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

Sarahwithlove

CreditCardJunkie said:

Sarahwithlove said:

CreditCardJunkie said:

Sounds like a lovely weekend Sarah! Just been catching up and your budgeting is going so well! 

Just a thought, would you not clear the creation with your savings & call your dad's debt a direct debit? From what you said previously your dad isn't concerned about getting repaid quickly (or maybe even at all). I really think that switch could flip your mindset if you were debt free, it seems you've the budget nailed and are unlikely to get into debt again! Might just be freeing!

Thanks, I have considered it but there's something about having savings that reassures me. Creation loan is also 0% so whilst it would be nice to have it gone I'm not in a massive rush. My dad is still very much not in a rush to have it paid back and happy with his £100 a month. But again part of me is like it will be nice when its gone. But you could be right, treat it like another payment. 

Given me alot to think about 

Ahh yes 0% didn't think of that! Fair enough! Sounds like you've got a really nice balance of budgeting and enjoying life!

My plan is to get my savings to £2k with overtime then start overpaying Creation to have it gone. 

Willowtree222 said:

I also have a 0% creation and savings and have had that dilemma loads of times. I always come to the conclusion that whilst there is no interest, having it in savings is best, but then, like you, wonder what it would be like with it gone. 

Its a tricky one, once I am in good place with savings I will get it gone to free up the monthly payment. Though it is only £20 that's extra towards my mortgage which i plan to tackle next.