A space for my thoughts - tackling debt once and for all!

Debtfree2026

@MFWannabe thank you for your comment!  Good point! But that does remind me of something I've been meaning to ask......I haven't closed the account - I immediately went to do that and then hesitated - not because I ever intend to use that card ever again - but because I wasn't sure if it was better to have the credit available but unused for the purposes of my credit file. ....does that make sense?!  What are your thoughts?  Just get rid?  My main bank account is with HSBC but that shouldn't make a difference would it?

So basically, my question is - is it better for me to have credit available but completely unused or shall I just get rid of all of it as soon as it get's paid off?

(Yes, I have already deleted all credit cards from online stores and apple pay!)

MFWannabe

It really depends on your credit utilisation and if you will need / want credit in the future? 

Also are you likely to spend on the card? 

For me I closed all the accounts and applied for a new card just for big purchases to get the protection 

But I don't want any credit again, had some my entire adult life and glad to finally have been in a position to get rid of it 

Debtfree2026

MFWannabe said:

It really depends on your credit utilisation and if you will need / want credit in the future? 

Also are you likely to spend on the card? 

For me I closed all the accounts and applied for a new card just for big purchases to get the protection 

But I don't want any credit again, had some my entire adult life and glad to finally have been in a position to get rid of it 

Definitely don't want credit again - just want to be in the best place for re-mortgaging next year. 

I'm currently very confident that I will never use that card again but I appreciate that other people have undoubtedly said the same and fallen back into debt due to circumstances beyond their control.  The interest is so high that I would absolutely try and do anything I could before having to resort to this card. Hence my desire to get my pots and emergency funds into a good place whilst I can.  

MFWannabe

In that case I would close the card, it’s not required 

If you needed to you could apply for another transfer card 

Ref mortgage, if you stay with current provider no credit checks etc are done as you just move to another product with them that you choose 

If you wish to look around for a mortgage with another lender then that’s a remortgage with credit checks etc 

Debtfree2026

MFWannabe said:

In that case I would close the card, it’s not required 

If you needed to you could apply for another transfer card 

Ref mortgage, if you stay with current provider no credit checks etc are done as you just move to another product with them that you choose 

If you wish to look around for a mortgage with another lender then that’s a remortgage with credit checks etc 

Yes, I will close it.

Re the mortgage, I guess I'll have to see what we can do nearer the time.  We've had the same broker since 2012 (this is the third house we've bought) and she has always been very good.

Debtfree2026

So today is payday! It's the third month properly budgeting our pay and I still get nervous pulling the money out and putting into the pots.  However, they do look very appealing and also - it's working!  I needed to get a birthday present and card for a birthday party my youngest daughter has been invited to next weekend and it was lovely to have a pot to take some funds from!  Also, by sorting my pots as soon as we get paid I have been able to make quite an immediate substantial payment of £482 to my Nationwide CC - if I can do the same next month I will be able to completely pay that card off and that's a lovely feeling!

All being well, then I will pay off Littlewoods the month after.

That will leave my two most significant debts, the HSBC loan and new MBNA credit card which is a hefty balance but is at 0% balance for the next 19 months so I will have the surplus funds to throw at this card and get it down significantly.  As I've said before, this is going to take some time but it will 100% be worth it!

Debtfree2026

This week is not being good to me...…..ironically nothing financially related so could be worse! I'm going to just write and hopefully it will be some kind of therapy.

Firstly, I am due on my period so my patience is on the absolute edge already!!

Work:- keeping me busy this week! I'm a HR Manager and I've had a few additional things to deal with this week which would normally be absolutely fine but on top of family pressures and general grumpiness it's pushing me towards that edge.  So I'm a little behind where I'd like to be.  We have apprentices here and one of them is due a workplace review with his college provider .  Fine, except they can only do Friday afternoon which is my usual day off and I'd like to be here for it as we have some concerns with this apprentice that we would like to try and iron out.  So I'll be bringing my four year old in on Friday for a bit.  We have a phonics class and playdate in the morning.  And she has a hair cut in the afternoon before we pick up big sister from dance club so it's now a busy and hectic Friday.  

