Decisions decisions...

Highlanddream

So, I have paid off £38000 worth of debt, slowly but surely :T I have one credit card left which is set at 0% interest for the duration of the debt. I owe £1350 on this card, paying £30 a month. It's up to date. I am itching to start saving just to get some cash behind me - I do have access to £5000 on credit card for emergencies if necessary but would hate to use it. Should I start saving now or get rid of the last £1300, I keep changing my mind 🤔,

Claddagh_Noir

I would have said get rid of the debt, but it is not revolving (meaning that there is interest charged every month) I would keep it as it is. Although, you may change your mind and pay it all off just to start with a clean slate.

Dean000000

Congratulations! Lovely story to hear. Well done.

Save untill the 0% runs out then pay it off.
Well done again.

Refreshing to see, as opposed to countless amounts of other posters on here looking to shonk their way through bankruptcy.

Plaudits

Highlanddream

I've worked 70+ hrs a week and sold anything, literally anything, that dared to stay in one place for more than a week! I don't why I am finding it hard to make the decision, I suppose I have been on a 'paying everything off' mode for so long I am struggling to change it to 'save everything' mode. The other piece if good news, as of now, I am only working 37 hrs a week, can't believe I am nearly there. It is the 0% that is throwing me!

MatyMoo

How about doing 50/50?

50% of what you can afford to the card and the other 50% to savings?

To me it would be exciting to see he see saw change.

Sofee3

Amazing well done, I'd be tempted to clear it so that's all debt gone then start the saving.

improving47

The end is so near ����

I would probably pay it off and then start a fresh. Imagine the feeling of being debt free!!

Huge kudos

BabyStepper

Hi there

Well done for paying off all that debt, you're very inspiring.

My opinion is that you need an emergency fund NOW! The only way to stay out of debt is to not use any more credit, and right now your plan is to use more credit if something comes up. Things will always come up, that's a given, so you need to start a stash for when, not if, it happens.

How long is your 0% rate for? And how much do you have available for payments? I'd set your payments to this debt to pay it off in time, avoid any more balance transfers, and start saving the rest. It's a total change in mind set and definitely worth doing. At some point you will become debt neutral, your savings will equal your debt, and that will be a big motivation.

Dean00000...'shonk'...you learn something new every day...love it!

Highlanddream

I am thinking, at the moment, will probably change my mind by this afternoon, whether to keeping selling everything that doesn't move in a week and putting that towards the debt that's left and set up a savings pot ftom my wages, so I feel like I am still paying it off but not as quick ��. The 0% is until is paid off but.....

Highlanddream

The other way of looking at it is why the h*ll am I worried about 1300 but that attitude probably has something to do with the mess I got myself into to start with!