Our beautiful recycled life: a patchworking income, green living, dfw adventure!

Pippilongstocking

Greying_Pilgrim wrote: »

Hi Pippi - gosh you are busy on an Easter Sunday - so much number crunching!!!

:j its rainy here and yukky so I'm number crunching - how lovely to see you:j

I've not come on to give you THE answer, 'coz my brain is hurting just trying to fathom the complexities!

*mine too*:rotfl:

However, I would ask, how long would it take you to pay off Lucifer (ie the whole £900)?? Because you talk about transferring the OD2 (£1000) to this card once the £900 is paid off. The special offer is 0% for 9 months, but is this from now or 9 months from when you choose to 'use' it.

Because, say for example it took you 5 months to pay off the Lucifer £900, this may only leave you 4 months of the 'special offer' 0% period left (that's assuming they would still offer it to you - another better/worse promotion might of started by then). Could you pay off £1000 at 0% in 4 months? If you couldn't, what %age rate might it revert to??

I don't suppose ^^^^^ is any help what-so-ever, but it would be a question I would ask myself.

Ok that is a help cos I forgot to mention the important part. I've been billing womble land mid month - however - due to extra day and contract change from 1/4/2012 I'm billing them this month again for half a month to take me to 31/3 - then monthly from here. So this month I've effectively got my normal payment plus an extra £500 coming sooner than expected. Therefore I could clear Lucifer this month with some wages and some extra wages.

(*or I could clear lloyds OD with that money rather than the transfer for 0%):o

*there in lies the real conudrum, bother - is there any advantage to paying it off by a card if I have the extra money and don't use it PAD'ing the lucifer card?*

Anyway, all the best to you and yours this Easter Day!

Kind regards, Greying

And a very fine Easter day to you and yours - I must take a photo of the hanging up bits and bobs at work with all your lovely bags in - most brilliant everytime I see it I think of Mr G and your kind self!

Greying_Pilgrim

Right ho. That does make sense now and I can see why you have got the dilemma.

So surely, in interest terms, clearing Lucifer is the way to go, because it is attracting a % rate - even though it is less than the Captain. Rather than 'clearing' the OD2 with this 'extra' income and retaining Lucifer??? You'd still be paying more in Lucifer interest (on £900 than you would on OD2 £1000 at £5pm + interest???)

Anyway, I'm NOT a financial advisor, so don't listen to me!!!! lol


And YES we do what to see pics of your handy hanging organiser! We've 3 more bags to send up and it'll good to see the fruits of our 'recycling'.

Greying

Karmacat

Okay, my brain's hurting reading the conversation! Sorry Pippi - I need lots and lots of words, and lots and lots of scribbled columns, to be able to understand completely, and I can't quite work it out reading about it. But it sounds like you and Greying (hi!) have got it sussed.

I just follow Martin's rule - pay off the debt with the higher interest rate first. But if, by paying off a debt with a lower interest rate, you have a money offer to take advantage of that means you can pay off a debt with a higher interest rate, then that sounds great!

Pippilongstocking

Very sensible indeed Greying - the balance tranfer is 0% from Lucifer so if I did move the money it wouldn't attract any interest but I'd need to pay it all off in time! Mr F said something sensilbe too - he said why not use the 0% 'money' to pay a chunk from the captain - thus reducing that card dramatically and pay less interest on that whilst paying the other back!

Morning KC - yes a brain buster -= sorry we cross posted - I'll do a spreadsheet and fathom it out! Hope you're good.....

Decisions, decisions - I'll mull it over some more no doubt I've got until the end of May to take up the offer - I can feel a spread sheet coming on to compare the options! Thank you for the input and I know no one's a financial advisor so I'm going canny!

Morning all

Work day today - Mr F and I slobbed yesterday - I even put on a frock - not a hope of going outside - sideways rain and windy windy. We watched movies and did nothing!

Oh, aside making a slow roast lamb shoulder dinner which was very nice indeed!

