Is there anyone out there...?

Sarahwithlove

I agree as long as you rest goes on the CC then it's a quick win for you and one less debt. 

alt80

100% mate clear it off the one with highest interest - no reason to pay back more than you need to. 

Have you got any 0% purchase cards? Could put work expenses on that and clear off the interest baring cards win win.

MrDFby40

Thanks guys! Slept well last night, which is unusual for me! Only woke up once at 2am then got straight back to sleep and woke up at 5.30! First thing I did (as always) was to check my bank and my expenses have been paid immediately, so I cleared off the Next account this morning (thank you guys for confirming what I was thinking) and feel amped that this has gone!!!  Although having looked at the credit club site thoroughly should I close it straight away?  I won't use it, I have a strong determination now.  It looks almost like I should keep it open to improve my "credit utilisation"?  I have an orange sad face there right now!  Again - appreciate some thoughts on this.

Am a bit pi**ed off though because the Tesco online banking app isn't working so I can't go in and pay the remaining £324.67 off my Tesco card immediately. Funny that I would have seen that as "free cash" previously but now I can't wait to get rid of it! haha!

I've updated my signature, although when I logged into the credit club I realised my sofas had more on them than I thought! I thought I'd financed £500 but then I realised I paid £500 deposit and financed the remainder on 0%. So feel like my debt has gone up rather than down!  But I know that's not really the case, it's just being able to see it all in front of me.  I've certainly not spent any more.  Statements for cards are now due 14th Feb, 15th Feb and 24th Feb and am waiting impatiently for them so I can check and update again.

@alt80 - good to see you buddy, I don't have any 0% purchase cards, I rarely have to buy things for work as it's normally on account somewhere, this was a bit of an out of the ordinary, but I do like this idea.

I've had my first coffee of the day so am going to get up, chuck on a suit and get to work   I know you guys aren't "real" people but I do feel so much better having someone to "talk" to and bounce my plans off.  Have a good day everyone!

DancingInTheRain

Well done on clearing the Next balance. I'm another one annoyed that the Tesco banking app is down today, don't they know I like to double check my accounts while having my morning cuppa? 🤣
Good luck on your debt free journey, looks like you're very focused and determined 💪

Toni'sfriend

Hello

Isn't it good to see that Next paid off? I know there's still a way to go but just to tick one off is so motivating. Concentrate on another one and watch it go. Honestly, it just feels so good. You will get there. xxx

enthusiasticsaver

Getting rid of one is good.  I am not really an advocate of keeping cards open to reduce credit utilisation rates  in case people are tempted to see zero balance cards as an invitation to spend.  I also am sceptical that you gain an advantage from a lower credit utilisation rate but as all credit card companies score differently I cannot say that with any certainty.  If you think you may spend on the Next card again if you don't close it then I would go ahead and close it.  If you think you have the discipline not to do that just put it away until you start getting some 0% BT offers and close it when the debt is lower. 

MrDFby40

Evening all!

@DancingInTheRain - It's my morning routine!  Check all banks etc, update spreadsheets with a coffee in bed!
@Toni'sfriend - Thanks for dropping by! It does feel good to have paid it off, can't wait for my account to update so I can see the zero on my statement. 
@enthusiasticsaver - I was taking the advice from the credit club website, but I was also kind of skeptical. It's having the app on my phone which makes it so easy to fall back on, I will delete it once I have confirmed my account is cleared and cut up my card.  I can be one pretty determined guy when I want to be so I'm pretty sure I can stick to my guns on this one!  I'll give it a few months and see what my Credit Club report looks like and make a decision then.

Apparently my maths was pretty poor at silly o'clock this morning when I updated my signature so I have given it another go and feel a bit better that it's £500 less rather than the £50 I had on there this morning the best news of all though is that this balance transfer has knocked a couple of months off my DFD.

I need to start thinking about my emergency fund and where to put it.  I use the Yolt app and have a Yolt account thing that I have used as a "sweeping" account where I've put the remainder of my shopping budget from last week, so I think I will stash it there for now.  In which case, I currently have £8.10 in my EF!

MrFrugalFever

I had a Tandem Bank Savings account which was 0.75% AER and NatWest are doing instant access savings at 3% APR on balances up to £1,000 with max deposit of £50 per month, think it’s existing customers only though.

bizarrely, my igloo energy supplier pays 3% on balances up to £1,000 with interest paid monthly, I treat that as a savings account too. At the moment I am restricted to what I can save but will soon have my shackles released, hopefully just in time for these pitiful rates to increase!

findingthisdifficult

MrDFby40 said:

I've had my first coffee of the day so am going to get up, chuck on a suit and get to work   I know you guys aren't "real" people but I do feel so much better having someone to "talk" to and bounce my plans off.  Have a good day everyone!

  Lol, we are real people and even better than that we understand the journey you are on.
We are here for you to bounce ideas off, we'll soon put you on the straight and narrow if we think you're making a mistake.

Glad to see your BT shaved a couple months off your DFD - it's true when they say 'every little helps, even the pennies add up to pounds'

alt80

Ha re the ‘real people’ thing - 100 I get that not gonna lie I do like the anonymity of the forum has made me really think about my choices and interesting to see other’s POVs, lots of people on here that are likely to have a different life experience to you. I find in the ‘real world’ you tend to mix with people like you and you’re lifestyle becomes ‘normal’ to you even if it is self destructive. Think your debt probably more circumstantial tbh rather than self destructive behaviour and probably less of a mindset issue for you but same applies - you should be able to learn something from people with some different life experiences who you probably wouldn’t mix with in ‘real life’.

0% purchase and clear your high interest debts. Probably worth looking into - if you can put your day to day on 0% and clear the same amount off the interest baring debts you could be better off iyswim.

Yolt - I used to use that when I started on the debt diary. Good until recently but mine just seems full of ads, pisses me off so I just use excel. I don’t analyse every single spend on things like food etc personally - I have a variable target for the month and assess against that. Some on here seem very strict with pots etc. I can’t be dealing with 20p or £2.47 - round everything to nearest £5. That’s just me probably idk but works fine imo.