It’s my favourite time of the month again as I get to report back on how the hubby and I have been getting on with repaying our debts. We haven’t paid as much off this month as we did in the last two months, but we’re feeling really positive about our progress because at the end of the day, it’s going the right way!
During the month of September, we paid £872.50 off our total debts. This includes our minimum payments and an extra payment onto my credit card. I did however get charged interest this month on my credit card balance as the 0% interest deal I had going on expired.
I’ve decided I’m still going to stick with this credit card and not swap the balance over to another card because I’ll only be paying this for a few more months (at least I hope so)! If I moved the balance elsewhere, I’d have to pay a balance transfer fee which I think would be more than the interest on my current credit card. Looking at the estimated interest due next month, it’s decreasing rapidly anyway.
Anyway, taking the interest charge into account, the actual debt repayment this month was £857.
And now for the big picture figures!
Last month, our debt total was £37,033.73 and this month, it’s now a total of £36,177.12. I really wanted to get our debt under £36K this month but it wasn’t to be as we had a quite a few extra things to pay out for plus I slipped a little with our budget – more on that later! Next month though, it definitely will be under £36K! Our running total amount that we’ve paid back since the start of our journey (from January) is £5312.49. That’s 12.8%!
My original goal still stands – that is to clear my personal credit card by Christmas, the balance at the moment is £2201. I’m not sure if I’m going to be able to achieve this but I’m going to give it my all! The only way I will be able to achieve this is if I somehow earn some extra income. Selling on eBay is one thing, but I need to sort out something a bit more regular. I’m considering freelance writing if I can get any work and a couple of other avenues but ultimately, it’s a case of thinking about what I can fit in around my day job and looking after my daughter. And it’s got to be something that I actually have the skills to do!
38 Comments
You’ve definitely come a long way with your debt repayment…congrats, keep chugging away at it and you’ll more than hit your christmas target! Am sure with your dedication you’ll find something to up your income. All the best.
Simon @ Modest Money recently posted…EverBank Review – Exclusive Review of EverBank Online Banking
Thanks Simon! I really appreciate your support.
It will be a mission and a half to achieve that goal but I like setting goals that are slightly out of reach. It makes me want it more and try even harder!
Awesome job on your debt repayment! At that rate, you should be debt free in no time! =)
Holly@ClubThrifty recently posted…Three Habits of High Performers
Thanks Holly! I hope so. I’m so looking forward to the day when I become debt free soooooo much. I don’t know when it will be but each day, I guess it’s getting closer!
You’re making good progress! I think selling stuff online is good to make a little extra…I’ve done that as well. Although you’re right that the income is not that consistent. Good luck. I’m confident you will meet your Christmas goal.
Andrew@LivingRichCheaply recently posted…Monday Update and Roundup
Thanks Andrew! I really want to meet that goal – it’s so important to me. I’ve just got to work very hard!
That’s great news. I’m happy for you guys and I’m crossing my fingers that you can knock out the personal debt by the end of the year.
Done by Forty recently posted…How Should FIRE Timeline Affect Asset Allocation?
Thanks so much Done by Forty! I really appreciate your support as always – your comments just spur me on that bit more!
Congrats on your debt repayment! I really do hope you can pay off your personal debt by Christmas! What a great gift that is to yourself! This wasn’t a great month for me financially, so I’m hoping Oct will be better.
Budget and the Beach recently posted…Invest in my future or Save! Save! Save!?
It would be the best Christmas present ever! I think I would even have a glass of wine to celebrate!
I’m sure next month will pick up for you Tonya, looking forward to reading your progress.
You are doing great! Get that personal card done by Xmas and you’ll be golden. You are right, as long as you are heading in the right direction, it’s progress.
Dear Debt recently posted…Falling Behind
If I can achieve getting rid of that card by Christmas, I would be soooo happy. It’s going to take a lot of side hustling and I don’t have long to do it! Thanks so much for your support!
You are doing great!
Michelle recently posted…Things That I Do To Save Money
Thanks Michelle! I’m looking forward to reading your next extra income update which will inspire me again I’m sure!
I LOVE how positive you always are in your debt repayment updates Hayley!
