I'm Betty and I'm in debt!!!

Bad_Weather

Hey guys,

Hey Medders! Yeh i know the amount of money ive saved on Starbucks alone, I think im just not noticing it as much as the money's just going to debt! Hopefully when the debts clearing ill notice it then... im still waiting on that as everything is SOOOO slow!

Re my Balance transfer (BT)...i'm just thinking out loud so bare with me...

Okay so im paying about 110 on interest (80 on purchases and 33 cash) on my cc and 30 interest on my M&S card.

So im thinking the way M&S are theses days I'm not getting a balance transfer so should I 'll BT as much of my BOS card as I can... 2565 to be exact and since my current balance on BOS is 5,375 less 2565 therefore balance would be 2810... then again give myself to Crimbo to clear...

Bad_Weather

MY USERNAME HAS CHANGED!

I'M NOW BAD WEATHER!!!

Still Betty... But think of me as now Betty with the Bad Weather...

Bad_Weather

Not feeling down but starting to feel sick with money worries, due to the fact I have 30 bucks in my bank to last me to end of month.... I know I am not the only person to feel this way but I think i just figured that once i decided to clear my debt it would be alot easier than this...

Waiting to sort out a loan after lots and lots AND LOTS of maths and SOA's have told me this will be ALOT cheaper than my current PLAN, so IF i get a loan wont be doing balance tansfer... decided 12 months... decided 7K and use it to clear CC's and then slower start chipping at the overdraft... focus is the Credit Cards... this is SOOOOO much the better option for me with the loan so im just hoping, wishing and praying that i get it, hoping to get it with credit union... rates are much cheaper than my bank was offering 16% due to both my accounts being in overdraft...there are two credit unions i can use, first one is based on credit rating and second one is roughly based on ability to pay.. so going to go with that one... plus it only takes 1 month to sort where second one takes two!!! Ive set up a savings account with one... £10 a month... small i know but something!!! I dont like thinking im clearing all the debt and not at least starting SOME savings! So next year ill have 120 quid saved up!!! BUT when my car is clear ill put the £200 a month to the savings and FINGER, TOES AND EYES CROSSED this time next year not only will i have cleared my debt but ill been on road to a deposit aswell!!!

Mind dump over...Sooo to sum up...

Im no further forward... still sitting in what i like to call Limbo Land... im gettting quite comfy here... might bring a toothbrush and over night back next time...

GeorgeUK

Hope you can get a decent interest rate for that loan BW - i would only have done this as a last resort, but it's your choice. Make sure to keep your eye on the small print and specify whether you want PPI on the loan or not. That usually adds quite a bit more to the amount you pay off.

Good to see that the Credit Union is able to provide competition to the banks though.

katie_kt

Try 'pureprofile' and valuedopinions' these are two sites that send you surveys to complete. You can earn from 75p per survey and upwards. Its only small but the cash builds up simply for answering a few questoons usually taking 15mins of your time. See what you think!

Dex

Hey BW,
Good Luck if a loan is the way you decide to go, please beware that I did this and ended up with the loan and resepending - basically ending up in much more debt that previously!! - not saying u would do this, just be careful

I on the other hand am failing miserably at the moment. My debt goes down a bit and then up a bit and last weekend it went up a bit more!! - am so mad at myself I was so focused when I started but now I feel like its all gone to hell

Bad_Weather

Hey team!!!

Check out my new signature!!! It is going down! (well kind of)

Update:

Soooooo got a meeting set up re the loan, still think its best way to go and DEX the minute the credit cards are clear they will be getting CLOSED!!! As the limits are quite high on them so i think it affects my credit rating in relation to how much possibly debt v earnings!!!

Think my first loan payment will be coming out 1st October so im going to take September to clear my crappy 500 quid over draft and then hopefully ill be down to 2 main forms of debt!!! Again going to reduce the overdraft on that account the minute its down aswell!!!

Had a busy expensive month this month which i knew was going to be the case (dont believe me see earlier posts) but still not helped.... had to borrow money off my mum.... BUT no more money on CC's SILVER LINING and I actually cleared my Barclays! I feel like ive done better than i planned this month but really its cos i borrowed money, which im paying back minute i get paid so i dont get that false sense of secuity that i have more money than i think!

Groccery challenge: BOMBED spent over my budget of 90 quid currently sitting at 105 bucks and ive still got till 31st to go....Been keeping track (ish) of my spendings on www.spendingdiary.com and whats really pushed me over the edge was lunches which was nothing compared to what i was spending before but is still more than what i should be spending!!! Dam baked potatos!!!

Gonna make soup next month hopefully that will curb the wanting warm food!!! Soup and bread!

Erm thats it for just now... surprisingly upbeat for yet again having no money... but you guys were right once you see the figures go down you feel better... i think ive been soooo use to making my minimum payment and then using that payment as some more money on my cc each month that ive never really seen the balances go down!!!!

Thats all folks!

Bad_Weather

P.s Dex you need to get a diary that I can follow!!!!

Keep focused!!! PLEEEEAASEEEE dont let all your hard work go to waste think of the RELIEF of when its ALL GONE!!! Thats what keeps me going the though of that when i get paid each month the money will be ALLLLLLLLL MINE!!! Well except for bills.....

Thats and my DAM FLAT MATE... GRRRRRRRRRRRRRRRRRR...

Infact that works better... GET ANGRY!!!!

Dex

Hi Bad Weather,

I've been thinking the same thing re a diary, I need something to motivate myself! - keep an eye out, I think i never started one b4 because I thought i would just end up talking to myself!
I started this journey with 6000 debt last september, I have 3800 in January and I thought id be debt free by this september, well now im just under 6k in debt again and throughly fed up!!
I keep telling myself I did pay off over 2000 and I have bought a new car which i saved 3000 for but im still very angry at my self!!

Its great to hear things are going well for you, yes it is fab when the numbers come down

Bad_Weather

I'm ALLLLLLIIIIVVVVEEEEEEE!

No update really... not been doing to well this month but not going to stress!

Pro: No more money on Credit Cards
Cons: Been going crazy with the baked potatos & starbucks etc
Pro: Crubed the make up and toiletries expenditure
Cons: Not been followong the THE PLAN and its/my RULES! My spenidngdiary is literally going to be missing a month...

Ahhh well SILVER LINING: No more money on my cc's... so maybe its not went down as quickly as id like but its still going down.

Loan STILL to be sorted stupid credit union and their stupid Loans...

Also I have a new job! So hopefully some Job satisfaction might help my attitude a little more...

Thats all folks