Feel so alone

rolls99

Swash wrote: »

I have a tesco cc and have paid my bill earlier than the DD date, but it still takes the DD out regardless. However, my DD is at a set amount, not the minimum payment, so I don't know if this makes a difference

Thanks Swash: Popstess, it seems then that you'll always pay at least the minimum payment. (assuming no spending on the card)


As far as I'm aware, (unless with Tesco you can actually change the date) any DD payments "Should" be taken about the due date, not too long before (Can you confirm this Swash?).


As for minimum versus fixed payment, assuming you are paying the minimum this month, I would suggest changing it for next month to "Fixed" and use this month's minimum payment as the amount which means you'll always then be paying more than the minimum and less interest (and you know exactly how much is going out).


In between this, you can pay whatever extra you like manually on top, and for the moment that'll be the best way to lower the interest you do pay.

Popstess

rolls99 wrote: »

If I am understanding how you are working paying the Tesco, you've just got November's statement now (7th) an will pay it by DD on about the 15th - when you get your November pay.


I am not sure how the DD works with Tesco, but, normally if you have selected "Pay minimum" then the CC will collect the DD in time for the Due date (they want you to have a higher balance, and they get the interest).


So, "Normally" I would expect, a statement on the 7th, due to be paid on the 27th to only collect that payment from your account around about the 27th.


With some cards, if you pay manually BEFORE the due date (but, after the statement date) - in your case at any time between the 7th and the 27th, then this changes what the card will take for your DD.


For instance, if the minimum payment was £100 and you paid £10 before the 27th the CC will only take £90 - meaning you've still paid the minimum for that month. If you pay the £100 (or more) your DD would NOT be taken that month, because you've "Overridden" it by paying manually, earlier than the due date.


BUT - some cards DON'T do this and will STILL take the DD irrespective of whatever payments you make - and I cannot honestly tell you how Tesco work this.


The simplest method would be, if Tesco didn't take the DD as described above, you simply pay manually earlier (between the 7th and 15th) - saving a little interest.


What I am not sure of, however is how your DD is being paid on the 15th or whatever since I don't think many cards will take payment two weeks or so before the actual due date?


If Tesco do, you are able to change this to say the 9th or 10th of the month, then as long as you have the funds, do so.


Effectively it means that you "Need" to find an "extra" payment out of one month's salary (before the 15th) but once you've done that then that's it, all other payments are still equally spaced apart.


In the meantime (probably until someone with more knowledge of the Tesco card comes along, or someone able to give clearer advice than my ramblings(!)), please be VERY careful about changing DDs or whatever to be on the safe side!


What I would suggest also is, (if you have not already), set the Tesco to a "fixed" payment. Whatever this, or last months minimum payment was, rather than have Tesco collect "minimum", pay the same each month.


Since your 0% cards are (and should be) being paid at the minimum, these payments will drop each month, so - if this month's payment is £100 to the 0% cards, and £95 next month, put that extra fiver away either into your savings pot or - preferably as an extra fiver to Tesco.


The key point is even if you do nothing with the DD with Tesco, interest is calculated on your average daily balance over the month, so it always pays you to have this as low as you can for as long as you can within the month; even if it means paying the odd extra tenner randomly above the DD, it still makes a difference - however you do it, you'll pay less interest.

Swash wrote: »

I have a tesco cc and have paid my bill earlier than the DD date, but it still takes the DD out regardless. However, my DD is at a set amount, not the minimum payment, so I don't know if this makes a difference

rolls99 wrote: »

Thanks Swash: Popstess, it seems then that you'll always pay at least the minimum payment. (assuming no spending on the card)


As far as I'm aware, (unless with Tesco you can actually change the date) any DD payments "Should" be taken about the due date, not too long before (Can you confirm this Swash?).


As for minimum versus fixed payment, assuming you are paying the minimum this month, I would suggest changing it for next month to "Fixed" and use this month's minimum payment as the amount which means you'll always then be paying more than the minimum and less interest (and you know exactly how much is going out).


In between this, you can pay whatever extra you like manually on top, and for the moment that'll be the best way to lower the interest you do pay.

