need advice on what to pay some extra cash to?

littlepinkstars44

I raided my money jars there, and i have £98.70 that i've accumulated in change since January

I am going to pop down to the bank later and put it in my account. But i am stuck as to which debts it should go to, and how to split it up.

Here is what everything currently stands at:

Topshop card: £175.00 29.9% (limit is £250)
Dorothy Perkins card: £224.70 29.9% (limit is £250)
New Look card: £100.00 28.9% (limit is £125)
Kays account: £80 (no APR, limit is £1100)
Very account: £369. 38.9% (limit is £1800)

If anyone could help me choose the best way to split up the £100 that would be great!

Tixy

LPS

Nearly always you should go for the debt with the highest APR - so based on the debts listed above the Very account.

In your case however it might help to clear a debt and close an account so that you cannot use it anymore. In that case as an alternative you could pay off the new look card because you could then cut up the card and close that account down entirely (subject to finding an extra couple of quid).

true27

Hiya!

Usually the advice is to pay off the one with the highest APR first, but it may feel better to completely clear the New Look card and reduce the number of debts! Or chuck £20 at each of them, whatever makes you feel better!

Well done on saving up too!!

littlepinkstars44

thanks, i forgot to meantion that £250 of the very debt is on a buy now pay feb 2011 deal. so there is no interest on that amount

littlepinkstars44

or maybe i should use it to pay for the dental work i need. Havent been in over 4 years, but last time i went he said u needed about £45 worth of stuff done, never went back since i couldn't afford it.

Tixy

Have you tried to apply to the NHS low income scheme for help with your dental costs? You might be eligible given your low income.

http://www.nhs.uk/chq/Pages/1786.aspx?CategoryID=74&SubCategoryID=742

littlepinkstars44

yeah i done that, and they sent me a certificate out, saying that i can claim once i have paid up to £140 for one treatment.

So i have to pay the first £140 myself, anything more the nhs will pay.

josephine82

I'd pay off the New Look card if you can find the extra two quid. Then CLOSE the card.

Then whatever you were paying monthly to New Look pay to either Very, Topshop or Dorothy Perkins.

For me, paying off my debts one by one really helped to keep me motivated.

And remember, the Very stuff might be on buy now, pay later, but you still need to make the payments so you don't get stung with the interest later!

miss_missy

hi
id pay off the new look card then close the account then the money you have from the new look monthly payment pay towards the very every month
also just a little pointer dont leave the money jar so long next time do it at least every month even if you only have a couple of pound pay it towards one of the cards immediately as it will mean you save a little in interest
i put the change i have left at the end of every week towards one of my cards most of the time its only a couple of pounds but its always nice to see the debts coming down a little and saves a little not much but a little in the amount of interest you pay to the debts its a bit like the payment a day that others are doing on the forum

take care