A Payment A Day - Part 8!

scoobylicious

clearing_out_my_pockets wrote: »

Welcome to the [STRIKE]family[/STRIKE] madhouse!

Thanks for the welcome! Just the whole facing up to debts thing now.........:o

Paulgonnabedebtfree

angelicmary85 wrote: »

Thanks TomTom,

The TC and CB usually goes on food for DD as she lives on a diet of super noodles, pork pies, sausages and turkey drummers/dino's - all of which aren't cheap so she usually gets about 80% of the cash anyway.

Thinking a bit more about it, I don't have a problem raiding their banks, I've got a problem feeling guilty until the money is safely back with them...they're both far too young to know there's cash there which eases my conscience a little!!

That's 2 votes for and 2 votes against so far...will hang fire and see if a 5th person is willing to break the tie!! :rotfl:

The view I would take is: Who would you rather pay the interest to the credit card company or your children. If you feel guilty about borrowing from them, make yourself a promise that the interest you save by paying off the debt will be repaid to your children. So does some greedy, rip off card sharp get the interest or do your kids get it? IMO it's a no brainer really .

Paulgonnabedebtfree

While I'm still up late for a change, £1.20 PAD for Saturday please.

mooomin

Morning all!

£2.80 for me today please.

gilligansyle

Morning all

PAD of £3.89 to the cc's please C O M P.

Angelic your children will have a better life if you are debt free.
Martin says that as interest rates are so low for savers anyway at the moment, you are better paying that money off debts. Your children are too small to know that money lives in a bank and gains interest. Its the stuff that buys treats in shops.
I never considered CB etc. to be childs money anyhow, it was my money to spend for their benefit.
If its the guilt thats bothering you, so long as you put the money back when you can, I don't see the problem.

never-in-doubt

euronorris wrote: »

I think it was entitled 'Police forced entry to our flat', or something along those lines.

Was, quite possibly, the worst thing to do in this instance. Thankfully, thread has been locked and I think a request has been put it in for it to be removed.

Sorry bit late with the uptake lol - Police forced entry to our flat while we were out

never-in-doubt

girlatplay wrote: »

Thanks guys. I didn't really need an answer as such, I just wanted to check that it wasn't me being thick and totally missing the point. I have asked two of my colleagues who also don't understand and when I was on the phone to the guy at MBNA I asked him if he understood and after a slight (but definite) pause he said he did understand but only because he works there and deals with it every day!!

I know you said you never needed an answer, but to benefit others this is called Trailing Interest....

Trailing interest is considered by many to be sneaky and unfair, because it utilizes a method of computing balances that leaves a consumer still owing interest after they presume a cards entire balance has been paid in full.

How this works is that interest is calculated and charged up until the day of a complete payment. If a consumer receives their statement with an end date of, say, the last of the month on the 15th of the next month, they may reflect on the fact that they have made no charges since the 31st, and send off a check for the total balance listed on the bill. Next month, they will receive a final bill for the interest accrued since up until the 18th, when the payment was cleared and the account was credited. Because the creditor calculated the interest this way, rather than on a typical monthly basis, the customer is left owing more after they had perceived the card to be paid off.

musogirl295

£25.57 for me today please

Muso x

SarahNeedle1872

Hiya all.... PAD for the last couple of days is £52.19 - thanks for all the totaling COMP, we are doing some good work again this month

Sx

clearing_out_my_pockets

Yesterday's total was £122.94