Decisions, Decisions... and a diary....

BWZN93

Ok, I was given a reward at work today and its for £200 worth of vouchers. I am in 2 (well, 4 really) minds as to what to do with them. The options are:

1) Get £200 worth of Asda vouchers and use them instead of a cash food budget for the entire of September and into October. These 'cost' 97p per pound, giving me just over £202 of vouchers. The cash food budget could then be used on other debts.

2) Get £200 worth of Next vouchers and use them to pay off some of my account which currently stands at over £600. These vouchers cost £1 per £1, meaning exactly £200

3) Get £100 of each of the above

4) Treat myself to a handbag for doing well in my interview this week (I will be getting a payrise and a new role shortly even though I didnt get the job I was interviewing for, and its a much more enjoyable role for me anyway) at a cost of £60; then the £140 for Asda vouchers and make it last the whole month (should be easy though) or £140 for the Next account.

As these were a complete (and very welcome) suprise, im not counting them in my September £10 a day challenge etc but I really dont know what I want to do with them!! Im not really limited to where I can spend the vouchers, as I have a choice of so many places! I could even be really really naughty and use them in Thomas Cook....

Please help me!! What would you do??

Jo x

BWZN93

In order to help base your decisions, ill post a brief of my current outgoings:

Next: Balance £688, APR approx 26%
Visa: Balance £930, APR approx 30%
Store Card: Balance £100, APR Approx 25%
Overdraft: Balance £1950, Pay approx £7 interest

Im currently paying as much as I can towards store card as its the smallest balance - im kind of reverse snowballing in effect. This is because I need the accounts to close soon to keep my motivation up! Im paying around £350 a month at the moment to clear my debts asap and should be debt free within a year.

Jo x

Jacks_xxx

Hiya my lovely,

We-ell... tempting as I know a new handbag is - I'm going to be thorughly sensible and plump for the ASDA option freeing up £202 to be thrown at the debt with the highest interest rate.

:T Well done honeybun, you must be a lovely person and karma is rewarding you! :T

As for the handbag... is there any way to treat yourself for less money? Or can you get the bag for less somehow??

Either way, in the grand scheme of things this is not a bad dilemma to have! And even if you do opt to get the bag you'd still be paying an unexpected extra chunk off the debts so it's win-win really!

Love Jacks xxx

Seaxwyn

I would say Next, as you can pay the £200 off straight away.

But whatever you choose, it's great news. Well done for getting the reward.

hypno06

I would say Next too - you should only do the Asda one if you are really really strict about paying off the shopping budget to the debts. With Next, it goes straight off the debt, no temptation to do otherwise!

Gemmzie

What hypno said. The Asda vouchers have a slightly higher return but only you know if you're disciplined enough to pay the shopping budget off the card.

In_Search_Of_Me

Tempting & in reality I know what I would honesty do even though I shoudnt & nor should you! Go on pay the next card or even better get a few quid more with Asda vouchers so you emotionally feel like you're shopping but in reality are not spending as you'll pay teh money from cash IMMEDIATELY wont you eh! Maybe chuck in a wee (carefully selected & thought out!)chepie handbag from Asda. Just think of the DFW reward rather than the guilt laden expensive (60 is ALOT for a bag!) handbag one!! Well done on the job though - great news in itself! Let us know what you decide!

immoral_angeluk

I thought you couldn't pay vouchers towards an account?

rog2

I would go half and half - use NEXT vouchers to 'treat' yourself and ASDA vouchers for food - don't forget that, as these will be, in effect, saving your budgeted shopping, there will be plenty of scope for the odd 'treat'.

the_missis

definately Next, sorry to say, but when the next statement comes through, you will so much happier xx

BWZN93

immoral_angeluk wrote: »

I thought you couldn't pay vouchers towards an account?

Next is pretty much one of the only accounts that can be paid using vouchers, so I often use my team bonus to get next vouchers to put on the account, but I used to spend them again so I never really benefited myself in any way!

The £60 handbag was a Radley bag that I fell in love with, its so beautiful! Its one of those across the body bags which would be really hnady as im usually buy normal handbags then end up getting annoyed with them becuase they are actually carried - not so handy now Ive bought a moped for transport!

HOWEVER, I think someone must be smiling on me, ive noticed that next is doing the exact same bag in black for just a bit under £20. That wouldnt be naughty would it?

Jo x