Regular Ramblings from LookingAhead

postingalwaysposting

Hi LA, I think the 0% cc is a fairly good idea. I know you arnt wanting to give up your OD but maybe if you reduce it to something like £50? As you say though wait and see if your bonus comes through and then go from there. If you do get your bonus though what will the impact be on your debts/overdraft?

LookingAhead

Hiya PAP!

Bonus...

I am not sure how much it will be yet, I will find out next month. It could be anything from £200 to £500 although I think the latter is unlikely!

But that aside, and working on worst case scenario, if I have done my sums correctly (ha!) then after July pay day then my overdraft will be hammered down to about £300 or so.

If I have a good month at work in July as well, then it might be down to zero or at least no more than £100 by September. But it really does all depend...I can't take anything from granted.

I am going to hold off doing the Virgin thing for now...perhaps I will see how things are after the wedding.

I will reduce the overdraft before the end of Summer - it is just a question of how much to.

On a completely separate note....I am gutted about Michael Jackson! I went to see him in concert in 1988 and it was wicked and I liked all his stuff up to & including 'Bad' (showing my age now!) so I was feeling a bit sick this morning when I heard the news.

What a shining example of how we're all human and it's all about enjoying your life and not to take this money lark too seriously.

hypno06

LookingAhead wrote: »

Thanks hypno - I know you are right about the cancellation of the overdraft should I get the Virgin card. I don't think I have the guts to cancel it completely because I always think I want enough to pay one months mortgage if I had to which is about £500.

the danger would be that you keep a £500 overdraft limit, but that you use it for other "emergencies" and should you need the money to pay one months mortgage, there will not be the funds available to do so.

Why not save £500 in a savings account for your emergency mortgage payment? When you have got that, then apply for the 0% card and cancel the overdraft completely (well, apart from £50 just to account for miscalculating debits!).

LookingAhead

hypno....that's a fab idea.

Why does the blindingly obvious always seem to pass me by completely undetected!?

THANK YOU.
x

postingalwaysposting

Hope everything is well LA :j

LookingAhead

Evening all. So who stole August then? I'm terrified of how quickly this year is going!

Quick update anyway...

Overdraft is gone! I didn't apply for the Virgin 0% card in the end, work went well for two months running (for which I will be eternally grateful) and this has allowed me to get into the black for the first time in ???????? months. I couldn't really tell you.

I have paid a bit more off credit card and that is due to be paid off fully at the end of September.

Which will just leave my loan - yipeeeeeee! I am going to be saving hard between now and January to see if there is any chance at all for me to pay it off early. It is a long shot but I need something to aim for.

God if I could be debt free at the end of January I would be so so so happy. Stating the obvious though I know.

And lastly....I am getting married very soon...! I will update you on that in due course. If you wanna know that is!

Bye for now & thanks for reading.

LA x

hypno06

Well done on getting rid of the pesky overdraft - I take it you have cancelled it now? And to be debt free early next year is more than achievable for you!

As for the wedding - nah, why would we want to know more :rotfl: