Half The Interest Challenge

Dr_Hook

Congratulations Boo! :T Glad you got in too. :beer:

Self employment's new to me too, but from what I know we'll pay of 22% of everything we earn in tax and NI conts are £2.10 per week (though you don't have to pay these if self-emp earnings are under around £4,500 ), so putting away a quarter of what you get from AQA should be more than enough. That said, I'm gonna stash away a third to start with - better to have too much for tax than not enough.

boo2905

It sounds a bit better that we only have to pay 1/4 of what we earn but as you say if you put more away at least we have the money there.

Now all I've got to do is work out which debt to pay it to first. Think I might throw it all at the credit card.

The other site I've just read about is yougov where you sign up and eventually get asked to complete surveys on the government. After you earn £50 they send you a cheque. Worth a try!

nickelodeon

Hi
Just wanted to mention to Dr Hook that I got a M&S credit card for the life of balance interest rate, but the limit they gave me was not enough so I phoned them up and explained that I wanted to do a balance transfer but that the credit limit was not enough and they increased it by £1000, just thought it might be worth you asking as I noticed you have other credit cards and as long as you do the balance transfer in the first 6 months you get the low rate for the life of the balance and there is no transfer fee.
Anyway good luck with the challenge everyone.

Dr_Hook

Thanks for the tip nickelodeon, I'll give that a try. I was going to ask when I rang to do the balance transfer but there was a bit of a communication problem with the advisor - think he had trouble understanding my northern accent! :rolleyes:

boo2905

Now I was wondering whether to increase my overdraft by £500 to pay that off my credit card so I'm not paying as much interest there -that would mean that I would be paying £10 interest on my current account though - what do you think? Or should I just leave it and pay it off quicksmart??

boo2905

Well I've sent my signed contract off to AQA so I can't wait for that to start up. I've also signed up to yougov and now ciao where I get paid to do surveys apparently but it can take some time for the surveys to come through - never mind though, money is money.

also my ebay stuff is not selling too well so I need to get some more things ready and waiting for Thursday night as it is the only night my dad is out and not using the computer. he's retired but he still manages to use the computer every night from 7 - 11:30pm even though he's at home all day :mad: and then kicks up a fuss when I say I need to go on it!!

Any advice as to what sells well on Ebay?

Dr_Hook

Just wanted to post a quick message of thanks to nickelodeon - just got off the phone to M&S and they increased my limit by £1,000, so I've transferred £1k off the Capital One card :j

Thanks for the top tip!! :T :beer:

Boo, I'm a complete newb when it comes to selling on eBay so I have no idea what sells sorry

mcardinalblue

Morning all

Sorry I have been unable to join in for a few days as work has been hectic.

I have just cancelled my Morgan Stanley card this morning I had hoped that by ringing them up they would beg me to stay with them, and offer a juicy deal, but no only a balance transfer of 3.9% for 5 months with a 2.5% fee and 5 months 0% on spending so that card has gone. It had a credit limit of £8,400 so I might wait a couple of months to see if cancelling it has improved my credit rating and I will apply for cards offering good balance transfer deals.

Well done Dr. Hook on increasing your M&S card limit, great deal.

Boo about your overdraft, my advice possibly not true DFW I know, is to not run an overdraft on your current account at all, this is because of the demoralising effect of seeing all your hard earned money going into a void. I can remmber a couple of years ago my over draft was £2,000 and every payday my money would go in and the account was still in the red, gloom and doom. Could you as others have suggested open another current account via quidco or other cash back site of course and treat them as loans paying back a certain amount a month while keeping the new account in the black. Even though borrowing money with an overdraft one of the cheapest options.

MCB

boo2905

Hi

Dr Hook - have you received the second test pack from AQA yet?

Dr_Hook

Hi Boo, was gonna ask you the same thing!

Not heard anything since I sent in my contract about a week ago. Wonder how long it takes?