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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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Replies

  • Jojo180708Jojo180708 Forumite
    1 Post
    Name Dropper First Post
    MoneySaving Newbie
    @zippygeorgeandben I just wanted to say thank you for your inspiring thread, we are at the start of our journey to be debt free and I really did feel hopeless when I first started looking at everything. You and some of your frequent posters have really helped. It's not going to be easy and there will be no doubt a few curveballs thrown in along the way but we will get there.  
    Wishing you all the best in your new home  :)
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    ✭✭✭
    @Jojo180708 Hi Jojo - Thank you for the lovely words in your post.  I hope that your journey (and it isn't a race to finish it quickly) goes well.  Don't feel hopeless.  Everything in the past is irrelevant now so the best of luck to you.
    I do feel blessed having some frequent posters (they know who they are; it's important you know that people are reading) - I think starting a diary would have been great at the start; however the fact that I posted this in the 'Loans' section why back in Dec 2016 shows that I really did not understand the mistakes I was making at the time.
    If you do start a diary let me know and I'll endeavour to pop in from time to time.
    Ben
    x
    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!
    ✭✭✭
    HOLD THE PHONE! I HAVE MY DEPOSIT BACK, IN FULL!
    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
  • Humdinger1Humdinger1 Forumite
    434 Posts
    Fourth Anniversary 100 Posts Name Dropper
    ✭✭
    Groovy baby!!!  No more than your due but congrats for hanging on in there! Did they attempt to keep any back? Love Humdinger x 
  • DobbibillDobbibill Forumite, Board Guide
    4K Posts
    Seventh Anniversary 1,000 Posts Mortgage-free Glee! Name Dropper
    ✭✭✭✭
    HOLD THE PHONE! I HAVE MY DEPOSIT BACK, IN FULL!

    Brilliant news!!!! So pleased for you - well done for hanging on in there :-)
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  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    ✭✭✭
    Hi everyone,
    It seems to be a midweek update from me but I like to keep you informed.  So the good news was I got my tenancy deposit back.  It seems that the official complaint I made stirred some people higher up the chain into action.  It's amazing what a complaint can do.  If anyone is reading this who rents and then needs some advice, feel free to message me.  Also, a huge thank you to @Humdinger1 who was supportive and took time out to be my sounding board, you're the best!
    I bought quite a few new items of clothes in April.  Yes, I treated myself as shops started opening up and I felt I earned (through my weight loss and debt reduction) to buy new clothes.  I still have saved around £1000 this month though and popped this into the savings account.
    My sister visited during the May bank holiday weekend and we pretty much decimated over savings fund.  Had a great time (it's the one which says £1298.45 atm) but this will show a lot less when I do next months review!  Also still managing to pop £200 in the help to buy ISA each month too although I'm not quite sure where all my log in details are for this ISA.
    Weather is rubbish today. 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
  • Humdinger1Humdinger1 Forumite
    434 Posts
    Fourth Anniversary 100 Posts Name Dropper
    ✭✭
    @zippygeorgeandben fab to hear from you; thanks for the name check; it really is a pleasure! I'm thrilled with your outcome.  I think a bit of spending is understandable and necessary; you do have the money saved up after all for this very reason! I think we may well look back on this last year as a watershed moment; not what we wanted but a few unexpected silver linings in there.  Appreciating the moment and our relationships.  Congrats again love Humdinger x 
  • VerbatimVerbatim Forumite
    4.8K Posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    Cograts to you zippy, so glad you got your full deposit back. Humdinger offered great advice and encouragement which is what we all need when life gets tricky.
    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
    1.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    ✭✭✭
    Hi @Verbatim you are absolutely right, we do need advice every so often!
    I apologise for not providing an end of month report; it may even be the first time during the last 4 years!  I saved another £1200 in May so all really useful.  In June though I am out for a few meals and buying a complete new wardrobe.  I feel no shame in saying that I will be using some of my savings for this and I'll still be accounting for it all.  All about new me really.  I'm still loving Peloton and go on her regularly so I'm keeping the weight in a healthy range.
    I'm off for a friends birthday at the only Michelin starred restaurant in Essex on Saturday.  Please wish the credit card all the luck in the world!
    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
  • londonicelondonice Forumite
    49 Posts
    Tenth Anniversary 10 Posts Combo Breaker
    I haven't read much in the way of replies on here so apologies if this has been suggested already.
    Seeing your savings, I would definitely go in to settle the existing loans based on today's savings rates.  This will leave you with no debt and some savings, roughly £10-15k.  You'll then have the flexibility to do anything you wish without the burden of debt.
    Managing well since 2012
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