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I'm a spendaholic

which I am guessing makes me not alone on here :-)

My debts are as follows:

A & L loan - £6400
Egg CC - 526.37 (old card expired and I ahven't registered the new one - step one ;) )
Virgin CC - 701.42
RBS CC - 1551.00 (on intrest free blanace transfer til November)
Capital 1 CC - £1040.13

I'm paying the minimum amount to all bar the RBS interest free one, which I am paying £40 a month to.

Thats before I even think about mortgage and all other monthly household bills. (well obviously the mortgage and utilities come first clearly) but I have an insurance policy clearing of £2200, next week. £350 of which I need to give to my dad. So this leave me with £1850. what is the best thing to do with this £1850? should I clear one or two of the cards and shuffle the balances of the rest? should I continue paying the cards off and put the £1850 in an ISA or summat for 3 years

I know the simple thing is to say cut up all the cards, however - I live myself, and I need some kind of back up in case of emergencies.

Any suggestions?
I have no more money to give - all you companies out there - do your worst - I give in!! :(

Comments

  • If you post your statement of affairs (income and total outgoings) others can help you try cut costs and throw more money at your debts.

    Oh and welcome to the boards :D
    DFW Nerd no: 149 ;)

  • Total of £10218.93 as of today's date.

    I need to buy a new car within the next 3 years or so as my current one will collapse and die within that timescale, so I really have to get a shift on and clear this asap.
    I have no more money to give - all you companies out there - do your worst - I give in!! :(
  • Saucepot
    Saucepot Posts: 12,322 Forumite
    Why on earth ae you paying the minimum on interest paying debt and paying off interest free debt?

    Clear the debts on those cards which charge the highest interest, and when clear cancel a couple of the CC's
    I wonder why it is, that young men are always cautioned against bad girls. Anyone can handle a bad girl. It's the good girls men should be warned against.-David Niven
  • Yep agree with saucepot-the extra money should be going on a card you pay interest on,not one that is interest free.
    Debts Jan 2014 £20,108.34 :eek:

    EF #70 £0/£1000

    SW 1st 4lbs
  • gallygirl
    gallygirl Posts: 17,238 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    hello hustler!!! and welcome!!!!

    If you post the ccards apr's we can advise better, but generally speaking get rid of the highest apr 1st. You also need to investigate what the apr will be on your rbs card in Nov, also could you transfer any more onto this card at 0% for a few months (even 3 months of £1000 debt at 16% is around £50, better off getting paid off a debt than paid in interest.

    But as you want help long term you need to post a statement of affairs (soa), see Southern Scousers sticky at the top of this forum. The geniuses will then be able to save you fortunes (well, point you in the right direction......)
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • thanks wanna-be-mortgage-free

    I have the usual outgoings as everyone else - mortgage, gas elec etc.

    I have taken away all the luxuries except my sky football supscription £34, (cos I'm never out anywhere, and I need something to stop my insanity!!!) my mobile phone £30, and my council gym/sauna memberrship.

    Loan is £130 per month
    Capital one - varies, but about £60
    Virgin - varies but about £30
    Egg - varies about £30

    I have a total income of 1250
    Total outgoings of £850

    Leaving me £400 to feed me and get me to and from work each month, and buy me the odd pint!! ;)
    I have no more money to give - all you companies out there - do your worst - I give in!! :(
  • thanks guys - having read the rest of these posts - I will have a good look at my statements and draw up a list of what is incoming and outgoing, and I will post it back on here later tonight.

    Glad to see so many posts, so early on, and delighted there is so much help out there. I forgot to add another "luxury" t'internet - my lifeline :D

    Thanks to you all :D
    I have no more money to give - all you companies out there - do your worst - I give in!! :(
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