I Wanna See the Light

Mysteek

I just wish I could stick to what I've agreed instead of 'pondering'. I seem to do a lot of it. This is what I'm pondering:

We have to pay for our 'Buy It Now' purchase by 11 September or start making payments at nearly 30% interest.

CC1, which has the highest interest at 26.4% (or thereabouts), is what we have been throwing all our money at, and is the only place we have any money 'spare' (not exactly the right word but I know what I mean lol).

The idea was to pay for the purchase on our CC1, thereby saving a bit of interest.

Sounds like a plan! Yep thats what I thought but then I started 'pondering'. As CC1 is nearly down to £2k from £8.8k it would be a big motivator for us if we could actually get the last £2k cleared off in the next 2/3 months, cut up the card and close the account. Fantastic!!

If we add the purchase to the card it will almost double the balance. So do we start monthly payments for the Buy It Now purchase, get the CC1 paid off and then save up and pay the BIN purchase off. Hmm

Ponder, ponder ponder......................

Mysteek

Whilst I’m having a good ponder, I’ve noticed that the H*lifax is offering a Clarity loan at 5.9%, with no early settlement fee and as many overpayments as you like. As my CC2 is with them (22+%) do I see if I can transfer my credit card onto one of these loans. Would save me loads of interest and when CC1 is paid off I can start making overpayments to this too.

Wonder if they would do this, or do I want the hassle of form filling, going into incomings and outgoings and all that stuff.

Will be so much easier when all this is just a distant memory… sigh!

Mysteek

Just remembered a couple of spends which contributed to our not being able to make extra payments to CC1 this week.

I really shouldn't beat myself up about this as its the first week we haven't put anything extra to CC1 for over 3 months. I think I'll feel much better and not so intense when the first credit card has been paid off, then I'll know its really really happening!:j

We had the dentist last week, thank goodness we don't need anything doing this time but it was £18.50 each for a check up, I'm sure it was only £17.50 each when we went 6 months ago!

On sunday I decided I wanted the bedroom decorating. Nothing fancy, just a freshening up of the gloss paintwork and the walls painting a neutral colour. At the moment we have a 'feature' wall i.e. the bed wall has wallpaper while the other 3 walls are emulsioned in a creamy colour. I just want all 4 walls emulsioned in a pale neutral colour and that way I can have different coloured bedding and curtains without having to change the decor. We also have a pale ivory carpet and have fetched the carpet shampooer back from DD2 so we can freshen that up as well when the painting is done. Had to buy some paint but bought the shops own brand so was ££'s cheaper than the main brands. Think it was around £18.

I should have gone to the opticians in July, I have to have an eye check every year as both my mum and dad had/have glaucoma. This means that I get a free eye test but end up having to buy 3 pairs of glasses, normal ones, pc ones and reading ones! I just can't afford to pay in the region of £300/400 each year for glasses. Last year I asked if I could have new lenses for reading put in an old frame (they're not actually 'old' as I never used them having got them under a 2 for 1 scheme previously). Well you would have thought I'd asked her to give me a million quid. She ummed and ahhed, saying it could possibly break the frame blah blah but finally relented and I only paid for the lenses. Needless to say, the frame didn't break! So I'm hanging on a bit before I go for my eyes tested.

DH needs a service (well not him, his car :rotfl:) so over next couple of weeks we need to put some money aside for that. He has to have 4 services a year due to the mileage he does.

By far, DH's expenses relate to his car as he couldn't do his job without it. We know when most of these expenses will crop up so we're gonna put money aside for each one at a time. For example, he needs a service in 2 weeks time so we put half away over next couple of weeks. Then it will be car tax end of November, so then we put so much away each week for that, so when its due the money will be there. And onto the next expense. Quite a lot due November/December/January time so lots to save up for and maybe not a lot extra going to debt
Oh well, maybe I'll get a bonus in December and a payrise in January ooohhh nearly got hit by that flying pig!

Mysteek

NOTE TO SELF: Remind DH for the hundreth time to clear off his mobile so I can sell it, should get around £60 at the moment for it.

Seasidegal58

Hi Mysteek


You say this is the first week in 3 months that you haven't paid anything off your credit card - well I think you deserve a pat on the back for budgeting so well. Things will crop up to sabotage plans but keep it up - you're doing great!:A

Mysteek

Hi Seasidegal, good to see you back.

Thanks for the pat on the back, any encouragement really does help to keep me going.

As its the first of the month, its roundup of all the balances so far:

Unsecured Debt
14 May 2014 £36,017.73 - 1 September 2014 £29,615.19 (-17.77%)

Mortgage
14 May 2014 £62,951.46 - 1 September 2014 £59,783.58 (-5.032%)

So everything coming down quite nicely, really pleased with progress, just need to keep the plodding.

Seasidegal58

Wow! That unsecured debt is falling like ninepins! Well done!

Mysteek

Time just seems to be getting away from me lately, good job the money isn’t as I have a death like grip on that!

Thanks Seasidegal, we are hoping for 3 strikes in a row!

We’ve been doing well lately due to DH having had an above average summer so we’ve taken full advantage and blitzed the debt as much as possible. The rest of September is carrying on in the same vein and October not too bad but is showing signs of slowing down workwise, which is normal.

Well we decided to put the Buy Now Pay Later purchase onto the credit card when it became due for payment as it will save us interest in the long run. I just hated seeing the balance go up when we’ve worked so well on bringing it down, it felt like we had taken a step back. We’re trying really hard to get the balance back down to what it was before the BNPL purchase was added, by the end of September. Working on projected figures, this is doable, so fingers crossed. I had set a target of end of December to clear off CC1 and thought at the time that it was a tall order. We’ve done so well that I’ve brought the target forward to end of November. I like to have challenges to keep me focused, wouldn’t do to make it too easy.

DD2 had to return to finish her nursing degree as she only had one placement to do to qualify when she had to go on maternity leave. It was hard for her to leave the baby and I know she would have not returned if she could have found another way, but she had to complete the course this year or start the whole 3 years again! I’ve saved most of my holidays to help with child minding and have done a few days so far with more coming up over the next 5/6 weeks. She’s already got an interview for a job for next year, but has to finish the course and graduate first. I do know she is finding it difficult as the baby doesn’t sleep through and she is up most of the night. She has chosen to do long days, mainly because between us we don’t have enough holidays to cover 12 weeks plus if she worked 5 days a week. 14 hours a day with a baby is a really long day and I know she is suffering.

The downside of DH being busy is that we haven’t had the time to decorate the bedroom yet, but I can wait as I’d rather him be out there earning the dosh. Painting can come later when work is slacker.

Mysteek

Seasidegal, I'm loving seeing all those 'gones' in your signature. That's amazing, well done! I can't wait till I can use that word.

Seasidegal58

Thanks Mysteek but you're doing so well yourself and you'll soon conquer that target November date!

Your poor DD must be exhausted but you're such a good mum helping her out with looking after the little one. I do hope she finishes her course soon and gets some more hours back in her day.