An Attempt To Be Cunning...

Foxington

:eek: :mad:

Ok, been a while since my last post thanks to Christmas and some recovery in my illness which meant more time out of the house than I'm used to!

The bad news is that my debts have increased by over £1000 thanks to Christmas, unexpected car repair bills (Of which more are to come...) and a rise in mortgage payments.

That debt will increase as I'm still off work and not earning enough to cover the upcoming repair bills for my car and the general stuff like food at least for the next couple of months while I get back to full time work again.

So, I'm currently on a mission to beat my credit cards into submission so at least I'm not paying as much interest! I rang them all to find out how my balance is split up between cash/card purchase/balance transfer etc. (Of which they were all happy to give me that information except for Egg who just said sorry we don't give that out!!!!!). From that information I'm plotting some balance transfers between my Egg card which is 21.9% to my TSB card which I can get 4.9% for 6 months. After the 6 months I'm hoping I will be able to get a 0% card thanks to getting rid of the Egg card to transfer the balance back and reduce payments further...

I'm also going to experiment with paying my credit card bill the day I get the statement to see if that will reduce the amount of interest I pay as opposed to letting them take a direct debit 20 interest generating days later.

I will need to use credit cards at least for the next couple of months so all purchases I'm going to put on the Barclaycard which has the lowest rate of all of them at 12.9%... Not brilliant, but better than the others!

Debt reduction will hopefully kick in March/April when I'm full time again, for now it's just damage limitation! :eek:

Foxington

Done some saving today! Managed to shave £10 off my monthly mobile bill and also transferred all my Tesco balance to my TSB card at 4.9% for 6 months... This should give me enough time to clear a lot of debt and start shifting to 0%.

Got some major sorting to do so I can back on track with everything £££ related!