Debt issues amongst others.

floorspeed_2

Sarahwithlove said:

Do you get paid weekly or monthly? I have two accounts one is a bills account where all my DDs come out and other is everything else. I then pay in enough each month to cover my DDs and have an overdraft of £100 just in case one is more then expected. Might be something to consider when you're feeling more secure money wise. 

Simple but affective, I do have another current account in which I could send money too as you suggested with DDs coming out! A bit more difficult being over here and not having the account details but might be worth it at a later date with restricted access.

i get paid weekly, I do find it strange posting my income each week  and I am certainly not trying to out do anyone or boast in anyway. For the record I spent 4 years on £323 a week with £100 rent each week and I know the struggle people go through and I am very lucky to be in a position I am today but otherwise unfortunate in other ways. 

Sarahwithlove

Is there anyone who could get you the bank details or could you open an account in Germany to use for everyday spends and use the current account you use at the moment to set the direct debits up? You could work out your monthly DDs on a weekly basis by x12 then dividing by 52 and put that much per week into the account. If you can manage to work a week ahead of your DD's then you would always have enough in the bank account then. I have a £100 buffer in my bills account and a small overdraft just in case. I.e some unexpected phone charges it helps cover these. 

floorspeed_2

Sarahwithlove said:

Is there anyone who could get you the bank details or could you open an account in Germany to use for everyday spends and use the current account you use at the moment to set the direct debits up? You could work out your monthly DDs on a weekly basis by x12 then dividing by 52 and put that much per week into the account. If you can manage to work a week ahead of your DD's then you would always have enough in the bank account then. I have a £100 buffer in my bills account and a small overdraft just in case. I.e some unexpected phone charges it helps cover these. 

I do like the logical side to it in regards to dividing up bills which will probably make a lot of sense when I am back. The only direct debt would be my phone at the moment so it’s some what not a priority.

having a german bank account costs approximately 10 euros a month  and unfortunately the savings I would make on my direct debt would be wiped out just by those fees.

with regards to my current account In the uk it would be best for me just to walk into the bank with my passport and proof of address and despoil X amount and keep the receipt with sort code and account number on it rather than going in circles with phone conversations and emails trying to get my details.

regardless of that I will indeed keep this idea in mind as it could make things rather easier for myself.

thank you tho. 

Sarahwithlove

Ahhh OK I think I remember my brother saying actually that they have to pay in Germany for their account. But when you are back in UK and living with your gf i would highly recommend that you have a bills account because that's one thing you don't want to default on.

floorspeed_2

Sarahwithlove said:

Ahhh OK I think I remember my brother saying actually that they have to pay in Germany for their account. But when you are back in UK and living with your gf i would highly recommend that you have a bills account because that's one thing you don't want to default on.

I will definitely do that Sarah 🙌

floorspeed_2

I am genuinely gutted I am not spending tonight with my girlfriend :-( I made the normal payment of £250 but because a arranged trip to London I was supposed to go to with her I said she could utilise £100 towards for it so there is a total of £900 in the rent kitty. Would of loved to of been with her tonight but that’s my fault :-(

Well this week kind of ends a bit negatively as my foot and leg is now in a lot of pain I believe due to my now old work boots which I have been dealing with the past 2 weeks. I am glad I got my new boots now am I am hoping it recovers over the next few weeks and the pain goes away.

The boots were 70 euros and I had budgeted for 100- 150 euros and they were the most expensive and comfy boots there. I got too the till and they must of been reduced because the total was 45 euros so that’s a bit of a win.

Anyways around lunch time I phoned up my payday loan company’s and settled my loans. I had guesstimated the amount I could save by paying early and i was surprised I had saved myself from more interest than expected. Anyways good riddance to them!

Hopefully next week I can vanquish my vanquis credit card in one swoop as that now stands as my next highest interest card.

I have been feeling rather tired today after another long week with another working day tomorrow, I guess I am still trying to get used to working Saturdays and missing my girlfriend probably doesn’t help either in regards to my state of mind. 

I guess opening up on this forum is kind of helping by writing things down and having some sort of log for each week and the progress I have made so far. Also I have directed my mind back to education and did a small education course on alcohol and human health 2 days go.

My retention of information is rather lacking at the moment but I understand the complex terminology but I hope my retention of information improves when I choose a small course which might spark some further interest.

Overall I feel my mind is broken and I hope my debt relief by paying it back each week helps take the strain off my mind.

Anyways down too the numbers.

