Best ways of saving

autumn2012_2

Hi,

Im looking for advice on best way of saving money to pay off my CC at the end of the month. Im self employed so I get paid cash majority of the time but I find Im just kinda spending it. Need to get out of this debt so need to make sure the money is going towards the debt.

TheBanker

Why don't you make smaller payments as and when you have the cash rather than trying to save it at all?

sourcrates

Well you could ask the credit card company if they would help you out by suspending interest for a period of time, most will do this for a six month period, if asked, due to your financial circumstances.

Of course that may involve "AP" (arrangement to pay) markers on your credit file, if this doesn't bother you, go ahead and ask.

[Deleted User]

Good idea - you don't have to wait for the CC statement.

autumn2012_2

Its getting to the bank - its too much of a hassle going all the way into town. They closed our little bank down the end so I normally leave it in my purse but I tend to spend it on groceries etc. I only go into town maybe once a month

enthusiasticsaver

Don't leave the cash in your purse when you receive it. I always used to just take enough out to buy just what I needed each day - fares to work, money for groceries on two /three days out of seven and an emergency fiver (probably tenner now). Keep it at home somewhere safe and pay it in at bank when you go there.

curiousralphy

Have you got trusted friends or family nearby? Trade them your cash for their bank transfer. When they need to take out £100 from the ATM they could take it from you instead and in return transfer £100 from their bank account to yours. This way you will have money put into your account without having to go the branch in person.

TheBanker

autumn2012 wrote: »

Its getting to the bank - its too much of a hassle going all the way into town. They closed our little bank down the end so I normally leave it in my purse but I tend to spend it on groceries etc. I only go into town maybe once a month

Who do you bank with and who is the Credit Card with? Could you pay into your bank account at the post office, then when the money is in your account (can take up to 2 days depending on the bank), pay the credit card online.

You do need to be careful to make sure that your little payments add up to at least the minimum to avoid fees though.

I don't know what your work is but is it possible to ask customers to pay by bank transfer or paypal? I guess this complicates your admin as you have to check they've paid, but I think as a customer I would prefer this as a rarely carry much cash these days.

katy_ann

Could you pay the credit card online? I used to make small payments multiple times a month when I had extra money and used to make the payments online

On_my_way

Register for online banking. Then you can send £1 per day online if that suits you or hopefully more but you don't need to attend a bank to do it.