How can I save?

thevinternet

AliceBanned wrote: »

I received a letter from Lloyds TSB today declining my application for a credit card. I applied for Barclaycard platinum, unless I made a mistake online and ended up applying for two credit cards on the same day. I'm confused! As far as i was concerned I didn't follow the Lloyds application through as it didn't work properly online so I gave up and looked at Barclaycard. it isn't looking hopeful that i will get a balance transfer card anyway.:(

I suppose it was unlikely I would get a 0% balance transfer anway, but I only have one "arrangement to pay" (now repaid) on my credit file from early 2007. Everything else is up to date, although I am constantly up to my £750 overdraft on my current account. Can't seem to manage without it and am trying to get rid of the Halifax cc so it is hard to do both.

I have a cold since Weds so this may be why but I'm not feeling so hopeful and thinking maybe I will have to get a lodger if I'm every going to really get a handle on things. Even with the SOA it still doesn't make much sense why I can't make progress very quickly.

Hi Alice, you feeling any better? Hope the cold is gone.

I too feel like I get 'stuck in the mud' quite often, but don't be too hard on yourself - you've only been trying this new way of handling your finances for a short time, so it may take a little longer to start making an impact. But hang in there hun x

Firewalker

candykisses wrote: »

hi alice

no, I'm full time employed, but they don't offer a pension scheme here. a bit fed up at the moment as not sure if it's worth putting into a pension if I can't afford to put in 20% - ie. is it worth me trying to put 10% in and put the rest into ISA's or maybe just save what I can in ISA's?

Probably the wrong forum to be asking, but was just amazed that your SOA is practically identical to mine so have been looking for advice on how to save x

Please do n ot take this one as advice but as an opinion. The peeps on the other board are right - at your age you need to put much more away to have a decent pension (you have missed the power of compound interest). However, you can:

1) Start saving immediately; save as much as you can without ruining your quality of life completely. ISA is best but you need to keep some of the money available.
2) Start educating yourself about investments. Private pensions are nothing more than investments but they are not doing very well at the moment - so you should have a go yourself.
3) Talk to a financial planner (but only after you have educated yourself a bit).

Hope this helps. Oh, and don't panic - even people who have employer pension schemes will end up with not very much. We all have to think about how to build up a bit more if we are not having only pasta when we retire (if we can afford it that is).

Firewalker

AliceBanned

thevinternet wrote: »

Hi Alice, you feeling any better? Hope the cold is gone.

I too feel like I get 'stuck in the mud' quite often, but don't be too hard on yourself - you've only been trying this new way of handling your finances for a short time, so it may take a little longer to start making an impact. But hang in there hun x

Hi thevinternet

Yes I'm a lot better thanks but very tired as still have remnants of the cold. I think I will be back at work tomorrow.

Thanks that's very helpful. Best to have more patience as paying things off too quickly has given me problems in the past. I'll try to not stress out about it, pay things off but still enjoy life.:)

thevinternet

AliceBanned wrote: »

Hi thevinternet

Yes I'm a lot better thanks but very tired as still have remnants of the cold. I think I will be back at work tomorrow.

Thanks that's very helpful. Best to have more patience as paying things off too quickly has given me problems in the past. I'll try to not stress out about it, pay things off but still enjoy life.:)

That's it, it's all about balance - work on your debts, but still try to have some quality of life. 'The Middle Way' as Eastern philosophy/Buddhism calls it. Easier said than done, especially in a world where we are positively encouraged to run around like headless chickens all the time!

One thing I do when I feel like I'm not making any progress is to either list something on Ebay, or check on the individual amounts I owe and update my snowball/signature. Even if the difference is just a couple of pounds, I always feel better for it.

AliceBanned

I like that, the middle way, sounds so relaxed and harmonious! Yes writing the balances on here has been very powerful. It encourages me to remained committed to what I am doing. I don't think I'm going to pay them off as quickly as my SOA says is possible, but then again I'm being frugal in my attitude. Even finding it hard to go in shops to do xmas shopping - it's so OTT out there!

I've just requested payment from my Amazon account - only £11 owed but it's still income!:).

