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34 and new to debt (SOA included)
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chelseablue wrote: »Probably the wrong way of doing it
I have a current account I don't use so I can divide the yearly cost by 12 and move that amount into there
It would certainly be more accurate.
Don't know if you missed my suggestion of changing to minimum payments to your 0% cards and paying the difference to your Barclaycard. How much interest are you paying per month on the Barclaycard?0 -
chelseablue wrote: »Never thought of asking them to reduce the interest. Does that leave any mark on my credit file?
No it doesn't.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
It would certainly be more accurate.
Don't know if you missed my suggestion of changing to minimum payments to your 0% cards and paying the difference to your Barclaycard. How much interest are you paying per month on the Barclaycard?
Only paid for the flights at the end of February so have had one statement with the high balance and the interest was £117.
My plan is after the wedding to use whatever savings are left, and any money we get given as wedding presents, to hopefully clear the Barclaycard.
Minimum payment to Sainsbury's is £22 and I send £40
Minimum payment to Lloyds is £24 and I send £1100 -
The thing to remember is that these things should still be included in your overall budget, even if it comes out of the savings, which effectively they are. In a proper budget you include savings, what goes in and what comes out, as for example annual costs will need to be saved up for and if you take money out of savings without accounting for it you could end up spending the money that is meant for other things.chelseablue wrote: »Yes that's true. My car insurance is around £250 so I pay it in full each year.
I pay it from the current account, so that month instead of saving £1,000 I'd only save £750 that month.
Same in February when I pay the buildings insurance, this year it was £125 for the year so I just paid it on the debit card and saved less that month.
Probably the wrong way of doing it I have a current account I don't use so I can divide the yearly cost by 12 and move that amount into thereRetired at age 56 after having "light bulb moment" due to reading MSE and its forums. Have been converted to the "budget to zero" concept and use YNAB for all monthly budgeting and long term goals.0 -
chelseablue wrote: »our son will only be in Reception (he wont be missing school any other year)
As a Reception teacher I'm a bit offended at this statement!
Don't forget the £180 fine.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0 -
zippygeorgeandben wrote: »As a Reception teacher I'm a bit offended at this statement!
Don't forget the £180 fine.
Can you still be fined if they are below compulsory school age? I didn't think you could but tbh I haven't looked into it as I've never taken mine out for holidays.0 -
I wold write to the head teacher seeking permission as the experience you are offering the child outweighs the small amount of time lost at school. Education does not start and end at school. Life experiences are more powerful for a child's overall development.
Talk about a nanny state eh!Debt is a symptom, solve the problem.0 -
Can you still be fined if they are below compulsory school age? I didn't think you could but tbh I haven't looked into it as I've never taken mine out for holidays.
No you can't.
I was fined for one of my for an holiday and not the other, one was year 2 and the other reception and under 5. When I asked they said it was because it was before the term after her 5th birthday I couldn't be fined for her.
Before the negative comments start it was a holiday funded by Make a wish and I didn't choose the dates.“Once you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the way.”0 -
Just a little pass by and read you are going to Australia, we took both our children there for Christmas many years ago about 20 . The experience was amazing for them, Father Christmas in shorts ! . I think travel is an invaluable experience for children, mine travelled extensively with me and ex.
Plus my DD is taking her son out of school he will be in reception as well for 5 days in December. Why not do a scrapbook with him of his journey then he can take it to school when he returns .
You sound very organised and I wish you a good debt free journey.
Ps I am off to Oz in December as well can't wait .This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
I checked with the council and we wont be fined as he wont be compulsory school age.
I will be asking the teacher if there's any homework that we can take with us. The scrapbook is a great idea!
I've set up a standing order so that I send £100 a month into the bank account I don't use.
This will be for anything car related0
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