VM Balance Transfer Offers, order of repayment.

Dandytf

t.b.h.seems average expected lifespan is 13yrs, though I understand lots of people gain extra yrs use until 'something stops working'
I'm taking Advantage of home upgrades knowing I won't have such opportunity again.
+I'll take care cover if repair or replacement is req from new cooker.
I don't mind transfer fee, it's going to be similar to clearing current rbs balance.
That's bedroom heater/installation/de install removal -paid via Debit Card.
Only Cooker to repay, should be up to 75% re paid this year, and Zero'd next year.
I hope to keep CC use absolute Minimum after tomorrow.
Making use of Chase Debit for Groceries, already over £90 since 07/2 until late Feb.

Nasqueron

Dandytf said:

t.b.h.seems average expected lifespan is 13yrs, though I understand lots of people gain extra yrs use until 'something stops working'
I'm taking Advantage of home upgrades knowing I won't have such opportunity again.
+I'll take care cover if repair or replacement is req from new cooker.
I don't mind transfer fee, it's going to be similar to clearing current rbs balance.
That's bedroom heater/installation/de install removal -paid via Debit Card.
Only Cooker to repay, should be up to 75% re paid this year, and Zero'd next year.
I hope to keep CC use absolute Minimum after tomorrow.
Making use of Chase Debit for Groceries, already over £90 since 07/2 until late Feb.

You're not taking advantage of home upgrades, you're spending on the never never, knowing you can't afford it and are not following good MSE practice of reducing spend, not buying things you don't need etc. Lenders can repossess when bills are not paid by the way.

Qyburn

Dandytf said:

I'm ordering Cooker today, I'de think maybe slight saving on this t/fer fee being 3% £16.56 approx.

That means the cooker was £552. It also means that the cooker cost you £552 plus an extra £218 per year every year until you get that overdraft paid off. You need to understand that every single thing you buy is costing you 39.49% per year. Either its cost is increasing your overdraft, or it's preventing you from reducing the overdraft. The effect is the same.

Buying on zero percent doesn't change that, you still need to pay off the balance with money that would otherwise have reduced your overdraft. Unless you're deliberately running up your credit lines with the intention of defaulting and never paying back. 

Look at it this way. Let's say you hold firm and take control of your own affairs. Stop buying stuff until that overdraft is down to zero. Now you have nearly an extra £800 per year available.

Dandytf

@Qyburn
Thanks as I had commented earlier, I'll not be expecting to reduce OD any further this year.
Short Term running costs, 2024/25 are very important to Reduce OD before considering EV options.
Cooker+Bedroom heater Are Important home upgrades starting from today and tomorrow.
I'm in shock with recent Tech version of 'R' word, Consumers should cut back -I say on What?

MorningcoffeeIV

Dandytf said:

I'm in shock with recent Tech version of 'R' word, Consumers should cut back -I say on What?

Unnecessary kitchen appliances is the number one item.

Dandytf

MorningcoffeeIV said:

Dandytf said:

I'm in shock with recent Tech version of 'R' word, Consumers should cut back -I say on What?

Unnecessary kitchen appliances is the number one item.

Which is why I prefer Necessary Items.
Bedroom Heater day today, Connectivity.

Qyburn

MorningcoffeeIV said:

Dandytf said:

I'm in shock with recent Tech version of 'R' word, Consumers should cut back -I say on What?

Unnecessary kitchen appliances is the number one item.

I'll bet the new cooker wasn't necessary. Ours is coming up for 12 years now and there would be no conceivable reason to replace it at all, let alone rack up more debt in order to do so.

I dont know what article is being referenced, or on what basis consumers in general are being advised to cut back at the moment. However the general rule that you shouldn't spend more than your income has been known for centuries. 

Grumpy_chap

Dandytf said:

over 11 yrs has passed, time to recycle and replace, for a few hundred pounds since 2012- 

Not waiting until Cooker intermittently fails.

Dandytf said:

t.b.h.seems average expected lifespan is 13yrs, though I understand lots of people gain extra yrs use until 'something stops working'

Your cooker is less than the average replacement age.
Your cooker still works.
By very definition, average replacement age means at least half of all cookers in service are older than that.
This really does not establish your cooker as an Essential spend.

Dandytf said:

Which is why I prefer Necessary Items.
Bedroom Heater day today, Connectivity.

Earlier this week, you said you only had one "essential" (by your definition) item and that was the cooker so that would be the last / only item this year.

What has changed that means you now need a "connected" bedroom heater?
If something happened, so the existing heater stopped working, then rather than a fancy, expensive, "connected" heater on credit, a basic £20 heater (purchased from cash) would be a far better choice:
https://www.argos.co.uk/product/9190629
Spring and summer are coming so a new heater could possibly be delayed.  No-one needs a "connected" heater.

You have a very unusual way of assessing need and "essential".

Dandytf

@Grumpy_chap

Let's End this post as it's now down to Consumer Preference.

thanks  Mser's appreciated.

born_again

Qyburn said:

Dandytf said:

I'm ordering Cooker today, I'de think maybe slight saving on this t/fer fee being 3% £16.56 approx.

That means the cooker was £552. It also means that the cooker cost you £552 plus an extra £218 per year every year until you get that overdraft paid off. You need to understand that every single thing you buy is costing you 39.49% per year. Either its cost is increasing your overdraft, or it's preventing you from reducing the overdraft. The effect is the same.

Buying on zero percent doesn't change that, you still need to pay off the balance with money that would otherwise have reduced your overdraft. Unless you're deliberately running up your credit lines with the intention of defaulting and never paying back. 

Look at it this way. Let's say you hold firm and take control of your own affairs. Stop buying stuff until that overdraft is down to zero. Now you have nearly an extra £800 per year available.

If OD is a issue.
Then look at 0% money transfer cards. Use that to pay OD off. Sit tight & stall any further purchases as long as possible, while paying CC off.

I'm in shock with recent Tech version of 'R' word, Consumers should cut back -I say on What?


Is your current cooker broken? If not then, you can push a new one back for now.

Connected heater? Which is what?
We are coming out of cooler months of the year. Again hang on for a while & they will drop in price in the warmer months.