Catriona's Credit Card Countdown

catriona79

AspiringButAnxious wrote: »

You're doing so well — hope you enjoy the theatre

Personally, I would try to pay off the ccs rather than transfer them, but this is based on my own emotional perspective. Mathematically speaking, it makes sense to keep the cc debt on 0% and keep your savings, but human beings are not unfailingly logical. I get a kick out of knowing I have fewer debts and less debt overall, so I would find it more motivating to pay off the cc and then build my savings back up (keeping some savings in the meantime as a buffer). It would make me feel more "free" and less stressed, because the cc debts wouldn't be taking up any headspace.

Thank you sweetie for the praise! I feel like I'm doing much better now, it's all due to having two lodgers, more than with being really strict with myself though!

I can totally see what you're saying, it would be such an achievement for me personally if I could say that I've got rid of all my debt! To be debt free would just be amazing!

Thanks for your opinion. X

clearmydebts

De-lurking to say hi!!! I'm Irish too, lived in the UK for 8 years and now at home.


I would wait and see what the job situation is. If it is safe I would get rid of all the debts and then build back up your savings. Mentally it is less stressful to be debt free I think!

Rebecca01

Hi Catriona

Love reading your updates. Just a thought on closing down your credit card. Does the scoring really matter. We have all heard its just a number lol but seriously- Do you need it? Your mortgage is through. Only if you want to get another credit card it may impact but then again maybe not.

Just a thought.

Orange_Ena

catriona79 wrote: »

I found this quote on a blog and had to re-post.

Had a very positive weekend and feeling good!

And it's pay day on Wednesday and I'm going to London to see Nicole Kidman on stage and stay with a great friend, where we obviously are going to have a great time.

Looks like mortgage is pretty much done and maybe another week or two and it will be cheaper. Think 28 Oct is the last month I'm going to pay it to the old bank. I did my budget today and have worked out how much is reasonable to have per month on all discretionary spending and food. If I stick to that I will be able to pay off my £900 Virgin card. It would be an amazing feeling and the first time ever I've actually paid off a card completely and not just moved a chunk to another card. It needs paying off by Januray, when it will become interest bearing, so this is all in good time.

I'm feeling motivated to try and do something interesting and challenging, that would stretch me. I'll have to think of what and how to make that happen. Hopefully I'm heading for a positive spell now, where I believe that everything is going to be fine rather than worry! . Badly needed!

Ooh hope you're having a lovely time in London with your friend. Oops nearly forgot......happy payday :j:T:j:T:j:T:j:T:j:T:beer::D

It's all looking good with the new mortgage payments and your plan to take over the world, I mean pay your credit card :rotfl::D You are so close to being half debt neutral, that's fantastic. I personally would pay them off but that's only cause I'm desperate to say I'm debt free, apart from the mortgage. If you have the means to pay them by being debt neutral, that's brilliant too. If anything did happen with your job, you'd have some money to live on, but would still have the debts. But if you paid them off, your outgoings would be less as in you're not paying for the debt, but if you couldn't get a job, that debt would soon increase. It's all much of a muchness then.

I think you are in a good position though with your lodgers paying your mortgage with spare. If the SHTF, would you be able to manage for a while on the lodger income? Can you cover basic living expenses and minimum cc payments? You have got options. And I'm just rambling now!

Enjoy the rest of the week :beer:

catriona79

clearmydebts wrote: »

De-lurking to say hi!!! I'm Irish too, lived in the UK for 8 years and now at home.


I would wait and see what the job situation is. If it is safe I would get rid of all the debts and then build back up your savings. Mentally it is less stressful to be debt free I think!

Hello and welcome :j:beer::j:beer::j

Thanks - appreciate your angle. I think it's wise to wait until the job situation clears up and using this time to get ducks in a row.

I can't even imagine what if would be like to be debt free, never having to worry about the payments and also having a stash of savings too! That would be so cool.

So, you're back in Ireland, debt slaying? Did you move to be closer to your folks?

I'll go and be nosey now and see if you've got a diary

catriona79

Rebecca01 wrote: »

Hi Catriona

Love reading your updates. Just a thought on closing down your credit card. Does the scoring really matter. We have all heard its just a number lol but seriously- Do you need it? Your mortgage is through. Only if you want to get another credit card it may impact but then again maybe not.

Just a thought.

Hello lovely.

Thanks for your opinion. Yeah, I get what you're saying - does it matter about the score if the aim of the game is to not need credit! Maybe I'm overthinking it too. I'm known for it hee hee ;):A:rotfl:

How have you been, what have you been up to? I'll pop over to your diary in a minute x

catriona79

Orange_Ena wrote: »

Ooh hope you're having a lovely time in London with your friend. Oops nearly forgot......happy payday :j:T:j:T:j:T:j:T:j:T:beer::D

It's all looking good with the new mortgage payments and your plan to take over the world, I mean pay your credit card :rotfl::D You are so close to being half debt neutral, that's fantastic. I personally would pay them off but that's only cause I'm desperate to say I'm debt free, apart from the mortgage. If you have the means to pay them by being debt neutral, that's brilliant too. If anything did happen with your job, you'd have some money to live on, but would still have the debts. But if you paid them off, your outgoings would be less as in you're not paying for the debt, but if you couldn't get a job, that debt would soon increase. It's all much of a muchness then.

I think you are in a good position though with your lodgers paying your mortgage with spare. If the SHTF, would you be able to manage for a while on the lodger income? Can you cover basic living expenses and minimum cc payments? You have got options. And I'm just rambling now!

Enjoy the rest of the week :beer:

It was payday ha ha and there's not even half of it left in the bank now! :eek::rotfl: the way of the world!

Yeah, I think if I got made redundant, I'd appreciate the savings. Card repayments will now be £150 a month, so not a massive amount, mortgage will be lower too. I've just had a quick count and I think the basic bills come to £850 now per month.
On top of that its food and petrol. And the £150 debt. So, in theory my lodgers (£900) pay for bills and my savings can pay for the rest, if SHTF.
So perhaps I'll pay off the £900 Virgin straggler, close the account and then see what work say. If it's bad news, I'll not pay off any more for now, and move my current debt onto the longest 0% I can find, buy some time.

London was amazing I still can't believe we got to see Kidman on stage. She was amazing.
The drive back this evening was a nightmare though! Tireeeeed.

Have a good evening

catriona79

Good morning dear ladies.

My weekend in London was a mega cheap one, only £23 on a meal out and some pennies on buses and the tube.
Most of the time there was spent cleaning and unpacking my friend's belongings, and what a buzz I got out of it too! I know I'll have to move soonish, I love the excitement and the vibe!

Off to look at some property !!!!!! now!

Rebecca01

Hi Catriona,

Glad you had a lovely time in London. Property !!!!!!:rotfl:

That is what keeps me going too. Food !!!!!! when I am dieting also.

I could look at property all day.

Hope you find out about your job soon so you know where you are at, but at least you are in a position to have some security. So you don't rush into anything, but don't over think it. Lol xx

bellevie

First time I have caught up properly in a few days. Your trip to London sounded good, glad you had fun!

I would do as you had planned clear the smallest card, keep your savings as a safety net.

If you are confident your savings & lodgers could carry you for a while in the event of a job change going forwards I would throw every spare penny (allowing enough so that you can still live and have fun) to the debts, to try and clear perhaps your next smallest debt.

And ditto to property !!!!!!, its addictive stuff!