Getting the job done......

southern_chick

Wow well done on becoming debt free but really sorry to hear about your business. It does sound as if there will be help out there hopefully so will be worth looking in to. Xx

Timpanum

southern_chick said:

Wow well done on becoming debt free but really sorry to hear about your business. It does sound as if there will be help out there hopefully so will be worth looking in to. Xx

Thank you for that. I'm still earning some money so I'll just have to pull in my belt a lot but that's probably no bad thing! It'll mean deciding on needs and wants.
Once we come out the other side, my business will bounce back - the demand is still there and indeed may be greater if we've all spent 3 months sat on our backsides doing no exercise!
My next decision is whether to actually complete the transaction and pay off the Credit Card balance of £5400 with my savings (It won't wipe me out completely) or move to another 0% card to halt interest until I know how long the current situation will go on for, keeping my savings just in case the situation goes on and on and on!
If I do this, the effect will be to have moved £3800 from 15.9% interest to 0% but with a balance transfer cost of £114 to shift it to a new card - I can live with that.
Timps

Sarahwithlove

I'd be tempted to do a balance transfer. In grand scheme of things £114 isn't massive amount. I've just got myself a 0% purchase card for 20 months for in case of emergency. It's locked away in the safe but if I need it I know it's there. Instead trying to reign in the spending. Working from home is at least cutting the petrol costs. 

Timpanum

Well I just got the bill from the plumber which was £59.40 so that could have been a lot worse, although between you and me I'm not sure the work he did has actually solved the problem so there may be a further visit required.
In terms of my job, I might actually have found a way to earn a little income during the current crisis but I'll know more soon.
Food shopping and the grocery challenge has just died a death - I've over spent by £90.61 but there was no choice but to be prepared for the upcoming few weeks which I think will definitely get worse before they get better. So March's budget was trashed but April's grocery budget might be a World record low!!

How are you all doing? As well as can be expected I hope. Stay safe guys! xxx
Timps

Naomim

Sarahwithlove said:

I'd be tempted to do a balance transfer. In grand scheme of things £114 isn't massive amount. I've just got myself a 0% purchase card for 20 months for in case of emergency. It's locked away in the safe but if I need it I know it's there. Instead trying to reign in the spending. Working from home is at least cutting the petrol costs. 

I agree, for now whilst everything is so unsure, I'd take a £114 hit and keep the savings in case you need them.   
keep well
Naomim

Timpanum

Good morning all, 
I can't believe it's about 3 weeks since I posted on here, considering I'm stuck at home with "time on my hands" so to speak. How come time is flying so much?
In financial news, I've had to seriously redo my YNAB budget from scratch to account for the fact that my earnings are precisely £0 now that we are on lockdown, although I am getting some support. I've sorted all my expenses out into Essential & Non-Essential, Annual, Monthly & Daily which has helped me to see things clearly. Waiting for the Govt to advise me on where I stand being self employed and hoping to get the 80% profits thing. I feel ever so guilty about that which I know is daft. I'm better off than most.
I've balance transferred the car finance over to a CC at 3.9% to give me a bit of breathing room, electing to keep my savings just in case money does get tight. The "loan" is until March 2023 but I'll have it paid off long before then. This was the best solution for me at present and I feel calm about the decision I made.
 More news later but for now, I hope you are all staying safe.
Timps