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Rate tart in rehab - update
chocolate_teapot_2
Posts: 6 Forumite
Just a quick update for anyone who read my original post in January 2017 ....
I've been trying really hard to stick to the "every spare penny" mantra and have made good progress with the credit card debt. I've had a few hiccups along the way in the form of last minute bargain holidays and concert tickets (temptations I always struggle to resist). I managed to pay for these upfront, however, without resorting to more card debt. It just meant I wasn't able to pay off quite as much as I'd hoped. But everyone has their weaknesses and you have to live a little!
In addition, being self-employed means I never have a guaranteed income so I can pay more off in some months than others.
However....
Halifax (£704), Lloyds (£1038) are now both paid off in full. MBNA was £1288, now down to £860 and reducing by £100 per month. Virgin, was £2676, now transferred to Debenhams on zero % currently stands at £1800. As this will be difficult to move when the promo rate expires in October I am prioritising this one.
I'm still paying off the car loan but it is now down to just over 5k and the payments are manageable.
My next post, hopefully before long, will be to tell you that I have finally shed the lifelong burden of credit card debt.
Keep going, fellow Wannabes, it's a hard slog but will be worth it in the end x
I've been trying really hard to stick to the "every spare penny" mantra and have made good progress with the credit card debt. I've had a few hiccups along the way in the form of last minute bargain holidays and concert tickets (temptations I always struggle to resist). I managed to pay for these upfront, however, without resorting to more card debt. It just meant I wasn't able to pay off quite as much as I'd hoped. But everyone has their weaknesses and you have to live a little!
In addition, being self-employed means I never have a guaranteed income so I can pay more off in some months than others.
However....
Halifax (£704), Lloyds (£1038) are now both paid off in full. MBNA was £1288, now down to £860 and reducing by £100 per month. Virgin, was £2676, now transferred to Debenhams on zero % currently stands at £1800. As this will be difficult to move when the promo rate expires in October I am prioritising this one.
I'm still paying off the car loan but it is now down to just over 5k and the payments are manageable.
My next post, hopefully before long, will be to tell you that I have finally shed the lifelong burden of credit card debt.
Keep going, fellow Wannabes, it's a hard slog but will be worth it in the end x
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Comments
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Sounds like fantastic progress. Well done you xxThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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