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Let's pay off those credit cards! Buckle your swashes!


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#1 Silverstreak

Posted 19 January 2015 - 10:11 AM

Apologies, the last thread disappeared when I closed my account, so I thought I'd start another one! Hope everyone is going well. We're still in a holding pattern at the moment, but DH will get paid $3000 soon, so that'll go off the cards.

Edited by Semelparous Sylph, 20 January 2015 - 09:18 AM.


#2 fleeting

Posted 19 January 2015 - 09:24 PM

Just sitting tight here too. We're about to head into that lovely time of year when ccr finishes and our outgoings are more than our incomings. But this should be the last 5 months we should have to do this!

#3 Silverstreak

Posted 19 January 2015 - 10:47 PM

Ooh, good stuff fleeting!

#4 eigne

Posted 20 January 2015 - 07:13 AM

I think you need to have some kind of swashbuckling reference in the title, as a nod to the old one.

#5 Suz01

Posted 20 January 2015 - 07:52 AM

SS - how come your account closed?  Silent stalker on this thread.  

I just moved my CC on interest free for 9 months.  That is the time I'm allowing myself to clear the whole lot $14,000!

#6 Silverstreak

Posted 20 January 2015 - 09:16 AM

View Postinsertnamehere, on 20 January 2015 - 07:13 AM, said:

I think you need to have some kind of swashbuckling reference in the title, as a nod to the old one.

Lol, will do!

Suz, I'll PM you! Woo hoo, interest free for nine months, that's awesome!

#7 Silverstreak

Posted 20 January 2015 - 09:19 AM

Just for you insertnamehere, I've updated the title. Ahoy me hearties!

#8 fleeting

Posted 20 January 2015 - 04:08 PM

This is pretty much the only thread I participate in and keeps me motivated. I changed my name too.

#9 Silverstreak

Posted 21 January 2015 - 05:49 PM

Hey, just worked out who you were, fleeting! I'm glad I rebooted this thread then!

No progress yet, but I get paid soon, so I'll put some more money on the cards.

#10 Silverstreak

Posted 21 January 2015 - 05:54 PM

Ooh, just checked and my pay has gone through, so I just paid $900 off DH's card.

#11 fleeting

Posted 21 January 2015 - 10:19 PM

Haha. No meaning behind my name change at at all but I thought I needed to!

Hubby is starting a new job so we're going to get a little bonus pay wise when his annual leave is cashed in...but we have to wait.

I definitely have much less debt than this time last year!

#12 =Magpie=

Posted 22 January 2015 - 01:53 AM

Hi Ladies,

I'm new to this thread but the post-Christmas/holiday crunch has me so concerned that it's time to act.

I haven't been in debt, excluding my mortgage, for years but after a 8 day holiday to NZ in December and Christmas etc I find myself with a credit card debt of about $7000.

I extended my card for the holiday, Christmas and my sons school fees but now its maxed out and the school fee bill arrived this morning. Looks like I will have to sell some of my shares to pay it, which I am quite ashamed of.

This thread just prompted me to apply for a Coles No annual fee Mastercard with 18months on balance transfers.
It was so tempting to apply for the Rewards card but I have to remember that I will NOT spend with this card, it is only in my possession as a loan payment device. May even consider cutting the thing up when it arrives to stop the temptation.

Funny thing is the Coles site says "Get your answer in 60secs" but then it said, "We can't process your request atm (not surprising at 2am) you will hear from us in 5 - 10 working days!!" Huh?

Oh well, wish me luck. And good luck to all of you too. See you soon.

#13 Silverstreak

Posted 22 January 2015 - 09:11 AM

That's great Fleeting!

Welcome Magpie, sounds like you've got a great plan! Yeah, I don't think I've received an answer in 60 seconds either!

Just paid another $670 off our cards, so that is good. Our cards are terrible at the moment though, DH needed another specific computer for his work, so that was $1200. Plus DH is going to the dentist today so by the time my payments have gone through and he has paid the dentist bill, I estimate our cards to be at $20,700!

Our business is going well though, especially considering it's usually a quiet time of year. DH has been working like a beaver and we should get paid at least $3000 soon. So when that gets paid I'll put it on the cards and they should come down to $17,700. Here's hoping for under $17,000 by March!

Oh yeah, we still haven't organised our tax yet. DH needs to do some business figures. We've all been sick and then he got busy with work, but we'd better get that organised by April! Expecting to get a bit back in supps, so that'll be good.

Good luck to everyone recovering from Christmas!

