Pay for the future and not the past

Loveactually

Wow impressive in that time

MissRikkiC

Good Morning for those reading along. 

I've been pretty AWOL since last Thursday, last minute changed to childcare arrangements meant i took Thursday off so had a 4 day weekend. Although it really doesn't feel like that!

I was pleased to be able to clear off CC#1 on Friday, the interest was finally applied (all £3 of it...) and i paid it off. 

It had initially been my plan to have done that by the end of August so to clear it by the 9th July, not even using payday at the end of the month was just fantastic and 100% as a result of sticking around here for the past weeks. The idea of having an environment around you who want the same as you really is the key to success. I've found that before in various different things bit certainly was proven to be true in the case of clearing my CC. Thank you all for encouragement. 

In other news, my garden fence arrived Friday and i spent all of Saturday and some of yesterday erecting it. I have the last 3rd to complete this weekend coming but will probably take a bit longer as its a bit more complex! Hub had jab#1 and so wasn't much use at all, instead he just kept me well fed which i was grateful for. 

This morning my washing line has fallen down (the retractable bit isnt staying where i need it to now) which is quite typical of my house, i fix something and something else breaks! So probably will get a spinny thing instead. 

Hubs last weekly pay cheese went to shiz Friday but thankfully we are just scraping the barrel of not being at zero for now. 

Accounts all up to date this morning except a paypal entry which seems to have gone through as i think is showing as cleared from my balance yet not actually listed.. its not in pending either so that'll probably show up tomorrow and leave my bac at square 1 finding the misc other amount of money. Does anyone else ever find this?

Ill be off for now, but have ALOT of posts to catch up on so ill still be lurking!

MissRikkiC

A question for those who have been here longer and know what theyre doing.....

My 2nd CC is 0% until August 2022 - My loan is 3.5%

Would it be better to pay over on the loan (therefore reducing slightly the time it will take to clear) and keep minimum on the CC but shift the balance again to another 0% come next August

Or pay over on the CC to clear it off as soon as possible?

Im confident i would be able to shift the balance next year if there was some left.

TIA 

DrCarrie

MissRikkiC said:

A question for those who have been here longer and know what theyre doing.....

My 2nd CC is 0% until August 2022 - My loan is 3.5%

Would it be better to pay over on the loan (therefore reducing slightly the time it will take to clear) and keep minimum on the CC but shift the balance again to another 0% come next August

Or pay over on the CC to clear it off as soon as possible?

Im confident i would be able to shift the balance next year if there was some left.

TIA 

Have you looked at a snowball calculator for that? But if you are sure you can pay odd the CC when you clear the loan...do that. 

CRANKY40

Snowball it - that might help. 

https://www.lemonfool.co.uk/financecalculators/snowball-calculator.php

MissRikkiC

Thanks both - i looked. Basically chuck everything at the CC so thats my plan. 

Loveactually

You will see that CC gone in no time. All the best

Blackcats

Well done on clearing credit card 1 ahead of schedule - that's fantastic progress.  

Credit card 2 balance means each £38.40 you pay equals 1% paid off.  I use a 100 square grid and colour in each % I pay.  Actually I have been really artistic for my latest challenge and drawn a sweetie jar with 100 circles in for colouring in 🤩

anjyeah

Congratulations on clearing CC1! I agree with you lurking around here is the best decision I made and definitely the reason why we progressed the way we did. 

Now off to the next set goals!

MissRikkiC

Blackcats said:

Well done on clearing credit card 1 ahead of schedule - that's fantastic progress.  

Credit card 2 balance means each £38.40 you pay equals 1% paid off.  I use a 100 square grid and colour in each % I pay.  Actually I have been really artistic for my latest challenge and drawn a sweetie jar with 100 circles in for colouring in 🤩

I really like this idea, i am quite a visual person so it could work. That said i am really impatient too so i might have to double the amount and make it 50 squares for coloring in!