A Payment A Day Part 4

Paulgonnabedebtfree

Seriously annoying though it is, today I need to do something that I thought I would never need to do again.
Horror of horrors, I need to withdraw some cash from an ATM with a credit card in order to deposit the money in my bank account.
Yes, I know, I know. It's a very expensive way of borrowing money and is to be avoided.
I'm afraid that everything has come on top and my cashflow is dire at the moment. The things that have caused this are unusual events.
1) I needed to replace some essential work equipment as a cost of about £336.
2) I've been working extremely hard on commercial work instead of focussing on the domestic customers (= a much longer payout time).
3) The domestic customers for whom I have been working seem to be mostly on holiday so I won't get paid until they return (this last one is fairly normal for this time of year).
4) I have been paying chunks off my tax bill during July - though I am still £210 light and it is now late.

The flipside of this is that I am owed about 2 and a half grand and only seem to be receiving cheques of ten or twenty pounds each day and little cash.
Withdrawing some cash on a credit card (not one where I have an LOB deal) is currently my least bad alternative. I will probably end up paying out about £15 - £20 in interest and withdrawal fees over it. My credit file won't be hurt (though I believe they now share info re cash withdrawals etc.).
The alternative is to not have sufficient funds in my account for a couple of DDs going out tomorrow. This would prove more expensive and potentially cause a bad mark on my credit file.

In short, I have had about £900 in exceptional outlays while my cashflow is depleted.
Considering this, I think I've done OK. It would have been better to pay my tax bill more slowly but I wasn't to know how depleted the cashflow would get.
Even though it's still far from perfect, I am managing my affairs a lot better than I used to thanks to this website.

Double_Trouble

Paulgonnabedebtfree wrote: »

Seriously annoying though it is, today I need to do something that I thought I would never need to do again.
Horror of horrors, I need to withdraw some cash from an ATM with a credit card in order to deposit the money in my bank account.
Yes, I know, I know. It's a very expensive way of borrowing money and is to be avoided.
I'm afraid that everything has come on top and my cashflow is dire at the moment. The things that have caused this are unusual events.
1) I needed to replace some essential work equipment as a cost of about £336.
2) I've been working extremely hard on commercial work instead of focussing on the domestic customers (= a much longer payout time).
3) The domestic customers for whom I have been working seem to be mostly on holiday so I won't get paid until they return (this last one is fairly normal for this time of year).
4) I have been paying chunks off my tax bill during July - though I am still £210 light and it is now late.

The flipside of this is that I am owed about 2 and a half grand and only seem to be receiving cheques of ten or twenty pounds each day and little cash.
Withdrawing some cash on a credit card (not one where I have an LOB deal) is currently my least bad alternative. I will probably end up paying out about £15 - £20 in interest and withdrawal fees over it. My credit file won't be hurt (though I believe they now share info re cash withdrawals etc.).
The alternative is to not have sufficient funds in my account for a couple of DDs going out tomorrow. This would prove more expensive and potentially cause a bad mark on my credit file.

In short, I have had about £900 in exceptional outlays while my cashflow is depleted.
Considering this, I think I've done OK. It would have been better to pay my tax bill more slowly but I wasn't to know how depleted the cashflow would get.
Even though it's still far from perfect, I am managing my affairs a lot better than I used to thanks to this website.

I know how this feels Paul I had to do this a while back needed three thousand for just a few days but nowhere else to get it from and I did ruin a LOB deal with a large balance so I paid dearly for it in fact have not long ago got rid of it. In your case it is the right decision and you will move forward again (I haven't paid my tax bill either going to pay it tomorrow when my cheque clears )

You will get there and this is only a minor setback take care.

DTxx

MinniMe_2

Morning all - Paul - don't be down hearted - you will get there!!!

Another small ish payment here today but got email to say expenses have been sent for payment so will be able to pay more when they come in!

so for today £1.35 towards halicrap cc.

the bad news is when I calculated how much I needed to pay a day to get my halicrap cc under £5K by september - I kinda forgot to take into account the interest jsut added on - ohh dear!

clearing_out_my_pockets

Good morning all - it's a lovely day outside today! Unfortunately that means I'm wearing a short sleeve shirt, which isn't usually a bad thing, but my arm is really itchy!

Today's PaD is £5 to the credit card (I like to keep a balance on it as it has a brilliant rate and I'm scared of capital one closing it due to inactivity!) and £1.23 to the small change pot. Total £6.23.

gilly1964

Not posted for a couple of days as unwell - tablets starting to kick in and feeling less hot and tired.

Please add £99.08 for me today

£98.28 for Tuesday and 80 pence for Wednesday.

All the best
Gilly x

Double_Trouble

gilly1964 wrote: »

Not posted for a couple of days as unwell - tablets starting to kick in and feeling less hot and tired.

Please add £99.08 for me today

£98.28 for Tuesday and 80 pence for Wednesday.

All the best
Gilly x

Sorry you are not feeling well take care of yourself and hope you feel better soon.

DTxx

stopthespends

£5 over 4 cc :j

empy

Good morning all, so my payment for today is:

£2.00

Have a wonderful day everyone.

Emma

angelicmary85

Morning All,

My pad for today is another £10.00 please Mac!

Hope you all have a fab day! x

LondonAndy

Hello all

£21.90 - £20 to hols and £1.90 to Cap1.

Well done catchooky! Fingers crossed.

Still waiting to hear on mine folks, that OK though as my current work is silly busy.

Happy hump day !!

Sounds like the best thing to do Paul. Not all of the card companies are sharing cash advance info. Last time I looked at my report Cap1 were listing them for all to see, but HSBC and Egg were not.