Catriona's Credit Card Countdown

edited 15 March 2013 at 9:41PM in Debt Free Diaries
680 replies 54.4K views
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  • catriona79catriona79 Forumite
    855 Posts
    I eventually want us to get a place together and then split all the costs for example redecorating, new furnature or if needed new bathroom/kitchen. By then I will pay a % of what I make (but I want to clear that little bit of debt off first). But right now Id rather we both save up for a home together in the future.

    I think we've reached an agreement Id move in a pay 50% of bills and groceries while Im still sorting out debts and emergency savings. I havent talked to him about signing the agreement yet because I going to try nearer the time. :o

    If I explain why I dought he'd disagree. Although if we broke up I would just move out most of the stuff in the flat would be his so I wouldnt want it (Id just move back into my own furnished flat). I have all my letters at my parents address and my bills are online so I guess I would just pay up my half and go. :A

    It shows what a different perspective having got yourself into debt and then having your lightbulb moment gives you. Your bf sounds like me when I first got my house. It makes sense at the time, but it takes forever to pay off.... I understand your position and hope you can have a good chat and explain to each other your positions. I'm on your side re using credit to fund niceties. Essentials, fair enough... I don't think that you can understand the sheer drudgery of paying debts off until you've been through it. It's a bit like learning from someone else's mistakes... Can't really work.
    My bf is a credit virgin too. ;) we each have a v diff approach to finances, and I think I have a little bit to learn from him. He's much more relaxed about it and puts less pressure on himself. Like you say - need to find a middle ground!

    Your arrangement with bills sounds very sensible. Your boyfriend is very kind too.

    I'm feeling a bit guilty because I can't offer a similar arrangement to my bf.
    I've asked him to split the bills but I if I ask him to give me half the mortgage then I will be £70 out of pocket compared to what I get from my lodger (and could still get, as there is someone willing to move in).
    I do feel though that I can't at the moment because the house has got to pay for itself... And I'm already thinking of nothing else but how to get rid of my debt... I don't think he'd mind if I asked him to pay £300 rent on top of the £110 we have agreed on for the bills.
    Ill have to have a think. Oh I really hate to talk about money with people I care about...
    * * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
    Barclaycard -£5,867.52;
    mbna1 - 3,009.22
    mbna2 - 1,755.70
    Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.04
  • beanieloubeanielou Forumite
    79.9K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    ✭✭✭✭✭✭
    But talking about money with those we love/care about is one of the most valuable things we can do.
    I wish I had learnt that when I was much much younger.
    Yopu can ask him for the 300 & if I was you I would ask for half of the 70 too.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • catriona79catriona79 Forumite
    855 Posts
    catriona79 wrote: »
    Thanks for that StarSlimmer. I'm trying to work it out so I can do the same thing. Following your example, I've now worked out my total bills and CC payments and deducted those from my income. Then set myself a budget for entertainment and clothes and food and then worked out how much I should transfer to savings.
    My DDs are already, wherever possible set to go out on 1st of each month (though some CCs won't commit to one single day) so, when I get paid next, I shall do that same thing and only leave in my acc what is necessary to get through the month. That way I will be able to see it decrease and if I.e. I overspend on going out, then there will be no money for clothes etc. fingers crossed I can stick to it! QUOTE]

    In the future I was going to use :money:Martin's Piggy bank accounts and set aside money for the following short term and long term financial goals. I have prepared a spreadsheet to use in the future. But I agree that having money for Girl mainanentce (Hair cut, waxing ect) would be handy or when you have an event to go to but have no money!

    Piggy Bank Accounts for;

    1 Christmas/Presents
    2 Savings & emergency fund
    3 Travel/Holidays
    4 Big purchases (kitchen 5000, bathroom 1000, car 3000, )
    5 Mortgage extra repayments

    Re piggy banks, I will do the same from October onwards, once I have paid my car insurance at the end of June and then tax and MOT in September. The car expense always completely throws my budget out and I hate it. I promised myself that I'd do it last year but never got round to it. That's got to change now. I've got to make my finances as predictable as possible. It's not like I don't know these expenses happen each year, so no excuses.

    It's nearly 10pm... One more week and then I have a week and a half off.
    My bf is taking me away to what was supposed to be a surprise location. But while he was booking flights to Portugal today, I looked at his screen and there it was, the destination!:( Barcelona! I am so very excited. I've been there before and loved it. Can't wait now!
    * * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
    Barclaycard -£5,867.52;
    mbna1 - 3,009.22
    mbna2 - 1,755.70
    Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.04
  • edited 13 May 2013 at 11:08PM
    catriona79catriona79 Forumite
    855 Posts
    edited 13 May 2013 at 11:08PM
    Hope everyone is well?

    I got a bit depressed this morning, as applied for a Halifax Clarity card for overseas spending and was rejected... Even though Martin's pre-eligibility check said 90% success rate... It just brought it back into perspective.
    But looking on the bright side, at least ill have to take cash to Barca and curb my spending.

    Aargh I can't wait to see the back of this debt. I reckon it will be much better towards the end of the year. Just need to soldier through.

