Washing Away My Debts By 2024

Squirrelz92

LittleMissDetermined said:

If you can hold back the funds instead of paying off the holiday I think that would be sensible. At least you know your extra salary can sort that out next month 
LMD x

I am definitely starting to think that this would be a much more sensible option given my circumstances and trying to juggle paydays @LittleMissDetermined

cybertortoise said:

Hi @Squirrelz92 I'm subscribing to your diary, you seem to have some great ideas so I'll go back and have a read. I can't guarantee I'll read all 33 pages though! Good job on doing so well in a few short months

Morning @cybertoise and many thanks for subscribing. It means a lot knowing that perhaps some of my ideas may help someone else out. I have learned so much from this DF wannabe group. I will be amazed if you end up reading from start to finish! It's a lot of pages! Means a lot to me 🥰

Not much planned today other than work! £145 was received this morning for child benefit and with nothing outstanding to come out or to be bought (touch wood), I may end up on pay day eve with a balance of around £150 I would throw this at my debt but I think I may end up squirreling some away to my EF because of me now wanting to be cautious with meeting my November bill payments whilst waiting to be paid from the new job.

The horse is being taken off to the vets tomorrow afternoon for her big operation so I decided to keep her in today. The farrier is coming to do her shoes today and I have been saving £13.33 each week to cover this in the 'farrier' pot so all is well there Shall be a nervous wreck this week not knowing how successful it has been and what state she is going to come home in. Intend on setting her up with a very big fluffy bed to settle into as she will be on box rest for a good few weeks before being allowed out to walk around a little. 

£1 PAD made to the CC2 pot, 4 days until payday 🎉🎉

LittleMissDetermined

You're doing well with your pots, I don't have things like that to pay for really, except my annual car and home insurance which I just pay in that month and miss adding any to savings.  The benefits of being old is that my car insurance is £155 for the year   
LMD x

Squirrelz92

LittleMissDetermined said:

You're doing well with your pots, I don't have things like that to pay for really, except my annual car and home insurance which I just pay in that month and miss adding any to savings.  The benefits of being old is that my car insurance is £155 for the year   
LMD x

Thank you! I have an awful lot of pots but they all have their own purpose and it makes things so much less stressful for me knowing that when something is due to be paid, its already there ready and waiting. I used to panic and always dread opening my online banking never knowing if I actually had the funds to pay for things like my dogs groom or my horses shoes etc. No idea how I managed before banks such as St@rling came about! 

Wow what I would give for my insurance to cost that! I am still paying roughly £370 a year

Squirrelz92

Afternoon folks,

Have been regularly checking both my Tesc0 online banking and my Virgin CC account to see if the balance has transferred from one to the other after submitting the request on Saturday. It finally has and my balance for Virgin CC2 is now £0. I plan on keeping this card open until Jan 2023 which is when the 0% interest runs out as the larger overall amount of credit available to myself should go in my favour for my credit score. CC2 on my signature and on my period financial updates here will now become Tesc0 for the rest of my DF journey  

It sucks that the balance will be jumping up by around £1000 once I have been invoiced for the horses operation but is it what it is. Determined to clear it as quickly as possible.

I am toying with the options of now either overpaying on my DWP debt or my CC1 debt. CC1 0% interest runs out March 2023 and my DWP will forever be 0%. It is a smaller balance however than CC1 and clearing it would free up £31.94 to then snowball into CC1 before requesting for a new 0% interest card to replace the remaining balance in February. What are everyone's thoughts on this?

My usual PAD of £1 went into the CC2 pot today. Also need to decide where this overpayment amount is going to go... DWP or to CC1?

Three days until payday!

SusieT

Personally I would pay it to the card, if you can hit that hard to get it to the next £'000 down it will be less to transfer to another 0% card, plus we have no idea what is going to happen before march with interest rates and card issuers attitude to offers, so it is not 100% sure that you would get another 0% or they may only give one at an amount lower than you need, so the less on there the safer you are. DWP will wait until later. 

Squirrelz92

That's a really good point @SusieT. I never thought of it like that. With my DWP being 100% interest free for as long as it takes for me to pay off, it is an entirely safe amount to pay off as and when.

Once I start my new position and readjust my finances to suit my altered income, I am hoping that I will have a few hundred extra a month (if very careful) to throw towards CC1. There is no way I will be able to clear it in time for the end of March with the current balance but I will try my hardest to get it into the 1k's instead of the 2k's where it is now.

LittleMissDetermined

Agree with @SusieT, if the DWP Is unlimited time at interest free that’s the least priority 

abaka

Just catching up after what feels like a lifetime.

I would pay more of the credit card as the payment for the Dwp debt is fixed and agreed.  Reducing the CC debt will help unlock better offers for future transfers etc

Squirrelz92

Many thanks for your input on my overpayment query @SusieT, @LittleMissDetermined and @abaka. I have decided to listen to you all and continue to pay off CC2

Not much to report on the financial front today other than another PAD of £1 made to the CC2 pot. Excited to post this period's debt updates as it feels so long ago that I did the last even though it has only been four weeks!

My horse is having her surgery at 12pm today I will be a nervous wreck all day waiting for the surgeon to ring me once she is finished. My main vet rang me last night to go over everything once more which was nice of her. She told me that after retaking X-rays of her spine, it has been confirmed that she has one of the most chronic conditions of kissing spine they have seen so unfortunately it means that they will have to perform a slightly longer surgery to chip away more of the vertebrae than normal in order for her to have the best chance of 100% recovery from the condition. Her rehab time will also be extended because of this which doesn't surprise me. She is a tough cookie so I know she will be ok. They said that the total bill will be around £2500 and of this is am responsible for paying for 13% plus livery as this isn't included in the insurance. I am looking at around an extra £420 to be added to my current vet bill of £800ish. Once the insurance has paid off this last lot, I will pay off the full invoice using CC2 and then I can start hammering this debt as much as possible. 

LittleMissDetermined

I hope all goes well with your horse today, try not to stress too much (easier said than done, I know) the professionals know what they're doing and she will be in good hands. 
LMD x