A Payment A Day Part 5

Double_Trouble

SarahNeedle1872 wrote: »

It does make sense, if a little complicated!:o

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

My life is always complicated but doesn't`usually make sense so I must be doing better.

DTxx

SarahNeedle1872

so_here_we_are wrote: »

Morning All

Thanks for the farmville replies, I will PM you all soon but give me a couple of days to be able to find it again and actually figure out what its all about.

Pad today is £9.28 (from yesterday which i forgot to add on here)- this is my final payment to my 2nd cc, and have rang them up and closed the account. 2 DOWN 1 TO GO.
Also £1.59 to my sealed tin.

So glad its friday

SHWA

Ooo, missed this shwa, congratulations on clearing your card

Sx

Thrifty_Pixie

Hallooooo der!

Just a wee PAD of £1 for me today, but I have a weekend alone this weekend to get on with some packing and sorting for eBay and so am going to make it as much of a NSW as I can apart from some basic supplies

Have a glorious Friday!

*meep*

macgirl

Matt666 wrote: »

Morning folks! :beer:

Back to the normal £5 PAD to the CC's today - there's a possibilty I could clear my Abbey card within the next week rather than transfer it over to my 0% Virgin....but that would mean using my savings...what do you guys reckon?

Hi Matt, I agree with DT, pay it off. MSE Martin always advises to clear your debts before saving, plus it will be a good psychological boost to have it gone!

Double_Trouble wrote: »

Just realised that because of our pay cut the next payday after that won't be until the end of April :eek::eek::eek::eek::eek::eek::eek::eek::eek::eek:

Ouch! Good job you're good at bingo!:o

mummy2mygirls wrote: »

Have been ill since i started this so havent been making my pads - but i will restart now as im starting to feel a little better

Glad you're on the mend mummy!

mswan

Hi all £5.51 paid direct to cc £5 from reward account and 51p rounding off my bank account

this is the first time I have done this ..... a little excited.... thanks everyone for the ideas and support :beer:

Greenbynature

A Canadian salesman checked into a futuristic hotel in
Tokyo Japan .

Realizing he needed a haircut before the next day's
meeting, he called down to the desk clerk to ask if there was a barber on the premises.

'I'm afraid not, sir,' the clerk told him apologetically, 'but down the hall from your room is a vending machine that should serve your purposes.'

Skeptical but intrigued, the salesman located the machine, inserted $15.00, and stuck his head into the opening, at which time the machine started to buzz and whirl. Fifteen seconds later the salesman pulled out his head and surveyed his reflection, which reflected the best haircut of his life.

Two feet away was another machine with a sign that read, 'Manicures, $20.00'.
'Why not?' thought the salesman. He paid the money, inserted his hands into the slot, and the machine started to buzz and whirl.
Fifteen seconds later he pulled out his hands and they were perfectly manicured.

The next machine had a sign that read, 'This Machine Provides a Service Men Need When Away from Their Wives, 50 Cents.'

The salesman looked both ways, put fifty cents in the machine, unzipped his fly, and with some anticipation, stuck his manhood into the opening. When the machine started buzzing, the guy let out a shriek of agony and almost passed out. Fifteen seconds later it shut off.

With trembling hands, the salesman was able to withdraw his tender unit......... which now had a button sewn neatly on the end... :rotfl:

Greenbynature

Morning all

Great total for yesterday thanks to purple for the adding up.

Mswan hope your doggie is soon home and fit and well.

Flower sorry to hear about your OH - hope he's ok.

DT what a nightmare not getting paid til April :eek: another reason to stick to the bingo lol

Pad today is 40p to ISA and £2 to cap1 cc

£2.40

MinniMe_2

Morning everyone.

Only a small PAD today of £1 towards halicrap CC.

Spent last night going through everything as I have had a lot of movement on things lately, so Have updated my sig with total date - a little over 10K - scary but glad to know exactly where I am. Also work owe me apx £500 which is on my CC so hopefull get that at the end of this montha nd pay a chunk off. Also looks like I will finsih paying my student loan this year which will free up even more money every month. Also got a couple of MS for teh next couple of weeks - really feel like I have renewed vigour for this at the minute

Hope everyone has a great day.

