My SoA

mrsspendalot

miss_missy wrote: »

i would leave the other overdraft alone at present because you can manage to reduce the higher aprs fairly quickly and its always good to have a back up incase of an emergency

That's my thinking in keeping it there - feel much more comfortable knowing I have a safety net.

Plus my ex should hopefully be back in work soon and the maintenance will start rolling in again, which coupled with the tax credit rise next tax year should substantially increase my income. I'll remember to re-do my SoA when that happens and re-evaluate the options.

Thanks to everyone for your suggestions so far

miss_missy

you say charges for the overdraft are you over you limit?

i agree discuss it with DH maybe if you explain how you could pay off other things which in the end will cost more in interest if you dont he will see why i suggest what i have, he may have a better idea

well done on the shopping i find that i set my shopping budget for the month share it by the number of weeks that month and withdraw 1 weeks money do my shopping that week and at the end of the week see how much is left and then go straight online and pay that amount to a credit card then withdraw the follow weeks money minus what i have left from previous week
eg week 1 : withdraw £60 spend £50 week 2: withdraw £50 as i still have the £10 in my shopping purse (i have a purse that i use for shopping only)

this way works for me and i like the challenge of having something left at the end of the week

good luck

mrsspendalot

No not over limit - the account carries a £12.95 a month charge, but DH won't cancel the charge as with the account perk carries lower interest rate, and if the interest rate went up, we would have more per month to pay in interest - so he thinks no benefit to cancelling it at the moment while the balance is so high.

Shopping: this month I withdrew £300 cash and that was to last the whole month for groceries, parking, petrol etc. Not doing too bad - have 1 week left, have shopped for the week and put petrol in car and have a fiver left.

miss_missy

hi
yes it will mean its probably less at the moment but once you get it to around 2500 i would drop it because the interest + charge will prob be about the same and you could pay the £13 extra to paying off the overdraft
because your paying the 12.95 a month i can see why you want rid of this debt
however if you throw your extra 244 and your 50 clothing budget at this and 10 from paying off capital one card it will take you around 15 months to pay it off and then youll still have all the other credit cards which will all be charging interest which will probably up you min payments to them anyway

well done on spending less

mrsspendalot

miss_missy wrote: »

hi
yes it will mean its probably less at the moment but once you get it to around 2500 i would drop it because the interest + charge will prob be about the same and you could pay the £13 extra to paying off the overdraft
because your paying the 12.95 a month i can see why you want rid of this debt
however if you throw your extra 244 and your 50 clothing budget at this and 10 from paying off capital one card it will take you around 15 months to pay it off and then youll still have all the other credit cards which will all be charging interest which will probably up you min payments to them anyway

well done on spending less

Thanks! You're right ..... cards it is!