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My State of Affairs
Comments
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angel31572 wrote:Post as many as you like!angel31572 wrote:Union Fees: £11
Speak to your union. I'd be surprised if they don't have a financial advice service who can help you, especially when it comes to working out a better deal on your credit cards.angel31572 wrote:Sky/Setanta: £52
When's the earliest you can junk these?0 -
Didn't think about the union..thanks for that.
Earliest I can ditch Sky and Gym are Ugust and November.
I think I will probably annoy people when I say this but I think i have enough money to pay things..it is the fact that the balance isn't going down which is so frustrating and pointless.0 -
my two penny worth
first i would really encourage you to review your budget and really find out where your money really goes...and no, i'm not going to suggest a single cut at all but rather to find out all the things you spend on.
unless you actually know where the money goes its very difficult to control it.
start a spending diary and write down everything you spend for a month or so.
also look at all the annual/ on-offs you spend and incorporate these in the monthly budget by dividing by 12 and actually saving this amount in a saving account each month so when you need the money you actually have it saved rather than reach for the credit card
so :
you spend 100 on food for a 16 year old boy and yourself? are you really sure about that.. its amazingly low to me.
nothing in your budget for haircuts, socialising, clothes, xmas, presents, holidays, ... do you pay car tax, insurance, AA, servicing etc? any dental medical optical, pocket money
now i know you will say much of that comes out of the 150 miscellaneous ..but does it really? find out and break down this item into the component parts.
next the debts
I can't understand the loan situation.. might be fine but it does seems right
could you say for the current loan
original loan amount, monthly payment (180?) and total number of payment and how many left to pay and APR if you know it?
i ask because it looks as if to refinance 6,500 of credit cards only increases the monthly payment by 180 over 36 months which looks like about 3% interest which seems unlikely. (although it does extend the original loan over this period too)0 -
Ouch! That made my head hurt....:D It seems I have been my usual dumb-!!! self and have not got my figures right. Will have to check the loan details. I think I just want it to be right....:(0
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no i didn't say you were wrong but merely that there is not quite enough information to understand it all... take your time you've had a pretty stressful day.0
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angel31572 wrote: »I think I will probably annoy people when I say this but I think i have enough money to pay things..it is the fact that the balance isn't going down which is so frustrating and pointless.
You've answered your own question here toots, your balance is not going down as your spending too much money for what you earn. If you spent less you'd be able to pay off more and your balance would go down.
I know it's not easy to give up on the things you like BUT please remember that everyone on this site who offers advice is talking from experience. When I signed up I did not want to let go of sky or the gym etc but after thinking it through I did it. I even cancelled my tv license for five months too! I understand your tied into a contract but you are able to reduce it during this time. If the sports and things are for your son remember that he is old enough to understand money worries, plus watching football distracts from studies!0 -
Hi there
I have read several posts on here, where people have phoned up sky and asked for their package to be reduced to the minimum. This would save you a bit of money.
The £150 misc spend a month is this all for school activities? It might be an idea to keep a spending diary for a month to see where all your money is going. For example if you had a £2.50 starbucks a day, then this works out at over £40 a month! Not that I have of course!:rolleyes:
Have you checked recently that all of your utilities and insurances are the cheapest? If you go via https://www.quidco.com if you need to change, then you can get cash back on the deal, which could go towards a debt.
hope this helps
chevI want a job that is less than an hour driving away from my house! Are you listening universe?
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Thanks guys. Yes, I have had a stressful day. We buried my uncle this morning and I am drained.
You are all talking sense and, it may not seem like it but I am listening.0 -
Then give your self a break tonight, and have another look at the thread tomorrow when you are less drained
chevI want a job that is less than an hour driving away from my house! Are you listening universe?
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Can I ask this first...
If I decided not to take the loan and just tackle the credit cards, what is the best way to go about it?
Should I attack one at a time? it 's just that when the interest for one month is around a hundred pounds or more on just one card, I can't see how I could make a dent...
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