will be able to fix this?

angelpye

Hi Emma,

Did you use whatsthecost? Or something similar? Makes planning payments so much easier.

With your question about entertainment, Might be worth leaving how it is now and working with those figures. I found in he first couple of months I needed to adjust things for things I had forgotten and one off things but also spend less as much more conscious about it. Well done for getting a plan

emmamc77

angelpye wrote: »

Hi Emma,

Did you use whatsthecost? Or something similar? Makes planning payments so much easier.

With your question about entertainment, Might be worth leaving how it is now and working with those figures. I found in he first couple of months I needed to adjust things for things I had forgotten and one off things but also spend less as much more conscious about it. Well done for getting a plan

Hi,I used the stoozing.com one. It's amazing to see how the snowballl effect really accellerates your debt payments. I have been watching a lot of Dave Ramsey on You Tube. He recommends paying the smallest balance first but I think I am going to do it in order of interest - high to low. Is this a decent strategy?

emmamc77

mumps wrote: »

I'd pay off the creation card and then the Asda card, you can do this is six months. Those two cards might offer you a 0% deal so as the others run out you can do transfers. With those 2 paid you then have £1,500 a month to throw at the other debts. By Christmas you could have the Halifax card clear and another £50 a month for the debt. At that rate this time next year you could be sub £50k and it starts to sound much more doable. Good luck with it.

Just seen the second SOA so not quite as above but you get the idea. Of course the payments on all the 0% cards will also be reducing so a bit more complicated but it will be going down fast.

We are gonna throw at least 2k a month at the debts. By this time next year I need down in the 40k's!!! We really do have to just do it now. We have talked about doing it for too long but it always felt unachievable

mumps

emmamc77 wrote: »

We are gonna throw at least 2k a month at the debts. By this time next year I need down in the 40k's!!! We really do have to just do it now. We have talked about doing it for too long but it always felt unachievable

Yes I forgot the regular payments you are already paying which are £1,500 already. I agree with you that you should do it under 3 years. That sounds great.

mumps

emmamc77 wrote: »

Hi,I used the stoozing.com one. It's amazing to see how the snowballl effect really accellerates your debt payments. I have been watching a lot of Dave Ramsey on You Tube. He recommends paying the smallest balance first but I think I am going to do it in order of interest - high to low. Is this a decent strategy?

For you the highest interest ones are pretty well the smallest anyway, Halifax is £100 lower than Asda but that's not very significant so I think it is a no brainer to get rid of the Creation and Asda first. You can make such good overpayments it really makes a difference very quickly.