Paulgonnabedebtfree

macgirl wrote: »

Hi Matt, I agree with DT, pay it off. MSE Martin always advises to clear your debts before saving, plus it will be a good psychological boost to have it gone!

Although Martin's advice is correct for somebody who can be certain of never needing short notice, emergency credit, for everyone else, I think his advice is out of date.
It was correct at the time he first gave that advice. It is not necessarily correct now. This is because many of the lenders withdraw facilities completely or drastically reduce credit limits without warning. This happens to people who do not misuse their accounts too.
A fictitious example to try to clarify (one which could happen to me if credit was all suddenly withdrawn):-
I use money earned to pay down my debts in the belief that I have £5,000 credit for an unexpected emergency. I could have put that money into a savings account but didn't because I knew I had access to £5,000 if I really needed it. Then a disaster - the gearbox needs replacing on my van. Cost £3,000. I put the vehicle in for a replacement gearbox. When I go to pay (using a credit card as I have no savings), I find that the credit limit has been slashed, without warning, to just £200 above my current outstanding balance. I am now in a catch 22 situation. I have no savings to get the van out of the garage. I have no access to credit either. Therefore, no van, no income, totally stuffed.

I think Martin should re-jig that bit of advice to saying that if you are in debt, you should not have savings of any more than you might need to meet unexpected emergencies. Of course, for some people that might mean just having enough put aside for bus fares and sandwiches for work for a month. For others that could mean having enough for a major vehicle repair and to carry a few weeks sickness from work.

If Martin is referring purely to just the numbers then of course he is correct. However, it doesn't take account of potential cashflow problems - particularly for people who are totally dependent on running a vehicle in order to earn a living. Even someone who normally drives to work might get away with using public transport for a while. However, I don't think an 800 litre water tank, a load of window cleaning poles, and a stepladder would be very well received by a bus driver. Maybe I could put the water tank on wheels and have it towed behind the bus.

Double_Trouble

Paulgonnabedebtfree wrote: »

Although Martin's advice is correct for somebody who can be certain of never needing short notice, emergency credit, for everyone else, I think his advice is out of date.
It was correct at the time he first gave that advice. It is not necessarily correct now. This is because many of the lenders withdraw facilities completely or drastically reduce credit limits without warning. This happens to people who do not misuse their accounts too.
A fictitious example to try to clarify (one which could happen to me if credit was all suddenly withdrawn):-
I use money earned to pay down my debts in the belief that I have £5,000 credit for an unexpected emergency. I could have put that money into a savings account but didn't because I knew I had access to £5,000 if I really needed it. Then a disaster - the gearbox needs replacing on my van. Cost £3,000. I put the vehicle in for a replacement gearbox. When I go to pay (using a credit card as I have no savings), I find that the credit limit has been slashed, without warning, to just £200 above my current outstanding balance. I am now in a catch 22 situation. I have no savings to get the van out of the garage. I have no access to credit either. Therefore, no van, no income, totally stuffed.

I think Martin should re-jig that bit of advice to saying that if you are in debt, you should not have savings of any more than you might need to meet unexpected emergencies. Of course, for some people that might mean just having enough put aside for bus fares and sandwiches for work for a month. For others that could mean having enough for a major vehicle repair and to carry a few weeks sickness from work.

If Martin is referring purely to just the numbers then of course he is correct. However, it doesn't take account of potential cashflow problems - particularly for people who are totally dependent on running a vehicle in order to earn a living. Even someone who normally drives to work might get away with using public transport for a while. However, I don't think an 800 litre water tank, a load of window cleaning poles, and a stepladder would be very well received by a bus driver. Maybe I could put the water tank on wheels and have it towed behind the bus.

I agree Paul I didn't suggest Matt paid it off because of Martin's advice but just in his situation what is a fairly small amount he could replace quickly with PADs and avoid a BT fee.

I know I should have savings which I don't so in that respect I am sticking my head in the sand but I feel fairly secure in the fact that if necessary I could extend my mortgage (not something I would want to do) but it would have to be something major ie the need to repay Mom's loan quickly or my car goes kaput which having done 140K is a distinct possibility. I understand however your situation is more serious as a potential problem as you say wrecks your earning capacity. I think Martin should amend his advice if that is what it still says(I haven't read it) in this economic climate most people need a what if fund

DTxx