We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

CreditCardJunkie's back again...

1234568

Comments

  • vic38 said:
    Well done on reducing your debt and on birth of your daughter (bit late but only found you this morning!).  Going forward I really recommend using different pots for all of your regular expenses.  I've been doing it for 3 or 4 years and it makes a huge difference to my ability to budget properly.  I have standing orders to transfer amounts to savings accounts within same bank (I use First Direct) each month, straight after pay day: Car/Insurance (covers MOT and Servicing too), Clothes, Gits/Xmas, Holidays, School extras, Haircuts to give you an idea.  Initially it was a bit of a balancing act to get it right but now I wouldn't do it any other way.  All the best for your return to work or furlough and well done on staying focussed.
    Thanks Vic! I did start a spreadsheet to work out how much I'd need for presents. I worked out I spend around £1000 a year (allowing for DD now too) the thought of putting £83 per month away for presents made me want to cry! I definitely need to start an Mot fund, I'm planning on doing this as soon as I get back to work! 
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
  • curlytop12
    curlytop12 Posts: 1,227 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    just read your whole diary, wow, you have done well, especially with the unforseeables!
    have you got rid of your nationwide CC, as in, cut it  up? i think you would manage without it, you have just got into the habit of juggling :)
    good luck with the job/ childcare etc. glad you are enjoying your little one.
  • just read your whole diary, wow, you have done well, especially with the unforseeables!
    have you got rid of your nationwide CC, as in, cut it  up? i think you would manage without it, you have just got into the habit of juggling :)
    good luck with the job/ childcare etc. glad you are enjoying your little one.
    Thank you! I haven't cut it up, I just don't feel like I have enough cushion if I desperately needed something, there's money there. I can't remember the last time I used it for something I didn't pay off straight away (I booked some flights but paid off straight away).
    Hopefully when I get back to work I can build a 1k emergency fund (same as the limit on that card) and then I'll be confident enough to get rid of it.
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
  • Wanted a more round number so paid £30 off to make the debt total £450.
    Savings are down to £130, because of the extra £30 & I had good fun buying some much needed new clothes online & birthday present bought this month. 
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
  • Sarahwithlove
    Sarahwithlove Posts: 2,769 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Are you paying interest on the debt? If so then be worth keep paying it off. If not is it worth getting an emergency fund together first? 
    *Dad loan - £5300 - £5900
    *Virgin Credit Card - £3552.50 - £0 - PAID!!
    *Natwest - £1828.35 -£975.00

    *Total debt - £6875*


    Savings
    *Savings - £2500/£2500
    *Premium Bonds - £100/£1000
    *Mortgage Overpayments - £0/£950


    New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/
  • Are you paying interest on the debt? If so then be worth keep paying it off. If not is it worth getting an emergency fund together first? 
    Hey Sarah, no it's 0% until Sept 2020. I know everyone says about the EF but my mindset just wants this debt gone. DH has £500 set aside as an EF and is building on this every month. I plan to start building one when I'm back to work and have a decent surplus! 
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
  • Patiently waiting for payday to roll around to see what my pay will be to see if I can clear the final 450 or not this month. 
    I've paid for new brakes for my car and paid towards a plumbing emergency repair out of my savings which are now back to almost 0. But I haven't had to use my credit card. I feel like a reformed character! DH had to replace an alloy and 2 tyres this month too which came out of his savings. I really feel that we have came a long way, especially to clear debt on maternity. We still have the boiler to address, but it's 0% to Jan 2022 & I will focus on that from end of June when I get back to earning again.
    After a bit of a rough week, I'm feeling positive today 🌈
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
  • Anddddd I have paid my last £450 🎉🎉🎉🎉🎉🎉🎉
    I did get paid less than I expected but I still had enough to cover the last of my personal debts :) My journey isn't over yet. We have a little joint debt to tackle so I'm going to start a new journey as I feel like I'm entering a new chapter!
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
  • Sarahwithlove
    Sarahwithlove Posts: 2,769 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    Congratulations that's great news. How much is the joint debt? Will hubby contribute towards it? 
    *Dad loan - £5300 - £5900
    *Virgin Credit Card - £3552.50 - £0 - PAID!!
    *Natwest - £1828.35 -£975.00

    *Total debt - £6875*


    Savings
    *Savings - £2500/£2500
    *Premium Bonds - £100/£1000
    *Mortgage Overpayments - £0/£950


    New diary- https://forums.moneysavingexpert.com/discussion/6474943/the-three-cs-coffee-clothes-credit-cards/
  • Thanks Sarah I'm buzzing :) He will yes, I've started a new diary for it! It's £2334 all at 0% so we're going to focus and get some savings together for a decent EF!
    Debt Free as of December 2020 👏

    Save 12k in 2024 #25 - £500 / £2000

    MFW - 18 months shaved off the mortgage
Meet your Ambassadors

Categories

  • All Categories
  • 346.5K Banking & Borrowing
  • 251.3K Reduce Debt & Boost Income
  • 451.3K Spending & Discounts
  • 238.7K Work, Benefits & Business
  • 614.1K Mortgages, Homes & Bills
  • 174.7K Life & Family
  • 251.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.