GTD's DFW Diary - Getting Closer to 40...

hypno06

Pay it off a credit card!!!!!!

In a REAL emergency you can always use the credit card again, in the meantime it is saving you more interest than it would earn in a savings account.

Pay it off! Pay it off! Pay it off! (got the message yet?) Pay it off! :rotfl:

GettingThingsDone

Hmmm, you're being a bit ambiguous there hypno... I'm still not sure what to do. I'll wait until someone comes along some clear advice

Ok - I'll do it (if I get it). Actually I only have one card; for some reason the other one hasn't been renewed, but I've not chased it up.

Thanks Hypno - keep on my case

hypno06

GettingThingsDone wrote:

Thanks Hypno - keep on my case

Oh, ok then. But only because you asked me to.....:rolleyes:

GettingThingsDone

Had a long-ish chat with OH about her debts. I roughly know what she has outstanding in loans, but no idea as to credit cards and overdraft. She really doesn't want to tot it all up - I think many of us here know the feeling. I tried to explain the LBM thing, but I think you've got to get there yourself.

She's a brilliant moneysaver in so many ways (e-baying clothes, shopping, cooking etc), earns a good salary (multiples of mine) but due to one thing or another (you know how it is) she's in debt. Anyway, I'll keep chipping away in a nice way She has been quite surprised that I've taken my bank charges claims so far and is seeing a big difference in my attitude to money and life.

This DFW lark has really made a big difference in my life - thanks everybody!

Back to today: It is going to be a spend day - I need to get some food in and pay some of the cc debt off. I have set the ideal amount at £400 per month (using the snowball calculator) which should clear the cards in about two and a half years; ideally over that time, I'll be able to bung some more in too (always the optimist!).

I keep checking for my bank charges being refunded, but so far nothing... grrrr c'mon already.

I've been reading some of the new posts - some really sad situations out there; sorry for clogging up DFW with my diary and feel free to 'bump' your posts up over mine to make sure you're getting the help you need from the good people on here...

Time for work!!!

GettingThingsDone

I've had my application for a Capital One 0% card rejected. Not a massive suprise I suppose, but it would have been nice to transfer some balances off my 17 - 18% cards.

Also, forgot about another £300 that I owe from the over Christmas period which is going to hit my goal of £400 to the credit cards this month.

Grrrr. Oh well, gotta keep up the hard work. Which reminds me, I'm going to start my spending diary off again - too many surprises this month...

GettingThingsDone

OH has just done the first draft of her SOA. Yikes. LBM. So proud of her. The debt number is big. Bigger than I thought. About 2x bigger.

However, snowballing has shown a way forwards. WE WILL CRACK IT!!

GettingThingsDone

The big number is £xxK I'm so glad that I've been coming to this site - at least I can see a way forward. Convincing the OH that there's a way forward is another thing altogether.

By snowballing £1K a month we managed to get the credit card part down to 2 years which to me was fantastic. Oh, I just wish I had the cash to give her, she is sooo down about it...

hypno06

I am sure you remember how down you felt when you first realised how much you actually owed. However, once you start concentrating on reducing it and making a real effort to pay an extra bit off here and there, it generally feels quite liberating and you can feel good about what you are doing.

So, by understanding what your g/f is feeling, you will be able to support her. Also, you can truthfully tell her that it does get better.

You also have the ability to work together to get through this, learning along the way and making sure that your future together is financially healthy.

Good luck to you both. If g/f feels the need for help, we will be happy to give her the benefit of our amazing combined wisdom

GettingThingsDone

Thanks hypno06 - I suppose I got what I asked for. I just hope she doesn't track down my posts on here

I'll speak to her later to see how she's feeling.

GettingThingsDone

Good morning all!

I'm still waiting for my bank charges refund. Got rejected for a 0% Capital One card so I will write to the appeals department - anything lower than 18% will do at the moment. Yes, my cards are stupidly high interest, but I can't get anything much lower despite my credit reference file not showing anything too dodgy.

Sooo much work to do and I'm going to be late this morning - too addicted to this site