVERDRAFT:       Was £300.00      Paid £0               Now £300.00

MARCH DEBT:     £1386.94
APRIL PAID:        £146.34
NEW TOTAL:       £1240.60

I have paid 7.35% of my original debt back this month, and 37.7% of the total back since January . Small steps...

I am still hoping to be debt free by December at the absolute latest, and want Credit Card 1 finished by early June.

For those of you who have only recently started reading my blog (welcome!!) Credit Card 2 is interest free for 12months, so my priority is Credit Card 1 as I still pay interest. Though it is minimal, this month £2.45  

I also put £200 into savings and paid circa £35 for my monthly service on the flat. All the other monthly bills have been taken care of. My direct debits (mortgage etc) come out of a bills account I set up so that so I never go overdrawn.

I need to set my April food budget. £20 / week. So £80 to take me until 26th April 2012.

I have also today been checking my tax code as it changes on the 5th April. I will be better off by £14 per month. Thank you kindly.

What could you do with £14??

Frugally yours

1 comment:

  1. Make some ice cream! Actually, absolutely anything you can pay off any bill is a bonus, it all helps in the long run. Its a bit like not picking up a penny when you see one because its only a penny - 100 of those make a £1 and so on. OH is putting away any £2 coins we get, I save every 5p we get. All will help towards presents. Go girl go!!


I really love reading all comments. So please tell me what you think. Abigail