October debt round-up (275-90)

Another month is already here, so how did we do in September? As of October 1st, our debts stand at:

Lloyds a/c 1: £ -1,976.51
Lloyds a/c 2: £ -1,097
Halifax a/c: £ 503.48
Capital 1 c/c: £ -4,942.46
Tesco c/c: £ -583.64
Barclaycard: £ -2,081.51
Mum’s c/c: £ -4,580
Egg loan: £0  
Student loan: £ -7,372.57 (despite repayments this will stay here till April 2010’s yearly update)
Parent loan: £ -8,850

Total debt at 1 October 2009: £ -30,980.21

So in September we paid off a measly £328.98, which is rubbish but not unexpected given our consumer blow-out at the start of the month; and at least we didn’t go in the wrong direction all together and get further into debt – towards the end of the month our willpower not to spend money (or just bail ourselves out by using a credit card) was excellent. October needs to be much better though!!! I want a big chunk paid off.

Since January 2009 we’ve paid off a total of £5,382.43; that’s 14.86% of our total debt and 30.75% of our ‘bad’ debt (debt excl student and parent loan). We’re going in the right direction but I want us to be going there much faster! 14% and 30% sound good until you calculate that at our current rate we’ll only have paid off our bad debt in 2 further years’ time, and all our debt in a massive 4 more years. Yikes. It needs to be a whole lot quicker than that!

~ by diaryofadebtor on October 2, 2009.