    I have all of my three cards' 0% periods coming to an end then though.. Jan, Feb and March. I will try to apply again in January for a balance transfer and cross my fingers that I will get it! Otherwise this is going to be a very expensive CC loan. I thought about all of it too much and it sent me into panic mode. But let's hope it will all be ok. I think I'm being a bit silly worrying about it now. Nothing can be done and I may well be ok applying in early 2014, especially if by that time I reduce my debt by another 3k.
    * * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
    Barclaycard -£5,867.52;
    mbna1 - 3,009.22
    mbna2 - 1,755.70
    Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.04
  • Ddidn't want to read and run: you're doing really well, and you just need to keep it up.

    Don't worry too much about the Halifax card, and January is a long way off for the next balance transfer. It'll work out, if you stick at it.
    Total debt: [STRIKE]£9473.62[/STRIKE] £7,384.87 22% PAID
    TAF #25 NSD 8/12 | Food £43.45/£50 | eBay 0/20 | Exercise 5/18
    :T Proud to be Dealing with my Debt :T
    DFD: June 2015
  • Mara_uk7Mara_uk7 Forumite
    1.2K Posts
    Seventh Anniversary Debt-free and Proud!
    ✭✭✭
    Barcelona is gorgeous, Love Guell Park, All those mosaics .... such beautiful gardens. Not so sure about the catherdral tho, Ill probably be shot down in flames, but I think its just a blooming mess ! lol
    Las ramblas ........ What can I say ... Take plenty Euros !!

    I really want to go back !! Dammit !! I need a holiday this year.
    Its just a bad day, Not a bad life .. :cool:
  • dktreeseadktreesea Forumite
    5.7K Posts
    Hi Catriona,

    Have a great time in Barcelona. Even if it means spending a bit more, those memories will carry you through some of the dark times ahead, when the drudgery or repaying debt starts to gnaw away at you.

    I find it's important not just to have good memories, but also to have something to look forward to. Not necessarily going away but things like having tickets for a show, one off stuff rather than just the usual "going out" at the end of the week.
  • edited 14 May 2013 at 5:14PM
    catriona79catriona79 Forumite
    855 Posts
    edited 14 May 2013 at 5:14PM
    beanielou wrote: »
    But talking about money with those we love/care about is one of the most valuable things we can do.
    I wish I had learnt that when I was much much younger.
    Yopu can ask him for the 300 & if I was you I would ask for half of the 70 too.

    Quite right, Lou. It is important to learn to talk about money matter of factly, without shame. I need to get much better at it. I just feel shame and that I shouldn't ask.

    I took a brave step today. Or rather late last night.
    I wrote an email to my ex who kindly took out a CC for me (that's Bclaycard1 in my sig). The 0% on it comes to an end in Nov 13 and by that time I will still owe £1800 on it. I could try very hard and maybe, using my overdraft, would manage to pay it all off on time, but the stress of it was so much. So I wrote to him with a payment plan, and asked him if he could extend it by 5 months. The kind person that he is, he said that it should be ok.

    This now puts me in a much better position to clear my Black Horse card, currently at £1800. It is the one with the smallest balance, but the 0% period was not very long, so it runs out in January '14. The thing is, that it has a humongous credit limit of £7k, which, I think, might stop me from getting other cards.
    So my plan is to keep paying the ex at 200 a month, and throw all overpayments at the Black Horse, to clear it asap (maybe Nov 2013) and close it down. Then a couple of months later, in Feb and March when my other two cards come up for renewal, it should be easier to get new balance transfer deals. That's the plan anyway.

    Driving to work this morning I was thinking of consolidating it all in one loan against my house and finally breathing freely... yes, I would consider it a bit of a failure... But the counterargument is that it would allow me to enjoy life a bit more. Oh, it would be lovely to stop worrying about the debts and have more of a salary to save up and gain some security.

    This will probably keep coming back each time I have a set back...
    * * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
    Barclaycard -£5,867.52;
    mbna1 - 3,009.22
    mbna2 - 1,755.70
    Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.04
  • catriona79catriona79 Forumite
    855 Posts
    Ddidn't want to read and run: you're doing really well, and you just need to keep it up.

    Don't worry too much about the Halifax card, and January is a long way off for the next balance transfer. It'll work out, if you stick at it.

    Thanks for your kind words, KarmaChi. :)I do need to stop grumbling so much. I think it really got to me yesterday. :o

    You are right, best thing to do is stick at it. Then tackle it when it's time.

    We can do it!!
    * * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
    Barclaycard -£5,867.52;
    mbna1 - 3,009.22
    mbna2 - 1,755.70
    Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.04
  • catriona79catriona79 Forumite
    855 Posts
    Mara_uk7 wrote: »
    Barcelona is gorgeous, Love Guell Park, All those mosaics .... such beautiful gardens. Not so sure about the catherdral tho, Ill probably be shot down in flames, but I think its just a blooming mess ! lol
    Las ramblas ........ What can I say ... Take plenty Euros !!

    I really want to go back !! Dammit !! I need a holiday this year.

    Hi Mara :j:j:j

    Yes, I am so excited!!! I will have a good look on the internet for places to go and see! My bf kindly put us up in an extremely nice hotel for the last two nights, as a special birthday treat.
    I will be googling Guell Park, thanks! :D You seem to know Barcelona quite well! Any recommendations for places to eat?
    * * * Catriona's Credit Card Countdown * * * from -£16k to debt neutraldom - for my debt diary click here
    Barclaycard -£5,867.52;
    mbna1 - 3,009.22
    mbna2 - 1,755.70
    Savings £5,017 MFiT #25 £2,627/£10k; daily interest £5.04
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