Third time's the charm...

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  • Self care is important - that's my excuse  ;)
  • LittleMissDetermined
    LittleMissDetermined Forumite Posts: 7,400
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    :D I’ll keep that in mind x
    Life gets in the way...PADding is addictive...Saving's better than spending...
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  • LittleMissDetermined
    LittleMissDetermined Forumite Posts: 7,400
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    edited 11 March 2021 at 8:50AM
    Another NSD planned for today, I have chicken salad in the fridge for lunch and batch cooked meal out the freezer for dinner this evening.  Managed to sort through one cupboard and one drawer last night, along with sorting through some old paperwork dating back to 2004 (Eeek).  Felt much better after I'd done it though.

    Updated my spreadsheet to include maxed out payments (close to £2k per month) until we move as once we have moved our expenses will increase.  Then the payment from the equity in the house, which will leave a £500 a month payment on 0% until the 12 month ends.  This is more than manageable and it means that the card debt isn't costing us anything in terms of interest and any remainder we have can be used to go into savings or as overpayments on the mortgage.

    I feel better for having a plan and that I'm making use of the 0% I've switched to.

    Question though - What's best to do with the cleared cards?  Do I close them, but this will impact my % utilisation and therefore my credit score... Or do I wait until ALL cards are clear and then decide which one to keep for emergencies?  I'm favouring the latter at the moment but it's confusing as I want to protect my credit score as much as possible. 

    LMD xx
    Life gets in the way...PADding is addictive...Saving's better than spending...
    2023 1p challenge #11 | Cash envelope challenge #01 | SPC #017
    Sealed pot 2024 £408.15 | EF £1000/£1000 | Sabbatical £115/£10000 | Holiday fund £250 | General Saver £3250.51
  • I'm not sure what is the best thing to do but I closed them as I paid them off and then just kept the last one open for emergencies. 

    I mean it did mean that initially while I was paying off the last card it meant that I had no real limit for any emergency but I was lucky enough that it worked out for me. 
  • RelievedSheff
    RelievedSheff Forumite Posts: 10,819
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    I have been closing our cards as they have been paid off.  I have found it works well for us as it symbolises an end to that particular debt.

    We will keep one card for emergency use only though.
  • LittleMissDetermined
    LittleMissDetermined Forumite Posts: 7,400
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    Thank you both, I think that will be what I will end up doing.  I don't want to do anything just yet in case something goes awry with the move and we end up having to resubmit any mortgage application but once we are moved in I will start to close the accounts and just keep one with a healthy credit limit for emergencies or when we want to buy something with extra protection but pay off the balance straight away.

    Thanks :)

    LMD xx
    Life gets in the way...PADding is addictive...Saving's better than spending...
    2023 1p challenge #11 | Cash envelope challenge #01 | SPC #017
    Sealed pot 2024 £408.15 | EF £1000/£1000 | Sabbatical £115/£10000 | Holiday fund £250 | General Saver £3250.51
  • Under your circumstances it might be best to keep one open but close any others with a £0 balance and then when you've paid a good amount off the other cards that could be the time to get rid? 
  • LittleMissDetermined
    LittleMissDetermined Forumite Posts: 7,400
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    Good morning and happy Friday! This week seems to have dragged a bit.

    I sorted through some more cupboards yesterday and pulled together items to sell/donate/take to the tip.  Didn't end up being a NSD as I bought some new bedding for when we move.  It was in the sale though and about a 3rd of the price of our last bedding set.  Today's grocery shopping day so isn't a NSD either, but no plans for the weekend and hubby is working so should be a cheap weekend ahead.  I have been messaging back and forth with the vendor of the new house and we are both getting really excited - we just can't help it! :D 

    Nothing more to report in terms of debts, I am pleased at the inroads I have made since £32k in July.  I only have records on my spreadsheet going back to then so this time last year it was an awful lot more!  I know that there's a hefty amount still to go but with my plans I can see a light at the end of the tunnel now. 

    LMD xx
    Life gets in the way...PADding is addictive...Saving's better than spending...
    2023 1p challenge #11 | Cash envelope challenge #01 | SPC #017
    Sealed pot 2024 £408.15 | EF £1000/£1000 | Sabbatical £115/£10000 | Holiday fund £250 | General Saver £3250.51
  • Happy Friday!
  • LittleMissDetermined
    LittleMissDetermined Forumite Posts: 7,400
    Tenth Anniversary 1,000 Posts Debt-free and Proud! Photogenic
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    Up early again today and have already done the cleaning (except vacuum due to having neighbours). 

    I rounded down my bank balance today to send £2.62 to CC1.  I now need to make sure I don't check the online cc statement as it will mess with my OCD :D  BUT, it does mean that I feel I'm doing something extra towards my debts except for the payday overpayments and regular required payments. 

    All in all, quite a productive morning already and it's only just gone 7am!  Bet I need an afternoon nanny nap.

    LMD x
    Life gets in the way...PADding is addictive...Saving's better than spending...
    2023 1p challenge #11 | Cash envelope challenge #01 | SPC #017
    Sealed pot 2024 £408.15 | EF £1000/£1000 | Sabbatical £115/£10000 | Holiday fund £250 | General Saver £3250.51
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