newbie with ideas

Tagsy87

hey first post in this section, i currently have 2k of debt but have worked towards reducing my outgoings. i have quit the gym and put a punch bag in my garage and got a bike to take to work so am still in shape, i am trying to change to a credit card with a good balance transfer rate with no avail. i get my stuff for lunches from costco spending 30 pound for 2 months lunches and as soon as the lighter nights come in i am planning to cycle to work. does anybody else have any ideas of ways to save?

Tixy

Hi Tagsy.

Sounds like you have made some sensbile savings already.
Have you looked at whether you can get better deals/drop to a cheaper tariff on items such as your mobile phone / internet / sky (if you have it)?
If you pay utilities have you checked you are with the cheapest gas & elec supplier (and tried cutting your usage).
Have you checked any insurances are the best deals? and if you switch any of these items try looking to see if you can earn cashback (from sites like quidco/topcashback).

Although not strictly saving - do you have any items you can sell to put towards your debts (either online on ebay/amazon/gumtree) or through a carboot sale?

Regarding trying to get a new card - have you obtained a copy of your credit file? Are you on the electoral roll? have you had any late payments? As a word of warning, don't keep applying for cards if you are declined as these applications mark you credit file. Its advised not to have more than 3 applications in 6months. Depending on who you bank with (and how well you have run your account) these can sometimes be a good place to go to try and get a promotional rate card - see if your bank is on the list http://www.stoozing.com/0fees.php

niccatw

I think Tixy's got it all covered! If you can do those things on top of what you are already doing, then you'll have thet 2k paid in no time!

If you get to the end of the month and wonder where it is your money has gone, then a spending diary really does work wonders for curbing those wee impulse buys that add up (nipping into the shop for a paper and some gum, grabbing a coffee on the hop, another top from the charity shop - that's my particular one. I'm guessing perhaps not yours ). When I'm strict about keeping mine, I cut out all uneccessary spends. When I'm lax, they creep back in!

Also, if you've any spare time, a second job would only need to be a temporary measure to help pay that off. I get an extra £233 a month - which is supposed to go straight to my debts when I don't need to pay out to electricians, plumbers etc...

Good luck

Tagsy87

i should have mentioned phone i recently for the new year looked into it and cut £15 a month off my bill. i need to check how to obtain my credit file as i have never had a late payment and always pay my card a few days early to ensure that if there are any problems they can be sorted. i got rid of a lot of junk car bits etc on ebay last month still got a few things was very surprised tbh sold a pair of lights for 80 and i thought i would be lucky to sell them. i dotn spend any money during the week as i work and take my lunch in and use the net at breaks rather than the paper. how can i become more clued up on the workings of the cashback sites? clothes arent really a problem as i found sites that always have sales and my friend work in shops so let me use there discount so i rarely pay full price

Tixy

http://www.moneysavingexpert.com/shopping/cashback-websites This article should explain a little more about the cashback sites. Sounds like you are doing well though.

Tagsy87

is there any point in finding out how much i owe on my car and getting a loan for that amount? can i pay a loan off quicker and will there be a lesser interest rate on the money owed on the car

dancingfairy

Hi Tagsy - sounds like you're off to a flying start - basically the way to be hardcore moneysaving is to question all your bills and expenses - and see whether you really need to be spending on item x,y,z , is it good value for money and can you get it cheaper - do this for everything and it soon mounts up - although you've done quite a bit already.
With the car - I guess it's on some sort of finance from the dealership? The thing is - if you already been applying for credit recently and being turned down it makes it less likely you will be accpeted for something else - also not all loans allow overpayments. I suspect that you may be stuck with the car finance for now. You could always write/ring the finance company and ask for a settlement figure though I guess. Perhaps in 6 months time it may be worth trying to get new credit for the car? although it does depend on how much interest you are being charged now and if you were offered a decent rate really and whether it was for a loan with overpayment facilities.
Sorry I can't answer the question better.
df

Tagsy87

i see what you mean about the car, it is from the dealership but santander took over the company i made payments to and sent me alot of details about interest etc and my bank seemed pretty keen to give me a loan put i dont want to cancel one debt to have more in the long run. i want to pay off the car in 2 years with over payments and then put away for a mortgage as i am just turned 22 and dont want to rent as it is paying someone elses mortgage in my opinion