Order to pay off debts

matttye

You pay £15 a month in fees for your overdraft.. do you mean fees and interest or is that just fees? If you pay interest on top, how much are you paying for your overdraft each month on average?

And what are the interest %s for the two credit cards when the 0% periods expire?

FinanciallyUnsavvy

The £15 or so each month (more like £12 currently as I've reduced it a bit over the last couple months) is everything I pay on the overdraft.

I don't know off the top of my head what the interest on the cards is after the 0% period because I will have paid them off before tha time!

Thanks for the advice MrGreen. Being debt free in 18 months sounds amazing to me. I'm hoping I can work that bit harder to get that down to 12 months...

matttye

FinanciallyUnsavvy wrote: »

The £15 or so each month (more like £12 currently as I've reduced it a bit over the last couple months) is everything I pay on the overdraft.

I don't know off the top of my head what the interest on the cards is after the 0% period because I will have paid them off before tha time!

Thanks for the advice MrGreen. Being debt free in 18 months sounds amazing to me. I'm hoping I can work that bit harder to get that down to 12 months...

0.84% ish interest on your overdraft.

In the interests of saving money if you can throw extra money at your overdraft for a few months and still have enough time to pay off both cards before the interest free periods end, you should do that.

I know paying off a debt can give you a warm fuzzy feeling and it's therefore tempting to go for the smallest as I've been there, but your overall debt will be paid off more quickly if you can do ^ that.