Floozie does Frugal 2010

Lurker1972

While it may not be a popular choice, I think that they have their uses, depending on individual circumstances....so

need to check the APR & what penalties there are for overpaying

& then weigh up short term & long term pros & cons

Verbatim

What will you be paying in interest over the life of the loan? Is this more than staying with what you have now? How would it affect your df date?

moo2moo

£250 is a lot of breathing space but could it be better used increasing the payments and shortening the loan term and thus the interest it will cost you in the long term?

If you save the £250 "surplus" each month that would give you £3K in savings in 12 months which is pretty much what your credit card balance was. Not entirely sure what you're consolidating or for how long. Can quite see how a loan is cheaper than credit card interest and knowing exactly what your outgoings are each month will make budgeting easier but if you have £250 "spare" compared to normal each month what will you do with it?

Theres never a right or wrong answer to these things. The small print makes all the difference.

Intergalactic_Floozie

Hi, thanks for the advice. I didn't expect the paperwork for the loan to come today (and it hasn't) LOL so I don't know what rate they are offering me.

Here's what I would like to do with the extra money:
1. Bring my 'everything else' money up to £200 per month. I seem to be coping okay with £140 everything else money, but the extra would mean I had a bit of leeway to take the kids places. I think my budgeting skills are well honed now.
2. Pay off the credit card.
3. Save the rest to create some proper emergency savings

It would extend my DFD by 13 months as Loan number 3 has 47 months left on it, and I'd be taking this over 60 months.

I'm purely consolidating the three loans which would reduce my payments from £547 to whatever they'd be offering me. At 7.9% it was £294 but I bet they wouldn't offer me a rate that low.

I'd still have the credit card but at least then I would be able to PAD to it, as I'd have some spare cash.

I'd still use mystery shopping / survey money to save for Xmas.

Intergalactic_Floozie

Days to payday: 23
Money in bank : 234.95
Money in purse: £32.70
Grand Total: £267.65

Money spent since last update: £53.15
£3.30 - charity shop, pair of black work trousers (ex Wallis!)
£4.53 - Boots (hydrocortisone cream and lady items)
£6.91 - Greetings cards that I needed up until end of March
£2.00 - eyeshadow with 5 colours in it.
£11.00 - 3 x scarves.
£4.50 - sausages / ready made stir fry from meat market
£0.67 - bananas
£20.24 - discount freezer shop
£0.19 - change to coin jar

Grocery budget: £220.00 / £125.92 remaining
Petrol Budget: £110.00 / £54.50 remaining
Everything else budget: £152.23 / £99.44 remaining

OnePoll: Balance £12.80 (1 new survey and a 50p referral!)
Mystery shopping: Nowt new.
Lightspeed: 1080 points
Toluna: 32350 - 1440 added since yesterday.
Advantage Card Points: 846 (spent just over £4.50 in there today).

Okay so I have woken up today and felt really down so unfortunately when I have been in town I have gone on a spending spree. Nothing too horrific but £16.60 on myself nonetheless. I've got a thing about scarves just lately so I spent £11 on three, but they are lovely (and warm)

Also broke my self imposed clothing ban by buying some black trousers for work. They are really nice, ex-wallet, come with a little belt also and look stylish. You can't go wrong for £3.30

Braved the meat market for the first time ever as I hate not knowing how much things will cost. I got 1lb of ready made beef stir fry, and 1lb of sausages which isn't very many, but it's 2 days worth of evening meals sorted. Will need to go to Morrisons later. Also need to buy two more pillows, mine have bitten the dust and I'm sick of retrieving them from the back of the headboard on a morning where they've slithered under because they're as flat as farts!

I'm also deliberating about buying a granny shopping trolley - any thoughts on them. Me going into town on a Saturday morning has become a regular thing and today I had to go round the discount freezer shop with my basket in one hand cos I had loads of carrier bags in the other. But I think they are between £15-£20 and not sure whether they're hideously embarrassing.

YAY – I have been waiting for my Tesco purchases in November to payout and yesterday it finally happened!! £11.00 of it. Unfortunately Quidco also took their £5 membership fee which only leaves me with £6, but it’s a little extra towards my Xmas Fund.

40somethingmum

Intergalactic_Floozie wrote: »

Days to payday: 23
Money in bank : 234.95
Money in purse: £32.70
Grand Total: £267.65

Money spent since last update: £53.15
£3.30 - charity shop, pair of black work trousers (ex Wallis!)
£4.53 - Boots (hydrocortisone cream and lady items)
£6.91 - Greetings cards that I needed up until end of March
£2.00 - eyeshadow with 5 colours in it.
£11.00 - 3 x scarves.
£4.50 - sausages / ready made stir fry from meat market
£0.67 - bananas
£20.24 - discount freezer shop
£0.19 - change to coin jar

Grocery budget: £220.00 / £125.92 remaining
Petrol Budget: £110.00 / £54.50 remaining
Everything else budget: £152.23 / £99.44 remaining

OnePoll: Balance £12.80 (1 new survey and a 50p referral!)
Mystery shopping: Nowt new.
Lightspeed: 1080 points
Toluna: 32350 - 1440 added since yesterday.
Advantage Card Points: 846 (spent just over £4.50 in there today).

