£50 - What do I do with it?

klfairy

Through keeping tight records and support on here, I find myself with £50 left of my overdraft, when normally at this point there would be nothing left.

OH's wages and a money transfer will clear in our joint current account between Wednesday and Friday. There are no more bills to pay and we've got a well-stocked fridge and store cupboard. We have Tesco clubcard vouchers if a grocery-related emergency crops up.

So, £50. I could:

1) Phone Halifax and get £50 knocked off my overdraft limit. This is largely symbolic though because it won't reduce the fees. My overdraft costs £1 a day for planned overdrafts over £300, and I'm currently running at a long way over £300.

2) Pay £50 towards OH's credit card. The APR is 35%. They want £50 from him this week, to reach the account by Friday. I have already transferred money to cover it, however it won't clear in the current account until Wed/Thur. I suspect this might be a bit slow for Capital One and if the payment doesn't hit their system until Monday, he might incur more charges.

If I did option 2, do I then take the £50 we're waiting to clear from the savings and chip away at the overdraft, or use it for Christmas (its original purpose)?

If I talk it over with OH he'll not be very helpful and suggest we spend it on a treat.

Tixy

I'd pay it extra off OHs card, in addition to the other £50. The sooner that debt is paid off the better.

dark^knight

Keep it simple...pay off a debt or overdraft...£50 less you owe someone

klfairy

Tixy wrote: »

I'd pay it extra off OHs card, in addition to the other £50. The sooner that debt is paid off the better.

If I do that, I'll have to keep it quiet I think. He'll want to spend the other £50 instead :rotfl:

He's just not had his lightbulb moment yet. I'm hoping it'll come soon!

klfairy

I've paid £50 off OH's credit card. I'll pay them again when more money clears. Even though I know I've done the right thing, I feel like I've made a mistake.

mummybearx

You would have felt guilty no matter what you decided to do. I would have suggested the credit card debt as well, taking the total down is the goal!

My DH sounds like yours though, he would have said 'lets get a takeaway' with the money:mad:

x

klfairy

zepsgal wrote: »

You would have felt guilty no matter what you decided to do. I would have suggested the credit card debt as well, taking the total down is the goal!

My DH sounds like yours though, he would have said 'lets get a takeaway' with the money:mad:

x

:rotfl: Sounds the same, yes! He'd have a big Chinese takeaway and a bottle of vodka I think. I have no idea how to modify his "treat" mentality.

DS4215

klfairy wrote: »

:rotfl: Sounds the same, yes! He'd have a big Chinese takeaway and a bottle of vodka I think. I have no idea how to modify his "treat" mentality.

Electro-shock therapy is recommended in some circles. Every time he suggests a treat, hit him with a tasar. He'll soon learn :rotfl:

mummybearx

If DH suggests a takeaway I will half ignore him, and make my way to the kitchen to start making a dinner. Can't throw away a half cooked meal just to order food in!!

We have been naughty last week though, had two takeaways
My excuse was that our kitchen was covered in tools, wood and sawdust, cos DH is doing up our hall. Place was a mess, filthy, I literally couldn't get a workspace to cook on (or floorspace to stand on!)

But it's all swings and roundabouts as they say. Have made up for it this week with lots of home cooked food. Plus home baking to save me buying in chocolate lol

You will get there mrs, you are going in the right direction! x x

klfairy

Just had a panic that some of things I'd bought hadn't come out of the account... but they have. It's ok. *deep breaths*

We have had terrible takeaway habits off and on over the years. Once a week, sometimes more. Not good for our finances or our waistlines! Weekends were the worst because we'd have a Chinese or a curry on Friday night as a treat, then get up late on Saturday. We'd be out and starving, so call at McDonalds or KFC for lunch. I don't think we even particularly enjoyed most of it.

coldcazzie

DS4215 wrote: »

Electro-shock therapy is recommended in some circles. Every time he suggests a treat, hit him with a tasar. He'll soon learn :rotfl:

:rotfl::rotfl::rotfl::rotfl: that's awesome! I should remember that for next time my man-wife misbehaves!

klfairy wrote: »

I've paid £50 off OH's credit card. I'll pay them again when more money clears. Even though I know I've done the right thing, I feel like I've made a mistake.

You've made the right choice, definitely. Even if paying off the OD won't make any difference towards the charges, you can be sure than an extra £50 off a CC will make a difference.:)