Total weekly income: £1072.88

£250 girlfriend rent savings ✅

£285.11 satsuma loan settlement ✅

£345.68 uncle buck loan settlement ✅

£60 Vanquis credit card ✅

£11.66 Mac Donald’s ✅

£37.80 work boots ✅

£9.99 Spotify ✅

£13.43 Netflix ✅

£9.21  savings ✅

£50 living expenses ✅

Total debt repayments: £690.79

Fixed Payday loan Interest saved: £134.24

I hope everyone has a great weekend and a happy Valentine’s Day and a nice week ahead.

Sarahwithlove

Sorry you couldn't be with your girlfriend tonight but try and be positive. It won't be too long until you are together again. 
Well done on the loans though that's great news. Every step that saves interest is great. How much is left on the credit card now? Are you eligible for any balance transfer cards to try save some interest? 

floorspeed_2

Sarahwithlove said:

Sorry you couldn't be with your girlfriend tonight but try and be positive. It won't be too long until you are together again. 
Well done on the loans though that's great news. Every step that saves interest is great. How much is left on the credit card now? Are you eligible for any balance transfer cards to try save some interest? 

Thanks for the support Sarah i do hope I can keep it together for both me and my girlfriend, I was rather tired and forgot to give a update on total account balance. Need to update my app and this blog tomorrow.

due to bad credit rating I would be lucky getting 20-30 percent APR. 0% balance transfer is for people with great credit ratings 

BabyStepper

Hiya
I just read your diary and wanted to say congratulations on doing so well reducing your debt and keeping on the straight and narrow. 
Just a thought about credit ratings, they change and get updated regularly, so its worth keeping an eye on yours online if you can. I went from bad credit to pretty good credit quite quickly once i had the debts under control and started overpaying things. It doesn't need to be amazing, just good enough to get a 0% transfer deal. 
Also, I'd include the flat deposit fund that your girlfriend looks after in your statement of affairs. It's yours too. And all the advice about getting her to sort out her debts is good.
I've subscribed. :-) 

floorspeed_2

floorspeed_2 said:

I am genuinely gutted I am not spending tonight with my girlfriend :-( I made the normal payment of £250 but because a arranged trip to London I was supposed to go to with her I said she could utilise £100 towards for it so there is a total of £900 in the rent kitty. Would of loved to of been with her tonight but that’s my fault :-(

Well this week kind of ends a bit negatively as my foot and leg is now in a lot of pain I believe due to my now old work boots which I have been dealing with the past 2 weeks. I am glad I got my new boots now am I am hoping it recovers over the next few weeks and the pain goes away.

The boots were 70 euros and I had budgeted for 100- 150 euros and they were the most expensive and comfy boots there. I got too the till and they must of been reduced because the total was 45 euros so that’s a bit of a win.

Anyways around lunch time I phoned up my payday loan company’s and settled my loans. I had guesstimated the amount I could save by paying early and i was surprised I had saved myself from more interest than expected. Anyways good riddance to them!

Hopefully next week I can vanquish my vanquis credit card in one swoop as that now stands as my next highest interest card.

I have been feeling rather tired today after another long week with another working day tomorrow, I guess I am still trying to get used to working Saturdays and missing my girlfriend probably doesn’t help either in regards to my state of mind. 

I guess opening up on this forum is kind of helping by writing things down and having some sort of log for each week and the progress I have made so far. Also I have directed my mind back to education and did a small education course on alcohol and human health 2 days go.

My retention of information is rather lacking at the moment but I understand the complex terminology but I hope my retention of information improves when I choose a small course which might spark some further interest.

Overall I feel my mind is broken and I hope my debt relief by paying it back each week helps take the strain off my mind.

Anyways down too the numbers.

Total weekly income: £1072.88

£250 girlfriend rent savings ✅

£285.11 satsuma loan settlement ✅

£345.68 uncle buck loan settlement ✅

£60 Vanquis credit card ✅

£11.66 Mac Donald’s ✅

£37.80 work boots ✅

£9.99 Spotify ✅

£13.43 Netflix ✅

£9.21  savings ✅

£50 living expenses ✅

Total debt repayments: £690.79

Fixed Payday loan Interest saved: £134.24

I hope everyone has a great weekend and a happy Valentine’s Day and a nice week ahead.

For record purposes.

Outstanding debt

£1360.49 capital one credit card

£1002.14 PayPal credit card

£394.52 amazon credit card

£394.06 vanquis credit card

£344.79 Bamboo loan

Total outstanding debt £3496