Today - work and a bit of planning - I also need to see if I can make 1000 willow cuttings for someone. I think I'll have willow cutters elbow after that!

Whatever you're upto have a good un!

Piquant_2

Oh Wow, I said I'd pop over and it's all maths! Not my strong point at all. I've always paid off the highest interest rate first and have left my OD, also at £5 a month until last. I don't miss the £5 interest as much as I miss the £75 interest on the cc.

Take no notice of my advice though, I am clearly rubbish at finances as my debts prove!

I'm pleased that you've got the extra day wombling and that you're going to set it aside for the boring stuff such as tax and pension, it will save a great deal of worrying later in the year.

Take care dearest one....

Piq

Greying_Pilgrim

Pippilongstocking wrote: »

*Sniggers*

Utterly brilliant link here - Martin and the national womble parent organisation of our local womble charity are pals how fantastic!

Hi Pippi, and Good Morning KC :wave: Hello to the rest of the Gang too.

Pippi, sounds like you're getting to a solution with the cards and transfers - MrF's suggestion sounds a good one too, and does begin to tackle the Capital card - I assumed you had a reason why you weren't paying that down first, but it seems like you may have a solution that could possibly work all round. Well Done!

I followed the link ^^^ Pippi - still can't believe that there are people that waste £35 of food a month!!! That is over half our food budget! I fret if I've wasted 35p Still, always good that awareness is being raised and people are being helped to mend their ways and help themselves.

Have a great day - although the prospect of willow cutters elbow doesn't really appeal - whatever you're up to.

Greying

Cheery_Daff

Goodness Pippi - a frock! How fabulous, and how lovely to have a day of slobbing with Mr F

Hope you figure out your cards - tis all beyond me, but I think sometimes staring hard at things just makes them behave more!

Shocking that people waste £35 of food - a week?! Must go and read that article, that's ridiculous, that's more than we SPEND on food! Although I admit I've started to notice that we do waste some I just had to throw out a cooking apple, lost in the back of the fridge for months and months and quite often we have oranges go entirely solid in the bottom of the fruit bowl, which is perched too high up for me to see into it properly... Must get on the case!

(Did make minestrone(ish) soup with leftover pasta yesterday though )

starnac

£35 a week???? Blimey! That's more than we spend!! We are currently eating freezer surprise for dinners. We have 2freezers and shuffled things around as they were both only half full and we needed room for the food for the baptism on Sunday. So we moved all current freezer food into the bigger freezer leaving the smaller one empty ready for the freezer shop. However the big freezer is quite full so and we discovered a lot of HM ready meals so we are eating our way through them at the mo - trouble is (outside work) I'm really rubbish at labelling things so we are having to guess at what it is through the container

Sounds like mr F has the right idea with your cards. As Piq said you wouldn't miss the £5 OD interest as much as you would the other card interest.

Good idea with putting the extra days pay to cover tax etc. that way you won't miss it. Clever girl!

Lazy day here today DH in work. Going to make a birthday cake for my baby brother who turns 21 tomorrow and I may take the kids up mam's later for a bit of company. Tonight will be cutting out my dress ready to sew tomorrow

Kittikins

Not even going to wade in on the numbers discussion, I'm rubbish at numbers, but I'm sure you'll do the right thing

Throwing out £35 worth of food a week is crazy, but sadly today....I've had to throw out a pepper that had gone disgusting and I discovered that my power supply to the freezer in the garage has stopped working, so I have had to empty the darned thing, thankfully only a few soups in there, but annoying all the same.

DD and I are having a totally lazy day today, we're still in our jimjams, playing games and watching DVDs and having lots of cuddles. Bliss!

vl2588

Happy Easter! I'm confuzzled too, but my excuse is sauvignon blanc

Very happy today as I have ordered some pretty (and cheap!) periwinkle blue fabric to make a dress with! It is two panels plus straps so it can't go wrong...right?!

I had to throw away some mouldy green beans today - must try harder!

Hope everyone is well and well rested if they had all four days off!