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Need some advice please...
simon85
Posts: 6 Forumite
in Credit cards
Ok I currently have £2,800 to pay off on my credit card and I am really struggling to do so, I also am constanty in my over draft in my CA so I cant use it really to pay off can i ?
I have £1,500 overdraft and the way it is going now, I use it then get paid and then I am £100 in the ' green ' then all the bills come in and right back in the red again, this is I guess another issue but I still have £2.8k to pay off..
I also have £1300 in a savings account but im not sure what to do with this, pay off CC or use it in my Current Account ?
What can I do ? Please help
I have £1,500 overdraft and the way it is going now, I use it then get paid and then I am £100 in the ' green ' then all the bills come in and right back in the red again, this is I guess another issue but I still have £2.8k to pay off..
I also have £1300 in a savings account but im not sure what to do with this, pay off CC or use it in my Current Account ?
What can I do ? Please help
0
Comments
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Are you working if so how much net do you earn?
Make a full statement of affairs on a piece of paper - income on one side ALL expenses/bills on the other. This has to be a true statement or it won't work.
It is amazing how much you could save when you see where you spend it in the first place. Pop over to the debt free wanabe board for a lot more help.
Finally IMO keep say £300 of your savings for an emergency then pay the rest off the highest charging expense whether this be the credit card or overdraft.0 -
Yes earn £1100 a month
I don't spend that much I live at home still, got car, mobile phone contract, pay for internet and that's about it!
I can put £1000 on my CC but then I think, OK now thats done I stillhave £1,800 to pay off and now I got no savings and still in the overdraft
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Do you know what the difference is between the two apr's?
The highest one should ideally be paid off first as you will save more money in debt interest0 -
I'm not too sure on that.. 0
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Check as you rather pay off the higher apr should be in the terms and conditions on your statements, you'll get told your monthly debit interest check the apr0
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First piece of advice is to post over in the DFW board http://forums.moneysavingexpert.com/forumdisplay.php?f=76
Simply put you need to earn more or spend less and loads of helpful people over there will able to point you in the right direction.Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
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