Shame of being in debt + Peer pressure to socialise??

Tixy

FreshPrincess wrote: »

Out of interest do you know if I pay 90% of my CC balance off, will they charge me interest on the remaining 10% ... or on the full balance, because I didn't pay it off "in full"? It doesn't make it clear on the statement, and I'm unsure whether all cards have the same policy or whether they're different. This card is a PayPal Mastercard powered by Santander. I know on my bank O/D it charges interest on the full overdrawn amount, even if you're only £5 over your interest free portion.

You'd pay interest on 100% from the date of purchase to the date of payment, and then only on the remaining amount from the date of your payment - if that makes sense? so it is a big penalty for being not quite able to pay in full.

I think you are being really sensible. Good luck with the ebay selling and everything.

cottonhead

Hi freshprincess - what I was trying to explain is do you have £60 in your bank account / cash in hand that could be used for this night out without making you miss an important payment on a bill or debt ? I wasnt suggesting that you use a credit card or make yourself in debt. Just wondering if you actually have it and dont want to use it for this reason or dont have it at all. If you do have it then maybe having the night out and making it special would be worth it. Surley missing out on an extra xmas present from your OH is worth it if you have a nice evening out and your OH see's you did it as its so important to him.
Want to say again I think its great that you are avoiding debt - so tempting to borrow when you dont have money but doing it your way you will get there faster without causing long term damage. Are you working at all at the moment ? I remember you saying you were going into advertising. Good luck with that and hope it works out. Have you tried looking for a temp xmas job in a shop or something or even a few hours cleaning / shelf stacking of a night ? Even a min wage job would get a bit of cash in and looks better on your CV that your are prerared to work hard rather than just wait for the job you really want. Anyway thats what I did and it paid off.
Best of luck and hope you have a great meal.

timbstoke

Cottonhead - It doesn't matter what account the £60 is sitting in, the end result is the same. By definition, if you're in the red, then you're living payday-to-payday, and any spare cash is simply reducing debt. £60 spent on something you don't need is actually £60 plus interest, because even if it comes out of your bank account, that's £60 less towards your credit card, which means that unpaid £60 is now accruing interest.

Like FreshPrincess, I only have around £2K debt, but I'm damned if I'm going to pay more for it than I have to for the sake of a posh meal. I actually got invited out to a meal tonight - only a curry, probably £20-30 tops, but I turned it down. For £10, I can get a few curries in from Iceland, have some friends round for a curry night, and probably have a better night. It might seem trivial to you, but this is the way the Light Bulb Moment makes you think.

candystripedlegs

I feel so bad for you for being in this situation! It is so hard, I've been trying to budget lately and refusing anything is so difficult. I would do what others have suggested and maybe thank people for being understanding/changing the restaurant... or just see how it goes, chances are it won't be an issue so you might not even have to mention it at all!

FreshPrincess

Thanks all, I actually got a job offer today to start tomorrow for 2 weeks and maybe a couple more in the New Year, only £6.25 p/h which is a lot less than my last job but it puts me back in the loop as I would have fell into the '6 months without a proper job' hole, shortly. It still doesn't make me want to go to the posh restaurant though! That money would buy me the new hairdryer I need! I'll only be earning a fraction more than being on Jobseekers, after petrol to get there every day. I agree with TimBStoke (I'm from Stafford btw!) that with a smaller debt the onus is on paying the lot off asap, as it's achievable with a bit of mindset. Had my debt been bigger and ongoing for longer, and I had a set "repayment" plan set out, I would understand where you're coming from Cottonhead and be resigned to set myself aside a "treat", but as I don't know what the heck's going on day-to-day in my work / home-life my immediate aim is to reduce my debt at any cost, as my aim is to move out and get a "proper job" to stop me going insane. I'm actually looking to get into Sports Journalism, as per my degree. Hard task, and I can't volunteer again without the cash behind me. The first step to this is hard £££ in the bank, accumulating, and totally clean credit cards to help me out, that I can pay off on time with my first paycheque.

I do still think we can have a good night at the curryhouse, and if we can't, then it's the company's problem, you should be able to have a good night anywhere with the right people. Here's hoping.

Wellyboots6

Hi,

I think I would have reacted the same in your situation! Its a lot of money to spend on a meal, but also the social pressures make things seem alot worse. Could you maybe make the friends some small token gifts to say thanks for understanding? Handmade christmas cards or something?

Just a thought

jclm_2

well done - you did the right thing! i hope in that situation i would have insisted on the same. good luck with clearing your debts - stick to your guns in refusing when people are trying to force you out socialising :j

Lady_Aga

I totally understand. When I was younger and desperately trying to not get any further into debt, my budget was very tight. That £70 per month 'pocket money' hardly went anywhere (prob like £120 now) so splashing it all on one meal that I wasn't even bothered about would have really upset me too. I would have cried too.
It would have meant that I could not go out, buy any magazines or chocolate, or clothes. No meal-deal-for £10-from M&S for a special dinner, no phone credit, no additional travel, no cinema, no fast food or starbucks, no cards or presents, no treats from the supermarket etc. FOR THE REST OF THE MONTH.

Even if there is someone in the party who is generous/stupid and offers/insists picks up the tab, or buys the drinks, it's not something that anyone should expect.

I don't know what I would do in your situation. Possibly ask bf to pay this time. Hope that you are on your feet soon.

BTW, I know it's a sideways way of getting into sports journalism, but if you can get a civil service admin job, you might be able to wangle your way via your HQ Communications department to going on secondment to the olympics.

FreshPrincess

Lady_Aga wrote: »

I totally understand. When I was younger and desperately trying to not get any further into debt, my budget was very tight. That £70 per month 'pocket money' hardly went anywhere (prob like £120 now) so splashing it all on one meal that I wasn't even bothered about would have really upset me too. I would have cried too.
It would have meant that I could not go out, buy any magazines or chocolate, or clothes. No meal-deal-for £10-from M&S for a special dinner, no phone credit, no additional travel, no cinema, no fast food or starbucks, no cards or presents, no treats from the supermarket etc. FOR THE REST OF THE MONTH.

Even if there is someone in the party who is generous/stupid and offers/insists picks up the tab, or buys the drinks, it's not something that anyone should expect.

I don't know what I would do in your situation. Possibly ask bf to pay this time. Hope that you are on your feet soon.

BTW, I know it's a sideways way of getting into sports journalism, but if you can get a civil service admin job, you might be able to wangle your way via your HQ Communications department to going on secondment to the olympics.

Bang on, I'm a little-treats-to-get-me-through-the-week" girl, I like to be able to get a takeaway when I fancy it, or a new nail varnish. I love eBay and coming home to a few parcels. I loathe the 9-5 ritual with nothing to look forward to but the weekend. I appreciate the work though, now working after 5 months of not. I'd much rather indulge my own small whims than blow it all one on night and have a miserable rest of the month. Thanks for the Olympics tip, I was hoping to get work exp. at BBC and fingers crossed get an unpaid placement that way (done BBC before, just need to get back into it) To do that I need the debt paid off so I can move out to Manchester (yes, my profile location is optimistic fore-planning) and get a 9-5 and volunteer at weekends again. Thanks for the idea though. I will research it. :cool2: