I want to clear every last penny

Gemsy81

Is there any way of increasing your income? Overtime? Second job?

Duh18

UPDATE, I’d be grateful if anybody could help me I have cleared Halifax and reduced Lloyds loan by £200.00 what would you tackle first out of the remaining below

NET salary £1085.00

Contact Lenses £20.00
EE Phone £47.50
House keep to parents £60.00

HSBC credit card , £6,300 (0% till December 2019 then 21.9% onwards) £160 min
Santander credit card £2950 18.9% £60 Barclaycard credit card £500 (34.9%) £20 min
Lloyds refinance loan £2700 9.9% £45 min (71 months remaining)
Argos Card £225 29.9% £10.00 min

I’m currently left with £600 per month due to a salary increase, what should I tackle first? Thanks so much for help guys

Duh18

Sorry, I am currently left with £600 per month

Updated amounts

HSBC credit card , £6,300 (0% till December 2019 then 21.9% onwards) £160 min
Santander credit card £2950 18.9% £60 Barclaycard credit card £500 (34.9%) £20 min
Lloyds refinance loan £2500 9.9% £45 min (71 months remaining)
Argos Card £225 29.9% £10.00 min

BookmobileBadGirl

Duh18 wrote: »

Sorry, I am currently left with £600 per month

Updated amounts

HSBC credit card , £6,300 (0% till December 2019 then 21.9% onwards) £160 min
Santander credit card £2950 18.9% £60
Barclaycard credit card £500 (34.9%) £20 min
Lloyds refinance loan £2500 9.9% £45 min (71 months remaining)
Argos Card £225 29.9% £10.00 min

If it were me in I would throw £300 of that £600 against my debts.

Starting with Argos, then Barclaycard, then Santander

Within three months you will be down to just three debts left.

Theamazingshrinkingwoman

I would start by working out how you've increased your debt so much since you started paying it off. It sounds harsh but it won't ever get paid off unless you address the habits that keep you overspending. Good luck!

Karonher

It does seem that little has been paid off since you last posted. Did something happen to throw you off track?

You say you are left with £600 a month so either this is not accurate or you are wasting it. Where is that money going? Its been 6 months at least since your last post on this thread and so a good couple of thousands could have been paid off.

I know you have an online diary but I think you need to keep a daily one and list everything you spend.

enthusiasticsaver

You have not reduced the credit cards by much. Are you still spending on them?

You have £600 spare so should use as much as possible to get the debt down. Barclaycard and Argos are relatively small but high interest rates so you should repay them and close them down.

David2Prit

Hmmm you still spending?

Gym - could you cancel in August and look at using a company called The Gym? 24 hours and usually cheaper. I pay £15 a month.

NorthernMonkey1

You don't really have £600 a month spare. That assumes that your car uses no fuel, and you don't ear.

You need to get a realistic handle on your expenses first. Also hand your credit cards to your parents. Ask them to hide them.

Then pay off that argos account. Just phone up on your next pay day and pay if off in full. Is insane interest.

tallyhoh

Wow , what are you using your credit cards for?

At the moment you are living in the cheapest housing you will ever have in your life, £60 a month wouldn't cover a third of my council tax!

Seriously as the others have stated above you need to find out what you are spending on.

Is there something you have missed out like smoking, gambling, nights out?

You will never be in a better position than you are now to pay your debts.

Go over to youtube & watch some of Dave Ramseys video's to give you some sort of motivation