My 1st Diary - SOA Done, Snowballing Ready

ecoverbee

Had a few eBay items sold tonight so waiting for payments but we have managed around £50. Will be throwing this towards the debts, we also have another lot listed and still more to list. Hopefully we can fetch £100 which would be nice throw at the debts

That all for this weekend

specialkaye

Well done on getting your head around ebay selling - ive stayed clear for now.

Just re read some of the thread and you say that your very interest is 0% until march then rises to over 30%? If this is correct you would be better throwing money at the debt that currently has the highest interest - barclays i think?

debrag

never heard of B&M Bargins is it like poundland/poundworld/99p store?

ecoverbee

B&M bargains is a little like pound land but usually most the prices are even cheaper where most things cost around £0.49p all the way up to £1 but some are a little more. You really have to check out the bargains as you can get some good ones.

We needed to get Very paid off by March as then the interest will hit 40% so been throwing money at that one, but I guess that since I'm snowballing it doesn't matter as will always be paying a higher interest each month trying to clear the debts.

I have now switched the snowball so that very is 0% till march which I will change back to the 39.7% when march comes. I will now pay the highest debt back 1st till then. This will probably mean Very will be cleared 3 months later than expected.

Thanks

specialkaye

Yeah Very will be paid off a bit later but the money you throw onto reducing interest payments now will reduce the overall time you are paying off your debt.

Not sure how much to spend on toiletries for both of you but if you gather everything together most people have more than they think. Give yourself a challenge to use up all half used/duplicates/ ones you dont like before you buy any more. Some people have reported that they have 100's stored away and keep buying more. Its easily done when you get gift sets and stuff like that for xmas/birthdays.

ecoverbee

Just spent the past hour on the phone trying to find out my why I'm paying £14.94 every month for some sort of insurance. It was critical illness and life insurance so I have managed to cancel it.

I have also transferred £333 something from one of the cards to pay off the GAP insurance so it will save us another £41.67 per month. I contacted the card company and they say interest will cost around £10 per month extra than what I'm paying now.

So this month by cancelling a few things we have managed to find another £64.63 to use towards the debts. I put in in the snowball the new amount and it will save us over £1000 in interest while we are snowballing.

Things will likely change again but it will mean another debt has vanished.

Thanks
Andy

P.S. We have also joined Netflix through topcashback which gave us 1 free month and £12.12 back so it's pretty much 3 months free.

specialkaye

Netflix is pretty negotiable - cancel it before you start paying and i would be willing to bet money on that they send you a load of stuff offering 2 free months or 2 for the price of 1. You may find that you watch all the things you want to within the first month and your usage go down in which case there is no point having it at all.

Well done on the reshuffle!! At this rate your debt free date will come tumbling down

beanielou

What is netflix?
Is it like LoveFilm?

ecoverbee

beanielou wrote: »

What is netflix?
Is it like LoveFilm?

Yes but you get to stream movies from your pc, playstation & xbox. it doesnt have the latest movies but does have lots of good ones and lots of tv series.

You probbaly need a fast internet connection aswell.

ecoverbee

Today I decided to swap my spare change £10 from my food budget so now I have £10 in cash and used the £10 in my account for food to pay towards the PAD challenge and after reshuffling a few budgets managed to pay off £12.57.

So instead of all my loose change just sitting there waiting for me to cash it in, I figure it will be better to use the change for food, car parking and other essentials and use the money in my account to transfer to the debts.