My Debt Diary

Sammz

I know it's a small amount of debt compared to many others on here but it's been hanging around for quite a while and stopping me from saving/borrowing to renovate my flat. Plan is to pay off CC by April then overpay/save and hopefully get rid of car loan in summer.

I used to pay about £20 a month to the card thinking that it was all I could afford. I knew I should have quite a bit spare once my bills had been paid but it never seemed to work like that. Since coming here and deciding that I want it paid quickly I've paid much larger amounts.

So, today I've made a £155 payment! And the best thing is that none of it was wages. £50 insurance cashback, Amazon sales and the rest money I've made from Avon.

It's great to see my totals in Egg Money Manager. Usually it's +£100 and -£800 but it's quite a bit closer together now

I'm going to use this thread to ramble and keep me motivated.

taxi73

Hi and welcome to the forum..well done on what you've done so far...it always amazes me how much money gets frittered away without us even thinking about it...now you've discovered where it all goes you'll soon have it cleared...I look forward to reading your diary ..it's the right thing to do...mine really keeps me motivated...keep up the good work!!

Sammz

Drat, don't you just hate it when debt you know about but don't think about comes back on the scene?!

Factoring account is £110.17. Will likely pay in two installments so not sure I'll pass my CC challenge. The factors have given up our complex and not enough people are wanting a the new company to take over - 72/78. I do hope another 6 flats want factors as I dread to think what state the place will end up in. At the same time a few months without paying is handy. Will set up direct debit in new year.

Also have to face up to a large electricity bill in January as well as the fact there is still money to pay for last year. Will call and up payments as well as make extra payments when I can afford to.

Sammz

Doh!! Can't believe I did that. What a numpty!

http://forums.moneysavingexpert.com/showthread.html?t=331086

Another £15 on transfer fees. Thought I was done with them. Oh well, least the Amazon £25 voucher will make me feel a tiny bit better about it.

Sammz

Works out more to transfer to new card so working even harder to pay off this one. I hate paying interest, even a couple of quid a month!

I've got £75 on the way from Quidco and £5.57 from Amazon BUT the exhaust on my car has a hole so I'll have to wait and see how much that will cost before I add it to the credit card.

New Year's resolution is to work harder with Avon as I'm sure I could be making a bit more. Hoping that iBootSale makes me some money as well.

Just read back that I was going to up payments so written that on my To Do list for this week.

duncans-mum_2

Have you tried looking at a Life of Balance Card with something like 3.9% APR. Would that work out any cheaper overall for you now you have the higher interest building up? M&S&More do not charge a BT fee (or at least they didn't last month)

Sammz

I haven't actually looked at those. If they don't charge a BT fee then that would be the best option financially. I will look in to them and have a think about it. Thanks!

Sammz

And now the washing machine has died....

(Good job I have Christmas money still to use)

Debt seems to be stuck at the moment but expected that with Christmas expenses. Looking forward to payday.

Sammz

oops double post

PoundsLookAfterThemselves

Sammz wrote:

Works out more to transfer to new card so working even harder to pay off this one. I hate paying interest, even a couple of quid a month!

I've got £75 on the way from Quidco and £5.57 from Amazon BUT the exhaust on my car has a hole so I'll have to wait and see how much that will cost before I add it to the credit card.

New Year's resolution is to work harder with Avon as I'm sure I could be making a bit more. Hoping that iBootSale makes me some money as well.

Just read back that I was going to up payments so written that on my To Do list for this week.

iBootSale -Whats this?

Sammz

red_ratty_rat wrote:

iBootSale -Whats this?

Bit like Ebay but you set the price and option for the buyer to haggle. There are no fees at the moment as it's new. I have a few things on there but have to admit not sold anything yet. Never sold very much on Ebay either, mind you!

https://www.ibootsale.co.uk