Paying off £37065 unsecured debt by July 2027 while continuing to travel this amazing world

LzzyIsGod

I'm no expert but I think I'd be inclined to keep the EF just in case of emergencies (I know I know! Clue is in the name right)

It can be very tempting when the mini goal is so very very close and I'd be thinking the same as you but it's bit like a game of chess - the smartest moves are not always the quickest moves and avoiding the potential for having to use more credit might be safer in the longer term 

Nintud

The voice of the dfwers has spoken. The emergency fund stays. I just need to be patient and keep chipping away.

Nintud

biggerpickle said:

Woo, well done on dropping into the 200s!!! 

I may have added to my Very account today with some 75% off sale tops for work, oops.

I will not look at the sale, I will not look at the sale, I will not look at the sale…. 😬

LzzyIsGod

Always easier to be objective for someone else than yourself!!! 

Squirrelz92

Yes definitely the wise choice keeping your EF. You always end up finding you need one right when it the most inconvenient, for example using it to pay off the rest of your Very account 😂 You are doing brilliantly! 

RelievedSheff

Nintud said:

The voice of the dfwers has spoken. The emergency fund stays. I just need to be patient and keep chipping away.

We have all had the same conundrum. 

We will be having the same "problem " later in the year when our credit card balance has got lower than our savings balance 🙄

badmemory

Definitely keep the EF.  Even if you lots of savings if they are in fixed accounts you may well not be able to access them.  I dropped a clanger 6 months ago & got a large job done & I hadn't checked the end date of the account I was going to use.  I had to take it out of an ISA, not the very best idea.  Fortunately when I checked the terms I could take money out & replace it as long as it was in the same tax year.  Still it was very careless & lesson definitely learned.

Nintud

A great start to the day with a £23 Vinted payment sent to Very and another £4 sale (offer accepted, hopefully will pay). The sale today is of some items taking up way too much space. Unfortunately though, I have no coins in my purse. I’ve sold some money boxes and I like to send them with a coin in. I hear the voice of my Mum saying “never give an empty purse or money box” or they will stay empty. Even a penny brings prosperity to the receiver, and the giver will always have enough to give.

Silly superstition or not, I like to be reminded of my Mum. She had another couple of regular sayings that keep me going; “don’t worry about money, because money doesn’t worry about you” and “you have the luck of the Irish, things will sort themselves out in the nick of time”. The latter has worked every time (even if I haven’t always liked the method of sorting!), and the former kicks in when debt worries threaten my sleep. I miss my Mum terribly, but I know she’s still a reliable source of wisdom.

I miss the community of my youth too. Before social media. My parent’s back door was always unlocked. Neighbours dropped in daily for a coffee and a chat, and we would sit at the dining table with the grown ups putting the world to tights, and me listening in.

Nintud

badmemory said:

Definitely keep the EF.  Even if you lots of savings if they are in fixed accounts you may well not be able to access them.  I dropped a clanger 6 months ago & got a large job done & I hadn't checked the end date of the account I was going to use.  I had to take it out of an ISA, not the very best idea.  Fortunately when I checked the terms I could take money out & replace it as long as it was in the same tax year.  Still it was very careless & lesson definitely learned.

My only savings are locked in to a fixed term bond until November. The EF will stay. Hopefully I will work out a way not to touch it when I have to pay for the car accident damage.

teapot2

Hi Nintud we had a similar thing to your coin in a moneybox in Scotland called 'handseling' where if you gave someone a purse as a present it was good luck to put a coin in it.  Also applied to giving some money when there was a new baby.

Not sure people still give purses as much now that a lot of folk have their money on their mobile phone?