Thank you both for the help I will have a look at my statements and account and work out what to do for the best. I wont be paying anything extra towrds my Tesco CC at the moment as I have £1000.00 on BNPL Very to pay off first as the interest on them when the )% runs out will be huge. So thats my priority for now.

Thank you

rolls99

Popstess wrote: »

Thank you both for the help I will have a look at my statements and account and work out what to do for the best. I wont be paying anything extra towrds my Tesco CC at the moment as I have £1000.00 on BNPL Very to pay off first as the interest on them when the )% runs out will be huge. So thats my priority for now.

Thank you

Good stuff Popstess; although - IF you can, I would still say change the Tesco to "Fixed"; that means you won't be paying more than you already are, but more than the minimum (unless you really need to use the reduced amount)

Popstess

Hi everyone :hello:
I am on countdown to payday!!!!
My official pay date is 15th of the month but I'm likely to be paid on Friday.
My current account will be 0 not minus for the first time in soooooooooo long. So this feels like a completely fresh start. I know EXACTLY how much money will go out as direct debits and standing orders for bills and savings. And I know EXACTLY how much is left over for "spending" money. My food /toiletries / cleaning products shopping, my petrol and my son's school snack money and mobile top up will all come out of my spending money.
I am using the spending tracker app I really love it I upgraded to the full version for a couple of quid and it was absolutely worth it.
I input how much my spending money is as a income. Set the regular outgoings that will come out of my spending account that I know the cost of e.g. My sons mobile monthly top up, my lottery syndicate at work (i know I know this is a cost that I should cancel but I cancelled my personal lottery ticket each week but I don't want to cancel my work syndicate in case it wins lol silly I know)
Then every other cost that has the ability to be variable e.g shopping, petrol, sons snack money for school and socialising costs I will enter as and when they happen. That way I will always know at any given moment EXACTLY how much is in my spending account and EXACTLY how much I can spend depending on what date in the month it is meaning I can't ever go over drawn "accidentally"
I think it's going to be really TOUGH because I won't be able to pretend I don't know how much is available and spend like I have for ages.

In other news I have signed up to a few survey sites but not having much luck a lot send emails saying we have a new survey but I answer a few questions then it says sorry we have reached the quota for the amount of people to complete this survey.
Boo!

I am also fascinated by match betting I have read up loads about it, not tried it yet I'm still a bit apprehensive.

Other than that I'm struggling to bring in any extra income, I'm planning to start looking for a better paid job after Christmas. It will be a HUGE change for me and a massive step so I'm not taking it lightly but it is something I want to do.

Oh another note to add, did my weekly meal plan shop and met my budget I've kinda set myself of £50...OK little lie there I actually went slightly over £50.59 but I'm still pleased with that. I was spending about £380 :shocked: a month on shopping so my goal st the moment is to stick to £50-£70 a week instead.

Christmas is looming and the urge to overspend is tingling at the back of my head but I must resist! I am determined not to put any expense on bnpl catalogue or credit cards this year.

Worried-mum

Hi popstess!
I have just caught up reading your thread, and wow! Well done on coming this far so soon!
I have just been granted a DRO, so I am technically in a year debt free from debts i'd racked up of £15k.
I feel really stupid I let it get to that point, and i'm so impressed you are managing to deal with all this yourself!
I too have had to give myself strict budgets so I don't end up back in the same cycle of spending what I don't have
It's hard but I know it's a lifestyle complete change not a "quick fix" and these boards have been invaluable.
Christmas is going to be hard for me too with two kids and a budget, but we can do it!
Best wishes for you in the future

Popstess

Worried-mum wrote: »

Hi popstess!
I have just caught up reading your thread, and wow! Well done on coming this far so soon!
I have just been granted a DRO, so I am technically in a year debt free from debts i'd racked up of £15k.
I feel really stupid I let it get to that point, and i'm so impressed you are managing to deal with all this yourself!
I too have had to give myself strict budgets so I don't end up back in the same cycle of spending what I don't have
It's hard but I know it's a lifestyle complete change not a "quick fix" and these boards have been invaluable.
Christmas is going to be hard for me too with two kids and a budget, but we can do it!
Best wishes for you in the future

Hi Worried mum :hello:

Thanks so much for the support and your kind words I can't tell you how many sleepless nights and tears I've shed over this debt. I'm so ashamed and so angry at myself I've got myself into this position. I'm heart broken. I should be able to provide a decent life for my son yet all I seem to be doing is stressing over how I'm going to meet these payments!

