Paying the credit card - the joy of internet banking

carrie78

I'm sure that most of you probably do this already but I thought I would share something that has really helped us.
We have been trying to pay off a credit card debt. I have found that little payments really add up.

As we have internet banking we can pay any payment. We have always tried to save on things but not put the actual money saved by or towards anything. Every time we save money I pay it onto the credit card. Examples below:

OH has swapped to sandwiches and now pays the £4 a day he saves onto the card, likewise myself £7 a day (fighting a diet coke vending machine addiction).

If I drive through blackwall tunnel on the way home instead of dartford I log on and pay £1.

It costs me £25 a day to get to work and back and my OH about £10 a day so if either of us have a days holiday (or sick) that amount gets paid to the card.

I get a discount on my mobile for work so each month when I find out the discount i log on and pay it off the card.

This has helped us make a bit dent in our debt without actually really costing anymore money as it was all savings. It is very satisfying to see it dropping your debt day by day and not really noticing the overpayments as we would have spent that amount that day anyway.

I hope this helps someone as it has really helped us I also hope this makes sense I'm on night shift and very tired.

Thanks
Carrie

tealady

That is a fantastic idea. I will try that myself. Althought I do pay my card off in full each month sometimes the bill does come as a bit of a shock.

FrugalJo

Carrie
I so agree with you. Everything I get from Quidco or amazon goes straight through to the card. It's the little things that make the big things happen.

beemuzed

Great idea - being "thick" on occasion I never realised you could make lots of little payments as and when!

nonsensefactory

£25 per day to get to work and back ? Is the train cheaper ?

magentadreamer

Thats a great idea! Do you do a monthly "snowball" check after you've made all of your little payments as well? I found the boost I got seeing it go down a month or so was great!

GirlRacer_2

I started doing this a few months back following the advice of someone on here. It really does add up. It's got to the stage now that the postman needs hoist to carry my credit card statement as there are sooooo many pages of small payments

Snaggles

GirlRacer wrote: »

I started doing this a few months back following the advice of someone on here. It really does add up. It's got to the stage now that the postman needs hoist to carry my credit card statement as there are sooooo many pages of small payments

Lol, sooo much better than pages and pages of purchases though!

carrie78

nonsensefactory wrote: »

£25 per day to get to work and back ? Is the train cheaper ?

I'm afraid it would get me to work early enough. I work shifts though so I only go to work about 16 days a month.

Thanks
Carrie:)

Broken_hearted

This is a great idea as it gives you such a boost at the end of the month when you see how much those little payments add up to.

Crown

I love the sound of this idea as I always say that thats money saved towards the debt but if im honest it normally gets frittered away on something else although of course its all logged into the spending diary.

I may add a part to my diary with money saved. I dont really know how I would make "small" payments as the account im trying to clear is on a repayment plan and I dont want them thinking I have more money than I declared to them.

Something Im going to have to think about!