Too much month at the end of my money!

Fluttershy2013

The title is most definitely true!

I have been a massive lurker on this site and truly having my light bulb moment.

It is payday tomorrow, which has spurred on my desire to properly budget and sort it out.

Our family consists of my partner, me, and our two children.

Debts

• Barclay's £5,520.00
• Lloyds £ 997
• Overdraft £700

The Lloyds and Overdraft are both interest free, Lloyds another 11 months and Overdraft for another 8 months.

I am tackling the Barclay's first and foremost any extra monies will overpay this.

Currently have £26 sitting in account, seeing as we have everything we need tonight I will overpay this on the Barclaycard

Fluttershy2013

Right so payday today, yesterday I had a few pence more than I thought so paid £30. today I have paid £200 to the credit card but have kept a bit back as its my daughters birthday next week.

I put my figures into the snowball calculator and with a minimum payment of £200 each month it says I will be paid off in 36 months!!
The payments today have knocked it down to 34, still quite shocking, hoping to pay it off in 18 months hopefully.

Plan on doing on a food shop later at Morrisons, collecting those tokens to get some money off my Christmas food shop, hopefully sticking within my budget.

I've seen these amazing rainbow muffin recipes which the kids really want to make, had a quick google of food dye and its £1 plus a bottle shocking to be honest and the recipe calls for like 6 different colours, really need to shop around.

laurag89

Just wanted to wish you some luck! Sounds like you have a good plan in place to get the debts paid off aswell as budgeting.

I owe Pretty much the same on my Barclaycard which is on 0% and I am trying to get rid of mine within two years. These credit cards are a nightmare, especially when they get off their 0% period.

I look forward to hearing your progress

Fluttershy2013

Thank you Laura, I have definitely had my LBM, the interest is a lot I think for every £200 I pay at payday its £80 to interest :O

I managed to buy all the ingredients for the muffin bar the baking powder! so not yet managed to attempt them instead we settled for chocolate corn flake cakes.

Not paid anything else to the credit card, however have found a good few things to list on ebay but will do that at the weekend when my partner is at home to keep the children busy.

Tinytott

Can you shift your barclays onto an interest free card?

Tiny

Fluttershy2013

I have decided against it because I feel it could make it worse for myself and so easy to fall off the wagon, I want this to be a lesson to myself and to self motivate me in paying it off faster, if I did shift it I think I would become very slack with paying it off.

Thank you for your input

laurag89

Fluttershy2013 wrote: »

Thank you Laura, I have definitely had my LBM, the interest is a lot I think for every £200 I pay at payday its £80 to interest :O

I managed to buy all the ingredients for the muffin bar the baking powder! so not yet managed to attempt them instead we settled for chocolate corn flake cakes.

Not paid anything else to the credit card, however have found a good few things to list on ebay but will do that at the weekend when my partner is at home to keep the children busy.

Luckily mine are on 0% but saying that, it does make you think you have ages to pay it off and then before you know it the 0% has finished and you have barely cleared anything.

Its horrible seeing such a lot of money disappearing to companies in interest. Thinking positively though it makes you more determined to get it paid off.

Fluttershy2013

Last week was manic, daughters birthday and party, car put in the garage new tyres and brakes. I did however make £120 on ebay but that has sadly been swallowed up with the above things, ahh well at least it wasn't paid for by the credit card.

Back to debt busting, have some more things to list tonight hopefully will do well on them as well.

Also have my daughters school photos to pay out for, but they're all lovely really hard to choose. I received my park vouchers last week so Christmas shopping may be finished just a few more things to get and I will be done