£50 has come through from my dad today, so I’ve paid the post office card monthly payment of £14.70. I’m going to pay £25.30 to the tappily balance as well, leaving the remaining £10 for food for the rest of the month so I won’t have to use any more credit just yet
Just looked at tappily & plugged the daily interest rate into a compound interest rate calculator - does 245% sound right?! I have everything crossed for you that you can get that extra income soon to send them packing!
So £150 has come through from the universal credit advance. I have realised I do need to go shopping for some bits and pieces (cleaning products etc) for the flat, so I’ve kept back £50 for now and paid off £100 of my tappily balance, leaving the balance currently at £68.94
So it is nearly payday and I dont need to spend anything between now and then. So I have paid everything left in my bank account to the tappily balance, which leaves the remaining balance on their as £25.84.
Almost cleared the first debt, keep at it you will get there.
Well not really, because they took out a new loan with UC. Although I do agree that swapping out high interest with low interest debt is positive in the long run, but only if the original debt stays low/gone. Hopefully EmilyDiary can keep the Tappily balance down in September and then write it off. We are all rooting for you ED, it’s early days but hoping for good news on the bar work too.
Debt Free 🍾 since 6.8.13 £31,997
Saving for🎄Xmas ☃️ 🎁 2023 £72/£365 19%
6 mth 🆘 fund £6k
Mortgage offset fund £11k/£110.2K
It turns out the answer to my problems wasn’t at the bottom of this tub of icecream, 🍨 but the important thing is that I tried...
So it is payday today, so this is what is happening.
I actually got paid more than I expected, which is odd as I am salaried and it is usually the same each month. I am not complaining of course, and I wonder if it is just that tax and NI changes have sort of fallen in my favour. I usually expect £1460, this month I got paid £1489.98.
This is what has been paid today:
Pet insurance £6.03 Rent: £625.00 Bamboo loan: £69.10 Zable credit card: £17.50 Vanquis credit card: £10.00 Aqua credit card : £92.44 (this is lower than it would usually be due to excess payments I had made before the last statement reducing the required payment for this payday) Ocean credit card: £25.32 Zopa credit card: £15.94 Paypal credit: £36.70 Water: £9.91 (the full balance on the account currently) Tappily: £26.00
I've also paid for my medication for the month. I actually have two months worth of one of the medications (the least important one) already, so I've managed to reduce the three month supply I bought today to £104.64 which is really handy.
This is what is still left to pay:
Internet: £30.00 Gender service subscription: £30.00 Stepchange payments: tbc - will speak to creditors directly on this but I will assume approximately £60. I'll break it down properly once I've done this. Gas: £20.00 Council tax: £126.00 Laser treatment: £70.00
This is the debt that is left after todays payments:
So I've paid the minimum on all the cards, the post office one was already paid earlier in the month when Dad sent me £50, and I cancelled some direct debits. The water one shouldn't need to be set back up now for another five months. I'll have to set the electric one back up before next payday but I wanted some wiggle room this month.
So based on all that I have £115.40 to spend on food and cat stuff for the month. I'll probably have to use a little credit if I can't get through, but the good news is I won't have to add anything on to the tappily account which is high interest.
This will be an expensive weekend though. I have a friend coming to visit and we are going to my city's pride celebration. We have already purchased the tickets but will need drink and food for the weekend. I'll try and keep a running total of how much that ends up being and try as hard as I can to get through to next pay day with minimal credit used.
The other plus point is that it is my birthday in a couple of weeks and I might get a little money from my Dad for this too. However, I'll probably also end up spending money to go do something as it's a big birthday and I didn't do anything for the last two years due to covid so I really do want to do something.
Replies
Although I do agree that swapping out high interest with low interest debt is positive in the long run, but only if the original debt stays low/gone.
Hopefully EmilyDiary can keep the Tappily balance down in September and then write it off.
We are all rooting for you ED, it’s early days but hoping for good news on the bar work too.
I actually got paid more than I expected, which is odd as I am salaried and it is usually the same each month. I am not complaining of course, and I wonder if it is just that tax and NI changes have sort of fallen in my favour. I usually expect £1460, this month I got paid £1489.98.
This is what has been paid today:
Pet insurance £6.03
Rent: £625.00
Bamboo loan: £69.10
Zable credit card: £17.50
Vanquis credit card: £10.00
Aqua credit card : £92.44 (this is lower than it would usually be due to excess payments I had made before the last statement reducing the required payment for this payday)
Ocean credit card: £25.32
Zopa credit card: £15.94
Paypal credit: £36.70
Water: £9.91 (the full balance on the account currently)
Tappily: £26.00
I've also paid for my medication for the month. I actually have two months worth of one of the medications (the least important one) already, so I've managed to reduce the three month supply I bought today to £104.64 which is really handy.
This is what is still left to pay:
Internet: £30.00
Gender service subscription: £30.00
Stepchange payments: tbc - will speak to creditors directly on this but I will assume approximately £60. I'll break it down properly once I've done this.
Gas: £20.00
Council tax: £126.00
Laser treatment: £70.00
This is the debt that is left after todays payments:
Zable credit card: £341.13
Vanquis credit card: £138.98
Bamboo loan: £967.31
Aqua credit card: £2338.72
Ocean credit card: £469.07
Zopa credit card: £383.67
Paypal credit: £874.93
Stepchange: £834.05
Post office credit card: £290.56
Total debt: £6638.42
So I've paid the minimum on all the cards, the post office one was already paid earlier in the month when Dad sent me £50, and I cancelled some direct debits. The water one shouldn't need to be set back up now for another five months. I'll have to set the electric one back up before next payday but I wanted some wiggle room this month.
So based on all that I have £115.40 to spend on food and cat stuff for the month. I'll probably have to use a little credit if I can't get through, but the good news is I won't have to add anything on to the tappily account which is high interest.
This will be an expensive weekend though. I have a friend coming to visit and we are going to my city's pride celebration. We have already purchased the tickets but will need drink and food for the weekend. I'll try and keep a running total of how much that ends up being and try as hard as I can to get through to next pay day with minimal credit used.
The other plus point is that it is my birthday in a couple of weeks and I might get a little money from my Dad for this too. However, I'll probably also end up spending money to go do something as it's a big birthday and I didn't do anything for the last two years due to covid so I really do want to do something.