You totally have the right attitude to pay off that personal credit card by Christmas time! I also think you could do quite well as a freelancer since you have this wonderful way of writing that is a pleasure to read.
Girl Meets Debt recently posted…Peer Pressured to Donate at Work
Thanks GMD!
I’m feeling really positive right now. Paying back just over £5K this year has been an amazing feeling so far. I can’t wait to get to the £10K payoff mark! Wow, that’s so nice of you to say that about my writing. I have proper goosebumps! 
xo
It’s been a pretty hectic month and October will be the same (car insurance, more business taxes etc.). I have budgeted to save quite a chunk of my ‘paycheck’, but it won’t be easy with all this stuff we need to pay now. Oh, well, maybe November will be better
dojo recently posted…Blogging: Why Does My Blog Receive too Few Comments?
It all seems to come at once doesn’t it? That happens to us in July when the car needs taxing and an MOT all in the same month. Good luck in October and hope you manage to save some of it!
Keep it up! I’m sure you’ll meet your goal of being credit card debt free!
Lisa E. @ Lisa Vs. The Loans recently posted…Links Lisa Likes – 9/30/13
Thanks Lisa! Really appreciate your support as always.
It would be the best Christmas present to be able to say I’m finally rid of that card!
This is my favourite time of the month too, and for exactly the same reason!
Well done on your payment this month, you are doing great! I have made my biggest payment so far, and I could not be happier about it. I want to do better and better each month, but I have to be realistic and make sure I enjoy my life while paying off debt, so not every month is going to be as great.
Eva @ Girl Counting Pennies recently posted…September 2013 Debt Repayment Update
Thanks Eva! I’ve just read your post and your repayment was an all time record high – amazing! I can’t wait to see how much you pay off next month especially with your ‘accommodation announcement’.
Congratulations!!!! Great work
Claire M recently posted…It’s the Eve of Obamacare – How Will Your Budget Be Affected?
Thanks so much Claire! I’ll be posting my update for the Debt Destroyer’s article soon.
You’ve made great progress! I like dropping into a new thousands place as well – makes me feel like I’m making a dent
Amanda recently posted…Goals Update: September Edition
Thanks Amanda! The next thousand down the rungs of our debt ladder are all milestones!
Don’t beat yourself up! you made amazing progress and should be really proud.
SuburbanFInance recently posted…Living in the Suburbs: The Commute
Thanks so much!
I can’t tell you how much happier I’m feeling these days with our progress so far. 
It might be difficult and you’ll have to sacrifice and work really hard for 3 months, but just think how amazing that Christmas present would be!!
Good luck!!
moneystepper recently posted…Approvedfood review – Save money on short dated products
It would be awesome wouldn’t it. I’m working on extra income at the moment. Nothing as yet but I need to get myself out there more I think!
You’re heading in the right direction. Your blog can help you get side hustles. Good luck!
Charles@gettingarichlife recently posted…Building Up My FU Money One Investment At A Time
Thanks Charles for stopping by.
My blog has already helped me so much with my motivation – who knows perhaps it could help me out in terms of side hustles too. Watch this space!
Hey Haley and congrats on getting your debt down a little more this month! You and your hubby are doing great
And I gotta agree with SuburbanFInance’s comment above…don’t fret over things too much. As long as you feel you are doing what you can to make your lives better, then that’s all you need to think about. The rest will work out in time!
Take care and all the best.
Lyle
lyle @ the Joy of Simple recently posted…On Reclaiming Dreams!!
Thanks Lyle! I really appreciate your support as always. I feel a lot happier now than I did in January, that’s for sure. The best part is being in control!
Awesome progress, Hayley.. I love your attitude, and if you can keep your spirits high– you are well on your way.
jefferson @SeeDebtRun recently posted…What Is This “Betterment Charge” That An Insurance Company Wants Me to Pay?
Thanks Jefferson – It’s funny how when you think positively, positive things do actually happen. I try to keep focused on small goals and small achievements and one day, I will overcome a bigger goal!
Great job!!! Keep on working at it and looking at all the positives and how far you’ve come!
Thanks so much Amanda, I appreciate your support and for stopping by!