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6 hours...
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deliciosa
Posts: 744 Forumite
... and I will receive to my bank account a payment of around £1850!!!!
which is the sum of my new salary for the month of february (9 days in arrears and 21 days in advance) and my salary for the 10 extra days worked in january.
6 hours. I can't believe it.... i haven't seen this amount of money for ages... this is so huge for me...
Of this, I will have to pay only two things:
1.) Rent. Its £400 for March.
2.) plane ticket about £105.
That's it. All the rest I can pay to my cards and spend. Its about £1250. So my question is, which plan to follow??
(gosh I have been waiting for this day for 4 months now, since I have been promised the new contract)
PLAN A.
Put about £500 aside on savings account in case of emergencies
Put about £300 aside to spend.
Pay about £50 to M&S card
Pay £400 to HSBC card.
(Amex is not an option now as I will put the Spending money on it anyway, and then spend on it, so that I earn BA points...)
PLAN B
Pay £400 to HSBC card
Pay £50 to M&S
Pay £800 ish to American express, reducing the balance to £300, and then spend on it as the month go, with a maximum budget of £300 so that the maximum outstanding on it will be £600 by the 9th of March.
What do you suggest?
I can't believe I am finally getting out of it... :j :j :j :j
which is the sum of my new salary for the month of february (9 days in arrears and 21 days in advance) and my salary for the 10 extra days worked in january.
6 hours. I can't believe it.... i haven't seen this amount of money for ages... this is so huge for me...
Of this, I will have to pay only two things:
1.) Rent. Its £400 for March.
2.) plane ticket about £105.
That's it. All the rest I can pay to my cards and spend. Its about £1250. So my question is, which plan to follow??
(gosh I have been waiting for this day for 4 months now, since I have been promised the new contract)
PLAN A.
Put about £500 aside on savings account in case of emergencies
Put about £300 aside to spend.
Pay about £50 to M&S card
Pay £400 to HSBC card.
(Amex is not an option now as I will put the Spending money on it anyway, and then spend on it, so that I earn BA points...)
PLAN B
Pay £400 to HSBC card
Pay £50 to M&S
Pay £800 ish to American express, reducing the balance to £300, and then spend on it as the month go, with a maximum budget of £300 so that the maximum outstanding on it will be £600 by the 9th of March.
What do you suggest?
I can't believe I am finally getting out of it... :j :j :j :j
Total debt £3625.07. 
Goals: 1.) DFD December 2008 (snowball) / October 2008 (me:o ) 2.) Salary £30kpa (currently £26450pa) 3.) Slim down to 55kg (currently 68kg
) 4.) Start stoozing :j
I do not NEED that DVD Tough love club Member #1
Goals: 1.) DFD December 2008 (snowball) / October 2008 (me:o ) 2.) Salary £30kpa (currently £26450pa) 3.) Slim down to 55kg (currently 68kg
) 4.) Start stoozing :j I do not NEED that DVD Tough love club Member #1
Plan A or Plan B? 39 votes
PLAN A - leave something on savings
15%
6 votes
PLAN B - pay off as much as I can
84%
33 votes
0
Comments
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I just added a poll to this - please vote if you don't have time or not in the mood to write!!!Total debt £3625.07.
Goals: 1.) DFD December 2008 (snowball) / October 2008 (me:o ) 2.) Salary £30kpa (currently £26450pa) 3.) Slim down to 55kg (currently 68kg ) 4.) Start stoozing :j
I do not NEED that DVD Tough love club Member #10 -
I'd say pay it off the debts because you're paying interest on themNo longer using this account for new posts from 20130
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is there any way you can transfer the credit card debt to a 0% card? otherwise you want to pay off the highest interest rate first. There is no point getting 5% interest in a savings account if you are paying 19% on a CC better off paying it and stop the interest adding up.Official DFW Nerd Club - Member no. 234 Proud to be dealing with my debts I love the Dave Ramsey podcasts. Debt Free Date (including house) Aug 2012 Live on £4000 a year the short version £918 for 29/09/08 - 01/01/09 spent £0 NSD's In October Target 10 Actual 0 Quit smoking 25/09/08 saved £5 so far0
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If it was me I think I'd work out my list of outgoings, then plan how much I was going to need on a weekly basis until next payday plus 10% extra for just in case moments.
Then I'd pay off debt with the balance.:eek: What if the hokey cokey is what it's all about? :eek:Official "Bring back Mark and Lard NOW! or else (please)" Member 160 -
I can't get credit, I'm afraid - I can't get a 0% card, though this would be a dream solution...
the reason I wanted to store it on the savings account is not the interest, rather than the fact that I would have "emergency money" for the first time ever in my life...
but i also dont want to pay interest if i can avoid it. thank you for your comments, i still have about 5.5 hours to decide!!!!!Total debt £3625.07.
Goals: 1.) DFD December 2008 (snowball) / October 2008 (me:o ) 2.) Salary £30kpa (currently £26450pa) 3.) Slim down to 55kg (currently 68kg ) 4.) Start stoozing :j
I do not NEED that DVD Tough love club Member #10 -
Pay off as much as you can...it is always there to spend on your CC in ABSOLUTE emergencies!!!0
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MinnieSpender wrote:If it was me I think I'd work out my list of outgoings, then plan how much I was going to need on a weekly basis until next payday plus 10% extra for just in case moments.
Then I'd pay off debt with the balance.
yeah i might do that... not easy though!!Total debt £3625.07.
Goals: 1.) DFD December 2008 (snowball) / October 2008 (me:o ) 2.) Salary £30kpa (currently £26450pa) 3.) Slim down to 55kg (currently 68kg ) 4.) Start stoozing :j
I do not NEED that DVD Tough love club Member #10 -
I would pay off what you can from the cards but what about....
Pay £500 to American express, reducing the balance to £600
Put about £300 aside to spend.
Pay about £50 to M&S card
Pay £400 to HSBC card.
That way you wont have to put anything back onto the American express card like you would be doing if you did plan B.0 -
:eek: What if the hokey cokey is what it's all about? :eek:Official "Bring back Mark and Lard NOW! or else (please)" Member 160
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You know the answer to this hun! :rotfl:
Pay off the debts - as others have said, it's on the cards if you need some for an emergency.....
HTH,
IW xOfficial DFW Nerd Club - Member no. 222 :beer:
:T Debt free wannabe - Proud to be dealing with my debts! :T
Remember the MoneySaving mantras!
IF YOU'RE SKINT......
Do I need it? Can I afford it? Can I find it cheaper anywhere else?
IF YOU'RE NOT SKINT......
Will I use it? Is it worth it? Can I find it cheaper anywhere else?0
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