Can i afford to overpay?

staffie1

skaps wrote: »

What would i do then about the £5000 i have to pay in May for the wedding? I don't really want to put in on a card as thats how i ended up in this situation in the first place?

You need to either earn it or postpone the wedding until you have the money if you want to get out of debt. (Or win the lottery). I can't see any other way.

skaps

No

Thanks for all your replies. Am not going to overpay until all the CCs are sorted out.

Debt_Free_Dreamer

This has got to be the daftest poll ever. Without a SOA how can anyone answer the question??

Debt_Free_Dreamer

"Can I afford to overpay" - I don't know... "Can you?"

Button21

Hi skaps,

Is £5000 the total cost of your wedding or just your contribution??

Is there any way you could post a breakdown of your anticipated wedding costs?? I got married a couple of years ago and could try and give you some advice on how best to have a fantastic day, but not cost the earth, as could alot of the very helpful members on here.

If you can, post your costs and we could give you some advice on where to cut back.

A wedding is lovely, but not meaning to dampen your special day, it's just one day which passes in a flash and can still be lovely without breaking the bank and which you end up paying for for a very long time.

Hope to hear from you.

Button

skaps

No

Thanks Button we are getting married abroad and have £5500 left to pay. This is not just for wedding, but for our honeymoon too. I won't have to buy a wedding dress as my Mum bought a sari for me which im going to wear and hopefully one of my fiancees relatives will buy him his suit.

Button21

Skaps, you can only change your situation if you make some dramatic changes to your lifestyle and spending habbits. It's difficult sometimes to be able to see things differently, and we all try and justify why we do things, ie a wedding is (hopefully) a once in a life time event and why shouldn't you have a fabulous one, but if it means you are worrying about it the financial implications, where is the happiness there?

The fact that you have came onto this board, and are looking for advice perhaps is a sign that you are possibly uneasy about things, and just looking for a little help. You've definately came to the right place - if you feel brave, post an income and expenditure for your month and you'll get loads of constructive advice.

Button

Button21

skaps, you need to post your income also to get a clear picture of your financial situation.

Debt_Free_Dreamer

Your Sky bill seems very high at £62. What does that cover, do you really need a package that high?

What is the Alarm at £25 per month?

jamesd

You can't afford to overpay. You need to save that £5,000 or get a 0% for purchases card with a nice long deal that you can use for day to day spending and accumulate savings. 0% balance transfer card deals also look like a good move to cut the cost of the existing borrowing.

New legislation is planned that will require credit card companies to apply payments to the most expensive borrowing first. No telling yet when it'll become law, it's currently in consultation as part of implementing an EU law.

You can think about overpaying on the mortgage once you've cleared the cards and accumulated savings sufficient to pay at least six months, better a year, of your living costs. Money overpaid on the mortgage can't be used to pay the mortgage payments and bills, money in savings can.