Cailbhinn's debt journey!

Maximum_Saving

Hello. I think that a financial company offering credit at a rate of 535.3% is disgusting. They are coming onto customers that already have much debt. I would be easy for someone to take up that awful deal and go downing into amazingly big debt. Well done for showing people this credit interest rate. Good luck paying off your debt.

Smodlet

See, that, right there, is the part I just don't understand. Who signs up for a loan without knowing the APR in advance and who would accept that exorbitant rate? I understand some people are truly desperate but, had we been unable to get civilised funding for our new boiler, I would have frozen rather than pay that rate.

We are far from well-off, we barely scrape by but we do because, if we cannot afford something, we do without it until we can or, in a dire emergency such as the boiler dying, we are able to get credit at a reasonable rate because we manage on the little we have. Sometimes it means eating really cheaply, never buying one new item of clothing until two have literally fallen to bits. Must be a generational thing. The art of going without is a dying one, imho.

I am not recommending this lifestyle to anyone who has a choice in the matter, there are times when it sucks beyond the telling of it; we find these choices worthwhile if it means we do not have to be cold and dirty. So what if we can't go on holiday? I'd rather be comfortable and able to manage my debt... And to get credit at 0%. It really is a choice, if a hard one, sometimes.

I promise, no more ranting.

Bobarella

Just caught up on your diary. All told sounds like you are doing a great job.

Cailbhinn

Smodlet wrote: »

I promise, no more ranting.

I like your rants! Keep them coming!

Cailbhinn

Bobarella wrote: »

Just caught up on your diary. All told sounds like you are doing a great job.

Aw thanks very much Bob. It's much appreciated taking your time to read and comment. I'm enjoying writing my journey down. I appreciate I'm not in desperation mode as some of my fellow DFWs are but we're all aiming for one thing so the support is welcome.

It's weird since I turned 30 I have been evaluating my life and of course debt was part of that but also other things such as work, friendships, family, relationships etc. I can seem aloof without intending to be. Hopefully the debt clearance will allow me to enjoy other parts of life too. Not in a money to spend way but in a getting rid of that dark cloud way. Who knows...

Smodlet

You certainly don't come across as aloof on here, Cailbhinn... what's a loof, anyway?

"Be alert; Britain needs lerts" - another poster's signature; wish I could remember whose.

amaranthus

Cailbhinn wrote: »

I appreciate I'm not in desperation mode as some of my fellow DFWs are...

I know what you mean, Cailbhinn; I've never missed a payment, and although there've been really tight months, I've never sunk into desperation. But that debt has always been a weight on my shoulders, and I finally got myself in a position where I can tackle it properly.

Cailbhinn

Wee bit bored today - rain curtailed my grass cutting and car washing day. So I applied for a 0% balance transfer card to try shift some of the debt from the low interest (6.5%) card it is currently sitting. Thanks to the MSE eligibility calculator, I have been approved! :T Credit limit of £3,200 which isn't too shabby either. Transfer fee is about three months interest so that's good. Debt will slightly increase as a headline figure but will be paying off more each month.

Today wasn't a NSD - my turn to buy the toilet roll and soap powder. Also got some juice and bananas so £10.62. Also put £19.11 worth of petrol in the motor. A weird amount you say? Well used my YNAB and that's what I had left in fuel budget. I'm a master of the fuel nozzle! Should last me til next month.

Cailbhinn

amaranthus wrote: »

But that debt has always been a weight on my shoulders

Perfect description amaranthus!

amaranthus

Cailbhinn wrote: »

Also put £19.11 worth of petrol in the motor. A weird amount you say?

I have two obsessions when it comes to petrol - I can't partially fill a tank, it always has to be full, and it always has to be a round pound amount (£36.00, £37.00, etc). Those last few pennies are millimetre pressure on the nozzle, and if I go over, I have to go to the next pound up. I'm odd like that Also, I log everything on fuelly.com so I can see what I've spent and what my MPG looks like.