The Three C's - Coffee, Clothes & Credit Cards

Sarahwithlove

Chocolatefund said:

Sarahwithlove said:

biggerpickle said:

Also catching up and I've twigged your overpayment pots, there was me thinking surely you just overpay to get the balance on 0% cards down before the interest kicks in but obviously paying the minimum and then saving the balance in an interest bearing account makes more sense! I am wondering if I am as disciplined but I think not plus one of my 0% cards runs out in 2 months so never going to save that. I have just revised the other to minimum payment to clear more of that for the next few months.
  

Yes sort of. I rounded up minimum payment to nearest £5, then put that as a fixed amount. Makes it easier to track how much will be required to clear by end of 0% virgin is set at £50 and Natwest at £25. 

I've now saved the missing for Virgin and locked my savings pot on monzo so I'm not so tempted to take it out before July. Natwest pot will require £70 p/m in it to clear by end of 0% in December. Should be very doable. Especially as I don't have anything major coming out of my sinking fund except Xmas presents until May/June time. So unless anything unplanned happens I should have more free money to pay into it. I'm trying to save for my weight loss injections by rounding up, sales on vinted and any vouchers I use. 

You have more patience then I do. I just want the debt gone!   

Ha yes I was like that at one point but I find it's about balance now. I know I can clear it by end of 0% and I want to make sure I have a fully funded emergency fund and sinking fund so that I won't need to rely on credit in future. I may pay them off early with savings should I not be happy with the rate my current mortgage provider offers me next year and I need to shop around. But last time they were cheaper than any deal a mortgage broker could provide me with. 

Sarahwithlove

I forgot my car insurance was due, I have the funds in my sinking fund so it's not an issue. I've put it on Natwest for now as that's still 0% on purchases until Dec next year. Trying to decide whether to withdraw the funds from my sinking fund and lose interest or just pay it off the card over next few months. Alternatively I could take it out the emergency fund and repay that as it was only £375 for the year. Again though I'd lose the interest. I think I'll leave it on Natwest for now and just make overpayments towards it to bring it back to my original debt. I have time if I change my mind. I know at some point I will get my payrise awarded and backdated it's usually January but may be delayed this year as looks like unions might be going on strike. I'm trying not to budget it as I don't know what will eventually be agreed. But the original offer would easily cover my insurance. So that's another option. I don't know why but I hate withdrawing money from my sinking fund, I like to see it fully funded! 

Sarahwithlove

Brought my first Christmas present today, along with some household bits. So bit the bullet and withdraw the funds from my sinking fund along with the car insurance money. Suppose I best update my signature. 

Scott_Weiland79

arghhhhh dont mention the C word lol its still October 

Blackcats

I struggle to spend money from my savings pots too - even though it's precisely what the money is in the pot for.  Ironically, I didn't find it difficult to spend money that wasn't mine on credit cards and loans,

Christmas is yet again creeping up on us this year 🌲

Sarahwithlove

Scott_Weiland79 said:

arghhhhh dont mention the C word lol its still October 

Haha it's theatre tickets for me and my bestie to go see mamma Mia next year so had to buy them now. 

Sarahwithlove

Blackcats said:

I struggle to spend money from my savings pots too - even though it's precisely what the money is in the pot for.  Ironically, I didn't find it difficult to spend money that wasn't mine on credit cards and loans,

Christmas is yet again creeping up on us this year 🌲

Yes it's funny isn't it that putting something on credit card is easy but take money out of savings is hard. I like the security of savings but not really mine if i have the money on a credit card instead 

badmemory

I still find it hard spending my savings even though they were saved for my retirement & I've been retired 12 years now.  I have spent some lump sums, solar panels being the lastest.  I'm still not sure what I was thinking!  Well I do know really, I was thinking I am spending above average even though my house is smaller than average so I may as well try & mitigate my "footprint" at least a little as I can't do much to reduce our actual usage.

Willowtree222

I find spending others money easier than my own x

Sarahwithlove

badmemory said:

I still find it hard spending my savings even though they were saved for my retirement & I've been retired 12 years now.  I have spent some lump sums, solar panels being the lastest.  I'm still not sure what I was thinking!  Well I do know really, I was thinking I am spending above average even though my house is smaller than average so I may as well try & mitigate my "footprint" at least a little as I can't do much to reduce our actual usage.

Good to know it's not just me and doesn't disappear with age.