But I will get there and I'll NEVER EVER go back to this situation ever again. It's a shame it took me to rack up £27000 in debt before I came to this realisation!!!! :mad: couldn't I have realised around £5000!

I think Christmas is a difficult time of year if you have money worries. I know people say just don't have Christmas if you're that worried about money but I couldn't. So far I've completely sheltered my son from my debt (he shouldn't be thinking about these things) it's my problem. All he knows is that we need a new car so we're being more careful with money and that's all he needs to know.

12_month_challenge

Hi Pops and hope you're ok

I have had a few dodgy feelings this weekend also.

Keep going and try to stay positive.

I also need to take my own advice.

Isn't it hard when you have good days and bad. BUT we must carry on chipping away at it all.
Remember there is a slot waiting for us on the Debt free and proud board. :T
x

Popstess

12_month_challenge wrote: »

Hi Pops and hope you're ok

I have had a few dodgy feelings this weekend also.

Keep going and try to stay positive.

I also need to take my own advice.

Isn't it hard when you have good days and bad. BUT we must carry on chipping away at it all.
Remember there is a slot waiting for us on the Debt free and proud board. :T
x

Hi 12 month :hello:
Sorry to hear you're feeling a bit glum. It's really tough to stay positive but you are right we will get there we will be debt free I can't wait!!!!!!!! :j

rolls99

Popstess wrote: »

Hi Worried mum :hello:

Thanks so much for the support and your kind words I can't tell you how many sleepless nights and tears I've shed over this debt. I'm so ashamed and so angry at myself I've got myself into this position. I'm heart broken. I should be able to provide a decent life for my son yet all I seem to be doing is stressing over how I'm going to meet these payments!

But I will get there and I'll NEVER EVER go back to this situation ever again. It's a shame it took me to rack up £27000 in debt before I came to this realisation!!!! :mad: couldn't I have realised around £5000!

I think Christmas is a difficult time of year if you have money worries. I know people say just don't have Christmas if you're that worried about money but I couldn't. So far I've completely sheltered my son from my debt (he shouldn't be thinking about these things) it's my problem. All he knows is that we need a new car so we're being more careful with money and that's all he needs to know.

Popstess; kids/sons/daughters will always be thankful for their mum, you son will be no exception.


You know, as others say, part of being a DFW (and sticking to it) means not simply being "totally non spending", in fact it might lead to temptation in and of itself.


Whatever you spend on Christmas, and in particular on your son here's the thing.


You are now watching what you're spending, and, hey - if you "Splurge" just a little on your son, so what? Christmas and birthday?


I'm not, of course suggesting to go wild here , but, I think you would agree if you look back to last year (from what you've already said), you are already in a far better position, and even with "all things being equal" - that's already an achievement - so amongst the debt busting, remember to enjoy things a little too.


The main thing with budgeting is going in "Eyes open" (spending or saving) - A person might be an aspiring DFW with the best of intentions, and although they do everything in their power to be, including being prepared and 'planned', might still have some setbacks - but - the person who isn't prepared and doesn't plan is almost certainly not going to be the DFW they want to.


I say you're well planned, and prepared; very little that's worthwhile was ever "Built in a day", and you will get there

rolls99

12_month_challenge wrote: »

Hi Pops and hope you're ok

I have had a few dodgy feelings this weekend also.

Keep going and try to stay positive.

I also need to take my own advice.

Isn't it hard when you have good days and bad. BUT we must carry on chipping away at it all.
Remember there is a slot waiting for us on the Debt free and proud board. :T
x

Just try and recall what things were like before you embarked on DFW; I don't think you could argue that as with Popstess, you've actually achieved something here even if the roads a bit bumpy at times!

Chin up!