Time to start a Fresh part 2, 2022!

gymgirl11

Hi Jade. Here's hoping you find out about Sainsburys soon

In terms of debt, I know it's all about preference, but you could consider using your Feb lot of Sainsburys to pay off your Aqua card and then your March to pay off Vanquis.

You'll then have a bit of your Feb & March Sainsburys put into an emergency fund  

Once those two are gone you can then tackle your 118 Money one.

BlueJ94

gymgirl11 said:

Hi Jade. Here's hoping you find out about Sainsburys soon

In terms of debt, I know it's all about preference, but you could consider using your Feb lot of Sainsburys to pay off your Aqua card and then your March to pay off Vanquis.

You'll then have a bit of your Feb & March Sainsburys put into an emergency fund  

Once those two are gone you can then tackle your 118 Money one.

Hey!

I hear what you're saying, if I was 10000% sure id still be working for sainsburys after March I would do it exactly the way you said. But due to not knowing yet I think it will be more manageable for me to pay the higher debt first as that way if I don't get kept on at sainsburys I know most of the biggest debt is cleared and I can plod along with the smaller ones. Whereas if I did it vice versa I'd be paying my bigger debt for longer if that makes sense? It's literally all down to what Sainsburys end up saying. I know they've advertised they need more shoppers as they've got two more delivery vans so here's hoping! 

enthusiasticsaver

jadewest94 said:

EssexHebridean said:

Best tip I can offer you on car finance would be to get something a little less "snazzy" than an Audi TT - that'll reduce your insurance costs too!  

insurance isn't too bad actually, it's around £55

Is that £55 for the year?  Surely not unless that is third party, fire and theft? Prices of used cars are through the roof at the moment.  My DH is looking to change his but our local dealer who normally sources our cars says they are all very expensive.  Audis are more expensive than most not only to buy but also maintain. 

badmemory

The next vehicle problem we are going to hit is the van usage in areas like greater Manchester, which will cost every day they move, even if they are just doing the shopping.  I suspect that many of these may wherever possible be replaced by estate cars etc.  It is probably cheaper to keep 2 vehicles one of which is only used at the begininning & end of a job & the other during the job than to use just the one.  There are a lot of vans where I live so I expect parking is going to be even more of an issue than it is now.

BlueJ94

enthusiasticsaver said:

jadewest94 said:

EssexHebridean said:

Best tip I can offer you on car finance would be to get something a little less "snazzy" than an Audi TT - that'll reduce your insurance costs too!  

insurance isn't too bad actually, it's around £55

Is that £55 for the year?  Surely not unless that is third party, fire and theft? Prices of used cars are through the roof at the moment.  My DH is looking to change his but our local dealer who normally sources our cars says they are all very expensive.  Audis are more expensive than most not only to buy but also maintain. 

I wish, its £55 a month 

EssexHebridean

jadewest94 said:

EssexHebridean said:

That's surprisingly budget! 

What do you mean sorry? 

That's a surprisingly budget cost for insurance on a car of that type - I'd have expected just the "Audi" part putting it through the roof!  

I do see your point about the 118, but allowing for what you'd have to pay off *somewhere*, I'd be inclined to make cheeky F&F 25% offers to Vanquis, SafetyNet and Five Lamps instead. they might not accept - but it would get them thinking - and anyway if they don't then you can still chuck the money at 118 anyway if they do all decline, but if they were to say yes, that would then be three monthly payments you could immediately start stashing against a future F&F to Likely. I believe I'm right in thinking that you have also not long had a F&F offer turned down by Vanquis - it might be worth checking if you'll do yourself any favours by still paying a lump off in spite of them rejecting your offer?  My gut feeling is that if by turning you down they still get a lump paid off anyway, it won't encourage them to want to meet any future F&F's you might offer? 

BlueJ94

EssexHebridean said:

jadewest94 said:

EssexHebridean said:

That's surprisingly budget! 

What do you mean sorry? 

That's a surprisingly budget cost for insurance on a car of that type - I'd have expected just the "Audi" part putting it through the roof!  

I do see your point about the 118, but allowing for what you'd have to pay off *somewhere*, I'd be inclined to make cheeky F&F 25% offers to Vanquis, SafetyNet and Five Lamps instead. they might not accept - but it would get them thinking - and anyway if they don't then you can still chuck the money at 118 anyway if they do all decline, but if they were to say yes, that would then be three monthly payments you could immediately start stashing against a future F&F to Likely. I believe I'm right in thinking that you have also not long had a F&F offer turned down by Vanquis - it might be worth checking if you'll do yourself any favours by still paying a lump off in spite of them rejecting your offer?  My gut feeling is that if by turning you down they still get a lump paid off anyway, it won't encourage them to want to meet any future F&F's you might offer? 

Oh I see! Haha yeah people expect me to say I pay over £100pm on insurance whereas it's cheap, in June it goes down to £42

Oh that's a good idea, maybe I'll get that sorted out on my lunch. Also, no it was 118 who wouldn't go lower than 25% so I refused and said I'll just stick to my agreed payment plan for the time being as its basically more than a whole month's wage they wanted in one payment. 

EssexHebridean

On that basis I would personally definitely NOT throw anything extra at it for the time being in that case. 

I tell you what you COULD do with those two months money from Sainsburys though if you didn't want to clear the other debts - pay your car insurance upfront as a lump-sum. It'll be cheaper anyway that way, and you'll then be able to stash a smaller amount than you are paying monthly towards next years cover too, freeing up more money for stashing towards debt repayments down the line... (I know, all these alternative ideas are just muddying the waters, aren't they - bigger picture though, it's always useful!)  

BlueJ94

EssexHebridean said:

On that basis I would personally definitely NOT throw anything extra at it for the time being in that case. 

I tell you what you COULD do with those two months money from Sainsburys though if you didn't want to clear the other debts - pay your car insurance upfront as a lump-sum. It'll be cheaper anyway that way, and you'll then be able to stash a smaller amount than you are paying monthly towards next years cover too, freeing up more money for stashing towards debt repayments down the line... (I know, all these alternative ideas are just muddying the waters, aren't they - bigger picture though, it's always useful!)  

Hmm, I see what you're saying. I'll have to think on it as the biggest debt is basically half my overall debt. Ideally I want to get rid of my debts ASAP.

I'll offer F&Fs today and go from there. Wait until payday and make my mind up hopefully Thursday we should know about Sainsburys, so when I find out I should have a clearer picture in the long run

EssexHebridean

Fingers crossed for the F&F's - you never know unless you ask - and remember, £800 used to clear 3 debts totalling £1400 by making F&F's is more effective that £800 paid off a single larger debt as  a simple lumpsum payment. (And in fact if the first three accepted at 25% you'd be able to immediately F&F Likely on the same basis wouldn't you, and still have change!)  

Wishing you luck!