Time to turn this around

FiscalPickle

Pay day was Friday, all of my repayments and squirrelling are done so it's just a case of living frugally until March payday rolls around. I've decided to work on an EF once the CC debt has been dealt with, once I know I owe no more credit card liabiliities with 0% balance transfers ticking away towards expiry I'll be able to sleep much easier. Couldn't get to weigh in last night because I had to work late, also the weather was starting to close in so I wanted to get home and batten down the hatches. The wind today is so icy, roll on spring!

Cherryfudge

FiscalPickle wrote: »

Pay day was Friday, all of my repayments and squirrelling are done so it's just a case of living frugally until March payday rolls around.

I think that's the shortest monthly summary I've ever seen!

Well done on being so organised.

I think we're all looking forward to spring!

FiscalPickle

I think I spoke too soon, I have a work suit at the dry cleaners which will cost £12.50 and a friends birthday meal on Saturday, so far going to be short by £28 for the month. I have a plan though - I have had my eye on a few bits around the house for eBaying, I will put those up later and fingers crossed, hope for the best. They are fairly decent items so I should be able to make up this shortfall, I am desperately trying to not use my emergency overdraft.

I got an alert from MSE Credit Club that my credit file has been updated, according to Experian I now have a credit score of 996. The weak points are credit cards and loans affordability, I really am aware now that my finances are stretched too thin. I still dream of the day next year when I've paid my last bit of debt off and I will be almost £900 a month better off.

Cherryfudge

Well done for having a plan. I can't imagine being £900 a month better off - what a thought!

groovychick69

My score and bad points are exactly the same - I’m never sure if it’s better to have “available” credit that I’m not using, or to get rid of the card so that I have less cards but them obviously I am then using more of the “available” ??

FiscalPickle

groovychick69 wrote: »

My score and bad points are exactly the same - I’m never sure if it’s better to have “available” credit that I’m not using, or to get rid of the card so that I have less cards but them obviously I am then using more of the “available” ??

I think if you have the credit available and arent using too much of the credit you do have, this can bump up your score. Another negative I had was for loyalty, probably from shuffling cards around. I dont really get this one though, have been with the same bank for donkeys and had loads from them. Been with the same mobile phone company, albeit not on a contract the whole time.

FiscalPickle

We always make a menu plan for the week ahead and base the food shopping list on it, adding in things like pet food, cleaning products and packed lunch ingredients. I’ve noticed over the last few months that the budget isnt going as far, we only buy treats on offer, same goes for bulk buying meat or fish to freeze. Things like meat (chicken, beef mince, the odd bit of lamb) and salmon are staples. I have no desire to go veggie but might have to start factoring in 2 vegetarian meals each week. Food seems more expensive than ever, dieting and budget shopping dont always go together :mad:

FiscalPickle

I was reviewing the statements for the CCs last night, I currently have £6,683 total CC debt. This is spread across Virgin and MBNA, with various 0% deals on various bits of the total coming to an end between April this year and September 2020. My original plan just after LBM was to chuck money at the Virgin balance, but I've now rethought that tactic as that has the longest expiry date.

So the plan going forward is to attack MBNA, the savings pot for the first batch of £1174 due to start accruing interest in April is continuing to build up nicely. Once that is paid, I will start building up the pot for the next chunk due in December. The final balance isn't due until September 2019, but all the CC debt should be paid by next February according to my spreadsheet. This approach will avoid any transfer fees, interest (if any) will be mere pennies.

enthusiasticsaver

Excellent plan re the credit cards to repay over the coming year with no balance transfer fees. How wonderful that will be to see that gone. I guess after the debt is gone you will be saving for a house deposit?

Cherryfudge

FiscalPickle wrote: »

We always make a menu plan for the week ahead and base the food shopping list on it, adding in things like pet food, cleaning products and packed lunch ingredients. I’ve noticed over the last few months that the budget isnt going as far, we only buy treats on offer, same goes for bulk buying meat or fish to freeze. Things like meat (chicken, beef mince, the odd bit of lamb) and salmon are staples. I have no desire to go veggie but might have to start factoring in 2 vegetarian meals each week. Food seems more expensive than ever, dieting and budget shopping dont always go together :mad:

I agree with you about food prices going up. If you are able to 'stretch' meat etc a bit further with pulses/grains/veg/potatoes then perhaps you could cut costs that way. There are some lovely veggie recipes around though!