Time to Face The Music

Sun_Addict

Our direct debit amount hasn't changed yet, although I suspect this is because we are still in credit. I was also thinking of making extra payments to keep on top of it so it doesn't go in debit.

joedenise

I've upped my direct debit by £55 a month over what the power company has suggested so I can build up plenty of credit before the next big jump in October.  I've got a review end of June so will be able to see where we stand then and decide whether it will be too much or not enough!

ladyholly

Its just a thought but instead of paying extra to your utility company would it be better to put in into a serparate savings account so you get some ineterest. I know the rates are terrible at the moment but even a penny or two helps and why should you inflate the coffers of the companies.

RelievedSheff

ladyholly said:

Its just a thought but instead of paying extra to your utility company would it be better to put in into a serparate savings account so you get some ineterest. I know the rates are terrible at the moment but even a penny or two helps and why should you inflate the coffers of the companies.

I know what you are saying but I would rather the money was put somewhere that we don't have access to it.

We are terrible with savings. Although we are trying to change that.

I would rather the money was in the energy account ready for when we will need it over winter.

ladyholly

RelievedSheff said:

ladyholly said:

Its just a thought but instead of paying extra to your utility company would it be better to put in into a serparate savings account so you get some ineterest. I know the rates are terrible at the moment but even a penny or two helps and why should you inflate the coffers of the companies.

I know what you are saying but I would rather the money was put somewhere that we don't have access to it.

We are terrible with savings. Although we are trying to change that.

I would rather the money was in the energy account ready for when we will need it over winter.

Fair enough it was just a thought as personally I hate giving money to companies when I dont have to.

EssexHebridean

I’m with you ladyholly - but this is definitely a method that ONLY works if you a) have an emergency fund in place and b) can100% trust yourself not to dip into the amounts saved. If one or both of those things don’t apply then it is without question safer to send the extra straight to the energy account. I set up a savings account a fair few months ago now and labelled it “Electricity buffer fund” - it’s been getting £50 a month since, and will get the Council Tax rebate when that lands paid across to it as well. I’m hoping our supplier won’t want to increase our DD at the moment as we came out of the winter in credit - I’d sooner handle the extra payments as needed myself than have to see an increased amount going straight to them each month. 

RelievedSheff

£200 sent to Card 4 today which sees the balance in that card cleared. Other than that it is a no spends day.

Breakfast, lunch and dinner will be from stores. Breakfast was crumpets, we have both taken our packed lunches to work and dinner tonight is lamb and mint pie with mustard mashed potato and parsnip and vegetables.

I am at the doctors again tonight to hopefully have my implant changed. So we have an quick and easy dinner. 

Tonight's jobs are:

• load of washing (which should hopefully be dry when we get home)
• cleaning the kitchen
• walking the dog

RelievedSheff

Balances Update 26.04.22

 

Furniture Loan = £0 (Account Settled)

HP Car Loan = £0 (Account Settled)

 

Debt 1 = £0 (Account Settled)

 

Credit Card 1 =£0 (Account Closed)

Credit Card 2 = £0 (Account Closed)

Credit Card 3 = £0 (Account Closed)

Credit Card 4 = £0

 

Credit Card 5 = £392 (£150 repayment 0% interest until July 2022)

Credit Card 6 = £2300 (£100 repayment 0% interest until August 2022)

Credit Card 7 = £9300 (£200 repayment 0% interest until November 2023)

 

HP Motorhome Loan = £18872(£393 repayment final payment April 2026)

 

Paypal Credit = £264 (£125 repayment 0% interest until December 2022)

 

Total Debt = £31128

LittleMissDetermined

Congrats on clearing card 4!

RelievedSheff

LittleMissDetermined said:

Congrats on clearing card 4!

Thank you.

Paypal credit and Card 5 next on the hit list. Will get those cleared in the next couple of months.