my debt diary....(yeslek)

James240

Annie_Fanny wrote:

I totally agree with James240....if you don't believe us have a look at Martin Lewis' say on the matter. If that doesn't convince you nothing will...

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103213261,45760,

I was trying to look for that link annie but i couldnt cos im at work and got to much to do at the moment :rotfl:

yeslek

no i do see what your saying but i'm not risking falling flat on my !!!!!! is i should lose my job - its that unsecure.
its not a question of interest vs debt.
my savings are my bumper should i fail to survive the next 'redundency' scare.

whats good is it being £117 better off for the sake of a few months if i was to be jobless?

i'v found an old savings account with a bank i was with when i 13 that has 19.52 in so i'll clear that out an put that towards my halifax card.


- i'm also going start the ball rolling in reguards to unfair bank charges. i'll print out the letter later and get it posted first thing tomorrow (may only be for the odd charge or two but its better in my pocket than the banks)

James240

If you paid those off now though mate u would only have to pay out £636 and this would still leave u with £644 in savings and a £117 a month better off

yeslek

i appriciate what your saying i really do but fact is i fell on my !!!!!! once before, and i had no savings behind me - i'm not willing to make the same mistake again.

as long as i have peace of mind that i can cope for 2 months then i'm happy with that. (it took me 6 weeks to find this job after argos)

this is why i'm using half my uni loan to pay off what i can, in this instance my first priority (according to snowballing) should be my halifax credit card, though now i'm starting to think i should put the other £500 to ford and currys?

Annie_Fanny

Have you got a student current account - they give you 0% apr overdrafts...

What's the APRs on the following?
currys pc
ford car credit

yeslek

i'm not sure, i'v just got home and i'm trying to dig out the paperwork now.

i dont have a student a account but dont like the idea of living in an overdraft to be honest.

though thinking about it, short term for the car and currys it might be worthwhile

James240

yeslek wrote:

i'm not sure, i'v just got home and i'm trying to dig out the paperwork now.

i dont have a student a account but dont like the idea of living in an overdraft to be honest.

though thinking about it, short term for the car and currys it might be worthwhile

If u have any excess money spare even from ur student loan i would certainly put it towards paying these off quicker how much do u reckon u will have left over from ur student loan?

Annie_Fanny

yeslek wrote:

i'm not sure, i'v just got home and i'm trying to dig out the paperwork now.

i dont have a student a account but dont like the idea of living in an overdraft to be honest.

though thinking about it, short term for the car and currys it might be worthwhile

Yeslek - I feel like banging my head against a wall! Let me give you a hint. Open a student bank account. Get the free overdraft - they usually give you between £1k and £1.5k at 0% APR. Ring up Halifax and pay off your credit card using the 0% overdraft. Thus ridding yourself of a gut wrenching 19.9%.

To further illustrate this. I have a student account with Lloyds with a 0% APR overdraft. I also have a credit card with LLoyds which charges 18%. Where do you think my debt of over £900 is?

Get it?

James240

Annie_Fanny wrote:

Yeslek - I feel like banging my head against a wall! Let me give you a hint. Open a student bank account. Get the free overdraft - they usually give you between £1k and £1.5k at 0% APR. Ring up Halifax and pay off your credit card using the 0% overdraft. Thus ridding yourself of a gut wrenching 19.9%.

To further illustrate this. I have a student account with Lloyds with a 0% APR overdraft. I also have a credit card with LLoyds which charges 18%. Where do you think my debt of over £900 is?

Get it?

Easy Annie :rotfl: Although i will have to agree with Annie yeslek if ur able to get a 0% overdraft you will be able to pay off more of ur debts than if u are paying interest on them as well

Annie_Fanny

James240 wrote:

Easy Annie :rotfl: Although i will have to agree with Annie yeslek if ur able to get a 0% overdraft you will be able to pay off more of ur debts than if u are paying interest on them as well

Oh sorry Yeslek if I am a bit heavy handed with my advice....but it is good advice all the same!