Damsel in Debt

bekah89

savingholmes said:

If you go to profile ( bottom right on phone) you get to settings on the left there should then be a signature option. Pick it, write it, save it and it should then appear.

Good luck with your plans.  Can you scale back your spending plans for while you are away? Very difficult to make headway when you are spending on a card still... 

Thank you I managed to do it!

I am planning to spend as little as possible 150 will be the absolute max probably quite a bit less, I will only need to spend money on food/drink so will be careful how I spend it. I figured my overtime will cover it all, and its the first time away in over 2 years so I'm allowing myself a little treat before I properly knuckle down with this in January! 

savingholmes

I can relate to wanting to go away after feeling trapped at home for such a long time

bekah89

savingholmes said:

I can relate to wanting to go away after feeling trapped at home for such a long time

Yes it’s definitely good to get away once in a while! 

capuchin

@enthusiasticsaver Surely if debt can be kept @ 0%, LISA saving is a more efficient way of working than paying off faster. The danger comes in not having a contingency if the 0%'s all fail, but still @ 25%/annum interest, a LISA is likely to be more efficient even if you have to take the hit for a few months?

@bekah89 I can totally relate to wanting to go away after being stuck home alone and isolated! My plan is to drive the North Coast 500 (first trip 'alone') and potentially just sleep in the car most nights. If you drive, you can do little trips like this almost free (car rental costs + air mattress + food) and it's really liberating.

enthusiasticsaver

capuchin said:

@enthusiasticsaver Surely if debt can be kept @ 0%, LISA saving is a more efficient way of working than paying off faster. The danger comes in not having a contingency if the 0%'s all fail, but still @ 25%/annum interest, a LISA is likely to be more efficient even if you have to take the hit for a few months?

@bekah89 I can totally relate to wanting to go away after being stuck home alone and isolated! My plan is to drive the North Coast 500 (first trip 'alone') and potentially just sleep in the car most nights. If you drive, you can do little trips like this almost free (car rental costs + air mattress + food) and it's really liberating.

If there is a contingency plan for when the 0% deals disappear then I don’t think it is a bad idea to continue saving in a LISA. It would take more than a few months though to repay in this case though as there doesn’t appear to be any savings and most rates on credit cards are way higher than 25% and unfortunately it doesn’t take long for debt to escalate when the deals are no longer available. Most debt advisors would recommend clearing debt before saving beyond an emergency fund although I think a more balanced view is needed if the debt is under control and either income high enough to clear it in a very short time if needed or assets which can be liquidated quickly like investments or a car.