Dreams of becoming debt free

Mara_uk7

The savvy people would say pay off the highest interest ones first, But I always felt a small victory when I could pay off a small one completely. One less Creditor felt good.
As long as you can make the minimum payments, it wouldnt hurt too badly to pay off the wee ones, if only to make you feel as tho youre actually getting somewhere.

macfanuk

Mara_uk7 wrote: »

The savvy people would say pay off the highest interest ones first, But I always felt a small victory when I could pay off a small one completely. One less Creditor felt good.
As long as you can make the minimum payments, it wouldnt hurt too badly to pay off the wee ones, if only to make you feel as tho youre actually getting somewhere.

Thanks, I do see it from both sides...on one hand, Very (for example) is 44.9% APR so even with a fairly high monthly payment, it seems that it never goes down, but on the other hand, like you say, it would be great to have fewer creditors.

I may alternate it...one month pay off a bit of multiple (like I've done this month) and the next month, pay a lump sum off one of the catalogs.

macfanuk

Hoping to have completely cleared the capital one card this week, I was just wondering if anyone could offer any advice on resisting the temptation to use the card again (without cutting the card).

Ginger_Bearded_Genius

macfanuk wrote: »

Hoping to have completely cleared the capital one card this week, I was just wondering if anyone could offer any advice on resisting the temptation to use the card again (without cutting the card).

Something I find useful is to freeze the cards I don't want to use in a block of ice in the freezer (I usually fill an old Flora tub with water, leave it in the freezer for a bit, then put the card in and leave it to freeze solid). Whatever container you use, don't fill it completely as the water expands as it freezes.

This way the card is still available for emergencies, but the time (and/or effort) needed to get at it means you have time to rethink frivolous purchases, and stops impulse spending. Works for me at least ^_^

macfanuk

Haven't been on here for a while but have made a huge push recently to get some of these debts paid and most of them are now below 50% of the credit limits.

We're looking to buy a house soon and I really want to get these debts cleared so that we can get the house we want.