Friday, 3 October 2008

Snowball Debt

I used thier little calc to figure out my debt well my cc which is the most annoying, the loan will be paid off in 3/4 years time so I don't really think about it, after joining moneysavingexpert.com, I'm trying to hit my debts head on and get it paid off according to the table I will have it paid off by sept 2009 but I want it done before then so I am doing thier payment a day and hopefully I will pay it off all by myself by next year.

It's my birthday soon so hopefully I will get money for that and use that towards my debts and also I am going to sell more things on ebay today :)











































































































DateTotal DebtCC (19.90%)Total DebtInterest
  BalancePayment(EOM) 
Nov 08£466.73£466.73£50.00£416.73£6.82
Dec 08£423.55£423.55£50.00£373.55£6.31
Jan 09£379.86£379.86£50.00£329.86£5.58
Feb 09£335.43£335.43£50.00£285.43£4.36
Mar 09£289.79£289.79£50.00£239.79£4.05
April 09£243.84£243.84£50.00£193.84£3.17
May 09£197.02£197.02£50.00£147.02£2.48
June 09£149.50£149.50£50.00£99.50£1.63
July 09£101.13£101.13£50.00£51.13£0.86
Aug 09£51.99£51.99£50.00£1.99£0.03
Sep 09£2.03£2.03£2.03£0.00£0.00

3 comments:

  1. It's so good that you're taking responsibility for your money problems...I know so many other people would simply turn the other way and try to pretend it didn't exist...thus digging themselves into a deeper hole!

    Congratulations!

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  2. That's really not too long at all. Hopefully you can stick to it. :)

    ReplyDelete
  3. That's a pretty interesting way of figuring out how long it'll take to get things paid off - and that should be a pretty easy payment to do on a monthly basis. Hope you get it all paid off by September 2009. :)

    ReplyDelete