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help! how to manage my repayments??!
ratty123_2
Posts: 1 Newbie
hello!
I am up to the very top of my student/grad overdraft which is £1800. I also have just under £500 on a credit card which i have now cut up. i work in admin but i dont earn very much, so after rent, bills and my phone bill comes out i have just under £500 each month. could anyone please give me some advice on how best to pay off my debts? i find it very hard to have any money left over each month to reduce my overdraft, and i was planning to pay my credit card off by about £30 a month as i cant afford alot. is it a good idea to open a new current account with no overdraft, get my wages paid in there and then transfer a certain amount each month to my overdrawn account? its just so frustrating, as i was in credit on my current account this time last year but due to losing a job and finding it hard to find another job for about 4 months i racked up debt again
any advice welcome please as it is really starting to get me down
I am up to the very top of my student/grad overdraft which is £1800. I also have just under £500 on a credit card which i have now cut up. i work in admin but i dont earn very much, so after rent, bills and my phone bill comes out i have just under £500 each month. could anyone please give me some advice on how best to pay off my debts? i find it very hard to have any money left over each month to reduce my overdraft, and i was planning to pay my credit card off by about £30 a month as i cant afford alot. is it a good idea to open a new current account with no overdraft, get my wages paid in there and then transfer a certain amount each month to my overdrawn account? its just so frustrating, as i was in credit on my current account this time last year but due to losing a job and finding it hard to find another job for about 4 months i racked up debt again
any advice welcome please as it is really starting to get me down
0
Comments
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Student overdrafts tend to stay interest free for 2 years after graduation but drop in limit by £500-1000 a year. How much longer do you have left?
As the CC charges interest, focus on that first.
On your above statement you sya you have £500 left, if thats the case your fine, however i feel you are spending more so post an SOA - http://forums.moneysavingexpert.com/showthread.html?t=107280Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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