I hope I haven't made too many applications lol but yesterday I applied for a Santander current account. If successful I would have 0% on my overdraft, which I am struggling with at the mo £1 a day overdrawn with Halifax and £5 for unarranged o/d which I've only done twice. There is £100 cashback with Santander and £30 Amazon vouchers. I've been with Halifax for a while and the account has been good but I can't get lower rates so may as well shop around. I hope it doesn't affect me having my credit card with them however, if I move my current account. I had a previous default (more than six years ago) with Abbey so Santander may reject me anyway. Worth a try I thought.:)

I still haven't heard from Barclaycard on their 0% card for balance transfer. I won't be doing any other applications after this as need to keep up my credit score.:D

thevinternet

That sounds very organised regarding the applications, I shall keep my fingers crossed for you. I shall also get my cats to cross their paws for you

I know what you mean about the Christmas shopping - never before have so many of my presents been from the Pound Shop! lol! And the wrapping paper there is 3 rolls for a quid - it's not your premium brand stuff, but it is pretty, and it all gets ripped off anyway so who cares?!

And this is what we are having for xmas dinner - :spam: - nah, just kidding!

ellesbellesxxx

Hi Alice,
well done for making some positive steps already.
Up until Feb I had been single for 3 years, and my friends were v important. But to cut down on entertainment, why not try having dinner parties - I am a veggie but a chilli with vege mince, lots of veg (value tins tomatoes and kid beans! onions, peppers etc) rice, pitta - cheap as chips Also logging on for vouchers, doing mystery dining... you coulld save loads in no time - and it's fun!!!!!!

Ebay/Amazon are amazing too for making extra

Good luck!x

AliceBanned

thevinternet wrote: »

That sounds very organised regarding the applications, I shall keep my fingers crossed for you. I shall also get my cats to cross their paws for you

I know what you mean about the Christmas shopping - never before have so many of my presents been from the Pound Shop! lol! And the wrapping paper there is 3 rolls for a quid - it's not your premium brand stuff, but it is pretty, and it all gets ripped off anyway so who cares?!

And this is what we are having for xmas dinner - :spam: - nah, just kidding!

Thanks! I've had a few probs with Santander, going into the branch today to try and close it after 3 days. Long story which I've gone into elsewhere. Trying to keep my current account with Halifax and pay off the overdraft (£1 a day at mo).

Your cats' paws have worked - I have just been accepted for Barclaycard Gold 0% for one year, although I don't yet know how big a balance I can transfer, will find out when I get the card. Things v slowly looking up but my stress levels are not reduced yet so I took the day off today to just get away from it all (xmas, even work party, etc. Not for me at the moment.:mad:). This time of year is unbelievably stressful for me. A plate of spam would be ok - keeping it simple.

AliceBanned

ellesbellesxxx wrote: »

Hi Alice,
well done for making some positive steps already.
Up until Feb I had been single for 3 years, and my friends were v important. But to cut down on entertainment, why not try having dinner parties - I am a veggie but a chilli with vege mince, lots of veg (value tins tomatoes and kid beans! onions, peppers etc) rice, pitta - cheap as chips Also logging on for vouchers, doing mystery dining... you coulld save loads in no time - and it's fun!!!!!!

Ebay/Amazon are amazing too for making extra

Good luck!x

Hi I've struggled with making myself too isolated so need to get out but thanks for the suggestion. I do like vege mince (in fact don't like meat very much). i don't think food costs me too much any more. I hadn't heard of mystery dining! sounds like a good idea. I've also sold bits and pieces on Amazon and Ebay. Thanks for your help!

thevinternet

AliceBanned wrote: »

Your cats' paws have worked - I have just been accepted for Barclaycard Gold 0% for one year, although I don't yet know how big a balance I can transfer, will find out when I get the card. Things v slowly looking up but my stress levels are not reduced yet so I took the day off today to just get away from it all (xmas, even work party, etc. Not for me at the moment.:mad:). This time of year is unbelievably stressful for me. A plate of spam would be ok - keeping it simple.

Spam spam, spammity spam!!

Great news about the Barclaycard 0% - my OH got accepted for one of those, and whilst it was only a small limit (just over a grand) even balance transferring that small amount will help him out no end.

I have been getting stressed too - especially with the state of the house - but hopefully I will start to chillax (as the young folk say) soon.