Really should know better

debtfreeme2015

Well work have sorted out the error and my wages were paid this am :j.

It was nice knowing that I had my "emergency savings/Loan overpayment account" though should the wages not have gone in. Listening to everyone worrying about the money and knowing that in the worst case scenario I had it in the account.

Have put everything I was paid this morning into that account so now have over £2000 towards an overpayment, Am currently thinking that I will get it up to about £4500 then pay £3000 off of the loan which will still leave me enough should anything happen (should say I have some in an ISA, not much, but i'd rather leave it there for now).

So that's my current plan unless anyone has any other ideas. I do think saving it into another account then paying a lump sum is better for me now though.:rotfl:

Raggydoll85

Going good so far

I do the same as you, im paying minimum etc and saving to pay off in bulk.
Dads loan will be gone next month. and then HSBC in Feb

debtfreeme2015

Thanks raggydoll 85. Last time I paid it as I got paid but am hoping this way will work for me

chevalier

I think for some people, the debt is so overwhelming that they can't save anything. And by putting everything towards the debt, they can save on the interest they would be paying.

That said I think that if you have the choice then saving an emergency fund along the way is also a very good idea. It then means that you don't have to resort to credit if something important like the cooker blows up beyond repair..

And also in these difficult financial times, when in employment terms, we don't know what is around the corner having money to fall back on in the event of redundancy is also very important.
chev

debtfreeme2015

2 nsd's this week :beer:
But will be spending tomorrow as it's Wednesday and that means I get my niece for the afternoon from preschool. So need to get her something for tea. All ready got her after preschool drink ( 4 for a £1 in town and she has 1 each week) also need to pick up a few bits from £land

debtfreeme2015

Well as predicted a spendy day today (£27.00) but got bits I've not bought for a while and should last the month (at least) also a few treats (must try harder)

Also a £2.00 overpayment to the loan. Not a lot but don't know if loans work like credit cards and can tell if just the minimum payment has been made.:huh::huh:

Hope everyone's had a good day.

debtfreeme2015

Well just checked and have £9.40 left. I do my weeks Monday to sunday and this should last me as shouldn't need anything tomorrow then back on to a row of 4 nights and a couple of extras so may even hold on to it until next week

debtfreeme2015

:mad:Well it was a bad week last week and I did nothing but spend money:mad:

It was all kind of budgeted for from my weekly spends but it had some left over from the previous week that I wanted to keep to use on my week off however it's all gone and on rubbish from te**o.
This is my downfall it's only a mile from my house and where I wouldn't dream of going shopping in the city centre (10 miles will use fuel have to pay for parking etc) or if I do I can walk out without buying anything. I can't do that in Te**o

I bought all the things my niece likes when she came to stay weds and thurs then her dad asked me to pick them up a loaf of bread and I took the opportunity to fill there cupboards. then on the way to work I popped in for some pep*I and walked out with another 2 bags.:eek:
This has got to stop.

Any ideas to curb my Te**o addiction :rotfl:

debtfreeme2015

Well 3 no spend days so far and £11 left in my bag from last week. now to try and get back on track and hang onto it as long as possible

debtfreeme2015

Another no spend day yesterday but am going to be spending a £1 on some fizzy pop in a min as off to work to do n extra shift although am running late at the min so might not have time

Couldn't sleep last night and ended up looking at houses. (I currently live at home and am 30 next year:()

There are 3 shared ownership ones available which I think after my calculations I could afford monthly payments on. Unfortunately I'm no where near with a deposit.

MY question now is do I save and try and get a deposit (including all fees and the fact I have no furniture) think I would need £25,000 although this is a guestimate. or do I pay of the loan or do I try and do both.