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Pay off which first? Help please
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Thank you. It's actually a good and satisfying feeling paying off debt.0
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Bringvaluetome wrote: »So I will tackle the credit card debt first. My mindset has completely changed this weekend.
I've just made a payment of £775 off the credit card, so I'll be under 4k now!!!
Ok, it's a nice feeling, but there needn't be a huge rush to run it down as fast as possible, as the card doesn't charge interest until next year. You could leave that in savings for a couple of quid interest per month, and add more from spare income each month.
If you keep having plenty to spare each month, put enough in savings to cover the card next year, and go towards paying the loan off earlier1 -
Getting under £4k was more phycological than anything. All of a sudden it doesn't seem so much.0
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I moved my work pension in to SIPP last year.
Also had a Nest pension which I added to the SIPP.
Total pension is just over £5k.
I'm in my early 30's.0 -
What savings accounts offer that level of return per month?0
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Bringvaluetome wrote: »What savings accounts offer that level of return per month?
There are several monthly saver accounts paying 2 to 3%, which can be added to at up to £250 or £500 a month; some last a year, orhers open-ended. I hope your HTB ISA is in the same range.
https://forums.moneysavingexpert.com/discussion/5776240/regular-saver-thread-new-and-restarted0 -
My HTB ISA is with Santander and pays 1.75% PA0
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Bringvaluetome wrote: »My HTB ISA is with Santander and pays 1.75% PA
It might be worth trying to keep an eye on rates, now the accounts are no longer available to open, but transfers are possible if you wish.
I've just had a look around and found it's a bit harder to make comparisons than it used to be. MSE says the best nationally is 2.25%, but I wonder whether Barclays and Nationwide are still 2.58% and 2.5%0 -
Anymore advice on my situation?0
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Bringvaluetome wrote: »I moved my work pension in to SIPP last year.
Also had a Nest pension which I added to the SIPP.
Total pension is just over £5k.
I'm in my early 30's.
Why did you move your work pension into a SIPP? Doesn't that mean you have foregone your employers' contribution?I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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