A Payment a Day Part 2!

jenchin66

FLying-fresian, I have checked yesterdays payments, I make it £6 odd different, but it is hard when the Pads are not in bold, :T you are doing a grand job. Well done

mooomin

jenchin66 wrote: »

FLying-fresian, I have checked yesterdays payments, I make it £6 odd different, but it is hard when the Pads are not in bold, :T you are doing a grand job. Well done

Thanks Jen

I'm not hugely worried for £6, it was more the thought I had b*ggered the maths by £300 that was worrying me :eek:

dankosheemo

Fag_ash_lil wrote: »

dankosheemo - I only look "fab" from the front with my " belly held in " !! ...... Cheese i can " take it or leave it " ..... but CHOCCY is a whole " new ball game !! " .....

I have magic knickers for the holding in! :rotfl: But we can let it all hang out 'cause it's the weekend! A glass or two of vino and I'll be asleep on the couch I'm pretty sure of it! Hope you have a fab weekend down south visiting your dad! It'll be a lovely surprise for him :j

Unknown on the PAD front today but I'm sure a £1 can go in but will update later on! Yay early finish today hopefully and I'm running outta the door! Have a fab day everyone!
xx

pippo

Another £10.00 received today from sun b!ngo :j so with some rounding down of bank account that's £13.55 PAD.
Trying to make your counting up easier f-f!

Have a lovely weekend all.

Pip
x

Paulgonnabedebtfree

flying_fresian wrote: »

Thanks Jen

I'm not hugely worried for £6, it was more the thought I had b*ggered the maths by £300 that was worrying me :eek:

I made it £657.63 for yesterday but the way some people write their PADs, it's not always clear.
One anomaly could be caused where someone puts their PAD down for putting money in a piggy bank/jar and counts it a second time when paying a debt with it.

njk0327

Just £1.09 for me today to the egg card.;)

missthrifty

Hi everyone

Love reading posts.... stayed up til midnight to catch up with so many !! Tired today :rolleyes:
Checked bank account this morning. DD has paid in £100 she owed me :j

£9 to loan today. Balance is shrinking !!!!!!

miss t

penniesgrowintopounds

Morning all ~ boy, it's a frosty one!!

Isn't it amazing how much our pads add up to? :T Just £1.00 again for me today, towards the 'orrible Argos debt x

Private_and_Confidential

Hi all MoneySavers.

I've been pondering on this for a short while now, trying to figure out what value the Payment a Day scheme actually adds. Of course the obvious answer is that it's pays off your debts, but at what cost?

On payday, I typically allocate a proportion of cash to paying off my Credit Card. Needless to say however, the £40 payment is soon made much less significant when Mr HSBC slaps on a chunk of interest, usually to the tune of about £20. Two steps forward, one step back.

Payment as Day so far for January has seen me pay toward my HSBC Credit Card almost £120, which is fantastic, and this give me a great feeling, knowing I'm taking more than the two steps forward (before Mr HSBC pulls me back a step).

Question is however, If by today I've managed to pay £120 towards my debt, why didn’t I pay this off as a lump sum on 1st Jan, and save some (not much I accept) interest?

Another question to consider is, if in previous months I've paid the minimum £40, what did I spend the other £80 on?

It's all very confusing, and worrying that I may be allocating cash to the debt, when it's potentially needed in week 4 of the month for something more important, like the mortgage (extreme example I know – sorry).

Like I said, I've been pondering – I think I've figured it out though.

Yesterday, I fancied a bacon sandwich from the canteen (it's not really a canteen. The word canteen would suggest they sell foods and drink – and I'm certain some of the rubbish they sell would be rejected by the pigs on the farm), I corrected myself though. £2 for a bacon sandwich (unnecessary as I'd already had toast at home) OR £2 towards my debts? Debts won hands down. I felt happy inside, and look slimmer outside. Win Win Win Situation.

What's more. The fact that every day I'm making a small, but significant payment to my debts means that when I journey my way through Leeds to catch the train, I'm not tempted to buy anything unnecessary and 'slap it on the visa'.

Payment a Day is working for me. I really hope it's working for you too.

Today's PAD = [STRIKE]£5.00 [/STRIKE] £5.66 (every penny counts)

tuppie

QUOTE From
FAG Ash

tuppie - Re : your 20ps ..... My credit card bills are not on 0% so i would cash them in and put them towards my PAD ..... But that's just my situation :rolleyes: ......

Thank s Fag Ash.....

None of my credit cards are 0% i have tried to transfer but got declined so i wont bother no more, The credit card companiesthat offer me a card it is not enough limit to transfer so not worth it in my view as i dont want to put half and half and have another card

I think i shall cash the 20ps in once a week and pay this towards clearing it all.
Depending on how much is in there as im like the Queen i dont carry cash