Day 1

fatbelly

wheely wrote: »

Whilst i realise the overal cost of he repayment may be higher, and it would take longer to pay off, even if I paid 50% extra a month on my mortgage , the additional amount would be a third of my current debt repayments.

As would the repayments on a debt management plan. But a dmp is flexible and doesn't put your house at risk because the debt stays non-priority.

wheely

Well. The start of the money makeover.
A bit of account digging and a few comparison sites later and I've already saved about £50 a month on life assurance, TV packages and charitable donations.
Phone and TV/internet are up for review next month.
Utilities have been the same for 2 years, so time to review (although having lived here for 10 years, the cost is always broadly similar.
Dog insurance is
Proving more problematic, but I'll persevere.

Thanks for the encouragement.

[Deleted User]

wheely wrote: »

A bit of account digging and a few comparison sites later and I've already saved about £50 a month on life assurance, TV packages and charitable donations.

That's a good start.

As for the charitable donations, I know it seems mean, but I'd be inclined to cancel them, at least until you are on a firmer financial footing.

cms-help

Your SOA shows £120 as emergency fund but you have no cash assets? Have you been putting £120 away or is this an aspirational SOA?

wheely

The £120 goes into a savings account. It currently sits at about £500.

Gets used occasionally for holiday money, or appliance purchases or house repairs.

wheely

Another £17 saved on phone account, without even haggling. Will haggle with EE tomorrow.

wheely

£35-40 monthly mobile bill down to £9 SIM only.
Unlimited calls & texts, 4gb data and worldwide roaming and data use.

wheely

Energy switch complete - £25/month saved.

That's nearly £100 so far.

Dog insurance is proving trickier.

Next job, see if I can fix, or lower interest rates on the outstanding debt.
And found a great little app called Fudget to track all spending.

fatbelly

wheely wrote: »

Dog insurance is proving trickier.

Are you signed up to topcashback and quidco?

You will have to do a bit of work to compare prices but I note cashback up to £80 possible

TheBanker

Your Halifax credit card only has a balance of £1,800. What is the limit on this card? It may be worth checking with Halifax if you are eligible for a promotional balance transfer rate, to shift as much as possible from one of the other cards. See https://www.halifax.co.uk/creditcards/help-guidance/existing-customers/balance-transfers/

Might save a few pounds in interest per month?