Getting shut!

DD265

No better at updating this but I am feeling better about my finances!

Step 1 - come clean to my parents.
They weren't actually surprised (more that I hadn't told them than that I had debt) and I have made the same mistakes that they did. They haven't bailed me out - and I wouldn't want them to even if they could, although it would've been nice if I could've had a break from paying rent for a couple of months - but they have supported me in other ways, for example Mum gave me a load of old clothes to sell on ebay.

Step 2 - check my credit reports
Lloyds told me that they were increasing my credit card interest rate due to a change on my credit reports - increasing it to 29.9%! It's currently 24.9% which it turns out is high anyway. Credit reports are all excellent. :cool:

Step 3 - balance transfer onto a 0% credit card.
I have virtually (£28 ish outstanding) cleared my student credit card and stuck it on a Barclaycard Gold instead on a 0% deal. They gave me a £3k limit too so my used credit is no longer all of my credit. The card is staying at home.

Step 4 - Let your car get hit by a lorry
This is the reason I told my parents in the first place - had a run in with a lorry. Nobody's fault really and just one of those things; he was on the wrong side of the road to make a turn, I was inching out of a blind junction and he caught my front end, but because he was already in position he wins on a technicality. Insurance company is aware but currently waiting on a quote for the repair to the lorry's headlight. If needs be, my insurance company will handle the lorry for me. If it's affordable, we'll handle it outside of insurance and the insurance company are happy with that!

Step 5 - Quote for repairs to the car
I have a R-reg Fiesta. It's worth £500 max, the repairs will be £400 as it needs welding. However I weighed up the options and opted to get it fixed. If I bought a "new" car, I'd end up with something the same age but twice the mileage which needed it's clutch/brakes/suspension doing. I've already had that lot done. Public transport - it saves the big costs but costs more on the day to day, not ideal for work and add in an extra hour (minimum) travelling each day on top of long office hours, it's a bit naff.

Step 6 - Sell Sell Sell
I have had two big listing sprees on ebay. The first was huge and I took in £200, but ended up with about £120 after fees, postage etc. I'm still doing everything free postage to bump my stars in that area - working like a charm. Second spree was listed last night. Already have two bidders on my most expensive item - a horse rug which started at £60. I also sent a couple of mobiles into Mazuma. It was only £6, but £6 that I didn't have before!

Step 7 - Car Insurance
Typically, my car insurance was up for renewal. Aviva (current insurers) offered me £527 if I paid up front which was about the cheapest I could get, give or take about £20. I managed to get it for £539 paying in instalments.

Step 8 - Alter Standing Orders
I need to call the bank and do my loan, but I moved my standing orders forward from the 5th to the 1st. I get paid, have two weeks of feeling like I have money, and then get a shock when everything goes out. I think that using the money sooner will help to keep me on the straight and narrow.

Step 9 - Dip into the horse's savings
Another vets bill - this time for routine annual treatments but it still cost me twice as much as I was expecting and totalled £170. We had about £400 in the bank for the horse from selling our trailer, so used that to pay for it. Taking another £200 to put towards the car. Bit bummed about using the money, but it was there for emergencies.

Step 10 - plan for next month
I can't do too much at the moment because next month I am faced with the car's MOT. It needs new back tyres (estimate £120 if I get new as opposed to part worn) and I'm sure there will be something else. MOTs always set me back approx £150-180.

Generally then, I'm not sorted but there's a plan and it's looking OK.

The kicker just now is that this morning I broke a tooth which has been repaired before. It's going to need crowning (front tooth none the less) and a crown on the NHS is £209. Gutted, but at least I have space on both of my credit cards. Two weeks ago I would've been screwed. It's not ideal sticking it on there and it's the last thing I want to do, but I have had a lot of teeth troubles this last year and I do not want to risk this break getting painful.

DD265

I'm feeling a bit miffed money wise tonight!

Referring to step 4 above, I decided that as the costs came in at just under £610, I would handle the cost of the lorry repair myself rather than be stung by my insurance in November '13. Partly because I know that I would prefer to have it over and done with and not be slapped in the face with it at renewal, but also because next November I will have 3 years no claims and can protect them.

The question was how to pay it? They couldn't accept cards, only bank transfer or cheque. That required having money in my account - certainly not that quantity, I don't have that left after my usual bills go out.

I spoke to the bank and they said that I could potentially increase my OD (didn't say by how much) or I could take out cash on my credit card. That got me thinking, so this is what I did:

Take out £500 cash (1/2 limit max, so the rest had to come out of my salary, but I did put the tyres on CC to compensate) on my Lloyds credit card and paid it into my current account. I got paid yesterday, so I rung up for the bank details and have made the transfer tonight. Then I have arranged another balance transfer to my Barclaycard for the full amount on the Lloyds card (£650 after fees including the BT fee) so that it's 0%. Once I'm sure it's gone through (I have a worry that it won't although Barclaycard haven't said anything of the sort!), I can forget about it for a while although I think I'll have to up the direct debit to the Barclaycard a bit.

What has me miffed, is that for about 30 hours, my bank account was in credit. And now it isn't. However, it is a sign of things to come! :T

Also a bit worried about the MOT as I reckon I have £200 left after all bills etc have gone out. Maybe we'll hold off on a service as well!

Edit: needn't have worried about the balance transfer, just been on to Lloyds internet banking for something else and the CC is cleared off! That was quick.