Chapter 2 - Pulverising the Post Office - one debt at a time

Housework*Fairy

So five weeks spent paying off my smallest debt of £225 – you can read about it here if you are interested https://forums.moneysavingexpert.com/discussion/4321369 I'm now ready(ish) to embark on chapter 2 (I think there's 10 chapters at the moment all progressively getting larger :eek:).

I have a Post Office Card and my 8th December statement balance was £1273.02. I paid the minimum payment of £32.00 and interest to be added if the minimum is paid is £19.70 so as of now my balance should be £1253.58.

Unfortunately due to my DH frightening me to death after he's had a virus and it's been found he has a fast heart rate needing an ECG, I'm a bit loathe to pay off any money to the CC straightaway until he's (hopefully) had the all clear from the doctors next Wednesday, so I'm temporarily transferring any PADS/Planned payment money to a savings account (which I will call a 'holding' account).

Housework*Fairy

Planned Payment Schedule (all are obviously subject to change bar the minimum payment). I like to pay weekly rather than monthly to keep myself motivated.

[STRIKE]5th Jan - £20 weekly payment[/STRIKE]
[STRIKE]12th Jan - £20 weekly payment[/STRIKE]
[STRIKE]19th Jan - £20 weekly payment[/STRIKE]
20th Jan - £18.20 (difference since switching to new phone tarrif)
21st Jan - £13.00 (the amount I had been paying monthly to Very)
26th Jan - £20 weekly payment
31st Jan - £56 pay rise.
31st Jan - £32.00 (Minimum payment)

Hoped-for Grand Total: £199.20

***********************

Fuel workings out

Gas
266 days
702 units

Daily average = 2.639 units per day

Roughly £1.20 per unit

Electric
266 days
4083 units

daily average = 15.349 units per day

Roughly = £0.119 per unit

Housework*Fairy

Have shifted £7.14 into the holding account. This came from getting £3 from the recycle shop for a bag of outgrown clothes from DS2, and £5.17 from the coin-star machine although £1 of this had to go to pay off my catalogue.

pennywisepoundstupid

Found you, good luck pulverising the post office card, i'm sure you will have it gone in no time.

Housework*Fairy

pennywisepoundstupid wrote: »

Found you, good luck pulverising the post office card, i'm sure you will have it gone in no time.

6.5 months apparently if I can keep up this schedule of payments.

fallen121

**sits down, subscribes to thread, plays some Bingo with free money, loses at Bingo, shrugs, has a cup of tea**

StressedSteph

Hi Housework Fairy

Looks like a good challenge. Sorry to hear about hubby, good idea making the holding account, just in case the worst case scenario happens. fingers Crossed it does'nt.

Have you got anything you could Ebay to help bump up the amount you can pay per week.?

Best of luck, will be subscribing xx

Housework*Fairy

Hmmm, thoroughly cheesed off. It's the age old story, you get one company reducing your bill by a good amount (Three) only for another to up your bill by even more.

I must have the worst month in the entire world to have my 'energy review', Got a letter from EDF asking me to read my meters, which I did, and when I input them online it went from having a credit balance of £855 (last bill April) to a debit balance of £420! So £1275 spent on gas/electric in 9 months. Jesus Christ! So my direct debit is being readjusted from £141 per month to £171.00. He also said my electricity was 'average' but my gas useage is very high so it's all down to the central heating. I'm therefore going to have to try to cut down on useage considerably and if I've got it to on (rather than timed) I'll have to remember to put it on timed so we're nor burning money through the night or while we are out.

God, I remember when we moved into this house eight years ago our fuel bills were £75 combined, now I'm paying over a thousand pound a year more – outrageous.

DH has come home from work having booked the afternoon off work. He's asleep on the sofa (having put the heating on!). I hope he gets better over the next couple of days.

Ammeretto

:eek: how much for gas and electric?

That is HUGE.

we pay £60 per month for combined (3 bed house) - i think this will go up slightly soon but only by about £7. I read and submit my meter readings monthly. This way i can keep an eye on what we are using an adjust accordingly

can you look for a cheaper supplier? go though Quidco.
last time we did that we had £100 cash back.

Oh and well done on vanquishing Very and good luck with Pulverising Post office

Housework*Fairy

Ammeretto wrote: »

:eek: how much for gas and electric?

That is HUGE.

we pay £60 per month for combined (3 bed house) - i think this will go up slightly soon but only by about £7. I read and submit my meter readings monthly. This way i can keep an eye on what we are using an adjust accordingly

can you look for a cheaper supplier? go though Quidco.
last time we did that we had £100 cash back.

Oh and well done on vanquishing Very and good luck with Pulverising Post office

I have a bit of bad history when switching fuel suppliers and said after the last time I would never do it again. Each time it's been like this.
1. Sales person / uswitch tells me to switch to new supplier and my direct debits will be £10-£15 a month cheaper.
2. I duly do this and set up direct debit for said amount.
3. Old supplier writes to me with final bill which is ALWAYS in debit. Old supplier wants the final bill to be paid ASAP (usually they accept 3 installments) so I don't see the savings from switching as with the new direct debit and the debt from the final bill adds up to more than what I was paying.
4. fast forward to 12 months time, and my yearly review reveals I have not been paying enough, so now my new direct debit is going up to more than what I was paying with the old company.

All in all I've usually saved zero.

I can't switch right now as I don't have £420 available to pay off EDF, and neither do I have a spare £140 to pay off in three installments along with a direct debit to a new supplier

Anyway I did ask them if there was a cheaper tarrif I could go onto and they said yes(!) (I was on an online saver that ended in September and when I rang to see if there was anything cheaper than standard at the time they said no).

I've spoke to my next door neighbour who tells me her DD has just gone up to £100 a month and she's in the house ALL DAY as she doesn't work, her cooker is gas, and she also has a fire that works. So I've switched the heating right down, and knocked some time off the timer. My aim is to get to 12 months time and actually have a credit balance.

And - a monthly meter reading is a fantastic idea, and as I can do it online I shall aim to do that on payday :T

Eager_Elephant

Subscribing again HouseworkFairy.

You are doing so well you really inspire me :T- I want to focus on one card at a time but daren't at the moment as we have a lot of expenses coming up in the next few months and we need money for that.

Can you read your meter each week instead?
I was the same as you, got a massive shock with the elec bill and our DD was about £136 per month :eek: (This is on top of oil which is about £120 per month as well :eek:)
I started reading the meter every Sunday and inputting it and it becomes a bit of a mini challenge to reduce it from the previous week. (The website might say you can't but if you do it anyway it should create you a bill)