Help Required

Sassy_Samantha16

Hello There

I thought i would write you a quick message this evening to see how you are and to see if you have anything planned for the weekend.

My partner and myself currently have two main bank accounts which we have an overdraft on.

At the moment we are using our overdraft on both of the bank accounts as we don't seem to have enough money to keep on top of the bills etc.

Once we have been paid from our employer we do go into the plus, but then all of our bills and direct debits come out, and we soon end up in the overdraft again.

We are thinking of either getting a credit card or a loan, where we can borrow some money (£1,000.00) just to help clear the overdraft etc.

Our problem is that we are not to sure as to which one would best suit us, as we kind of want one where the interest is as little as possible and you could possibly pay the amount back each month etc.

I was just wondering if someone could offer me there advice, as i am kind of confused over it all.

From Sam

CLAPTON

first thing to do is to stop spending

second thing is to work out a detailed and brutally honest budget.. try this budget planner

http://www.makesenseofcards.com/soacalc.html

third; once you have worked out the budget then post up the result either here or on the debtfreewannabe board and people will help suggest ways of reducing spending

fourth... find ways of increasing your income.. overtime, parttime jobs

fifth ..reflect that getting a loan to 'pay off' the OD doesn't change your debt atall, and is likely to cost more in interest and you're likely to run the overdraft up again and then you'll have a loan and an OD...