Need some advice PLEASE :) **update**

cmc_entertainment

southernscouser wrote:

Do you have sufficient credit on a credit card to transfer your overdraft limit on to that? However if you get paid weekly does that money not go into your Natwest account? Whatever you do don't ignore it. Phone them and explain that you are a bit short this month but have a plan. If they were to extend your limit just so that you don't incur any charges (which you can claim back when it's sorted but don't tell them ) you would be able to sort yourself oput and reduce your overdraft each month.

Wages go into my wifes account in halifax. Dont have any free credit on any CC - maxed out. Tried 2 weeks ago for an increase quote from them - "No, and your recent account record is appalling". The climback will do when its all sorted out. Will get rid of overdraft when cleared.

southernscouser wrote:

Regarding your monthly outgoings, you are paying £226.80 a year for your TV license! How come?

ERM its 18.90 for 6 months or so, then it goes down

southernscouser wrote:

Get rid of the SKY. Or at least downgrade packages. You can't really afford that luxury at the moment! Also are you tied into a contract with your internet. I pay £14.99 a month for 1gb BB! That would save you £84 a year! :j

Wife wants to keep sky as i have the internet [plus.net]

southernscouser wrote:

Now I'm making an assumption here so apologies if I'm wrong, but it seems to me you are living beyond your means. The fact most cards are up to their limits or over suggests you are paying the minimum payment each month but then using them again!

Yup - caught red handed - they were down - honest

southernscouser wrote:

Start a spending diary and every day note down EVERY single penny you spend. Even if it's only 20p on a packet of chewing gum. At the end of the month it gives you a massive eye-opener as to where your money goes!

WIll look into this - wife likes that idea too


BTW - thanks

all_hours

That extra £50 makes a big difference. You could be debt free by the time your new baby is only 2 years old.

cmc_entertainment

WE cut up:

DP Card
my Cap One Card
My Halifax CC [which i never use - second user]

Will cut up:

Wifes Halifax CC [when we find it............its here somewhere :rolleyes: ]


:T :j

southernscouser

cmc_entertainment wrote:

think it was around 6-7 months ago when i consolidated my natwest od [around 1700 then] and 1k for cap one card which didnt get paid off - worst mistake :embarasse

Been there, there done that, got the t-shirt. Several times! :doh:

Infact I think I sold the t-shirts on ebay! :think: :rotfl:

You see by just paying off £50 more a month it knocks 6 years off your DFD! :j

Bet it saves a bit in interest aswell? :T

Maybe you should apply for a new card then to get a better rate! :think:

Pop over to the credit cards board and ask the peeps their advice!

cmc_entertainment

all_hours wrote:

Does the TV license drop to £11 a month after 6 months?

Yup

all_hours wrote:

Also you haven't included a water bill - even if you pay for this yearly you should add it to your monthly budget.

In with council rent

all_hours wrote:

Add something to your budget for clothes. If your wife buys clothes on a 29% card and then only pays the minimum £10 per month, those clothes are costing you a lot more than they need to.

rarley buy ANYTHING for myself.

all_hours wrote:

How old are the kids? You can get decent 2nd hand stuff on ebay - brands like Next + Gap. Whatever else your wife is using that card for needs to be added to the budget rather than the debt.

Kids are just over 1 and another one in a couple of weeks :eek: :eek::p :rotfl:

southernscouser

cmc_entertainment wrote:

WE cut up:

DP Card
my Cap One Card
My Halifax CC [which i never use - second user]

Will cut up:

Wifes Halifax CC [when we find it............its here somewhere :rolleyes: ]


:T :j

Well done! Thats brilliant! :j :beer:

Also have you over the years cut up any old credit cards without cancelling the accounts. If so get your credit reports to check as having these still open can have a negative affect on your credit rating!

cmc_entertainment

my DFD nerd # ?:rolleyes:

[below:T ]

Annie_Fanny

cmc_entertainment wrote:

WE cut up:

DP Card
my Cap One Card
My Halifax CC [which i never use - second user]

Will cut up:

Wifes Halifax CC [when we find it............its here somewhere :rolleyes: ]


:T :j

Whoop whoop! YEAH! :T

all_hours

southernscouser wrote:

Been there, there done that, got the t-shirt. Several times! :doh:

Infact I think I sold the t-shirts on ebay! :think: :rotfl:

I could do with one of those.

Annie_Fanny

Also ring CC companies and as them to cut the apr rate otherwise say you will do a balance transfer to something cheaper...worth a go...