Too scared to work out what I owe

D&DD

Morning Moozie just checking in Glad to see everyday things are looking brighter.You will still get the dark moments I still do and many others but we're all here to help each other out of them so just post away if you start to feel low I know I will :rotfl: I seem to have the hang of the snowballing now and have got my debts all in order as such but I too am struggling with where the heck does all the cash go?? We are in the same boat overdraftwise but thats my cunning plan for this month to use the 5 paydays in march to get rid of that..she says ... :rolleyes: fingers crossed!! I am following a lot of the tips left for you on this thread as they seem to apply to our situation also (thanks to everyone for some really useful ideas :T )Meanwhile have you had a chance to look at OS yet? (moneysaving oldstyle) the posters on there are great for saving money on everything

Richie23_2

Hi Moozie..
I've only be on this site a week or so and always check to see how your debt is going. Heres a few of my thoughts and hopefully others might agree.

One thing I usually do is try and get rid of little debts if i can transfer them to another card.
This is your debt.. sorry to remind you.
Barclays joint OD - I owe £1,277.65 15.6%
Halifax CC - £2,351.09 0% til July
Freemans - £65.00 0%
Bhs - £33.07 26%
Sainsbury's loan - £6,150.96 6.5%
Tesco loan - £6,250.00 6.5%
Barclays sole OD - £413.02 15.60%
Barclaycard £51.56 12.90%

What are your limits on these cards? I recommend to try and get rid of Bhs - £33.07 26% and the Barclaycard £51.56. Can you ring any of the credit cards up and try and transfer these accounts across. I know Barclaycard have a 6.9% for life of the balance at the moment. If you can transfer them to another card and then just cancel them.. that will be 1 or 2 less letters you have to open and less companies to worry about. Once a card is cleared i was cancel it and then you know you wont have a sudden urge to use it.

I'm in debt myself and i always worries me.so everytime i pay some thing off I either cancel it or ask for the limit on the card to be dropped.

Hope this helps and makes sense.

If I can do it then anybody could..

Good Luck
Richie x

loubie_lou

Hi Moozie!

Just another word of congratulations. I'm not online at the same time as you but I was just going to suggest would it be possible to suspend your pansion payments for a year or 2 and throw these at the debts as could clear a couple of grand off it?!

HLK

Hi Moozie 'The Inspirational'

Its'only a few pounds but shouldn't the tv licence be £11.07 and not £18.07 ? Hope it's a typo!

Also the telewest bundle - might be worth a rethink on this - they are owned by NTL and last year I got NTL to drop my bundle cost by over 350 pounds a year ! - do a search on telewst and find out what others are being offered to not cancel their contracts and if need be move to something cheaper.

HTH - keep up the good work..

moozie_2

D&DD wrote:

Morning Moozie just checking in Glad to see everyday things are looking brighter.You will still get the dark moments I still do and many others but we're all here to help each other out of them so just post away if you start to feel low I know I will :rotfl: I seem to have the hang of the snowballing now and have got my debts all in order as such but I too am struggling with where the heck does all the cash go?? We are in the same boat overdraftwise but thats my cunning plan for this month to use the 5 paydays in march to get rid of that..she says ... :rolleyes: fingers crossed!! I am following a lot of the tips left for you on this thread as they seem to apply to our situation also (thanks to everyone for some really useful ideas :T )Meanwhile have you had a chance to look at OS yet? (moneysaving oldstyle) the posters on there are great for saving money on everything

Good morning D&DD

Glad to see you again. Thinking about yesterday morning, I should have logged on here and had a vent. Why didn't I think of that? You are right, next time I am low, I'll do exactly as you sauggested!

That's my cunning plan too. To get the joint A&L account back in the straight and narrow this month. I will be doing budgeting with the OH this weekend. Last month was the last one we spent over £600 on food, petrol and entertainment!

I'll keep an eye on your OD if you do the same for mine We really need to get the bank accounts we use (A&L and FD for me in order so we can start making an impact on the Barclays joint OD. That's my snowballing plan and hope it's the right one. Hope someone can confirm that's the right way please

OS looks GREAT! It's going to be my second home on here, I can just see it.

