overdraft

alohahawaii

sorry im new to this SOA? statement of accounts?


im looking to change my job for one closer to home as i our company moved bases. that will save me 1200 a year in petrol!

alohahawaii

Here's my SOA:

*Overdraft - £500 (will probably be maxed out when i get back from london/clothes show, on -300 now) I've cleared my debts before with a bonus from my old job. But with Barclays internet banking there is now an option for pre approved overdrafts and when i increase it a little.. they offer more and more. (does anyone know how to stop this pre approved option, too tempting!!) Bank charges were £6.50 a month on a £250 overdraft. so not sure what the % is.

Cancelled all credit cards after clearing everything off last time.

*Gym membership due to end - last payment january £54.25 a month (urghh!) -dont even go anymore.

*car insurance £29.00 a month

*petrol £100 a month

*rent to parents £160 a month

*ING direct debit £20.00 a month

- - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - -

*Premium bonds £1900 (saving for a car) I've been told to move them into a savings account as i'm not likely to win. not sure what to do as with prem bonds it takes 2 weeks to get money out, therefore i'm less likely to spend my savings on clothes and things I don't need.


*Wages - get paid weekly. works out at £800 a month
(hoping to change jobs for more money and one closer to home as our company moved base. i'm travelling 50miles round trip and spending £1,200 on petrol a year. as before the move i was spending next to nothing.)

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Got back into overdraft as I went overdrawn from pressing the wrong button at the cash machine (was told by barclays that I'm best to have an overdraft because not having one and going overdrawn end in bad credit) Then I decided I needed a new matress.. the list goes on.

Also with overdrafts.. if its there I'll spend it...
i'd love a debt free life!

thanks
x

CLAPTON

fortunately your overdraft is quite small and living at home you have the opportunity to save money rather than be in debt.
you would do well to keep a spending diary ...that is a list of absolutely everything you spend and see where everything goes.
you can always ask (tell) barclays that you dont want an overdraft facility but you would then need to make sure there is always a positive balance in the account.

alohahawaii

I just want to nip it in the butt so to say, before it gets as bad as last time...
about £4,000 and i left my job!

alohahawaii

justruth wrote:

it depends on your interest rate and how much you owe. Best advice for clearing it is post you SOA and let the rest of us rip it appart, and advise on how you could save money to pay it off.

I'd just like to say i'm amazed at the money you've got back from banks!
i might have to give it a go!