The 'I want it NOW!!' debt/savings thread

jenjade

what surveys do you do lilmiss?

i just phoned a friend and we are going out tonight for a few drinks should be nice. i so need a haircut today!

mariagti

lilmissmup wrote: »

Nope, what channel was it on? I wonder if i can find it online

channel 4 called first cut

lilmissmup

I have loads of toluna ones to do but i can't really be bothered, takes ages to get vouchers from them, i might get to my next one and quit them.

Hace some lightspeed ones to do which i like as they pay you by paypal.

CompletelyLost

Helloo ,

Another unproductive day for me so far... I don't seem to be getting many surveys at all yet I got loads a few weeks ago. I'm 10p off being able to claim another voucher from Valued Opinions, and I've just ordered a Sainsburys voucher from Toluna.

Bored, bored, boredddd. I have stuff to do but it's all rubbish stuff like washing and cleaning :rolleyes:

mariagti

Hey where is everyone? I have started a new shiney diary today....check out my pics on post 7 ...my stash's of bargins and freebies!Sorry about the quality of photos btw!

http://forums.moneysavingexpert.com/showthread.html?t=1154947

Nichelette

Wow, that's quite a haul Maria! I only need to do another two lightspeed surveys to get a £25 argos voucher to add to my collection, I've been collecting the points for this since mid April so I'm getting quite excited. It's very sad really lol.

I have a question to ask now... I know what the obvious answer is but I'm not sure what would be better to do from a psychological point of view. As you can see from my sig I'm saving to get my car paid off. I'm targeting this first because it's the only debt I actually pay interest on, and I suppose whilst the money is in my ISA it's earning a bit of interest too. The problem I'm having though, is that because I need to save the whole amount to get rid of the debt, although I'm saving I never feel like I'm getting rid of it (though I'm paying £155 every month so in a way I am, even though it doesn't feel like it). It isn't like a credit card where I could pay some off and see the debt go down, also, as long as the money is in my ISA it feels like kind of cushion that I can use if I really need to. I had to take £50 out of it yesterday to buy smart clothes for the temp work I'm staring as I realised I didn't really dress that smartly in my old job and didn't have anything to wear on my upper body. As long as I have he ability to do this I guess the money will keep being depleated. I also have £3400 in overdrafts. Although these are interest free whenever I see my bank balance it's always negative, which I don't like for a start, and obviously I'd really like to get rid of them. I can decrease my overdraft online in £50 increments, which would leave me feeling like I've actually paid something off as I can't get at the money anymore.

So, my question is, do I keep saving to pay off the car which I'm paying interest on, or should I try and get rid of at least one of the overdrafts instead? I'm open to the suggestion that I'm being an idiot even contemplating this, but I don't really feel like I'm getting anywhere at the moment. Also, once I've got rid of (at least part) of the overdraft, once I've found a permanent job I should be able to pay the car off in a max of about 4/5 months anyway...

moneymabel

Ello all!
been out at sis's and just off out again to mates but thought I'd pop by and say hi!
Hmm nicki- difficult one,like u say paying debt with interest should come first but if you're going to spend the money you've already lost what you wld gain in not paying interest ( hope that makes sense LOL) if I were u I would pay off one overdraft, it will help u psychologically I reckon . Just my opinion tho.
Hi everyone else- impressive stash maria !!

lilmissmup

I would pay off the debts with savings but only problem with an ISA is if you remove money you can't put it back in if your over you £3600 allowance.

Nichelette

Thanks CL and Mabel, I know what the practical thing to do would be, I wish I could pay lump sums off of my car, but I guess they stop you doing that so you have to pay more interest... If I just let my car payments run their course they would end in June 2010, but that won't be happening either way. I might sleep on it and talk to my boyfriend about it when he gets back from the festival. It's a shame both of my parents are completely broke, I know they'd help me if they could afford to, then I'd be much better psychologically because I could knock money off of what I owed them and see the debt go down that way. Argh lol.

Nichelette

I didn't think about that lilmiss, though to be honest I don't think that I'd have enough money before April to fill the ISA anyway. I'm not sure of the exact amount but I think I've only put about £600-700 in my ISA this tax year.