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Pleasant problem

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Comments

  • Ruby789
    Ruby789 Posts: 312 Forumite
    Clear the debt and use what you would have paid back the debt with to save for a holiday.

    Simples!

    Don't try to keep up with your work colleagues, you have no idea whether they are living a secret life up to their eyes in debt!

    Another vote for this approach. Best of both worlds and no slippage back to the old mindset. I'm saving up for a holiday for the first time (instead of putting it on credit) and it feels pretty good.
    Debt free (finally) and saving a deposit for my first home.
  • katy_ann
    katy_ann Posts: 1,094 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I would probably use the majority of it againest the debt, think how long it would take you to pay off that amount using the payments you make at the moment, maybe save £100 of it and treat yourself to something nice? :) x
    Debt free once - Back again | Current debt: £2479.50 - January 2025 | Make £2025 in 2025 #11 - £41/£2025
  • haybel19
    haybel19 Posts: 1,332 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Cashback Cashier
    I voted pay it off debt- a lump sum like that would take a long time to save up - and brings your debt free day so much closer. You can save up for a holiday - you will be proud of yourself and continuing the MSE mindset that way.
    Make £10 a day challenge November £125.60/310
    December 417.35/310 January 512.33/310

    £1000 emergency fund challenge 0/1000

    Rule of 3 challenge 13/365
  • My vote goes to clearing the debt too sorry. I would then save the payments that I would have been making to the ccs for a holiday.
    BYS # 7 £0 /£1000
    Quit smoking Sept 2013 - Saved £525 (4/12/13)
  • Barbeduk
    Barbeduk Posts: 869 Forumite
    Tenth Anniversary 500 Posts Combo Breaker Debt-free and Proud!
    Pay off the Virgin card, anything left is yours. On re-reading your post you say you have only managed to save £400 towards this card. So get rid of it and that's half your problem gone.
    Make £2020 in 2020 £178.81/£2020
    SPC 13 #51
    Feb Grocery Challenge £4.68/£200
  • Thank you all for your repsonses - I have gone with the consensus and cleared one of the cards today, closing tomorrow!

    I've decided to pay all the monthly amount I'm going to save on this into a savings account, and spend on a nice trip away in the summer, which is nice to think about.

    Thanks all
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