2020 time to change

EchoB

Just realised there was a typo in my November updates-cc2 was 3831 not 3031! 🤦🏻‍♀️

Sarahwithlove

Are you paying enough off each card to make sure it will be clear before end of 0% period or are you gonna look to do balance transfer?
I think it's good idea to have a car and vet pot. Do you have an emergency fund? You did such a great job on the debts last year, maybe now is good time to get some savings behind you 

EchoB

Thanks @Sarahwithlove you are right! I definitely need to work on some savings this year. 

I had an EF although it is now depleted, so I need to build that up along with my car and vet pots! I have made car and vet pots in Monzo and have put £5 in each, I can’t do much this month but will add to them next month, I want to ensure I have a buffer in the vet pot and be able to pay my MOT in April and the  insurance for my car in the summer from my car pot, then I should be able to lower the contribution for the second half of the year.

My credit card plan is to target CC2 first, I’m going to pay £250 a month to it and build up the remainder of the balance in my Credit card pot so I can pay it in full when the interest free period ends.

Then I will pay £250 a month off CC3 whilst building up a pot to contra its balance. Although I may or may not do a BT and target the loan for CC3.

I definitely want to bring my cc debt down to £5-6k at 0% before aggressively tackling the loan.

That’s the plan at the moment anyway! 

Sarahwithlove

Good plan. My sinking funds and emergency fund have taken quite a battering lately so I'm too looking to build them up and then pay more off towards end of year on the card. 

bd80s

Wow you cleared an awesome amount in 2020!!! 
Like your plans for savings for 2021 too, I have no doubt you'll get to all your targets