Pay and spend or pay less??

redmel1621

Hi

I am just after a bit of advice please. I have a credit card and a catalogue, both of which I would like to pay off, and eventually be in a position not to really have to use them again.
After paying all my bills and a minimum payment off of each debt each month I have £100 per week left, however that does not include money aside for clothes, hairdressers, school trips, travel, etc so is not an entirely realistic figure.... But is what I was wondering is, am I better to pay the £100pw off my credit card bill and then when I do need to buy clothes etc pay for them with the card. Or am I better to pay a smaller amount, say £30pw but keep the rest aside for these items?
I keep think that at least if I am paying this large mount off each week the interest will be reduced each week and I can hopefully spend a lot less than £400per month back on it.

Hope this makes sense, advice greatly welcomed.

Mel x

crapwithcash82

Hi Mel, I'm not 100% sure what the best answer is! If you don't mind me asking, how much do you owe on your credit card and catalogue - just asking because if it would be paid off in a few weeks by paying the extra £100 per week you have left over then it might be worth it? If its going to take longer maybe you could use half of your spare money towards it and keep half for emergancies? That way at least if you're paying slightly more towards it?

Someone may come along soon with a better solution for you - but good luck whatever you decide to do! x

redmel1621

Hi
yeah, sorry forgot to put that in didn't I
Catalogue - £1300
Crdit Card - £1245

with a fair bit of extra expense at the moment as my two boys birthdays are Oct/Nov then christmas and baby3 due beg Mar

Mel x

Miss_Piggy_2

Its difficult to say without exact figure but I would pay off the highest APR first, depending on original balance.