Tomorrow....my eldest has an away football match after school so she'll be back later, about 4.30pm and I have to get her across town for her gymnastics class for 5pm so that'll be tight! I'll have to remember to pack her gym leotard as we'll probably have to go straight there from school - oh and she has piano lesson at school tomorrow so needs to remember her music....

I think it's safe to say that my cause of stress is due to Mother's Load rather than anything specific.  Things on their own, not too stressful but remembering everything else on top of that stuff - equals stress to me.  Playdate Friday - first thought, ah lovely.  Girls can have a play and I can have a good natter with my friend.  Then actual thought process:: I've got to get some snacks in and clean the downstairs in readiness! Due to busy day tomorrow it'll have to be largely done tonight won't it!  As I have to go to work on Friday I'll have to drive when I don't normally drive on a Friday  - will have to ensure car is charged up, whereas usually on Thursday I leave it until Sunday evening to worry about!  Second thoughts -  I could probably get it to work and then charge it there - that would be better!

Concern: my four year old soiled the bed last night.  Completely unlike her and I'm not quite sure what happened.  She literally slept through it and this morning was completely unaware.  So I obviously stripped her down and showered her this morning. Then completely stripped her bed.  But it still really smells in her room and I'm stressing about that. It didn't get on her duvet but that stank so I put it on the line outside to air.  Used the heavy duty carpet cleaner on the mattress so fingers crossed that will work.  Also had to leave some windows open upstairs so it'll be freezing when we get home later but needs must.  Main concern isn't the smell, it's why?  Hope it isn't something more worrisome? 

I guess positive things:- I've been having leftovers for lunch so haven't spent any money on lunch this week.  Yesterday I claimed my free Café Nero coffee with my Octopus points and used change for my daughter's cookie brownie so haven't used my card at all yet!  I'm being negative about work but at least I can work flexi hours and leave to get the girls from school, I know a lot of parents don't have that option.

LzzyIsGod

Sometimes it feels like you are juggling millions of plates doesnt it. 

Cara_

It's hard when you have a lot going on but hopefully it will be calmer by the weekend. 

I hope your daughter is OK and that it was just a one off.

That's a huge positive if you can clear the Nationwide CC next month, one debt down and the Littlewoods will be gone shortly after, which will be a boost for you..

Debtfree2026

Thank you for your comments.....

@LzzyIsGod I'm now at work, remembered to pack my daughter's piano music this morning and have got her leotard in my bag so we are doing well so far today!  I actually thought she had a football match after school but it's netball so I spent 15 minutes needlessly cleaning her football boots last night but never mind, it's done in readiness for next week now!

@Cara_ my other daughter seems absolutely fine so far, I really hope it was a one off! I kept going in to check on her during the night!

I am still really trying to get this grocery budget down - I'm seeing people feeding family of 4 on Tiktok for £50 a week and I honestly can't see how! It looks like decent food as well!  Last month I gave myself a budget of £800 for all groceries (including top ups) and I only had a little left - I know it was a 'longer' month (20th December - 27th Jan) and included a little alcohol etc.  But a big part of me thinks we spent it because it was there.  So I've given myself £700 this month and I'm being a lot more frugal.  Plus no booze as we are carrying on with dry January for as long as we want.  Probably until my husbands birthday at the end of March if he fancies a drink then.  Otherwise it will be my sister's wedding in April.

I have my online delivery coming on Sunday but I have got a head start on the meals for next week - I actually got a large gammon @Cara_ which I can cook up and use towards other meals! Going to check out the Old Style board again for some more ideas.  It is a bit of a mind reset though - I'm used to the fridge and cupboards being filled to the brim after a shopping delivery but now they aren't because I am buying stuff to eat that week, rather than mindlessly buying lots of 'options' and then having to throw away stuff because it doesn't get used in time!