Life begins at the end of 41k debt

rachelww1

l.m.hart wrote: »

whats BB4L?

It's big brands for less, an online discount store selling things near or after date,or end of line, like approved foods. It's worth it just for the bread mix (you have to pay a delivery charge of at least £5.25, works on weight). We're using a bag every week and a half, and I bake a loaf each day..think it's about £1.80 for a 3.5kg bag which makes about 11 loaves, you just need to add water so I reckon it's great value even with delivery charges.

rachelww1

Have had a letter today from MBNA saying they are changing the way monthly minimum payments are calculated.

Basically it's changing to 1% of borrowing plus interest (and late fees/other charges if you have them). For me this works out at roughly £25 more a month than I pay now. This isn't optional, this is my new minimum payment.

I'll probably have to pay a little less to barclaycard than I want each month, but the good news is that it should reduce my MBNA debt by a good few months.

Just to warn anyone who's reading, i think this is the way most credit cards are going, if they haven't already.

MBNA have this calculator which works out your new minimum payment. Might be useful for anyone who's worried their minimum payments might change.

Happy valentines day everyone :kisses2:

DebtFree2012

Hi hun

Mine did that too a while back, plus the store card too I think. The sooner we're shot of them the better!

Good news if it's gone earlier but shame Barclays won't be.

x x x

rachelww1

Hi DF

I'm going to try to keep the payments up to bcard and just live off a little less money :eek: But yes, it is good that it will be gone sooner.

Last loan payment of the month has come out today bringing my total debt paid off since Dec to £8935 :T. Pretty sure I won't be able to make any more payments this month, but I'll keep looking to make sure.

chevalier

interesting that that change increases your payments. Well done on the overpayments that is ace.
chev

rachelww1

Car insurance paid last night, lump sum of just under £270, including breakdown cover, replacement car hire and legal fees. This is the first time we've ever been able to pay it in one go. It's a nice feeling, and one less direct debit to worry about

DebtFree2012

Fantastic - that must be such a great feeling.

I'd need to rob a bank to pay off what you have since Dec. I don't even earn that much let alone have it to put to debt lol!

x x x

garfield44

Well done Rachel - Keep up the good work. That balance is coming down nice and quickly.

Great news about the car insurance. No interest on it aswell which is great.

x

rachelww1

Week off.....:j:j. Was busy baking with DS6 yesterday. Made some twinks and I think we ate about 12 between the 3 of us last night . Gone over grocery budget already this month, but I have stocked up a lot and I'd forgotten about half term.

Thanks to whoever mentioned the sky rewards, I'm taking both boys and a friend of the youngest to see alice in wonderland in 3d on Thurs, and it's only going to cost me £5. Will buy a bag of sweets from T$scos I think, as I'm not going to be ripped off when I get there.

Spent too much money at a wedding reception on Sat, but a good time was had by all, so not too worried. No money left for debt busting this week tho. Well there is as I've managed to pay off £1000 of the overdraft, but I want to keep it that way as the overdraft is the next thing to tackle after barclaycard.

DebtFree2012

Hi hun

That's fantastic re OD and great you had a good time over w/e.

I am off on Wed - wish it was all week but I only came back to work in Jan and having April 2 weeks off so thought it best to hold my horses!

Do you have 2 wages paying off your debt?

x x x