I'm also deliberating about buying a granny shopping trolley - any thoughts on them. Me going into town on a Saturday morning has become a regular thing and today I had to go round the discount freezer shop with my basket in one hand cos I had loads of carrier bags in the other. But I think they are between £15-£20 and not sure whether they're hideously embarrassing.

.

My mum used to have a granny trolley when I was little and I used to think it was fab . I used to beg her to let me pull it home. I wouldn't be embarrased .... I have seen a few people with them.... and you can also get some stylish ones... not all granny tartan .... although being scottish I am quite partial to the tartan. :rotfl:Go for it girl ... it will make your life much easier.

40Smx

Intergalactic_Floozie

Days to payday: 22
Money in bank : 234.95
Money in purse: £41.10 (I owed myself some money from activities purse)
Grand Total: £275.95

Money spent since last update: £2.60
£2.60 - magazine for DS2

Grocery budget: £220.00 / £125.92 remaining
Petrol Budget: £110.00 / £54.50 remaining
Everything else budget: £152.23 / £107.74 remaining

OnePoll: Balance £12.80 (1 new survey and a 50p referral!)
Mystery shopping: Nowt new.
Lightspeed: 1080 points
Toluna: 33250 - 900 added since yesterday.
Advantage Card Points: 846.





The trolley that I was lusting after was a zebra print one! I think it would come in useful as occasionally I think I could go shopping when oldest DS gets in from school to babysit for youngest DS but then I think that I'd have to carry heavy shopping home, so I end up waiting for DH to come home, then I drive down.

After another failed bet I have decided to cut my losses and withdraw my betting money from William Hill, it's only £8.20 but it will go towards Christmas.

I've also requested 3 x £3 paypal from Lightspeed but I don't know how much of that paypal will take as their cut. I remember from e-bay days that they used to take a percentage. It's towards Christmas...

Mystery shopping company is showing as £21.25 pending for 25th Feb. It'll go towards Christmas....

natsplatnat

Morning IF!

Would it be worth putting a request on Freecycle (or similar) for a trolley? May not be a trendy zebra one, but would be free. Don't know if there is anyway of making a boring one look more interesting?

Intergalactic_Floozie

Days to payday: 21
Money in bank : 153.03
Money in purse: £32.71
Grand Total: £185.74

Money spent since last update: £
£0.89 - Margarine
£0.60 - WWE Cards for DS1
£1.50 - Tea Fund
£1.00 - 2 x 500ml bottles of pepsi max from pound shop
£1.00 - pair of gloves for DS1
£1.00 - DVD cleaner
£2.38 - ear drops
£35.02 - Morrisons (forgot to add this yesterday!!!)
£17.00 - DH for dentist
£8.98 - 2 x pillows / batteries
£8.99 - DS2 - some cable thing for X Box
£11.73 - Morrisons, Saturday

Grocery budget: £220.00 / £77.97 remaining
Petrol Budget: £110.00 / £54.50 remaining
Everything else budget: £152.23 / £53.27 remaining

OnePoll: Balance £12.80
Mystery shopping: Nowt new.
Lightspeed: 45 points
Toluna: 33250 (didn't have time to visit yesterday).
Advantage Card Points: 846.

GRRRR - no post so I still don't know what APR A&L are offering me!

DH went to the dentist and not only does he need work doing in the £46 treatment band, he also needs work doing in the £198 referral band. MARVELLOUS. That looks like it's the rest of my car fund blown then.

Can forsee I will possibly go overdrawn again this month as I only have £6.24 per day left (after petrol) for groceries and everything else. Will just have to try and aim for a few non spend days / cheap meals

Intergalactic_Floozie

WOOHOO - (well, don't know why I am celebrating extending my debt for another 14 months) but curiosity got the better of me and so I phoned A&L to see what APR they were offering me, and it's 7.9%, which I was surprised about, as I expected it to be higher. So over 5 years that's gonna be £297.46 per month, which gives me breathing space of just short of £250 per month.

Things I can cancel if the going gets tough (ie when mortgage rates start to rise); College (£65), sky Sports (£21), try cut down phone bill (£3), CC should go down by £8 also.

Extra money:
1. My increment in April will be worth about £24 per month.
2. Tax credits will go 'back to normal' in April, which will be an extra £5+ per week.

Plan to carry on spending as little 'everyday money' as I can. Keep groceries at £250 and petrol at £110.

Keep up to spending diary and try to pay off credit card with as much on 0% as I can.