Thanks and keep up the snowballing

bank_of_slate

chants in cheesy Ricki Lake audience style
GO MOOZIE GO MOOZIE GO MOOZIE!
:T
...Linda xx

moozie_2

Richie23 wrote:

What are your limits on these cards? I recommend to try and get rid of Bhs - £33.07 26% and the Barclaycard £51.56. Can you ring any of the credit cards up and try and transfer these accounts across. I know Barclaycard have a 6.9% for life of the balance at the moment. If you can transfer them to another card and then just cancel them.. that will be 1 or 2 less letters you have to open and less companies to worry about. Once a card is cleared i was cancel it and then you know you wont have a sudden urge to use it.

Hi Richie Thanks for the very helpful post. Just as an update, I have now paid off the Barclays sole account OD and have arranged for the Barclaycard to be cleared on the 2nd March. Also the Bhs card will be paid on 17th March by DD. Have cut up both now

I don't know what I should do about the Bhs card (limit £350) and the Barclaycard (limit £9,000). Someone advised (I'm sorry I don't remember your name ) that as I should focus on the joint Barclays OD, I will probably need to apply for another 0% CC to transfer the belance off the Halifax in July. It was suggested that I limit what credit I have available to me now so it doesn't inhibit me getting abother card.

So should I cancel the Bhs and B/card or not? IF B/card have a low interest rate for balance transfers maybe it is worth keeping??? Any advice from anyone that has a view would be very helpful.

Thanks again Ritchie, you gave me food for thought

moozie_2

loubie_lou wrote:

Hi Moozie!

Just another word of congratulations. I'm not online at the same time as you but I was just going to suggest would it be possible to suspend your pansion payments for a year or 2 and throw these at the debts as could clear a couple of grand off it?!

Hello again loubie_lou

That was a good suggestion. I don't know - surprise surprise! I have contacted our pensions section at work just now and I am waiting for a call back. I work in the public sector so if anyone out there knows anything about the final salary scheme, please share your knowledge.

I am seeing a pattern here: I sign for things I don't really understand or know enough about. My new mobile contract is another example. I phoned them this morning to find out when the next pmt is due and for how much. Last month is was £29. They advised me I am on 6 months half price rental and the £29 was for part of a month plus one month. My regular pmt for 6 months will be £19 incl VAT. Good news but I wish I were listening when they sold it to me!

Things are changing within me. I can feel it today

Anyway, I am rumbling! I will post what pensions advice I get. Thanks again

moozie_2

HLK wrote:

Hi Moozie 'The Inspirational'

Its'only a few pounds but shouldn't the tv licence be £11.07 and not £18.07 ? Hope it's a typo!

Also the telewest bundle - might be worth a rethink on this - they are owned by NTL and last year I got NTL to drop my bundle cost by over 350 pounds a year ! - do a search on telewst and find out what others are being offered to not cancel their contracts and if need be move to something cheaper.

HTH - keep up the good work..

Hey HLK

I love your avatar by the way! I'm still struggling with the 'inspirational' title! But this thread seem to help others in my situation so it's great.

Thanks for your post. Good points! The TV license is not a typo, that's what it says on our statement. I must double check that when I get home!

As for telewest, I didn't realise they could make an offer for us not to cancel the contract. Maybe I am too naive but I thought their prices were fixed. Well, I'll take your advice and call them this weekend. It can't hurt and if A&L can refund £25, anything is possible!

Thanks again

HLK

Moozie .. have a look at the pensions board - before you take action - most people would die for a final salary scheme and it would rarely be good advice to stop this if your employer is also paying into it. However I'm no expert but the pensions board has a few very knowledgeable people who can help.

I also noticed you cancelled your ISA - this may have been a good place to put your savings for annual bills (divided by 12 to soften the blow..). You are doing so well but it may be wise to not rush things too much. Check everything - as well as this marvellous board the other boards are more specialised and can give you specific advice re pensions, savings, current accounts etc.

Just checked this - and if your tv licence was set on DD in the last 6 months the higher payment may be right - if it's been longer than that they may OWE YOU MONEY .. perhaps a typo by the person inputting the DD to the bank who knows.