Should I Cheat?

southernscouser

Basically by making a £200 overpayment on my Capital One card I will be under the £25,000 mark by the 1st October which would be a great boost for me [STRIKE]phsych[/STRIKE] [STRIKE]psych[/STRIKE] mentally.

I probably (well definately) won't have this money in my account which would mean using my overdraft for less than a week until I get paid but with that pay packet I get a bonus of about £400.

I was gonna wait until I was paid but it will just be a nice feeling to go below £25k within my first year of paying off debts.

I'm swaying towards doing it just for the sake of a weeks worth of interest to pay on the overdraft. :think:

What do you lot reckon?

ZTD

Surely not being able to wait is what got you into trouble in the first place?

tee_pee_2

i can totally see where you are coming from, I would prob do it because sometimes you have to play little games to keep morale going. Granted not very MS if you are paying interest on other a.c but if it keeps you motivated and you like to see your debt reducing then I see the logic.

Mrs_Sparkle

Do it, I would. Your bonus will more than make up for the pennies you get charged for dipping into overdraft. And reaching the less than £25K mark will be a fantastic boost so will probably spur you on to cut it down even more.

Snaggles

You're probably talking about interest of about 76p on your overdraft (based on £200 for 1 week at 19.9% - sort of just plucked the interest rate out of thin air so sorry if its way off the mark!). So if it will really motivate you and give you a great boost mentally I would go for it!

Liney_2

Patience is a virtue!

Jaymz

If you were a true DFW you would hold out that extra week SS

Ali-OK

Hang on until payday SS!!

That "only a few pence charge" on the overdraft is part and parcel of "pennies makes pounds".

Can you set up an online payment today for it to pay out just after payday?

I've just got a payrise with backpay = £300 extra this month...so I've set it up to go straight out to a cc once payday arrives.

Patience man..patience!

Verbatim

Yeah hang on for payday. think how virtuous you'll feel!

bommer

I would wait - what happens if the intended bonus does not go through??? These things happen. What might be *** in interest could cost you lots of dosh. Couple of weeks ago I went into my local co-op and paid with my A&L debit card. The lady said hope you don't work for them cause they haven't been paid!!!! And that was the bank.
It may feel good to do it but even better when you know the money is in the bank.

MoneyMagnet

I totally understand you wanting to reach your big milestone more quickly, but agree with the others that it'd be better to wait. Delay gratification & build those impulse control muscles!