We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Money Moral Dilemma: Who should I pay back first?
Former_MSE_Nick
Posts: 463 Forumite
This week's MoneySaver who wants advice asks...
I owe a few people money - my brother nearly £900, my grandma around £300, and I've reached my (0% interest) £1,000 overdraft limit. I've run into a bit of cash recently - £500 in fact - who should I pay back first?
I owe a few people money - my brother nearly £900, my grandma around £300, and I've reached my (0% interest) £1,000 overdraft limit. I've run into a bit of cash recently - £500 in fact - who should I pay back first?
0
Comments
-
Grandma.
Poor old biddy, living on a pension, winter fast approaching, she gets repaid first.0 -
100% straight to grandma, no second thought about it!0
-
This week's MoneySaver who wants advice asks...
I owe a few people money - my brother nearly £900, my grandma around £300, and I've reached my (0% interest) £1,000 overdraft limit. I've run into a bit of cash recently - £500 in fact - who should I pay back first?
Not enough information!
Which personal loan was taken out earlier, and how soon did this [possibly fictitious] Money-saver promise to repay each generous relative?
Is Grandma living on a state pension - or well-off, a higher rate tax payer?
Does Brother have a great career with plenty of disposable income?
Has Money-saver got a job, anything extra to put into their own overdrawn a/c this month (and how long will the 0% interest deal run for)?
..With answers to the above questions, we'll have a better chance of suggesting a fair apportionment.0 -
It depends who needs the money most. If neither brother nor grandma need it back, pay off part of the overdraft.0
-
The correct way to repay creditors when you have nothing and come into something is to divide the amount you have proportionally between all of your creditors.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Who needs it back most urgently? Or give £50 each to Granny and Brother.0
-
Don't borrow the money in the first place!0
-
Since we don't know who you have owed money to the longest. I suggest you keep £100 (you're at your overdraft limit and you don't want to go over, accrue charges and take even longer to pay your brother and gran back) and then give £200 each to your brother and gran.0
-
Pay the person who is likely to need it most. If their finances are roughly equal pay them equally, keeping £100 as a safety net for yourself.Member #14 of SKI-ers club
Words, words, they're all we have to go by!.
(Pity they are mangled by this autocorrect!)0 -
How is this a moral dilemma?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards