In need of encouragement...

in Debt Free Diaries
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  • IrishSeanIrishSean Forumite
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    Savings to premium bonds had a SO date of 30th so wasn't clearing til this morning meaning i'd have missed the July draw. I bought directly from NS&I on Sat then made a withdrawal for after today's draw, using the 0% overdraft to cover the difference. 

    DW nearly had a canary when n'wide pinged her to say a payment of £1500 was due to leave our acct and would place us in the OD😂
    I explained the overlap and she understood OK.
    TBH if it were up to me i'd run that £1.5k OD close to max by leaving it in savings til the 0% ended but it would mean DW getting a text for every dd: not worth the hassle. I explained to her we had 0% til July and i cancelled my text alerts but she's letting her's continue. 

    Credit file is moving at a glacial pace; Virgin made a new 0% BT offer y'day, which is in chocolate teapot territory as my only balance is on Virgin😂

    They have offered a 0% MT in the past, which I've used by paying off with savings then borrowing back. The 2% for a 6 month shift might be an option I look at so I can let my dd of £90 a month clear a whack and throw a grand of savings at the remainder. Will see if any other offers pop up during June.

    Am weighing up the desire of wanting to be debt free quickly with 'i like the feeling of saving again' and if it only costs me £20 for another half year shift then that's OK. I remember paying my old (and I mean old) student loan of £1000 at the SLC's rate of £19.19 a month; I never saw it go, lol. 

    There must be other DFW out there who reached the point where their debt was all at 0% and they didn't 'feel' the payments anymore. I'm thinking that feels pretty close to full DFW status.

    Will see how all pans out in June; i'd love to pay off rates (gb council tax) & double car insurance this month & not be too far into the OD but I think the buffer got spent on the daughter's b'day yesterday. Still, she got a lovely range of pressies, including a supersoaker thrown in by me, so mighty fun at the w/end. I can tidy the OD with June pay as getting on hols anywhere bar the Republic of Ire seems remote atm & even then it might only be a short week in Aug, depending on lockdown lifting. 

    Keep whacking those debts all
    💪😀


    Admin for Tilly Tidy to £1825 DFW challenge: 2021
    Rolling Total for 2021: £970
  • ryanm8655ryanm8655 Forumite
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    You’re doing great.

    I find the credit reference agencies are a few months behind in terms of updating figures.

    In terms of saving vs clearing debt. I’d save while it’s on 0% but don’t think there is any point in paying a 2% fee for further saving, when the payoff on the cash will be less than that. Just my 2p.

    This time of the month is always the toughest. Just waiting for the next payday...

    August 2019: £28.8k

    November 2020: £0 (0% interest)

    My debt free diary: https://forums.moneysavingexpert.com/discussion/comment/77330320#Comment_77330320

    <br>

  • IrishSeanIrishSean Forumite
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    Thx Ryan!

    I follow your diary with a keen interest :)

    I'm not going to do a countback on the end of May; i've pay my rates and the £1500 went to savings; at least i've the wriggle-room of paying for car insurance out of June pay; ran quotes tonight and should be able squeeze the beloved companies to sub £400 for 2 cars, fully comp, business use for 1, protected no claims, ok excess etc.
    Thats a nice drop from £500+ 2 years ago.
    TBH part of me is considering not insuring the Audi I sorned last month until driving again. Im in a lowish crime area and there always a car blocking it in on my drive so might leave it until Aug / Sept: if i'm mad in the head let me know, lol!

    Still keen to see how the credit offers evolve in June. Sadly no premium bonds wins in June but early-ish days. 
    Admin for Tilly Tidy to £1825 DFW challenge: 2021
    Rolling Total for 2021: £970
  • edited 5 June 2020 at 7:18AM
    ryanm8655ryanm8655 Forumite
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    edited 5 June 2020 at 7:18AM
    Doesn’t sound crazy to me, unless the car is particularly valuable. I’d considered cancelling the insurance on mine, I do use it occasionally but don’t really need to during lockdown.

    August 2019: £28.8k

    November 2020: £0 (0% interest)

    My debt free diary: https://forums.moneysavingexpert.com/discussion/comment/77330320#Comment_77330320

    <br>

  • IrishSeanIrishSean Forumite
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    ryanm8655 said:
    Doesn’t sound crazy to me, unless the car is particularly valuable. I’d considered cancelling the insurance on mine, I do use it occasionally but don’t really need to during lockdown.
    It's a 13 yo A6 so no huge value in it; tbf it doesn't look it's age (it's the big grille one) and is the most reliable car i've owned (had it 11 years even tho it's not the most exciting drive😂).
    If I go multicar with admiral again I can add the audi in in a month or 2 & pay the difference to next July which could be up to a 6th saving so worth a look. 
    DW thought i'd gone bonkers paying savings and full rates (but with 0% od it's affordable enough) so looks like end of year savings will be a pleasant surprise. A wee £1k on premium bonds would he nice to batter the remaining CC balance but I know i'm over optimistic there 😂 
    Admin for Tilly Tidy to £1825 DFW challenge: 2021
    Rolling Total for 2021: £970
  • findingthisdifficultfindingthisdifficult Forumite
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    Just caught up in here, this is a quote that I love too "Never again will I lie to myself and say 'Here's the list of things I'd do if only I had the time'..."  I've had ALL the time and that list still looks like a long list... 😂

    I hate how long it takes for credit reports to catch up, mine still shows me as having £8.5k debt when actually I only have £6.3k excluding the mortgage of course.

    I don't think it's a bad idea to SORN the car if you're not using it at the mo, money is better in your pocket than theirs at the moment.
    Wobbling my way out of debt one month at a time

    Credit Card £0/£3,161 0% interest PAID IN FULL 29/01/2021
    Loan £0/£23,179 5.4% PAID IN FULL 31/08/2020
    Total £0/£26,340 100%
    DEBT FREE AS OF 29/01/2021

    wobbling-my-way-out-of-debt

  • IrishSeanIrishSean Forumite
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    Just caught up in here, this is a quote that I love too "Never again will I lie to myself and say 'Here's the list of things I'd do if only I had the time'..."  I've had ALL the time and that list still looks like a long list... 😂

    I hate how long it takes for credit reports to catch up, mine still shows me as having £8.5k debt when actually I only have £6.3k excluding the mortgage of course.

    I don't think it's a bad idea to SORN the car if you're not using it at the mo, money is better in your pocket than theirs at the moment.
    👍👍👍

    Haha, my list is long too! 

    My credit report has only just caught up on my credit limit increase (& %% reduction in credit utilisation, now 27%, down from a yikes figure of like 92%!😱)
    I'm feeling bored on the money front atm so will either comp or do some ebay selling to fill the week.
    I normally mystery shop IRL or buy sell cars but both are pretty much on hold. In the olden days i'd have filled the time with an online gamble but that's all blocked TG; not that soldier anymore!

    My few small shares aren't very exciting to watch & I can't be arsed chasing those measly savings rates so sticking with premium bonds and chipping at the 0% cc til something more exciting happens😂
    Admin for Tilly Tidy to £1825 DFW challenge: 2021
    Rolling Total for 2021: £970
  • ryanm8655ryanm8655 Forumite
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    IrishSean said:
    Just caught up in here, this is a quote that I love too "Never again will I lie to myself and say 'Here's the list of things I'd do if only I had the time'..."  I've had ALL the time and that list still looks like a long list... 😂

    I hate how long it takes for credit reports to catch up, mine still shows me as having £8.5k debt when actually I only have £6.3k excluding the mortgage of course.

    I don't think it's a bad idea to SORN the car if you're not using it at the mo, money is better in your pocket than theirs at the moment.
    👍👍👍

    Haha, my list is long too! 

    My credit report has only just caught up on my credit limit increase (& %% reduction in credit utilisation, now 27%, down from a yikes figure of like 92%!😱)
    I'm feeling bored on the money front atm so will either comp or do some ebay selling to fill the week.
    I normally mystery shop IRL or buy sell cars but both are pretty much on hold. In the olden days i'd have filled the time with an online gamble but that's all blocked TG; not that soldier anymore!

    My few small shares aren't very exciting to watch & I can't be arsed chasing those measly savings rates so sticking with premium bonds and chipping at the 0% cc til something more exciting happens😂

    With you on the bored front. I’ve ordered a fragrance sample to tide me over ha. Got a few bits I’ll attempt to sell as well. Find the beginning of the month tough as there’s not a lot to keep me occupied and focussed once work is done...mapped out my finances for the rest of the year pretty much ha.

    Great that you no longer resort to gambling. I get annoyed if I stick £20 on the boxing and lose so don’t think I could cope with gambling regularly ha.

    August 2019: £28.8k

    November 2020: £0 (0% interest)

    My debt free diary: https://forums.moneysavingexpert.com/discussion/comment/77330320#Comment_77330320


  • DebbyInDebtDebbyInDebt Forumite
    32 Posts
    10 Posts
    I feel the same about credit reports. I've just paid off my first debt and I've become obsessed checking my report every day waiting for it to update!!
    Funny, I used to avoid my credit report like the plague and now I'm obsessed with it.
    Debt
    May 2020: £16,307
    June 2020: £10,303
    Total: £6,004 / £16,008 (36.82%)
    4/10 accounts cleared
  • IrishSeanIrishSean Forumite
    397 Posts
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    I feel the same about credit reports. I've just paid off my first debt and I've become obsessed checking my report every day waiting for it to update!!
    Funny, I used to avoid my credit report like the plague and now I'm obsessed with it.
     :D me too!
    It's more a curiosity to see whether they'll bump up my offers when my score is so high; i'm moving to the position that even the score are tosh: mines 989 and yet my BT offers are practically zero, apart from my current provider. I think it shows how much salary & past credit utilisation matters, not just payment history. 

    Still, i'll post up any changes in June; the next will be 10th when my mse credit club updates.

    Considering paying £180 up front for an i-phone 7. New handset will give me 500x5000x5000 for £8.99 pm with tesco which will be just £1.49 more for what i'm paying for a 9yo samsung handset with a keypad😂😂😂 I do need a new handset (something 21st century; i'm 1G going to 4G, lol). Paying more up front will keep the dds down.
    Admin for Tilly Tidy to £1825 DFW challenge: 2021
    Rolling Total for 2021: £970
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