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What is my best choice? Tax rebate money
zenshi
Posts: 1,142 Forumite
I have found out today that I'm due a small tax rebate and am now wondering what the best option is!
It is only small, less than £200 but I have 3 options in my head!
1...request an F and F for my littlest CC which would equate to a 40% pay off
2... Put it towards getting my woodburner fitted. I have saved some for this already
3.... Keep it as a buffer
It is only small, less than £200 but I have 3 options in my head!
1...request an F and F for my littlest CC which would equate to a 40% pay off
2... Put it towards getting my woodburner fitted. I have saved some for this already
3.... Keep it as a buffer
LBM.....sometime in 2013 £27,056. 10 creditors
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
June 20.....£7,587.....3 creditors left 72% paid
£26,200 on interest only part of mortgage (July 16)...will chip away £17,103
£49,200 repayment mortgage ( July 16) £37,764
0
Comments
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Just realised this got no replies when you posted.
If you have debts, as nice as a woodburner would be, it's a luxury too far at the moment I'd suggest. Put your savings for that into an emergency fund, add to that emergency fund until it hits £1,000. Stash it somewhere and DON'T SPEND IT! If you already have an emergency fund then put your tax rebate to your debts. The sooner they are gone, the sooner the luxuries can flow!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0
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