Admitting I have problem debt...

Sam_X_10

EssexHebridean said:

 Sam_X_10 said:

Sncjw said:

Can your wife claim back any costs of petrol from her job? 

Yes, she does. She gets 53p per mile. 
 She tells me it's 90quid to fill her tank as it's diesel. She gets between 90 and 120 quid back per month, it's paid in a month in arrears and it's included in her wage payment. 

No - the maths don't work on this, for me. £120 in mileage payments would indicate 230-ish miles a month being claimed. With a diesel she should be getting at least 55mpg - even assuming that a lot of her driving is short hops (and on that basis, she's probably heading for trouble having a diesel at all unless she also does a balance of long runs at speed to clear the DPF). 230-ish miles is less than half a tank, in her car, so definitely doesn't equate to the £300p/m on fuel? The amount she is paid should cover the cost of the fuel and contribute to the depreciation - you are currently showing a shortfall just on the fuel. 

So, I'm obviously going off what my wife is telling me at the moment before we sit down with our finances. 
She travels 45mins each way to and from work 5 days a week which isn't covered in the mileage expenses she can claim back.  

Sam_X_10

kimwp said:

Sam_X_10 said:

Sncjw said:

Can your wife claim back any costs of petrol from her job? 

Yes, she does. She gets 53p per mile. 
 She tells me it's 90quid to fill her tank as it's diesel. She gets between 90 and 120 quid back per month, it's paid in a month in arrears and it's included in her wage payment. 

Have you included that in your SOA? 

Yes, that's included in her monthly wage on the SOA. Along with the 300pm on fuel. 

Sam_X_10

Good news in that I have sold my Nintendo Switch for £175 and my bike for £200. It's a great start, and is giving me the encouragement to continue...😁

stymied

Well done, that’s a nice chunk of the Barclaycard paid off!

What’s the limit on your Virgin CC & is the 0% on spending or just the balance transferred to the card?

Martico

Sam_X_10 said:

Good news in that I have sold my Nintendo Switch for £175 and my bike for £200. It's a great start, and is giving me the encouragement to continue...😁

That's a great start!

Sam_X_10

stymied said:

Well done, that’s a nice chunk of the Barclaycard paid off!

What’s the limit on your Virgin CC & is the 0% on spending or just the balance transferred to the card?

£9700 is what I owe, the limit is 10,000. It's just the transferred balance that's 0% 

Martico

Virgin's a tricky one - great on a 0% when you have other cards to stress about, as the min payment is only 1% of the total. But that low min works against you once the promotional period ends and the high interest rate kicks in. Keep an eye on the end date of that promotion

kimwp

Sam_X_10 said:

stymied said:

Well done, that’s a nice chunk of the Barclaycard paid off!

What’s the limit on your Virgin CC & is the 0% on spending or just the balance transferred to the card?

£9700 is what I owe, the limit is 10,000. It's just the transferred balance that's 0% 

Nice one on raising some money! 

It would be good if you split out the virgin (and any other where there are split balances) into the different amounts with the different interest rates - then you can see which to focus on.

(Thanks re your earlier message about the fuel reimbursement being in your wife's income. I can see with a 45 min commute that fuel cost additional to the fuel needed for work could be quite significant, which I think was EH's point.)

Sam_X_10

Martico said:

Virgin's a tricky one - great on a 0% when you have other cards to stress about, as the min payment is only 1% of the total. But that low min works against you once the promotional period ends and the high interest rate kicks in. Keep an eye on the end date of that promotion

Will do thank you! It's a fairly recent one, so I've got 20 months or so left on it yet at 0%. I'll focus on the others first and foremost. With barclaycard being the first one. I know I'll feel so much better seeing that go, and it'll spur me on to keep going. 💯 

Sncjw

Make sure you still pay the minimum or slightly more because if you don't you will lose the 0 percent deal.