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Need some advice.....
frannypops
Posts: 2 Newbie
Hi all,
Need some advice
I currently have a finace on my car and still owe about £3500 and is not due to end till 09/2014 and I owe about £3000 on my hsbc credit card , 1000 on my mbna and 600 on barclays (which is a low apr for life :j) Every month once I have paid my bills and rent im only left with £150 which I budget but always go over.
I do have some savings (dont have much in my ISA £500 but I have some in my life savings £2000) and was thinking about using it to get rid of my car payments which would free up and extra £200 a month which can go towards my credit card and then I can try and rebuild my savings.
Good idea or not.
Need some advice
I currently have a finace on my car and still owe about £3500 and is not due to end till 09/2014 and I owe about £3000 on my hsbc credit card , 1000 on my mbna and 600 on barclays (which is a low apr for life :j) Every month once I have paid my bills and rent im only left with £150 which I budget but always go over.
I do have some savings (dont have much in my ISA £500 but I have some in my life savings £2000) and was thinking about using it to get rid of my car payments which would free up and extra £200 a month which can go towards my credit card and then I can try and rebuild my savings.
Good idea or not.
0
Comments
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Depends whether they would allow you to pay it off early, a fee might be involved.
Why do you go over the £150 you budget for ?0 -
Yes if I were you i'd keepp your ISA as your emercency fund and use the £2000 to reduce car payments.
The £150 you have left, what do you use that for?
And in the rent and bills, have you included payments to creditors?0 -
Hi,
Out of the £150 I buy Diesel for the car £60 per 3 weeks, then its general spending for friends and familys bday or if my mum is a bit short. But when i go over its only by about £20.
PS I have looked at the settlement payment for the car its £3500, which i think its doable if I senseable.
Thanks for helping
0
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