I am such an idiot! When will I learn?

judi24

December NSD 2/3

Not having a good day! After the drama with the heating last night I managed to get hot water but no heating this morning! I posted my plight on FB and a friend from work appeared at my door with a heater! I went to start the car to de ice it and it was fine - then decided to go back into the house and get a pack of mince pies for the friend that brought the heater - only to go back to the car and it wouldn't start!!!


I found the battery charger in the depths of the garage and charged the car while I was at work (had to call on the Rev to come and take me!) but car is still not right!


So got dodgy heating and a dodgy car!!! Didn't spend any money - but I have a feeling I might have to tomorrow to get these fixed!!!


Also very annoyingly Barclaycard sent me another balance transfer offer with 0% til June - but I have already done a transfer to them until May - I could have had an extra month!!! I need a transfer offer from Tesco now - as it is the card with no balance so that I could get the Nationwide balance onto 0%

judi24

Spamaronni for dinner tonight (Macaronni cheese with spam chopped up in it!) it was surprsingly good and even my very fussy 21 year old ate it!!!


Whatever gremlin was out in force yesterday seems to have gone - both car and heating seem to be working with no intervention from anyone other then me! However yesterday's experience did serve to remind me that i need an emergency fund!


No CSA yet and today should have been the second payment - so I contacted ex and asked about it using the reason that my DD3 school trip needs paying. Apparantly he has a problem wth his card reader so can't set up a DD! I kindly offered to contact CSA and ask them to change to direct payment from his wages at source and suddenly he was able to promise me cash for this week and have a DD set up by next week! But he did start questioning the amount with comment like 'how much are you asking for?' - I pointed out that the CSA had worked that out - but I know he wants me to lower the payment! It never has been my intention to make him penniless but he runs 3 cars, has 2 massive dogs and a horse and has had a cruise a few weeks ago and is planning another so I don't think he is as poor as he makes out!!!

jondavis30

To the O.P,

The easiest way to sort out and manage debt payments is to Start a Spreadsheet Monthly and calculate income, expenditure and what you have left.

Then set up new sheets, with your debts on it, and debt payment linked for the amount in the relevant category e.g. Nationwide Credit Card.

What you can then do, is play about with the numbers on the spreadsheet, and work out what the best numbers work for you.

Do away with all non-essential spending. Satelite Television ? Who really needs it ? come on, how much do you actually watch of that rubbish.

Mobile phone: buy a basic pay as you go mobile phone with a pay as you go contract, so you're not stuck on a contract for 2 years.

What is the entertainments fund for exactly ?

Have you consider switching to the Santander 123 Current account ? up to 3% cashback on all direct debits. Although there's a £24 per year fee, it pays for itself and more. Also consider switching your mortgage to them - if you get a 123 current account.

Asset wise everything is in the right place. You could consider a secured loan to consolidate your credit cards, then slowly eradicate the non essential spending.

Lots of people suggesting you take more money off your daughter and saying she can go rent if she doesn't like it. How is she meant to save for a house then ? I don't pay my parents rent, well I do, but the money I give them is going to be used to buy stuff for the house when it comes to moving out. Give your daughter the same opportunities you had.

jondavis30

judi24 wrote: »

I have been playing with my CC numbers and have done the first transfer today! so by the end of the month the situation will be:


Nationwide - £5000 at 12.9% APR
Barclaycard - £1038 at 6.9% LOB
Barclaycard - £4250 at 0% until May 2015


To get to this point I need to pay off £850 to tidyup the balances and pay off the transfer fees. After that my plan is to pay off the £4250 first with minimum payments on the Nationwide CC - hoping that by May my credit rating will be better and will be able to get another low interest card or at least get a transfer deal on either the Barclaycard or Tesco card

Why don't you pay off the 'highest interest' first, as this is at the highest cost.

i.e. you're not paying anything on the £4250 at the moment in way of interest, let the minimum payments be enough on that for now.

Start paying Nationwide as this is going to be the most expensive, because you'll be paying interest as well. Reduce the interest by reducing the balance. leave the other's at a 'minimum repayment' as long as this covers the interest and PPI if you have it.

judi24

Thanks for you replies jondavis - I woudln't want to consolodate into a secured loan for the reasons that many experince on here - i need to change my relationship with money which I feel will happen better if i pay down my debt the way I am rather than taking more and being tempted to spend on CC's again (I have done this in past many years ago and i'm still in debt!) as for changing my mortgage - I will look into this when my CC debt has gone as the thing that prompted my LBM this time was being turned down for a remortgage!


I used to bank with Santander but I found them really difficult to deal with so i won't go back to them - I am happy with smile and nationwide although the interest sounds tempting.


Since my original SOA I have reduced TV package (not quite gone but getting there)


In realtion to my DD2 - I have increased her contribution to £200 but that leaves her with around £800 to play with. If she chooses to save towards a house that would be great and she has a saving fund from her gran- but at the moment she is paying for driving lessons and saving for a car. When she is ready to move out I will do my best to help her. But no one helped me when i moved out from my family home at all - I made my own oppertunities!


My plan for the CC's is to do what you had suggested- To pay off the Nationwide CC while the Barclaycard is on 0% then tackle the Barclaycard if I haven't managed to get a 0% transfer

Butti

Judi,

Given that you have paid off nearly 19% of your debt in four months I am interested in when you are going to change the title of your diary and stop calling yourself an idiot.
It's annoying me!

judi24

Hi Butti - 2 reasons - I don't know how to change a title and no idea what else to call it!!!:D


Answers on a post card please!


Have I really paid off 19% of debt in 4 months? Thats amazing! :T

beanielou

Yes, agree wth Butti~name change would be good.

Have a good day

judi24

Thanks Beanilou - you have a good day too!


I am supposed to be writing and assignment! But being on here is so much more interesting!

Kantankrus_Mare

The not such an idiot's debt free journey? (New title)

You are doing brilliant but the key to success is to keep going till its all gone.

You will get there Im sure