Debt Free Progress

dylan2011

Well done, you seem to be doing brilliantly!

elfy1807

Hi.
Well done on what you've achieved so far.

Curious question... would you be penalised if you transferred some of your loan balance onto your Natwest card, providing you've got balance to spare on it?
That way you've got most of your debt on a 0% interest and your loan amount will be decreased.
Then maybe when you've cleared another £500 gap or so on your Natwest through monthly payments, transfer some more over.
Although you're still paying off the same amount of debt, you'll be paying less in interest.

Sorry if that's confusing or if it's a silly thing to suggest (I don't know massive amounts about cards and loans and switching them here and between etc) but it's something I personally would look at if possible.

Good luck with your journey, you're doing brilliantly

financialdisease

Well don AM you are making excellent progress

arsenalmorris

Another pay day is here, got some more overtime in so had another good pay check but not as good as the last one,

Unfortunatly I spent £496 on CC1 last month, Mainly due to the fact i got FA Cup final tickets and that whole day out cost me near enough £350 but it was worth it and my debts still ended up £900 less that they were a month ago anyway so all is good, Here is this months detials.

This months payments are:

£196.57 to loan (£7503.33 remaining)
£496.99 to CC1 (£0 Balance)
£550 to CC2 (£1200 remaining)

Total debts now stand at £8703, and left myself £500 spending money for the month after bills so hopefully not spend to much on CC1 again

Tiggyw00

I think you're doing really really well at reducing your total debt amount but......imagine how much better you could do if you lived within your means for a couple of months?? You have £500 to last you the month, so why not try to stick to it and not put ANYTHING on CC1. In fact, cut up CC1 and close the account so you're not tempted?

The footie season has finished so there's nothing there to pay for.

Just think what you could do over the next couple of months??

Good luck.

chelle1981

Hey- you seem to be doing well but I would agree- cut up cc1- in the last 2 months you have nearly spent as much as the balance on cc2- so actually cc1 and cc2 could have been gone by next month if u hadn't spent on cc1- I presume after you've cleared debts your going to start paying rent?

Gleeful

You are doing really well!

[Deleted User]

arsenalmorris wrote: »

The 2nd credit card is interest free for another 21 months

You could clear it in exactly 21 months, at £150pm, so I'd be inclined to do it that way (or pay the minimum, if currently greater than £150), and use the extra to pay off a debt which is costing you interest.

arsenalmorris

chelle1981 wrote: »

Hey- you seem to be doing well but I would agree- cut up cc1- in the last 2 months you have nearly spent as much as the balance on cc2- so actually cc1 and cc2 could have been gone by next month if u hadn't spent on cc1- I presume after you've cleared debts your going to start paying rent?

Hi, Thanks for the comments, Nah i wont be paying rent, Will start saving when there gone, Can probably put away between £500 - £1000 a month when i have no debts so will be going towards a new car