It's finally hit me.....

little_miss_broke_2

MushyPeas wrote:

Hiya. Just to warn you, you may be refused a PO credit card. Apparently loads of people were when they first started it (including PO staff) and my mum who NEVER gets refused!! Good luck.

Hiya mushypeas :wave:

Oh boo hiss!! I did the on-line application last night, so i'll just have to wait and see.

If i get refused would it be worth me applying for a different 0% card do you think? I know it can have a bad effect on your credit rating though can't it if you apply for too many things and get refused.

Would i be better off (if they refuse me), to keep plugging away with the cards and maybe apply elsewhere in 6 months time or so?

moongarden

little_miss_broke wrote:

Not sure about the grocery budget to be honest, that comes out of the joint account and if i were to start saying i wanted to pay less in a month i know H would wonder why. I'm not quite ready to tell him just yet.

maybe tell him you are meal planning to get more organised and save you time. leave the money you would save in the joint account and pay it off a joint debt at the end of each month. that way you both benefit and you don't have to tell him.

tra_2

Hi. I've just sat and read through this thread with a growing tear in my eye and I just wanted to tell you, that I think you are all very very nice people. :T

jeff1969

LMB, I can't remember all the apr's you have, but here's a suggestion :-)

Why not try applying for IF fixed 4.95%apr card (life of balance) which is not based on income, if not in your name, try perhaps H as he is now aware of the problem he will be willing to do this to try and decrease the debt, you can then if accepted cut up the Virgin card etc.

This may be a better thing to try first instead of applying for 0% cards and being refused ( all applications appear on your credit file eg experian ), if you do manage to get the fixed rate card, then you could try for 0% cards which only last 6-9 months at a later date, at least the main apr's are brought down!!!

Jeff

little_miss_broke_2

jeff1969 wrote:

LMB, I can't remember all the apr's you have, but here's a suggestion :-)

Why not try applying for IF fixed 4.95%apr card (life of balance) which is not based on income, if not in your name, try perhaps H as he is now aware of the problem he will be willing to do this to try and decrease the debt, you can then if accepted cut up the Virgin card etc.

This may be a better thing to try first instead of applying for 0% cards and being refused ( all applications appear on your credit file eg experian ), if you do manage to get the fixed rate card, then you could try for 0% cards which only last 6-9 months at a later date, at least the main apr's are brought down!!!

Jeff

Hi Jeff,

I couldn't find the APR's of any of the cards (think they must be a big secret or something lol!!), i am definitely going to make it my mission tomorrow to find out because i want to fill in one the those "snowball" chart things.

That's a good idea about the IF card, thank you for your advice. I'm pretty sure H would be willing to help me out on that and at least with the card in his name he would know there's no chance of me spending on it.

I already cut up all my cards on sunday!! There was bits of plastic as far as the eye could see :rotfl: My purse looks ever so empty now, but in a good way!!

MushyPeas

Hiya LMB

Evening :hello:

Sorry not been in contact, just back from work

I'll keep my fingers crossed for you about the Post Office, maybe you'll be lucky?

I believe there may be some articles on this site about applying for more than one credit card at a time. Perhaps others have advice? I'm not sure how long you should leave it between applying for each card. Sorry I couldn't help this time....I'm still quite a newbie really

I hope you are having an economical week m'dear.

Catch you later

MPeas

jeff1969

LMB, to start reducing my debts I firstly applied for a "life of balance" card, I knew that for the lifetime of that debt the APR will not change :-)

Obviously transfer your highest apr debts to this card, if the one card won't cover all the debt, perhaps a second "LOB" card may be worth applying for.

If your able to get all your debt onto "LOB", you can then look at 0% cards, work out if the card lasts for 9 months, how much can you realistically pay off in that 9 months, leaving the remainder on the "LOB" cards.

At least if you get your debt onto "LOB" cards you know that your APR's are fixed and that you have the option of 0% cards in the future :-)

Jeff

MushyPeas

Hi LMB

Just came across a *fab* thread which I thought I'd let you know about. In the 'MoneySaving Old Style' forum people are swapping tips about feeding people for less than £12 per week! Look at the following two threads:

- Eat for £12 a week
- Black-Saturn's Menu Planner

Both inspirational. I thought I had cut my spending down on groceries, but now I'm embarrased at how much I spend! Hope this helps

MP

angelatgraceland

Hi
Do you ever forget to pay those minimum balances and end up getting penalised? I have a couple of times, I am ashamed to say! Set up direct debit for your cards so that the minimum is ALWAYS paid on time. When you have paid off your first card(probably a store card) make sure you phone them up and cancel the account-otherwise you will get a new card sent to you at some stage, when the old one expires. You dont want that, do you!
Secondly, keep a day to day spending diary, and scrutinise it at thje end of the week. When you see the spending in black and white, you see more clearly where you can make your savings.
You are doing GREAT! Getting the bus, instead of a taxi realy is a good start. Do you have far to travel? Is it worth getting a bike?(Borrowing one)
My dd has just had to come clean about her debts to me. At just 20, she owes nearly 2k and has no job. Luckily, she is living at home with us, and Ive managed to clear her 2 store cards which were about £350 total. I paid off one tonigh for £241. That was Dorothy Perkins. Not sure what the interest rate was, but last month, the min payment was about £8.70 and this month, it worked out that it had reduced the balance by 35p. The other £8.35 was interst! When she saw this-all of a sudden-she had that "lightbulb moment"-hopefully it was halogen spotlights as Id warned her of this before-she had seen the tv programs, read the stories etc, but of course-it only happens to other people.
Now she is beginning to understand me having my bogofs and "covering the delivery charge" on my tesco order, comparing it to the cost of petrol-deciding if its cheaper to pay for a delivery and better to go to work for an extra 2 hours rather than spend it shopping etc. It seems extreme at times the things I calculate, but I am proud to say that I have no debts.
You will get there too one day-as a united front with your hubby by the sounds of it. He will now understand if you keep lists and make endless changes. Have you downloaded Martins spreadsheet? It did me a big favour, as when I went hunting for paperwork regarding my house contents insurance I realised it had expired! Anyhow, good luck and big hugs! Hold your head up high-you should be proud of what you have achieved this week-its a leap forward!

choccyface2006

I have also just read this thread and have been very moved and inspired by you LMB. You have been given some amazing advice here and should be so proud of yourself for using it to help to get yourself out of this situation. I just know you WILL end up debt free with the support of your husband and your own determination to do so.

Well done!!

Sarah x :money: