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  • FIRST POST
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 22nd Dec 17, 3:48 PM
    • 208Posts
    • 665Thanks
    CoffeeCakeYarn
    Coffee, Cake, Yarn - New Start
    • #1
    • 22nd Dec 17, 3:48 PM
    Coffee, Cake, Yarn - New Start 22nd Dec 17 at 3:48 PM
    I've decided to edit this after a mess up of the figures. To cut a long story short I've been here before, paid off a lot, lived happily ever after, split with the ex, fell ill, and got myself in a pickle again. So here I am, new username, new diary, new dreams. Upfront warning, I over post

    I'm a thirty something (cough) single-ish-ton who is determined that I won't hit 35 in debt. I will hit 35 travelling somewhere hot, pretty and PAID FOR IN CASH. Hobbies include Gin, Gym, Cake, Craft. Welcome, thanks for looking in!

    My total debt is £26218.58.

    My first focus is MBNA which started at £2385

    My pots only include a fun pot and an emergency pot right now, in March a wee little payrise is coming, all the pots will happen then and budgeting can start properly. At that point I'll do a proper SOA for you all to see, in the mean time it's just a mission to earn as much extra as I can, and use the CC as little as possible (so far so good, nothing since early December!)



    Pull up a pew, I'm in for a long ride...

    Last edited by CoffeeCakeYarn; 16-02-2018 at 10:31 AM.
Page 12
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 11:34 AM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Thanks, Drawingaline, you are very right. I'd have just said yes, spent, not even thought about vouchers, had no idea how much I spent, and paid the minimum payment at the end of the month. It's not the end of the world, I'll still be making a nice inroad on the debt this month. Even if I earn nothing extra I'll still be paying off £375 over and above the spend. Not all doom and gloom, not even really a bump, just a teeny little detour.

    Had a case opened on ebay to the tune of £7 for item not received. Le sigh. No point in arguing the toss, may as well just refund it. Pants.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • rexelpink
    • By rexelpink 6th Feb 18, 12:03 PM
    • 209 Posts
    • 493 Thanks
    rexelpink
    Sounds like a fab break Coffee, glad you enjoyed yourself and feel more refreshed now. You've done so well, a small treat every now and again wont hurt. As long as you keep it to every now and again [stern face]!!


    Seriously though, Drawing is right, think about how you would have handled this a few months ago. Its all about changing habits which you are doing.


    Loving the signature, great idea for the spend the fun challenge. Will be cheering you along. x
    Staring debt - June 2013 - £21,000
    Current debt - February 2018 - £11,378.60

    Emergency fund £500 / 100%

    Debt free one day at a time
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 12:17 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Stern Face and Slapped Wrists It won't be a regular thing. I'm not going to do it again, any fun spends now have to come out of the fun pot cash. I know I won't be staying in like a hermit for the next 4 years, and I'm okay with that, I have to look after my mental health as well as my finances and that means there will be fun spends, but...

    I don't want to use the CC to pay for ANYTHING ever again, it was just poor timing that this happened with not really enough time to save the amount I needed, I did pay quite a bit in cash, and I still spent less in total than a week in the sun would have been. It's just weird trying to justify it and accept it in my head, I seem to be quite big on self punishment since this LBM, and think I don't deserve to spend, have fun, relax and enjoy life. But chipping away at the pay back the fun spend, it's not going too bad so far at all That really helps in my head.

    I CAN NOT find any motivation again today. My fuzzy head is back, the office is stuffy and annoying, the meeting has been pushed back to this avo, and I've just spent money on crusty rolls and ham for lunch because I can't face the salad from home. Wondering if it's just post holiday blues or a virus or something.
    Last edited by CoffeeCakeYarn; 06-02-2018 at 12:36 PM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • Mahsroh
    • By Mahsroh 6th Feb 18, 2:54 PM
    • 305 Posts
    • 265 Thanks
    Mahsroh
    I don't want to use the CC to pay for ANYTHING ever again, it was just poor timing that this happened with not really enough time to save the amount I needed.
    Originally posted by CoffeeCakeYarn

