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

Snaggles

It is paperwork-type filing, not old-mens-toenails-type filing, isn't it?? :eek:

immoral_angeluk

Snaggles wrote: »

It is paperwork-type filing, not old-mens-toenails-type filing, isn't it?? :eek:

I hope not! It is at a fertility clinic though... :rotfl:

Toto

OMG do you really want to go there once a week... we all know how fertile you are they can swim you know.:rotfl:

Snaggles

Toto wrote: »

OMG do you really want to go there once a week... we all know how fertile you are they can swim you know.:rotfl:

:rotfl: :rotfl: :rotfl: :rotfl:

tesuhoha

Just wrote you a long reply but it got lost. i didnt realise that the interest on the car loan was front loaded. I think a good alternative would be this:

Pay the minimum balance on both tv and car loans for now. Save your spare money for 3 months till you have enough to pay off the tv loan. Keep it in the savings and pay the minimum balance on the tv card/loan until just before the 0% runs out then pay it off. (This will save you the BT fee on one of your loans) Meanwhile once you have saved all the money to pay off the tv, then start throwing all of your spare money at the car loan. By October this should have reduced enough for you to be able to get a low rate cc BT to pay off the balance of the car loan. That way you will only have one debt left at a low rate and one debt is much better than two so good psychologically to pay it off if you get my drift.

tesuhoha

And good luck with the job.

barnaby-bear

Snaggles wrote: »

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.

I'm not always convinced by the phrase "front-loaded" most of the time they are referring to compound interest, i.e. interest on credit cards/mortgage or most types of credit....

e.g. borrow £100 at 10% pay back £25 a year

interest payment repayment outstanding
year 1: 10 15 5 85
year 2: 8.5 15 6.5 78.5
year 3: 7.85 15 7.15 70.0

and so on.....
people seem genuinely shocked that half way through a load agreement they won't have paid off half the balance, actually at the start they owe a lot so are paying interest on practically all of it.... I think seeing the effects of interest and compounding, deflation and inflation, snowballing etc are quite informative.... in my opinion a little table like above should be included in all that type of agreement. If overpayments are allowed (e.g. mortgages often) then in example above a £5 overpayment in year 1 is only a 33% rise in payments (from £15 to £20 ) but means the capital being paid off is increased by 100% (i.e. doubled)

immoral_angeluk

I have a confession.. I didn't go to bodytone last night :eek: I went to get ready to go only to find that my gym bottoms had shrunk and got too depressed to go. I'm going to do lots of sit ups today instead and go to bodytone tomorrow once. So last night I spent the night brainstorming song ideas. Not easy when you've only got a bass! lol Just got to run it past the guys and see what they say..
I would check internet banking but the sites down so I don't know how much we've got in the bank.. :rolleyes:
Ste might be going up to see his dad later with his sister so will update when I have some news.

Right so action plan for today..

• [strike]Call about filing job.[/strike] Called but no answer.. emailed CV instead.
• Book guitar sold on ebay in to be collected by parcelfarce for tomorrow.... (the buyer literally only paid yesterday even sold it sold over a week ago!!)
• Go through freezer and compile meal list and 'top up' shopping list for tonight.
• [strike]Put some washing in.[/strike] Done :D
• Have a go at some more song ideas..
• [strike]Call scottishpower about getting our money back...[/strike] £84.48 cheque on the way
• Check internet banking when it starts working again!
• [strike]Do some exercise!!![/strike] Done!

jacs76

sounds like a good plan of action for today:D

immoral_angeluk

Update about Ste's dad. Apparently he's had a really good night and is now off the ventilator. They're going to start weaning him off the drugs and take some lines out today as well and Ste's going up to visit later on this afternoon.