Tales from the city

ani*fan

I'm having a spendy time of it just now, birthday present for sister, another for my pal, father's day looming, it seems never ending. However, I have the funds for it which makes everything much more fun. And I'm not overspending.

I can't wait for that cheque to clear so I can get rid of Cap 1. It should happen sometime between Monday and Wednesday. The question then will be whether or not to close the account.

in_need_of_direction

Close it. You need to.

Igamogam

Freeze it in a tub full of water.Give it to a friend for safe keeping.If you think you need a buffer for emergencies and you havent an emergency fund then ask for the credit limit to be reduced to £500 whilst you build up an emergency fund of equal value.If you dont need it then close it!

ani*fan

Thanks for the good advice. Ideally I would be able to close this credit card account but with emergency savings of only £60 I don't think that's possible just yet.

I like the idea of reducing the credit limit to £500. I'm not sure how much back up cash I need but £500 would cover an expensive mot and that's the main thing I worry about. Maybe I could keep reducing the credit limit in line with my emergency pot increasing? I'll have a think today and phone them up tonight.

I'll also update my signature tonight now that the payment to the card has been made. Happy day!

misstara

Hi ani*fan, reducing the limit to £500 and keeping the card for emergencies seems like a good idea as long as you don't spend on it for any other reason. Unfortunately I don't have that sort of willpower I like your plan of decreasing the credit limit as your emergency fund increases.

ani*fan

I just bit the bullet and got my Cap 1 card limit reduced to £500. So far the world has not come to an end because of this so that's fine. It was the right thing to do.

I've had a seriously spendy month but amazingly my debt has till gone down. I need to have a look and see how much by, I still didn't get round to altering my debt total.

Hope everyone is ok.

ani*fan

I got a phone call the other day from someone wanting to buy my amp. He was going to ring back to arrange a time to come and look at it but so far hasn't. Bummer. My Virgin credit card could really do with a dent being made in it but I guess it will need to wait.

I've had another look at my budget as it doesn't really work yet. I don't know why or how but the amount I set aside for things just doesn't cover what I need it to and I keep running out of cash. I am determined that this month will be better. I think I need to start properly using the envelope system. It seems to work really well for other people on here and I've never managed to give it a proper go. So this month I'll trial run it.

I plan to increase my budget for food, pet stuff and household stuff. I just don't think my current budget is enough and I keep going over in this area then beating myself up for it. So that will be £200 in an envelope. I also need to take petrol money and put that in an envelope too. This coming month it won't be much as I won't have any study days, I will have a trip or two home though so maybe £100 will cover it.

Now that I've written it on here, I'll have to do it!

Igamogam

Middle of the night postings Ani:eek: Envelope system is handy - think I need to have an overhaul too

ani*fan

Well it's pay day tomorrow so thank goodness for that. I don't think I've done very well this month with debt reduction but hey ho, onwards to another month.

I was supposed to be going to visit a mate last night for wine and a takeaway. This also would have involved a taxi home. I just couldn't afford it so saw her earlier on in the day for cups of tea and chat instead. It was just as good, I could drive there and back and the whole thing didn't cost anything except some petrol which was in the car already.

I'm going to put the envelope system in place this coming month. Anything is worth a try to get a better handle on the spending. In the meantime I have work to do for Uni that might keep me out of trouble and away from spending.

Happy debt busting Sunday everyone.

ani*fan

I just updated my signature to try and inspire me a bit. The total today is not as low as I hoped it would be but still, it's all moving in the right direction. After I get paid and July's payments have gone out my debt total will fall below £17k for the first time in ages.

Still no word from that guy about my amp. I need rid of this thing! And I could use the cash!