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Unsure whether to consolidate - please advise

edited 30 November -1 at 1:00AM in Loans
291 replies 110.2K views
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  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
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    Hey Verbatim, how goes it?
    I literally have no idea either. 
    Savings as of May 2021
    Savings account 1 - £27440.98(26431.16)
    Current account - £5174.78(4952.66)
    Total - £32615.76 (31383.82)
    Plus £728.45 (£65 per month between CS/BS) HTB £2800
  • DobbibillDobbibill Forumite, Board Guide
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    Verbatim said:
    Hi Zippy,
    What is the "Announcement" in pink concerning your thread? It isn't a link and I'm stumped. It appears on my bookmarks page.
    I think it's because on the 'old format' forum this thread was pinned to the top of the loans section to support others in a similar situation s when it started.
    Now that we have merged over to the 'new format' forum, it appears as an 'announcement' on the bookmark ;)

    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to [email protected]. Any views are mine and not the official line of MoneySavingExpert.com.

    It's not about being the best -
    It's about being better than you were yesterday.
  • VerbatimVerbatim Forumite
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    Thanks Dobbibill.
    Hi ya Zippy.  I'm well thanks. I'll look forward to your next update!
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
  • zippygeorgeandbenzippygeorgeandben Forumite
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    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
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    Hey hey Verbatim - lots going on here and will update at the end of the month.  Finally going to use my savings for a new laptop though which arrived a few weeks ago so definitely no saving this month :)
    Savings as of May 2021
    Savings account 1 - £27440.98(26431.16)
    Current account - £5174.78(4952.66)
    Total - £32615.76 (31383.82)
    Plus £728.45 (£65 per month between CS/BS) HTB £2800
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
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    Hello everyone,
    How are we all doing? Thanks for clicking on my thread.  Apologies to all of you who do click on regularly but I have had a lot going on really.  My partner and I are separating and he has moved out.  Now, this leaves me suddenly paying a lot of rent by myself, and of course taking on all the bills.  I have budgeted for the year though and I am hopeful (bar emergencies) that I have enough to cover bills but savings may have to take a backseat unfortunately.  I have decided to purchase a Peloton bike though.  An expensive purchase, but hopefully one that I will use and enjoy and I will use my savings for this.
    The tenancy runs out in July and it isn't feasible that I stay here on my own (nor do I particularly want to either).
    Would be great to hear questions or opinions from you all, just in general; so I can be a bit more lively on this thread!
    Thanks for reading.
    Savings as of May 2021
    Savings account 1 - £27440.98(26431.16)
    Current account - £5174.78(4952.66)
    Total - £32615.76 (31383.82)
    Plus £728.45 (£65 per month between CS/BS) HTB £2800
  • jonesMUFCforeverjonesMUFCforever Forumite
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    You may not like what I have to say - but in your circumstances paying whatever thousands on a bike (and monthly bills for the internet side of it) is madness. If you have to move within the next 12 months you may need all the money you have saved for moving expenses, deposit etc etc.
    If you have a lot of savings then of course you can ignore my post.
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    ✭✭✭
    Hey Jones, I have a few savings I have built up over time and I won't be moving until Summer next year.  It is an expensive purchase I agree but I have saved so much money so far that this is something that I really want to purchase.  i appreciate you looking out for me though. :)
    Savings as of May 2021
    Savings account 1 - £27440.98(26431.16)
    Current account - £5174.78(4952.66)
    Total - £32615.76 (31383.82)
    Plus £728.45 (£65 per month between CS/BS) HTB £2800
  • DobbibillDobbibill Forumite, Board Guide
    4K posts
    Seventh Anniversary 1,000 Posts Mortgage-free Glee! Name Dropper
    ✭✭✭✭
    You've been saving for a long time zippy, and this purchase is expensive but if you are going to use it all then time then a good investment.
    I notice you said the lease expires on your home next year - when you move will this be to a rental or buying a property? I think I remember reading you would love to buy but it is expensive there. Make sure you budget well in advance for that - it's not cheap to move.
    You've done so well since starting this thread, planning ahead is key so you don't get caught out ;)
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to [email protected]. Any views are mine and not the official line of MoneySavingExpert.com.

    It's not about being the best -
    It's about being better than you were yesterday.
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    ✭✭✭
    Hi Dobbibill - yes you're right I have been saving for a long time and all advice taken on board.  The tenancy agreement finishes at the end of July and when I move it is probably going to be in with family.  My rent/bills will dramatically reduce and I would save so much money but of course, budgeting is important.  I need to see what the next three months bring with my finances and whether I break even.
    Savings as of May 2021
    Savings account 1 - £27440.98(26431.16)
    Current account - £5174.78(4952.66)
    Total - £32615.76 (31383.82)
    Plus £728.45 (£65 per month between CS/BS) HTB £2800
  • VerbatimVerbatim Forumite
    4.8K posts
    Part of the Furniture 1,000 Posts
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    Hi Zippy,
    Sorry to hear your relationship has ended. Do you have a spare room? Could you ask a friend or someone else to share?
    Don't know the type of bike mentioned, is it electric? Could you get a second hand one or rent one to try it out first if it's expensive? Or get a bike on freecycle and use the money towards a flat deposit? Best of luck anyway.
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
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