Help!?!?!

andy_skellington

Hi RAS.

How do you mean? Im sure my Barclay Card APR is the same as the EGG card...
Was thinking about just splitting it in half. Bonus goes to emergency fund and the normal excess just goes to the debt...

Also I was clearing out some old paper work and noticed I had loan insurance. I know their is a lot of people trying to get their money back on this and whatnot but in a redundancy situation would these not come in handy?

RAS

i belive that if you clear the barclaycard and try tom close it, then barclays will offer you a balance transfer at 6.95.

what that means is you pay some of the egg debt off and henceforth only pay 6.9%.

Am going to find the links for balance transfers and shuffleing.

RAS

number one http://www.moneysavingexpert.com/cards/cut-credit-card-interest

Number two http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards

starting point anyway

andy_skellington

Ahh, bit of a sneaky way to retain you as a customer. Although I guess transferring some of it onto the Barclays card would reduce my monthly outgoings which would be great.

RAS

You have got the idea.

Ever played with the snowball on https://www.whatsthecost.com?

andy_skellington

Tempted to pay off the Barclays card first this month and then I could hopefully take advantage of asap. Ill look more into it as Ive just skimmed the info and it seems a bit too much info to take in in one go. Also a wee bit mind numbing. Guess thats why Im in the situ in the first plce. I look at numbers and my mind starts blurring them into either happy or sad faces.

MOstly sad faces but im starting to notice happy ones now.

RAS

take it gently. Remember there are many people for whom numbers are a nightmare.

i am not one, but many of my colleagues are which is why i turn numbers into pictures, which they can begin to understand.

The snowball also gives you a debt free date, so a basic indicator is, if I do this does my debt free date get sooner? And does my debt cost get smaller?

You run the figures and post on here for advice.

andy_skellington

Ahh I didnt mean they literally (in my head) turn to wee happy faces. I think its more that the debt is so overwhelming it gets me actually feeling physically sick looking at it and I dont seem to have a great understanding of value. £80 for a pair of trainers. Aye why not. I guess thats why im here eh. Now Im just viewing any spending of money as bad unless I absolutely have too.

doodledo_2

Hi Andy just popping on to say well done on giving up smoking :T and for getting your spends down to 50p a day. Both huge achievements.

I think RAS idea re Barclaycard is a good one and definately worth looking in to.

kindofagilr

Well done on having your lightbulb moment.

I think you are very brave for confronting this.

I just wanted to say good luck and I am sure you will be fine

Oh and 24 and living at home is totally normal, I am 28 and only just bought my first house now. (((huggles)))