IA's Debt/Life/Little bit of Everything Diary...

Bunnyinthelights

Glad he's out of the operation ok hunny x

barnaby-bear

bandraoi wrote: »

Well the TV is at 0% til Oct '09 so to be honest that's not a priority
You found out before that you could overpay the car loan didn't you?
If that's the case I would stick all the money against that.

If you can't, you say you need £3500 to pay off the whole lot in October.
That's 9 months away - £316.77*9 is £2850.91.
To have £3500 by October you need to £388 per month, or an additional £72 a month. Or it should be possible to get a loan for £650 to cover the difference at the end of the car loan.

So if you can't overpay it's time to find yourself an ISA and start saving.
If you can overpay then I'd change the car standing order to say £200 extra and get on with enjoying your life.

When you link your courses to the degree - is it worth investigating getting a student bank account (free overdraft), most banks do a student account maybe one takes part-time students - still debt but 0% - shuffle?

System

Glad he's out and fingers crossed for the recovery

immoral_angeluk

Have been thinking about the car loan....
Yes, it's 24.1% BUT the interest was front loaded because it's hire purchase. Is there any point moving it? We won't get a 0% BT transfer with that high a limit so our only option I think is to over pay.
I'm personally thinking of waiting til October then doing a balance transfer to pay off the tv with the Egg card... then in the meantime if I got a job to earn the money to attempt to raise the money to pay off the car in october....
what do you guys think?

Toto

Glad he's on the mend now, I'd been thinking about him all day. Hope he has a really quick recovery.

Snaggles

Although the interest is front loaded, you may get a pro-rata refund of the interest if you pay it off early, so it might be worth doing. If you ask them for a settlement figure, they should be able to tell you if any interest will be refunded. Then you can work out whether moving it will save you any money.

immoral_angeluk

Right... think I have a plan.

The final settlement figure for the car is £3182.28 if we pay in full after half the term which'll be 1st October. That gives us 41 weeks between now and then which is £45 a week.

Tv finance will be balance transferred onto a 0% deal at the end of the current 0% and then paid off once the car HP has gone.

Now I just got to figure out how to get £45 a week and still manage our budget! Ste has mentioned the possibility of some bonus coming at the beginning of April but I won't go relying on that til we've got it.

:think:

immoral_angeluk

BTW Ste says thanks to everyone for the well wishes. :grouphug:

Gemmzie

£45 a week should be do-able IA. Just really plug at it

Glad to hear FIL is okay

immoral_angeluk

Have spotted a job I'm going to apply for tomorrow. Filing assistant on sundays between 8.30 and 1pm. Going to call tomorrow. If I get that plus if argos keep me on that would be at least £52.44

Will see what happens tomorrow!