    This exactly where I'm trying to get myself. Have a few months of pain and clear as much of the CC debt as I can, but save at the same time, to prevent the need to use the cards! I don't ever want to use my credit cards again and the only way I can achieve that is to have cash in the bank. In the past i've gone through spells where i've tried to clear credit card debt and lumped every spare penny onto them to get the debt down, but then i've had a bad month (either over-indulging or car/house issues that i've had to pay for) and boom, out comes the credit card and I'm back to square one! That's where I'm trying to do things differently this time!
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 4:28 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Me too! And the reality is I will spend some money on eating out and fun days and stuff, and of course the emergencies, but I just need to get to a point where I have actual cash to do so. And if this means that not every single penny is going into repayments so be it, because I know that as soon as I think 'I'll just stick it on the CC', then it will spiral. So glad it hasn't this time, I've stayed completely in control, and the CC is back in the draw at home, but still it did give me a little boot up the bum to think I don't want to do this again.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • joeyjimbles
    • By joeyjimbles 6th Feb 18, 6:01 PM
    • 1,520 Posts
    • 8,227 Thanks
    joeyjimbles
    There are a lot of bugs around at the moment, so listen to your body/head and be kind to yourself. Cosy bath, pjs and a book are all MSE and soothe body and soul.
    I had a week-ish off doing surveys cos I just wasn't in the mood, and then today it clicked and I've done every site going several times over, so I'm waiting on £15 clearing on e-rewards which will take me to almost £50. Usually I do a bit of everything every day but some RL stuff was taking it's toll and frankly I just couldn't be bothered.
    We had snow and it was beautiful for a few hours - now we have icy slushy mess so I'm heading for a bath with my library copy of Agatha Raisin (I know but I'm not in the mood for anything highbrow) whilst the YS beef and YS chorizo blip away in the slow cooker with the YS red peppers and the reduced dented tins of white beans.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 6:19 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Ahhh joey! You're such an inspiration. When are you going to start a diary I hope the RL stuff is okay and all is well in the land of joeyj! Nothing at all wrong with your choice of reading, all I read is girly trash! For me it's relaxation, I don't want to work hard when reading a book. And yes, I totally understand the survey burn out. I've been there, I can't even look at swagbucks anymore. You do so much and so well though, huge well done!

    I had the motivation for the surveys today just not the RL stuff. I've given myself some extra pasta with the dinner tonight and plan on bath again like last night. Jealous of your snow, we had a two second flurry then nothing. It's blinking freezing here though! Enjoy the bath xx
    Last edited by CoffeeCakeYarn; 07-02-2018 at 10:05 AM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 6:21 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Also, YS chorizo?!?! I'm green over here! What times dinner I'm coming over!
    Last edited by CoffeeCakeYarn; 07-02-2018 at 10:05 AM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • joeyjimbles
    • By joeyjimbles 6th Feb 18, 6:45 PM
    • 1,520 Posts
    • 8,227 Thanks
    joeyjimbles
    I'm sure my diary would be deadly dull and I have shortfalls in my budget rather than debts as such - emergency funds and regular savings are in place but also DS1 at uni and some other things that I like to challenge myself to achieve from extra funds. Most of what I share is only what I've gleaned from the masterminds on these diaries and the Old School thread. I now love Stardrops and haven't bought anything other than toilet cleaner since I found out about it.
    I was astounded at the YS chorizo - it was in Morries between Christmas and New Year and there was so much of if at 30p/loop that I bought 10 and still left basket fulls for other people. What is more mind boggling is that it's use-by date (which isn't something that ever unduly concerns me unless it smells awful/is green and-or furry/isn't safe to contemplate) is April 2020. We love chorizo in our house and it goes into so many dishes, though I do sub smoked paprika for the same flavour and less calories/expense if I don't have any.
    Got to share a "tapas 'recipe'" - remove the stalk from a mushroom and replace with a nugget of chorizo, repeat til you have as many as you need, place in a dish and cover, microwave 1 minute and then check and repeat in 30 second bursts until mushroom is tender.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 7:22 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    I'm drooling... stop....

    That's a crazy good find!!!
    Last edited by CoffeeCakeYarn; 07-02-2018 at 10:06 AM.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • redofromstart
    • By redofromstart 6th Feb 18, 7:35 PM
    • 1,122 Posts
    • 6,842 Thanks
    redofromstart
    ooh yum to the mushroom/chorizo thing. I'm sure your diary wouldn't be dull with suggestions like that.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 6th Feb 18, 8:15 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    I agree redo! I think we should start campaigning to get joey to start a diary!!
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 9:27 AM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Morning all,

    Been reading through some threads today which has given me a bit of a quandary. It's maybe not a right now quandary but it's something I'd like to get some advice on if possible.

    My target debt is MBNA which has 0% until November. If everything goes to plan I *should* be able to pay it off by then, but I'm not panicking if I don't. At worst there will be less than £100 on it, and if there's more I'm pretty confident I will be able to balance transfer, but I will look at the figures closer to the time.

    My plan was to then move on to CC number two which has about 30 months 0%.

    However....

    I've just read a thread about loan interest, stating that if a loan is paid off early then interest rates are not fixed and you pay less interest. I currently have a loan at 7.9% with around £9600 left on it. Here's the question. I'm eligible (90%) for a 0% cash transfer CC. Should I take it, use as much as I can to pay off as much of the loan as possible and tart when the time comes? The loan is the only thing I'm paying interest on at the moment, and is not due to finish until Jan 2020.

    Any thoughts?
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • Treadingonplaymobil
    • By Treadingonplaymobil 7th Feb 18, 9:55 AM
    • 1,292 Posts
    • 12,624 Thanks
    Treadingonplaymobil
    Morning all,

    Been reading through some threads today which has given me a bit of a quandary. It's maybe not a right now quandary but it's something I'd like to get some advice on if possible.

    My target debt is MBNA which has 0% until November. If everything goes to plan I *should* be able to pay it off by then, but I'm not panicking if I don't. At worst there will be less than £100 on it, and if there's more I'm pretty confident I will be able to balance transfer, but I will look at the figures closer to the time.

