I'm Back - and better! Final Push to Go...

zippygeorgeandben

Hi C.M - not butting in at all! Thanks for that information. They were telling me all about amortisation on the phone when I rang last week. Do you think it's a blanket non reduction of the term for anyone who borrows with Zopa then?
Yes I think I will do what you are suggesting. That way i'll still clear it early but won't recoup as much interest.
Appreciate you taking the time to respond.

C.M.

Yeah it seemed to be a blanket policy when I spoke to them - but maybe it's changed since this time last year....you could always try another call just to check, and if it's still the same then just keep bumping up your over payments each month.

Best of luck

zippygeorgeandben

Thanks once again

Exerbusi2

I did something quite abnormal for me today... I spent money on clothes!

I had a bit of birthday money (around £150) and a pretty desperate need for new clothes, so my girlfriend and I took a trip out to pick up some bits. It was a success - 3 new shirts, 2 new pairs of jeans and a pair of trainers to replace ones I left in the gym on Friday!

I spent around £250 today, but that's the last money I'll spend on clothes for a little while (although I probably need a new suit for a family wedding).

I took up Olympic Weightlifting about 18 months ago and now a lot of my clothes don't fit me properly, hence the need to shop!

I also had my tax payment code through from my accountant, so I need to get that paid this month. There's good and bad in this....

The good = I will have paid my tax bill.
The bad = I will have removed my cash buffer.

I think my intention is to pay all but £1000 of it, which I will then pay when I am paid from my project. It will also mean I will then be able to pay some more money into my savings account, topping up my saving for next years' tax bill.

I will re-assess my CC repayment plan when I've been paid all of the money I owe, so I know exactly where the land lies. I like to have a few thousand pounds in cash around (it's necessary when I have an annual tax bill), so the money I will be paid may be split £2,000 back into savings, £1,500 on the credit card.

In reality, until this money is paid back then my figures are purely speculative.

A strange thing has happened to my psyche though - I feel guilty and perhaps a little exposed when I spend money, which is probably down to my wanting to keep everything neat and tidy financially. I'm sure I'll feel better when I can see over £1000 in cash available to me.

Finally, I forgot about the £300 my girlfriend owes me towards our family holiday, which will take care of a good chunk of the CC repayments for the next month or two!

Exerbusi2

Nice bonus - my CC payment had gone through and knocked my balance down to £4,470!

I made a payment but because it hadn't come straight off the balance, think I forgot so made a second payment. I now realise the reason it didn't come straight off the balance was because it was made on Friday and so the weekend was the delay!

I'll have to check back tomorrow to see if I had made a payment the day later. I made end up with a surprise CC balance reduction!

zippygeorgeandben

Hi Exerbusi2,
Well an insightful post from you there! I'm not quite sure I can visualise you now, without thinking of Popeye. It's the Olympic Weightlifting you just threw into the post which made me chuckle! Have you got bulging biceps then! I'll have to see a picture of you sometime!
To get to the point in question, the guilt about spending. I've commented on this either in our thread, or in another one. I'm trying to save £££s everywhere and I think it's making me resent spending, which is silly as I do have disposable income (like you) but we are both trying to pay our debts off as quick as possible.
Was your tax bill what you expected? Obviously not being self employed I don't know if the figure you get is what you expected but it's good that you can get it paid.
Yes re-assess your CC plan when things sort them self out in the wash. I'm a bit like that too really although I'm wanting to make some payments which come out of my budget for this month, not going into April. When I go to Manchester before flying to Egypt, my sister has already suggested we go out for dinner before we fly. I'm saying no as it's £75 I'll spend which I wouldn't do if I wasn't going on holiday with them. If that makes sense?!
Reading about what your girlfriend owes you, I worked out what my OH owes me yesterday. It's over £500. I know he cannot really afford to pay that. I might just ask him to pay me stuff for this year which adds up to £150 and just forego the rest. Other stuff was hotel rooms/meals out in Summer last year. Things you do for love I guess.
A conversation we should have sometime is about how you work finances out with your OH, but that's a conversation for another day!
Anyway, Broadchurch is on soon so enjoy the rest of the evening, and the week!

Exerbusi2

Popeye?! Not sure about that. I've lifted weights for 15 years in various forms, so I have the sort of shape that comes with that I suppose!

The spending thing is odd. I earn far more than I used to (around £45,000 - £50,000), but my outgoings are higher. I have a mortgage, I have the CC, business expenses etc. These take their chunks out of the income. That being said, I do have disposable cash and we live a nice life.

The tax bill was what I expected. I invested money into the business which allowed me to reduce the tax bill significantly. I had saved money throughout the year for the tax man however.

I think you've been wise saying no to the dinner. Those £75's add up over time. This weekend we went out as a family for lunch which cost £50, but it's the last time we'll do that for a little while. Maybe when I come back from my work trip!

As for the couples finances, yeah that's a conversation to have!

Enjoy Broadchurch...

zippygeorgeandben

I forgot to say I've got about £400 due out over the next couple of weeks. Deposits for various events I have to pay for up front, and then get the money in dribs and drabs!

Exerbusi2

My DD payment for my credit card came out yesterday, so that has been paid. I'm also a little confused - I thought I paid extra off yesterday too, but maybe I didn't!

I'll have to check the bank as I thought I'd paid off another £70, but maybe not!

It takes 3 working days to be credited to the account, so I'll check back on Friday/Monday and see what has been paid!

Exerbusi2

So it turns out I did make a payment yesterday, so by Monday I should be clearer as to my remaining balance on the CC.

I think it will be around £4,350, give or take a few pounds and pennies. I'll leave it at that in terms of repayments this month I think, unless of course I come into money I didn't expect to!

I also signed up to Experian this morning, just to see what my credit score is. Turns out I'm currently at 960, so I'm pretty satisfied with that - not that I need it right now, I'm not after any more credit! I'd be interested in charting it over the months as my CC debt comes down.