Taxis back to basics...debt and mortgage free before 50(feb 2014)

hypno06

taxi73 wrote: »

What do you think?

Well, as you know, I don't always go with the highest APR first, I go with either the easiest one to clear, or the one that psychologically will give me the most motivation....gut feeling plays a big part in it for me.

So.....that means.......what do you *feel* like paying off next, and how do you think you will go about it?

taxi73

I really really wanted to pay the lower loan off....freeing up £186 p/m..which could then have gone to overpayment on the mortgage...I had most of it as well but have just used some to pay the american express.
Also at the end of the day I've trapped a higher interest behind a 0% on virgin so that should be a critical one BUT if my A+L plan works out then it won't be as important as if it's transferred to them it'll be 0%.
I really don't know what to do...all will be going down as they have at least the minimum payments anyway but it's just where to aim the overpayments.
The 0%s are obviously time relevant so maybe those first so that they don't get any interest..
The 6.9% are both LOB....
Still really stuck...ahhhh

shaun40400

hi taqxi
diner was great
home-made ck and leak soup and chips ,,,was tired

just read through the start,,,,you go for it gal,,,fingers crossed it all works out,,,,i hope you've planned this out as a nice and steady journey??

:eek:,,,,next door neighbour,,,,a little weird:eek::eek:
has loads of friends around today ,,,8 cars,,,thought it was just diner they were doing.....but no\!!!!
they all bloody musicians,,,,doing a diddle y diddle y session:eek::eek:
theyve got till 10-30
then im turning the speakers of the surround sound system to the walls and going to have a ...lincan park session:rotfl::rotfl::rotfl:

Double_Trouble

Hi Taxi

I caught up in the last few days on your old diary and now you have a shiny brand new one :j I am subscribing so I don't fall behind again.

Well done on looking at the whole picture thats what I intend doing too and in December when the MFiT-T2 starts I will be attacking my debts on 3 fronts my CCs which are thankfully all 0% now, my loan from my Mom and my Mortgage don't think I will be debt free by 2014 more likely 2016 as my mortgage is approx £207K at the moment but I shall do the best I can. Feb 2014 would be nice though because I am 55 that month:eek:

I will be watching your progress with interest.

DTxx

Karmacat

Hi Taxi - congrats on the shiny new diary!

2014.... that would be fantastic to be completely free by that time .... thats an important year for me as well, the December ..... there's a zero in my birthday, but its not a '5' in front of the zero, unfortunately :eek: My debt is less, but so is my income, unfortunately - working on raising it pronto at the mo.

Good luck - I love to hear the reasoning behind what you're going to do first, but there's a phrase you've used that I don't understand: " I've trapped a higher interest behind a 0% on virgin" - how do you mean, you've trapped a rate? I've got that A&L offer too, but I don't think there's any advantage in taking it up for me ....

anyway, looking forward to the journey!

lucielle

Hi Taxi, shiny new diary. Have subscribed so I can keep up.
L

taxi73

Hi all...Karmacat...what I meant was I forgot that there was a balance on that Virgin card and it had just come out of it's 0% period.I was offered another 0% on that card and took it forgetting about the balance that was already on it gaining interest.
What usuaully happens is that the payments will come of the lowest interest balance first...leaving the one behind gathering interest a big mistake!!!

Karmacat

Oh! Thats not good they really try to get us in all sorts of ways, don't they?

Keeping_Motivated

Hi Taxi

Would it help you to put the dates that the 0% deals end next to the total of each card and then throw any extra payments at the one with the shortest time left before it shoots up and starts costing you?

taxi73

Looks like we've all got shiny new plans...and I hope we all achieve them...won't it be fantastic.
The only help the A+L offer is to me is to transfer the balance from virgin or else not worth it either for me KC.
Shaun.....your neighbours are a total pain in the butt....hope they'be become quieter.
DT...that's some amount of mortgage to get rid off....as well as debts...good luck.