    My plan was to then move on to CC number two which has about 30 months 0%.

    However....

    I've just read a thread about loan interest, stating that if a loan is paid off early then interest rates are not fixed and you pay less interest. I currently have a loan at 7.9% with around £9600 left on it. Here's the question. I'm eligible (90%) for a 0% cash transfer CC. Should I take it, use as much as I can to pay off as much of the loan as possible and tart when the time comes? The loan is the only thing I'm paying interest on at the moment, and is not due to finish until Jan 2020.

    Any thoughts?
    Originally posted by CoffeeCakeYarn
    Hmmm. My initial thought was 'yay, go for it' but what if you do it, then one or more of your 0% transfer periods ends without the card in question being paid off, and you can't get a new 0% deal because you have some much on CCs? Is that likely? Others who know more than me will advise more sensibly.

    Somewhat unrelated, I am also with everyone who said about never spending on CCs again. We just cannot trust ourselves with a CC, no matter how disciplined I think we will be.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 4th Jan 2018: £35,536.09/July 2026

    Mortgage = £193,995
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 10:00 AM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Well, I mean the plan would be to not accrue more debt, only to pay off what I have, so in theory I should become more attractive to lenders for a balance transfer than less. Everything is showing as 'excellent' and 'affordable' currently on the credit file thingy, so unless a significant change in circs happened then in theory I should only become more appealing? I think, I don't know.. this is why I needed your input

    The CC with the cash transfer would be used in the same way as the MBNA is currently, i.e. CUT UP AND NOT USED. I'm confident I wouldn't be accruing more debt (over and above the initial transfer fee) by doing this, but I just can't work out in my head if it's the right decision. I've never dealt with loans before. I need a proper adult
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • joeyjimbles
    • By joeyjimbles 7th Feb 18, 10:01 AM
    • 1,520 Posts
    • 8,227 Thanks
    joeyjimbles
    Thanks, I'm flattered but I don't think so yet - not unless I get really serious about the mortgage overpayments and I'm not there yet.
    And you're welcome for the mushrooms - can't remember where I got the suggestion from, it's hardly a recipe and probably totally inauthentic but it's so easy and tastes great.
    Not all loans are the same - has yours has been frontloaded so you are paying off interest first? Are there any penalties, probably some but are they big enough to offset any gains from paying off the loan early. Oh, and how much would the balance transfer fee cost? So if you add up all the costs would it be worth it - probably the answer will still be yes but at least you'll know what it will cost to do it. Paying less interest is typically always preferable to paying some interest obviously but just be best to look out the info on your particular loan, or call them up if you can't find it.
    Incidentally the stew was lovely and there are 4 portions in the freezer. Something with the frozen haddock that's been lurking in the freezer since before Christmas tonight - I often do a tomato, red pepper and olive sauce and steam it on top of that but it's too similar to what we ate last night so will have to have a trawl through the cookery books.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 10:12 AM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Honestly, I have no idea if the loan is frontloaded. It's with Zopa, I'm going to log in and have a dig to see if I can find any information on it. I do know there are no penalties and charges for early and/or overpayments, I already made one lump overpayment which then meant a readjustment of monthly payments, starting with a lower one before rising again, which makes me think that was an interest adjustment and it's not frontloaded.

    2.7% fee on cash transfer.

    The stew sounded lovely, I've got a freezer lurker for dinner tonight. I'm pretty confident its either spag bol or curry. I'm kinda hoping it's a curry or that will be spag bol three nights in a row, groundhog day haha. I don't mind though, it's cheap, cheerful and yummy, so I'm happy to eat it 3/4 times a week!
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 10:26 AM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    Found this...

    What happens if I make an extra repayment?
    • Making an extra repayment towards your loan reduces the outstanding balance to be paid off - which reduces the total amount of interest you'll pay.


    So not frontloaded I would assume?
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • joeyjimbles
    • By joeyjimbles 7th Feb 18, 11:20 AM
    • 1,520 Posts
    • 8,227 Thanks
    joeyjimbles
    Well that seems positive. When you made the additional payment, did it do anything to the length of time you have to pay it off? If you are planning on getting it all paid off sooner then that might not be an issue but there might be a final payment that you have to make to get out of the agreement.

    I don't have any loans but OH took one for the car which we paid off years early and we had to apply to them for the final figure which was a little more than it appeared on paper - something to do with interest, I can't remember exactly. Would hate you to get caught out when it's so simple to ask at this stage.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 7th Feb 18, 12:02 PM
    • 208 Posts
    • 665 Thanks
    CoffeeCakeYarn
    It didn't change the length of agreement, it just lowered the monthly repayments, the first month significantly - for example

    Lump Payment - £2000
    01/01 - £320
    01/02 - £380
    01/03 - £380

    So I imagine the lowest payment was the interest readjustment? I know for sure there is defo no penalties or fees for repaying early at all. I quadruple checked it when I took it out.

    I was planning on just letting the loan run its course for now, but overpaying when I had cleared the CC's. However as it's the only debt I'm paying interest on now it made me think about the CC cash transfer facility, and the possibility of shifting the loan, or some of it at least, onto 0%.
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
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