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  • FIRST POST
    • sassi24
    • By sassi24 8th Jul 17, 9:04 PM
    • 3Posts
    • 2Thanks
    sassi24
    what to pay
    • #1
    • 8th Jul 17, 9:04 PM
    what to pay 8th Jul 17 at 9:04 PM
    hi its my first time posting. i work ft and am trying desperately to save for a mortgage.. very unsucessfully. In the past ive had some bad fortune and honestly been irresponsible with money
    ive come into some money 6500 and not sure where to start.
    Do i put this into a savings for the deposit?
    Do i pay off debts..
    * 2100 mbna
    *2000 aqua card
    *1500 littlewoods
    * 1000 very
    * 500 CAPITAL ONE
    i currently have a loan that i pay 525pm but the settlement is 9500 so thats out of the question.
    any advice would be greatly welcome.
    my credit score is poor no negative debt just credit card utilisation
    sorry if i sound a bit naive
Page 1
    • nbinblack
    • By nbinblack 8th Jul 17, 9:45 PM
    • 93 Posts
    • 146 Thanks
    nbinblack
    • #2
    • 8th Jul 17, 9:45 PM
    • #2
    • 8th Jul 17, 9:45 PM
    Hi Sassi
    Seeing Aqua card on your list implies that your credit cards are interest bearing so any savings you keep would not be to your benefit.

    Without the knowledge of your financial status it is hard to advise but it is generally advised that debts should be cleared before savings, there is little point earning 5% on savings when your cards are costing 20%, but if you don't have an emergency fund it would be worth putting some of the money aside for emergencies to save you falling back on your cards.
    • datlex
    • By datlex 16th Jul 17, 3:02 PM
    • 1,313 Posts
    • 1,093 Thanks
    datlex
    • #3
    • 16th Jul 17, 3:02 PM
    • #3
    • 16th Jul 17, 3:02 PM
    I would put £1000 aside. Then pay off all the cards except the aqua card. Then add the payments you make to the other cards to the payment for the aqua card to get that paid off.
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