No more borrowing from Peter to pay Paul.
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poohbear59
Posts: 4,866 Forumite
My husband and I today decided that we are going to tackle a new debt head on. Earlier this year we had an unexpected expense which we had to pay with a credit builder credit card. We have had the card for over a year and the interest rate has reduced. The interest rate is 34.9%. And our debt is £4650. More than we both realised.
After paying off a huge amount of debt in the last five years I feel ashamed to have accrued this new debt so quickly. But that makes me all the more determined to pay it off as soon as possible.
I made a mistake in accepting a deal with Wowcher to sell our holiday cottage over the winter. It has been a nightmare and has left us about £3000 out of pocket. Because of this I used personal credit to pay business debt. It has been a steep learning curve. And a mistake I won't be making again.
So the plan is to sell unwanted and unused items from around the house first, or at least to get them listed online. Next is to find free things to do. Cut fuel costs, both in the house and the car.
I am going to go through all of our direct debits and weed out those insurance payments etc. that we really don't need. Today I found one for Cumbria wildlife. Sorry but that one is going.
Tomorrow is a new day.
After paying off a huge amount of debt in the last five years I feel ashamed to have accrued this new debt so quickly. But that makes me all the more determined to pay it off as soon as possible.
I made a mistake in accepting a deal with Wowcher to sell our holiday cottage over the winter. It has been a nightmare and has left us about £3000 out of pocket. Because of this I used personal credit to pay business debt. It has been a steep learning curve. And a mistake I won't be making again.
So the plan is to sell unwanted and unused items from around the house first, or at least to get them listed online. Next is to find free things to do. Cut fuel costs, both in the house and the car.
I am going to go through all of our direct debits and weed out those insurance payments etc. that we really don't need. Today I found one for Cumbria wildlife. Sorry but that one is going.
Tomorrow is a new day.
business mortgage £0))''(+ Barclay's business kitchen loan £0=Total paid off was £96105 PPI claimed and received £13527
'I had a black dog, his name was depression".
'I had a black dog, his name was depression".
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Happy shiny new diary
Tomorrow is indeed a new day.
Keep plodding my friend xx I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Good luck with it all Pooh." Your vibe attracts your tribe":D
Debt neutral 27/03/17 from £40k:eek: in the hole 2012.
Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
RYSAW17 £1900 2016 £2,535.16 2015 £1027.200 -
Best of luck Pooh!Must use my stash up!0
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Today I have made a pledge to carry out at least two money saving actions each day. I have been here before so I know what I have to do.
So, I have;
Cancelled the £5 a month payment to Cumbria wildlife.
Reduced one insurance policy by £19 per year.
Negotiated three electrical policies onto one so reduced by £7 per month
Booked car into local guy for new brakes as main dealer is nearly three times the price.
£12 per month saving so far...
ETA listed an item on ebaybusiness mortgage £0))''(+ Barclay's business kitchen loan £0=Total paid off was £96105 PPI claimed and received £13527
'I had a black dog, his name was depression".0 -
Great start I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Great stuff! You can do it x0
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Go pooh go
MFiT-T4 Member No. 96 - 2022 is my MF goal
Winter 17/18 Savings Rate Goal: 25% [October 30%] :T
Declutter 60 items before 31.03.18 9/60 ** LSDs Target 10 for March 03/10 **AFDs 10/15 ** Sales/TCB Target 2018 £25/£500 NSDs Target 10 for March 02/10 Trying to be a Frugalista:rotfl::T0 -
Great start Pooh. Not good about Wowcher leaving you out of pocket
. Xx Debts @ LBM £23,729.31. Debts @ 08/04/2016 £0 :j
Best win so far - holiday to Florida0 -
please-let-me-be-lucky wrote: »Great start Pooh. Not good about Wowcher leaving you out of pocket. Xx I know , pure robbery and also contravening trading standards laws too. But that is another story....:)
Today our car was serviced by a mains dealer. We took out an monthly plan when I lost my motability car. I asked them to do nothing extra today, just the service. We already knew the brakes need new pads and discs. The main dealer quoted £250 but a local man is doing it for us for £125, proper garage which we trust completely. Other job that needed doing was a new rear wiper. We went to local motor factors and got it for £8, not sure how much that saved us.
Next we went to the cobblers to get my favourite boots repaired. New ones from Clarks are £150 for similar ones so the £15 I paid to have them reheeled and the sole stuck back on is a bargain.
Mr P is staying in to save money. He always goes out on a Friday night. He doesn't go out for long but spends maybe £20 on a Friday. As a treat for the weekend he has a bottle of red wine and I have a bottle of slimline tonic.
Apart from buying some chicken breasts and chopped tomatoes we haven't spent on food this week and are planning all our meals around what we have here in cupboards and the freezers. I am going to rejoin the grocery challenge, today.
I rang Sky and got our subscription reduced by £30 and will also remove some of the extras as soon as weather improves. We do like to hunker down with a movie on winter evenings. Looking into other movie options, we tried prime a while ago,but weren't so keen on the range of movies available to us.
I feel as though I am on a roll....and enjoying being back.business mortgage £0))''(+ Barclay's business kitchen loan £0=Total paid off was £96105 PPI claimed and received £13527
'I had a black dog, his name was depression".0
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