A Payment A Day - Part 11!

PigginSkint

Hi All

Today's PADs are £10 and £1.03 to Evil Egg and £1.03 to Crapital One, making a total today of £12.06

PigginSkint

Hopeful1 wrote: »

Had a shock last night - i used the snowball calculator for the 1st time :eek:

Rather than allowing it to depress me, i shall use it as motivation

£10 HFC
£10 Egg
£10 Bclays loan
£7 Cap 1
£5 Cahoot
£5 Vanquis
27p Savings

TOTAL £47.27 please

I love the snowball calculator but it is rather scary at first isn't it! I love playing with the figures - it is surprising how much of a difference just paying a little extra every month makes.

Eager_Elephant

Ooh another day and I am still here :rotfl:

£1.03 to Halifax c/c (for now)

Hopeful1

Eager_Elephant wrote: »

Hi

I have a slight problem and thought I would ask the collective wisdom of this thread.

How can I make the snowball calc work for me when one of my debts has 2 different interest rates?

I know from the minimum calc on here that my Barclaycard will take 35 years and 10 months to pay back and I will pay £13,575 in interest if I only pay minimum payments. :eek:

But my Halifax is still on the old rate of calculating minimum payment so I have to cover the interest and charges plus £5 every month so my debt literally reduces at £5 every month and according to my calculations it will take about 37 years to pay back :eek: but I am not sure what the total interest will be.

I have about £850 being paid back at 6.95% and £1371.78 being paid back at 17.95% so although the interest is lower it will take longer to pay back so should I make my PAD's to Halifax or Barclaycard?

I would start with the halifax, as the interest will be racking up if only £5 of your payment is actual balance. Devils aren't they?

PigginSkint wrote: »

I love the snowball calculator but it is rather scary at first isn't it! I love playing with the figures - it is surprising how much of a difference just paying a little extra every month makes.

You're right, it is satisfying seeing the figures change. I've had to be patient about making payments so far, but definitely want to outdo my current monthly minimum for my overall debt. There's nothing like a mini challenge to keep you motivated

Hopeful1

squeeeek wrote: »

a huge 42p for me today please gap!

And from me it's a huge...........


.........1p!!!!!!

I'm so grateful Natwest let me send piddly amounts to my savings account

PigginSkint

Winnie_in_Pooh wrote: »

*Winnie sits down and puts feet up with cup of tea and chocolate digestives*

Mmmmmmm chocolate digestives!:EasterBun:drool: I hardly ever have them these days because unfortunately an open packet is any empty packet!!

sashanut

Hi all:j

Still no pay & although I've been paying in cash no £2 coins have come my way today:mad: So in desperation, my PAD is just £1 plz GAP.....yes, I'm a PAD-aholic I freely admit it. And another member of Padders Anon lol:T

girlatplay

It's a bit too early for me this morning (or shall we call it late since I haven't actually made it to bed yet?) Had a lovely time at a wedding tonight

Friday's PAD total: £1,323.93

Saturday's PAD total: just a little £140.53

I'm off to bed now (or actually couch because me and Mr G have fallen out (again and I stormed off in a huff - with the covers!!!) Honestly, I would rather have the comfy couch with covers than the uncomfy bed with covers!

never_too_old

Good morning all
firstly EE i cant help you,even though i have debt i have never owned a credit card, always have known that it would encourage me to buy things when im skint so stayed well clear.So i no nothing about them.

my pad today is £123 to various places(including rest of car loan monthly payment)

squeeeek

£1 for me today please GAP...hope your oh works his way back into the good books!