Pay ALL your debt off by Xmas 2013

minicooper272

Oh the poo heads. I went overdrawn! I transfer living money into my other bank account on the 1st of every month, and my gym membership also comes out on the first. I logged in on Tuesday, found my balance was -£27, because obviously my usual transfer was delayed, but they had already deducted my gym membership (showing payment date of the 2nd). I transferred £30 from my savings into the account on the 1st, as that's usually an instant transfer, and hoped it would fix the problem, but apparently it hasn't, so it's time to sit and wait for the letter.

I hate these little banking tricks they do, taking money out in the early hours, and not showing that you've paid in until it's too late! :mad: I'll just have to see if I can get the charge reversed...

SpagBol

32b3in2013 wrote: »

My snowball says 12 months. So hopefully this year. I am sure it said March 2014 a while ago. Hmmm, wonder what has changed :mad:

Changed for the better though...well done for shaving 2 months off :T

Thanks Suzitiger, I'm learning all the time :rotfl: I would pay off your storecard and then £50 off the next highest interest. Have you tried the snowballing yet? That will tell you which to pay off to save your interest but if you can clear a storecard (which are usually high interest) get that done and close the little blighter!

Welcome to homemadehappiness & bellabear

SpagBol

minicooper272 wrote: »

Oh the poo heads. I went overdrawn! I transfer living money into my other bank account on the 1st of every month, and my gym membership also comes out on the first. I logged in on Tuesday, found my balance was -£27, because obviously my usual transfer was delayed, but they had already deducted my gym membership (showing payment date of the 2nd). I transferred £30 from my savings into the account on the 1st, as that's usually an instant transfer, and hoped it would fix the problem, but apparently it hasn't, so it's time to sit and wait for the letter.

I hate these little banking tricks they do, taking money out in the early hours, and not showing that you've paid in until it's too late! :mad: I'll just have to see if I can get the charge reversed...

NW does this, lets you see it early at the weekend or on BHs but I didn't think they have ever charged me for it if I have sorted it out before the next banking day. Hope you get it sorted.

mummy2threeboys

Morning all just checking in, have played with snowballs and i have to pay £480 a month leaving me £120? a month to play/entertain/non essentials/life stuff kids which is perfectly do-able..this will take me down to jan 2014..so i need to find an extra payment or cut down even more.
NOt a payment yet as this month i have to pay £270 off my holiday and no pay until tuesday anyway, but i did transfer £2500 to my 0% credit card (17 month term) and ive saved £423 in interest alone over that time! love to see how much i save if i get it down from the current 18 months to 12

Have a great day all x

rubywhatashmoo

Happy Thursday threadies!

Well I've managed to catch up with the thread - didn't even have time to at work last night - too much work to do! :eek:

Today I am planning on sleeping til about 3pm (ah bliss!) then making stuffed red peppers for tea (hopefully yum - new recipe but all the ingredients are in the fridge ready and waiting!), take myself to the shopping centre to return my bags of shopping, get some passport photos and get my eyebrows threaded while I can still see out from underneath them! :rotfl: Then as a special treat I think I'll use some of my advantage points to buy some hair bands and cotton buds - crazy day at my house today! :cool:

I'm crossing my fingers for tonight anyway as my eb*y auctions are finishing - I didn't manage to list any extra than the four I did a week ago (oops) but they have all got bids on at least!

recurrent-ostrich

*sigh* Have blown the food shop budget this month -again! I really need to be a bit more careful with it. Everything is just *so* expensive these days though.

SpagBol

I'm back off to bed...I have the sore throat coldy thing that is doing the rounds. Thankfully my kids are old enough to amuse themselves now for an hour and also I batch cooked so much yesterday I don't have to worry about cooking today or feeling so crap I'd be tempted to get a takeaway

No debt busting here to cheer me up until payday (either tomorrow or Monday according to DH :mad:) so I'll have to take enjoyment from you guys paying debt off :T

SpagBol

recurrent-ostrich wrote: »

*sigh* Have blown the food shop budget this month -again! I really need to be a bit more careful with it. Everything is just *so* expensive these days though.

Agreed, and it seems to be the healthier food which is going up, lean cuts of meat in particular.

choclover

SpagBol wrote: »

Losing a stone (especially in December!!) is amazing, well done :T

Thanks so much spagbol! I'm soooo happy about it!

Just realised I've got 10 pages to catch up on, which I'll do later today, so apologies if I've missed anything! Haven't been on the laptop for a few days and have only just updated my spreadsheet :eek: so making my first update! I'm afraid to say it's just going to be minimum payments for the next few months as OH has been signed off work.

#27 £336.84/£6000 (5.61%)

recurrent-ostrich

Right, lovelies. I need some advice. Additional to our debt, we also have a £3.5K overdraft on our joint account that we max every month. Our overdraft fees are £50 a month, which I have worked out to be an 18% interest rate on a debt that we will have for three and a half years, making £2000 in interest.

I'm considering putting some of the overdraft onto a CC and then REDUCING the OD limit (so we don't rack it up again). The way I look at it is if I can get it onto a CC at a rate of less than 18% we'll be saving money, yes?

Does this make sense?