Finally getting sorted

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  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    zippygeorgeandben wrote: »
    Cut that credit card up! Nearly every post says that you still haven't used it so get rid of it! Zero temptation there! :)

    Hi. I know i need to but until I have my emergency fund a bit bigger it feels safer to keep it. It's buried in a box under the bed and would be a pest to get to. Hopefully next payday will make the emergency fund £1000 and I will be able to start putting an extra £250 towards paying the card.
  • zippygeorgeandben
    zippygeorgeandben Posts: 1,273 Forumite
    Name Dropper First Anniversary First Post Debt-free and Proud!
    Buried in a box! Brilliant Sounds like you have a plan, good for you.
    Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS
  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    Well it's all gone wrong. So much for having a plan. Had to get £10 from the hole in the wall as ended up with a gap between patients and was in need of a wee so had to go to McDonald's and got a coke to drink whilst I wasted 45 mins. Paid another £10 off the credit card. Have £9 in my purse and want that to last me until I get petrol Thursday. It should be ok as I don't need anything.

    Trying to work my money out and once all the debts paid I could be saving nearly £1000 a month. Once the emergency fund/ if needed account is up to £1000 I will start using what I had been paying into that to the credit card.

    Once the credit cards gone I plan on overpaying the loan and trying to save 6 months of bills money should the worse happen
  • Drawingaline
    Drawingaline Posts: 2,941 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Sounds like it is all working, even if it is slow going.

    I also like to see my big loan go under the next thousand, this month will see it below 3k, I am super excited!
    Debt free Feb 2021 🎉
  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    Morning. Not had much to say. All direct debits went out yesterday and loan payment came out. Loan went down to £8756.75 so paid off the extra £6.75 to make it a round number. Still waiting to get my credit card bill says it's due today but isn't online yet. Hopefully br there tomorrow.
    Not spent anything since Sunday so there's one advantage to working all these hours. Am so tired but it's my day off tomorrow. Can't see me doing much other than lounging around so hopefully another no spend day.
  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    Waiting for the credit card to update so I can make this months payment but it's not come yet so I guess it will be Monday now.

    I've had an idea but could really do with some opinions if anyone's reading this. I can take repayment holidays on my loan. I'm wondering if it's worth asking for one in April then using the £270 to pay off the credit card and hopefully pay £500 off in total. I'm not sure if this is worth doing so could really use your opinion
  • monz
    monz Posts: 4,129 Forumite
    First Anniversary First Post Debt-free and Proud! Stoptober Survivor
    What do you mean repayment?
    Debt (1/9/14) £6,702.11 Debt free (30/11/2016) mortgage port- £70,077.82 and mortgage £126,517.39 o/s currently
    Debt - £17,190.83 (29/7/22) now (19/8/22) £16,688.80
  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    monz wrote: »
    What do you mean repayment?

    I can take a month of off repaying the loan
  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    Just had an email from work they are giving us a pay rise in April and also in April I have been there 15 months so I get a raise meaning my pay goes up by nearly a £1 an hour. It doesn't seem huge but if I've worked it out right after tax etc I should be nearly £100 a month better off.

    Roll on may payday :rotfl:
  • debtfreeme2015
    debtfreeme2015 Posts: 269 Forumite
    First Anniversary
    Credit card bill came today. Another month with no spending on it but interest was added at £40.48 and minimum payment was £78. I paid £140.48 so new balance is £3100.

    The loan had £36.63 interest added so I've overpaid a little bit to make it a round £8750. Probably won't pay anymore of the loan now until next payday. Would be nice if I could get the credit card down to £3000 but not very likely to happen. As long as I don't spend on it it should keep heading in the right direction

    We are meant to be getting a pay rise in may which if I've worked it out right will give me another £100 a month ( figure seems way to high so must have worked it out wrong) but it will all go towards the credit card
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