Any ideas

fanny

HI
Ia m new to this forum but after reading some of these threads i have a few questions to ask.
Firstly i am trying to get rid of my debt and im set up to be debt free by the end of 2010 but if any one has any ideas as to how to spead this up then please share them with me:D
Also what is quidco
Thanks

GeorgeUK

If you post up a statement of affairs we may be able to find some areas to make savings in. If you list all your debts with the APR's, we may also be able to advise as to the order in which to pay off your debts for the largest saving. The less you pay out in interest the better so usually you pay the minimum on all debts and throw anything left at the highest APR. Unless of course you can clear a creditcard which may allow you then to get a 0% or life of balance offer.
http://www.makesenseofcards.com/soacalc.html

Naomim

fanny wrote: »

Also what is quidco

Hi

Quidco is a cashback site. So for example, you wanted to buy something online like car insurance. You would check the comparison sites to see which is cheapest, then go to Quidco and if the insurer that was cheapest for you is registered with them, you use the link on Quidco and you can then get cashback on your purchase. It may be a small % or a fixed fee like £20 or so.

have a look at the link [EMAIL="www.quidco.com"]here[/EMAIL]

HTH

Naomi x

cady

*balance transfer if you can
*pay of what is the highest interest first
*keep a spend diary
*cut back on anything non essential
*join a challenge
*put up a SOA

fanny

i think i have most of my payments and debt under control

and i am still able to live quite comfortably i was just looking at ways to speed the process up.

I take home £1186

I pay out
£290 rent and council tax
£116 for car loan with a year and a half left
£80 credit card with 0% till feb so will need to get another 0% in feb as wont have paid it all off.
£50 to parents for money borrowed got 10 months left on that one.
£40 car insurane
£25 mobile phone
£50 savings

i have a very big overdraft and a massive student loan. i have currently set up a sepreate bank account where i transfer £450 a month to live on including petrol at £200 a month and food house hold bills ete. this leaves the rest of my wages in the massive overdraft account with extra so im slowly paying off between 70-100 a month off of the overdraft. so i feel like a ihave a good handle on it just wish i could speed up the process. I also do avon but dont make much monye of that.
The Quidco sounds like a good idea will def try that
Thanks agian for taking the time to read this
please igmore the spelling mistakes i think quicker then i type

tealady

Hi are you saving £50 per month. If you are then see what would happen with your debt free date if you only saved £25 say and put the rest to the debt with the highest APR.
Start a spending diary, track every penny you spend. Have a look at the Old style board for some great cheap meal ideas and other ways to cut back.
Go via a comparison website then a cashback website for things such as car insurance.
If you are in the habit of giving lifts ask for a contribution towards the petrol after all they are getting a better journey than on the bus or shanks pony.

Cerisa

stop saving. Pay off the credit card - which will only take you two months at that rate - then cut it up. Then spend that £50 a month paying off your parents or your overdraft. There is no point in saving while you have debts.