EFS

Edited by Semelparous Sylph, 22 January 2015 - 09:12 AM.


#14 Silverstreak

Posted 22 January 2015 - 09:29 AM

Hmm, I guess I should have a goal, now that it's a new year. I think I'll aim for our debt being $10,000 or less by the end of the year! That's a nice thought!

Also hoping to get into a graduate program next year, which will give me a payrise and then another payrise at the end of the program. If I don't get in, I'm still considering going full time next year, or even just upping my days to four days a week, as DS will be in a kinder program by then. We'll see how we go!

PS, I started the original thread when DS was nine months old and now he is two and a half! Here's hoping I've paid this debt off before he starts high school, lol!

#15 fleeting

Posted 22 January 2015 - 09:20 PM

I can not wait until we finish day care. Money will hopefully not be anywhere near as sparse.

47 weeks of day care fees!

#16 Super*Stace

Posted 23 January 2015 - 12:27 PM

Was wondering where that other thread went (& why I wasnt getting the daily emails anymore).My one & only credit card is currently sitting at about $8,500. It had come down a lot, but due to not working at the moment (am on call for the month of January *twiddles thumbs*), I had to use some money from it to get me from A to B (& so that my bank balance looked a little healthy). I started off doing the "52 Week Money Challenge" right at the beginning of the year...& last 3 weeks. DOH! Was doing it in reverse, so instead of starting with $1 for the first week, I transferred $52 into a seperate bank account. Hopefully, when I start back at work I'll restart it ;-) And get back into paying $100 a week onto the cc...was doing so well with that until the boss informed me that January is a slow month for blind makers :no:

Edited by Super*Stace, 23 January 2015 - 12:28 PM.


#17 Silverstreak

Posted 25 January 2015 - 07:33 PM

Good luck Super Stace!

I had a look at our cards and they're actually only $20,000 (yeah I know, only, lol), so that's better than I thought. So we should be down to $17,000 in a couple of months, as I can't foresee any large expenses in the near future. Stay away Murphy's Law!

#18 Silverstreak

Posted 07 February 2015 - 08:10 AM

Well, Murphy's Law reared its head again, had to pay a business expense that happened quickly, plus didn't factor in the cost of materials for a previous building job. All our bills and rent are up to date though. Am hoping to still put $2000 on the cards soon. Stay tuned!

EFS

Edited by Empress Nympho, 07 February 2015 - 08:10 AM.


#19 fleeting

Posted 07 February 2015 - 01:48 PM

Well until July we are down to paying minimum payments. Child care has gone up again and no more ccr means I am now working full time in a high stress job for $200 in my pocket 😕

#20 jayskette

Posted 07 February 2015 - 01:54 PM

5 MONTHS TO GO! :)

#21 fleeting

Posted 08 February 2015 - 07:27 PM

Can't wait to get through this period. Having fun being super thrifty though. Plan is not to add to credit during this time.

#22 Silverstreak

Posted 09 February 2015 - 10:01 AM

Well done Jayskette!

Hang in there Fleeting, that sounds rough!

No progress for us at the moment, hoping to put at least $1000 down next fortnight. Not a great start to the year!

#23 busymum01

Posted 10 February 2015 - 08:58 PM

I'm chipping away at ours, I read in one of previous threads about someone who just kind of empties the last of the savings account onto it, even if it's only $20 or so dollars, so I've been doing that. I pay a set amount off of it each pay and then after all the bills / savings / groceries etc is paid and it's the day before our next pay I put the remaining balance on my credit card.

Pleased to say the satisfaction of slowly paying it off (tomorrow I reach half way point) is outweighing the want to spend it!

#24 Overtherainbow

Posted 13 February 2015 - 08:54 AM

Managed to pay ours off in full but it's still a revolving debt.  If we paid both of at the low point of our pay cycle, we'd be negative in our bank account.

Sorted a plan to gradually change this.  Started using YNAB this year which has helped us plan better and see where we were leaking money.  We also chose not to go on holidays this summer and I haven't purchased any new clothing for work.

I know we can get rid of the revolving debt by the end of the year but aiming for 6 months using a bonus we're expecting.

Well done on those making headway.  These debts didn 't appear overnight and it's going to take some big changes to reverse the trend.

So happy to save the interest money each month.  It'll help us reduce the roll over debt faster.

#25 fleeting

Posted 15 February 2015 - 07:41 PM

Ugh things just keep getting worse. New car has broken down (pure bad luck according to my mechanic brother) no idea how to pay for it to be fixed as I used all my savings (or redraw on loan) to pay for it!




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