Small Steps Out Of Massive Debt!

GeorgianaCavendish

EssexHebridean said:

Statement amount. "pay off in full" is the amount that they tell you is owing when the statement is issued, usually less anything that has been credited in the period between the statement and the DD date. (and that last bit can be really annoying when you've bought something, only to then return it - as sometimes the refund "leapfrogs" the original cost. one to look out for).

Thank you! That makes sense I was discussing my way of handling my credit card with my husband, my way is to have a DD for the minimum payment but to reconcile my spending every payday and make a debit card payment for the rest of the balance so I go back to zero at the beginning of "my" month (not necessarily the beginning of the statement month).
He thinks that I'm creating unnecessary work for myself and I should just have a DD to take the full amount, but I like my way of doing it better Especially as you say, refunds can mess things up with the "pay off in full" option. 
And I like to know that I've cleared the slate every time my monthly budget resets  

GeorgianaCavendish

I tried explaining my method of transferring money to my Monzo 'Credit Card' pot during the month as well, so that I know I've got the cc spends covered, but I could see his eyes glazing over  

EssexHebridean

Ahh that moment when you're well into your explanation, full of enthusiasm for something that you KNOW works, and you suddenly realise they're not grasping it in the least....yes - been there! 

We have the DD for the card we use for routine spending set to clear in full, but because things need to come from various pots I do the money shuffle to clear it when the statement lands - the "pay in full" options deals with any rubbish maths on my part though, just in case! 

GeorgianaCavendish

Haha, exactly! I think I'm giving a clear and reasonable explanation and half way through realise that I sound like I've joined a cult  

WinterWarrior

i love reading everyone’s methods. I don’t trust myself at all so do a transaction out, payment in method…even if my payment sometimes lands in the balance before the debit, so I look like I’m in credit. The only downside is if you need a refund for anything…I am currently using a refund balance for new purchases as I had already paid for the item before sending it back as faulty. Everything seems to have an upside and a downside! 

GeorgianaCavendish

WinterWarrior said:

i love reading everyone’s methods. I don’t trust myself at all so do a transaction out, payment in method…even if my payment sometimes lands in the balance before the debit, so I look like I’m in credit. The only downside is if you need a refund for anything…I am currently using a refund balance for new purchases as I had already paid for the item before sending it back as faulty. Everything seems to have an upside and a downside! 

I like seeing everyone's methods too I do pretty much the same as you, except I put the money in a Monzo pot and pay it off the credit card once a month - because if I ever buy clothes online I tend to order several size or colour variations and then send most of them back

GeorgianaCavendish

After a bit of a dry spell there are suddenly loads of surveys for me on Prolific! Also working towards another £10 Amazon voucher on Ipsos and chipping away at the receipt apps and YouGov surveys. 

I'm going to visit family this weekend so need to make sure the presents are wrapped and I remember to take the cards with me! I've finished my Christmas shopping now, and done a sneaky return and reorder of one of the gifts I bought in early November as it was reduced by 20% in the Black Friday sale. But this is basically the only thing from my list that was reduced in the Black Friday promotions- even thought it feels like there are LOADS of sales at the moment, it is all on things that aren't quite right and that I don't need to buy. If I hadn't done a list in advance then I would have been really tempted by some of the reductions and maybe bought things that were ultimately just a waste. As it was, I was on the lookout for discount codes or points promotions from September onwards so I've managed to save some money even without BF  


So pleased to have it all done well in advance of the "early payday" in December so I won't be tempted to use that to top up my Christmas shopping. I'm going to pop over to join @EssexHebridean 's excellent December Pay Trap thread to make sure I don't fall into temptation nearer the time! Check it out -  https://forums.moneysavingexpert.com/discussion/5939652/beware-the-december-pay-trap 

EssexHebridean

Thanks for posting on the thread - it's been running a few years now and there are so many great viewpoints on it (as well as a couple of attempted thread-spoilers but we'll ignore them!) 

I'm with you on the black friday thing - I've clicked through to a couple of offers, thought "Hmmm...." and then closed down again. Anything I "want" rather than need at this stage, I will be putting on my Christmas list anyway, and there's not much that falls under the heading of "needs" for me at the moment.  It does feel a bit like everyone I get emails from wants me to buy something tomorrow though! 

Kakiste

I completely agree- I was topping up my amazon wishlist the other day prior to relatives buying me stuff and I added a few bits (new fitbit, earbuds etc) and I then had a proper think about it. I don't actually think I would use them all that much, I haven't really missed my fitbit since it broke 2 months ago and I think I'm almost going 'yep there's the electronics slot filled' rather than actually thinking about things I really want. (books )

EssexHebridean

I’d avoid FitBit like the plague these days anyway - their customer service is only good while the item is brand new, when it reached a few on the old and has been superseded by a new model they’ll consider the old one obsolete and basically stop being interested. The 2 year U.K. warranty is an utter joke - they’re not even prepared to abide by U.K. law when the item is clearly not fit for purpose inside the first 6 months! If, down the line you decided a new fitness tracker was on your wish list there are definitely better options out there.