September 2013 Debt Repayment Update

September Debt Repayment UpdateIt’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!

How did you get on with your finances in September?

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Comments

    • 2

      Hayley says

      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!

    • 4

      Hayley says

      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!

    • 10

      Hayley says

      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.

    • 12

      Hayley says

      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!

  1. 15

    Girl Meets Debt says

    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 WorkMy Profile

    • 16

      Hayley says

      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

    • 18

      Hayley says

      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!

  2. 21

    Eva @ Girl Counting Pennies says

    This is my favourite time of the month too, and for exactly the same reason! :P 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 UpdateMy Profile

    • 22

      Hayley says

      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’. :)

    • 30

      Hayley says

      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!

    • 32

      Hayley says

      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!

  3. 33

    lyle @ the Joy of Simple says

    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!!My Profile

    • 34

      Hayley says

      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! :)

    • 36

      Hayley says

      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!

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