Time to Face The Music

Sun_Addict

Another one bites the dust, well done. 

RelievedSheff

alt80 said:

Congratulations on another one gone! 

Thank you.

Next month the payment on Credit Card 2 will be increased to £230 which will see that card paid off in February.

RelievedSheff

Balances update:

Debt 1 = £0
Credit Card 1 = £000 (£150 repayment 0% interest)
Credit Card 2 = £457 (£80 repayment 29.9% interest)
Credit Card 3 = £3370 (£300 repayment 29.9% interest)
Credit Card 4 = £5328 (£200 repayment 0% interest)
Credit Card 5 = £8131 (£150 repayment 0% interest)
HP = £3936 (£251 repayment)
Furniture Loan = £640 (£16.82 repayment)

ISA = £261 (£50 per month added)
Pennies Savings Account = £185.82 (Saved by rounding the bank balance to the nearest pound when logging on to online banking)

RelievedSheff

It will be a no spends day today.

Breakfast, lunch and dinner are from stores. Breakfast was toast, lunch will be jacket potato with chicken curry and dinner tonight is garlic chicken with tortellini and roasted root vegetables.

The other half is still furloughed so today he is going to repair a few shrinkage cracks in the hallway and get those painted. These are only minor repairs but he is starting to run out of stuff to do now!

Today's jobs include:

• working from home
• cleaning the kitchen
• dusting the house
• walking the dog 

alt80

Smashing it! Love the pennies saving account lol I tend to just work in round numbers so it’s the sort of thing I’d do. Don’t - just round balances up/ down to nearest £5 in my own records. What are you planning to do with the money - pay off a card or something else?

RelievedSheff

alt80 said:

Smashing it! Love the pennies saving account lol I tend to just work in round numbers so it’s the sort of thing I’d do. Don’t - just round balances up/ down to nearest £5 in my own records. What are you planning to do with the money - pay off a card or something else?

It will probably end up going towards the shed I think.

Once we have a couple more of these cards paid off we really need to start putting some money into the savings account each month for the boat expenses. It looks like we are going to be keeping it for next year at least, so it would be nice to have even just a little bit saved towards the mooring fees.

Sun_Addict

I do the same thing with rounding down balances and putting the money in a separate pot. Usually have at least £600 by the end of November so use it for my Christmas pot. Quite a painless way to save.

enthusiasticsaver

Great that the credit card is gone and even better in February when you can get rid of Credit Card 2 and get on to that awful credit card 3 with the 30% interest. I know Credit Card 2 is the same rate but it seems worse with the higher balances.  Saving for the boat sounds like a good idea. 

RelievedSheff

enthusiasticsaver said:

Great that the credit card is gone and even better in February when you can get rid of Credit Card 2 and get on to that awful credit card 3 with the 30% interest. I know Credit Card 2 is the same rate but it seems worse with the higher balances.  Saving for the boat sounds like a good idea. 

I am going to look at getting Card 3 onto a 0% transfer next year. Getting the remortgage sorted first though in February. 

Sarahwithlove

Be good if you can get it onto the 0% after the remortgage as will save a lot in interest at that rate!