What should one do?

izools

Thanks for the input everyone!

The massively expensive Vanquis card is paid in full every month, it is used only as a credit building exercise and as it is cleared in full by direct debit there is no interest charged.

The balance on my Barclaycard is totally to do with my other half, who is paying this back direct to the card. I don't use it.

So I literally have nothing to assign the money to other than stop buying Basics range groceries... but I don't see the point as they are totally fit for purpose!! I've managed to make some incredibly tasty stuff with that econo-crap

Probably just chuck it in as ISA then. ISA the best thing rather than bonds or investments of any kind? I suppose it's still a meagre sum of money so an ISA would probs be the only sensible thing to do.

I've never been in a position to save before! Always been up to my eyes in debt... BR sorted that one out several years ago

I'd love to waste it but the sooner I start wasting money from my bank account the sooner I start wasting money from credit cards and so the downward spiral begins... Not for me!

rb10

Regular Savings accounts.

If you can commit to paying in something every month, then you can get a much higher rate of interest than with most other accounts.

poodlehorse

Since you have both cc on your profile then I am assuming you and the OH have joint finances, so regardless of what he(?) is paying every month I would be saying add to it to get itpiad off asap so that you can then use YOUR £250 and the money he is currently throwing at the Barclaycard to build up savings. My feeling would be after the CC I would open a Cash ISA. And cut up that Barclaycard so the naughty other half can't do it again:D. Like someone already said get the debt paid first before you think of anything else. And if you are sure you can comfortably live without the £250 in your budget then make sure you set up a DD for the day after pay day so you know it will be saved. And if that starts to get a bit easier then tighten the belt a bit more and add another tenner in. I am just about to up our ISA contributions (one each) by £100 a month total as we have reduced our repayments on our mortgage by that much in the last few months. Would pay it off totally but it would cost me too much:rolleyes:. Othewise I will just end up spending an extra £100 on crapola

izools

Progress (if you can call it that) on this one...

... Naughty me spent it at t' bar last night but as we say onward and upward it was only one month, and now I know that spending my spare cash on birds and booze (don't tell OH about the birds... nothing untoward happened anyway ) brings no extra happiness, just more of a need for ibuprofen!

Called Barclaycard and asked to close the account, they reduced my APR by 3% to leave it open!!! Retentions FTW!

VERY good advice about using my spare cash to clear Barclaycard though and using OH's repayments to go in an ISA, defo the best plan.

Let's just hope my OR isn't reading these forums...