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Credit Card Execution 2015

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Comments

  • janeypoo
    janeypoo Posts: 62 Forumite
    Hiya, I do completely agree, and have cancelled my account this morning. Don't want to get complacent and have quit ahead.

    The marathon was amazing, if a little frustrating. I promised myself "never again".... but I feel the urge coming on to sign up for another! Eek!

    Paid myself my expenses today, and have set up two banking meetings on Friday afternoon to try and discuss better options for me.

    xx
  • janeypoo
    janeypoo Posts: 62 Forumite
    It's been ages, again!

    I've been steadily chipping away at the debt, including £2000 to my husband to clear his.

    I've had a 0% balance transfer offer back to CC2, so took that one and am paying it off in monthly payments like it's a loan.

    I'm not sure about this though. I'm tempted to make minimum repayments on CC2 and focus more money on getting CC1 down as much as possible, and thus reducing the interest. Last month, before the balance transfer interest was about £125 on it..... any thoughts?

    In other news, my little boy starts school next month so I've just paid the final preschool monthly fee, so that's about £900 that will be freed up. Some of this will go to paying for breakfast club but I will be able to hit about and extra £4000 off debt before the end of the year, on top of normal payments I've been making. I really think I should be able to clear all CC debt by this time.

    Childcare is a tricky thing it seems. I'm a contractor so earn hourly, whereas my husband is salaried. His company are happy for him to come in 10 minutes late every day after dropping the boy off, and my core hours are moving forward an hour so I can pick him up at the end of the day.

    How do you manage if you have kids and both work?

    xx
  • DebtFree2012
    DebtFree2012 Posts: 3,573 Forumite
    I applied for flexible working so 4 of 5 days I drop off and collect (breakfast club at 8, end of school day at 3:15) then work 5 hours extra over the evenings (total) to make my hours up.

    What's the costs for doing the CC either way - go for the cheapest and highest reduction?
    Debt - CCV £3792
    CCB £1383 (took a hit for a holiday)

    Loan 1 £1787
    Loan 2 £1683
    Total £8601 Was £39302
  • janeypoo
    janeypoo Posts: 62 Forumite
    I think topping up hours is a good idea actually, even adding two on a Saturday morning may be an option. I'll look into it.

    I've worked out the cost of the debt and will make minimum repayments on CC2 until Dec, when I will divide the remainder by two and pay that off in two chunks before January BT end date.

    CC3 BT 0% rate ends in Septembet (20th) so that has to be gone by then, and all other focus will then be on CC1.....

    Lost motivation for a while but excited to get smaller numbers on the board :)

    Yay less than 20k on the car!
  • janeypoo
    janeypoo Posts: 62 Forumite
    CC execution is going to be tight before end of the year.... need to try and shift ~£1660 per month if I get no more balance transfers based on current figures. That means about £2100 a month to debt.

    This should be doable from middle of September onwards if I'm super tight :)
  • janeypoo
    janeypoo Posts: 62 Forumite
    So it was payday today and I've made the initial payments on everything.

    Cleare more from CC1 on to 0% BT for another 6 months, which causes a wee smile :)

    Less than £8000 on credit cards!

    I've just reaslised, based on my signature, it looks like CC2 and CC3 have seen practically no movement, but in that time they have both been down to £0 and then a balance transfer back on.

    I'm ok with progress so far, but big plans afoot for wiping all debt by end of 2016!
  • A little bit of good news today. Applied for a 0% balance transfer card of a higher limit for 24 months (my current BT cards are running out soon) and was accepted with a limit of £10k!

    This means I can put all debt on that card and know I'm not paying any interest on it and pay it off even quick. Clear by Christmas of CC debt!
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