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How Should I Use the Last of My Family Allowance

tesuhoha
Posts: 17,971 Forumite



My family allowance gets paid into a Bradford & Bingley account and I have also saved it and used it for family matters such as birthdays and Christmas. For instance I have funded my kid's birthdays with it this year. Now my daughter is at uni so I dont get anyfor her anymore and my son is now 18, so it will come to an end this year sometime. The Bradford & Bingley branch is closing in my town. So when the last family allowance payment goes in I am going to the next town to close the account down.
It will be about £150 I think, maybe more. I know thats not a lot of money but I am undecided what to do with it. I am very very tempted to pay it off our debt. However, my instinct tells me to save it towards Christmas. I am saving £50 per month towards Christmas at the moment. Its all I can afford but I dont think its going to be enough. The reason I say this is that my OH has two weeks off work then and he doesnt get paid when he is off. I shall have to halt all debt payments for December and maybe January. Last year we overspent and combined with his not getting paid, our debt increased by a miserable £3,000:eek: I was depressed for months afterwards and its only now that Im getting it down to its pre-Christmas level. I try to pay £1,000 a month off the debt but I've had a lot of unexpected expense the last three months so it hasnt been going down much.
Should I give in to what I want to do and pay it off the debt? Or should I put this money in the Christmas account?
It will be about £150 I think, maybe more. I know thats not a lot of money but I am undecided what to do with it. I am very very tempted to pay it off our debt. However, my instinct tells me to save it towards Christmas. I am saving £50 per month towards Christmas at the moment. Its all I can afford but I dont think its going to be enough. The reason I say this is that my OH has two weeks off work then and he doesnt get paid when he is off. I shall have to halt all debt payments for December and maybe January. Last year we overspent and combined with his not getting paid, our debt increased by a miserable £3,000:eek: I was depressed for months afterwards and its only now that Im getting it down to its pre-Christmas level. I try to pay £1,000 a month off the debt but I've had a lot of unexpected expense the last three months so it hasnt been going down much.
Should I give in to what I want to do and pay it off the debt? Or should I put this money in the Christmas account?

The forest would be very silent if no birds sang except for the birds that sang the best
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I would say that if your debts are quite big then put it towards Christmas tbh!
Now I might get shot down for saying that but my reasoning is that if £150 is going to make a big difference then by all means it would make sense to do it but if your already paying £1000 a month then £150 isn't going to make a huge hole in that.
So save it for Christmas and have a guilt free time I say, we re all entitled to indulge once in a while!!Sometimes you have to go throughthe rain to get to therainbow0 -
Save it for christmas- you will then be spending it on your kids anyway, as no doubt presents for them will have to be budgeted for.0
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Yes I think so too.The forest would be very silent if no birds sang except for the birds that sang the best0
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I would use it to go out and celebrate surviving the last 18 yrs! lol!Total 'Failed Business' Debt £29,043
Que sera, sera.0 -
There is that yes, but actually its the last 21 years if you count my daughter too. :eek: :beer:The forest would be very silent if no birds sang except for the birds that sang the best0
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Wow! That's an achievement in itself! You definately deserve to celebrate!Total 'Failed Business' Debt £29,043
Que sera, sera.0 -
Maybe I will.The forest would be very silent if no birds sang except for the birds that sang the best0
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If you don't spend it as a celebration (and I'm sure you will deserve it after 21 years) then I'd say put towards xmas, say for your food shopping, then if both your children are at home for xmas you can think the last of the money fed them or bought them x present.
and IA what are you like, encouraging people to enjoy themselves, when you ignore us when we tell you the same. I'm obviously going to have to work a bit harder on you.:rotfl:
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For what it's worth I think you should put most of it towards Christmas but keep £20 back and just have a couple of hours to yourself one afternoon to have a coffee & a cake and see if you can find yourself a nice bargain in the shop...if not buy a fab bottle of wine
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Bank Balance: In the black for the moment.
Sainsburys Loan: Cleared July 2010
Credit cards: AMEX Airmiles Card: direct debit set to clear balance monthly
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I'd put it towards Christmas
Is your son finishing further education? Because it can now be paid until 20 ifh he's still at college!No longer using this account for new posts from 20130
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