It is tough NOW. So how are we coping

Frugalista

Well, here we are again :rolleyes:! OH is redundant again as of the end of this month (2nd time this year):eek: - will it never end .

jamanda

Frugalista wrote: »

Well, here we are again :rolleyes:! OH is redundant again as of the end of this month (2nd time this year):eek: - will it never end .

Sorry to hear that. We seem to be taking turns with it too. (And a lot more like us I don't doubt)

elizabunny

Frugalista wrote: »

Well, here we are again :rolleyes:! OH is redundant again as of the end of this month (2nd time this year):eek: - will it never end .

Frugalista, So sorry that you are having such hard times, I hope there will be better times for you soon.

Re; the Credit Card Minimum payment, whilst I absolutely agree that the minimum payment as set at present means that the debt is almost impossible to pay off. I think kidcat 's idea of increasing the limit for new customers is fair. At the end of the day it's all about affordability and to suddenly push up the minimum payment for existing customers might not mean they pay of their debt quicker, it may mean they cannot pay it at all, for no doubt if they cannot meet the increased minimum repayment the lenders will be only to quick to add more penalty charges to the account and in effect make the debt larger. Just my opinion though.

Rummer

Frugalista sorry to hear your news, we are here for support.

morag1202

I have a cash back credit card and use it for all my spending. My income goes into a high interest savings account and sits there for the month until I pay off the credit card in full. So I "win" twice over with no effort on my part.

I also have a credit card with an APR of only 9.93% which is comparable with the rates for personal loans of under £5k. I have never used it for a large purchase but might consider it if needed because cc's can be paid off over 6 mths but loans penalise you for early repayment.

Above all, I love the safety net of knowing I have access to money at any time if there is a dire emergency - for example if my DS had become ill or had an accident when he went backpacking I could have been there in 24 hrs!

However, I do think that credit is too easily available and too tempting and that repayments are unrealistically low atm so I'm in favour of regulation for future borrowing.

So sorry to hear your news frugalista - been there and it aint fun.

nannaC

Frugalista wrote: »

Well, here we are again :rolleyes:! OH is redundant again as of the end of this month (2nd time this year):eek: - will it never end .

Lots of hugs and support from NannaC & Grumpy grandad

rosepink1984

Sorry to hear your news Frugalista, hope you are all ok

bails

Hi everyone, just had this thread recommended to me and it looks right up my street! :T I can spy some familiar faces already Will be reading back and picking up tips for our continued frugal living when we return home (out of the country at mo), just wanted to say Hi for now! :hello:

catznine

:hello: Hello Bails!

How lovely to hear from you! You finally got to Tibet what great memories you are making!

I dip into this thread every now and then, to find out how things are going for everyone. Big ((((hugs)))) for frugalista.

Re credit cards - we got rid of ours, well we paid them off and tried to keep one for emergencies which the halifax promptly cancelled :mad: as we were not using it (so they were not making any money out of us:rolleyes:) When dh reminded them that we had a couple of accounts with them, a mortgage and savings they reluctantly gave us the card back! (We have used it once and paid off immediately though)

We have since moved some accounts away from the Halifax!

Primrose

I've heard several stories about credit cards being cancelled through lack of use so I think if people are keeping them for emergency use only, even though they hate debt of any kind, I think it does pay to use them regularly for small amounts, even if you pay them off in full every month. It's reassuring to know that money could be available quickly in an emergency, especially if you're on holiday, abroad, your car is involved in an accident, etc so even though you've got the money in your bank account to pay cash, there are times when keeping your continengency measures in good working order makes it worth using a credit card for some payments.