Diary of member 65 of the DFW nerd club

Slayerx

So I've finally decided to start a diary.

A little about me.

I'm 31 years old, work for one of the biggest building societies in the UK and feel proud of an organisation who seem for on the whole to really want to deliver exceptional service.

I currently have about just under 3k in debt to clear, once this is done the goal is to save save save !

I want to be looking at a mortgage with work in the next few years, sooner if I happen to get my debt cleared sooner.

I'll look to update this weekly normally Mondays.

The main reason for this is, I usually on Mondays login to my online banking and make overpayments off my credit cards.

So today was a pretty good day.

I made my final loan payment to HSBC, So from March I will be £175 a month better off.

I've been accepted for a 0% card today so will look to move either my HSBC or Barcalycard across once I find out my credit limit.

I did overtime Saturday gone which will be added to my March wage.

That's all for now.

Slayerx

roxy7699

Congrats on the final payment and good stuff on the over payments. Are you going to put the £ 175 towards the cards now?

Slayerx

Thanks for reading, yes that's the plan to use about £150 towards the cards and put £25 to one side this is to build up a small emergency fund.

So found out the 0% card has only got a limit of 500.

The plan is to move as much as I can from Barclaycard leaving about £100 on the card and just clearing it off when I get paid next week.

I will then pay off the 0% card by August when the deal finishes and then use that card monthly and clear the balance in full by DD.

I've estimated with a limit of £500 I can move about £460 over and pay it back at £80 a month.

roxy7699

Sounds like a good plan - keep 'us' posted.

Slayerx

Had a nice surprise today

One of the deals for paying off my loan with HSBC was to get back 10% of the interest, it was credited to my account today £130.00

So I have just paid it off my barclaycard reducing the balance to approx £485, so I should be able to balance transfer £460 once my new card comes through and then close down my barclaycard next week in full on Friday.

I also got back £49.00 today as I get up to £60 a year back from dental fee's

Slayerx

So after taking to the new credit card company, I had to leave £100 free on my new BT card. I managed to balance transfer £388 so I have just less than £100 left to clear of my Barclaycard.

I get paid next Friday so I'm going to close it down and just have to have a few extra no spend days

I have put £25 into my ISA and so it has just over £50.00 in there.

I have also increased my Halifax credit card payments to a fixed £50.00 a month to start slowly chipping away at the balance.

The balance transfer means I need to clear £400 from now until the end of August meaning I will pay it off at just under £60 a month

Slayerx

Well after applying for another balance transfer card today, on the off chance of getting it with Barclays I was accepted :j

I'm waiting to see if I get the card as I was shocked with it having a 10k credit limit.

What this means is I can now put my HSBC and Halifax card on to the one card and manage it all by one payment a month.

I have now have to work out the best way to pay it off as it's 0% for 31 months.

I'm considering paying the minimum payment each month and putting what I was looking to pay off into savings to earn me a small amount of interest.

Maybe i'll wake up and this was all a dream :rotfl:

Slayerx

Well It's a busy few days, had a great valentines weekend.

Hope you all did too.

I got my Barcalys platinum card today so I have managed to balance transfer my two credit cards to this new 0% card

I've also now downgraded my HSBC account saving me £13 a month and so with this and the interest I'm saving I now feel super confident about being debt free.

So now I need to monitor the card and make the calls next week to Halifax and HSBC to close the old credit cards down.

Slayerx

I've been very busy but I have some good news.

Work announced its financial statement last weeks 10% Bonus due March plus overtime.

I've worked out my payments to and aim by December to owe just £1045 which will still be interest free That's from a start figure this year of just under 3k.

This along with putting into savings £300 a month plus my bonus so next March getting a mortgage might actually become something within reach.

Slayerx

It's been a busy few weeks but with lots of good news at work.

I found out last week my bonus was going to be 10% and that I would be getting a 2.8% pay increase in May backdated to March.

Bonus went into my account today with overtime, this allowed me to transfer £1450 into my savings account this was my bonus £1150 plus my first months savings of £300.

My savings balance now stands at £1600.

I've changed my Capital One DD to £58.33 a month to clear the card by August of this year, this is when the 0% runs out.

My Barclaycard balance is £2155.58 and so I have setup a DD for £80 a month for now and will review this once I have closed own the Capital One card.

I've set myself goals to have in savings by the end of the year £3500.00 and by next Jan to start searching for a property close to work while I continue to save.

Hope everyone who takes the time to read this has a fantastic weekend

Slayerx

Not much to report.

I've started to take a pack lunch to work which is saving me £3 a day.

So my weekly outgoings for travel and lunch were about £5.10 a day and are closer to £4 a day now.

I'm going to revise my Barclaycard payment to the aluminum from next month and put the difference into savings to earn some interest on it.