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  • Chocolatefund
    Chocolatefund Posts: 197 Forumite
    Tenth Anniversary 100 Posts Debt-free and Proud! Photogenic
    edited 3 August at 12:52AM
    Hmmm, some quick maths then..

    NW2 £6000 / 11 months = £548 per month (including your minimum payment till the 0% ends)
    NW1  £7080 / 14 months = £505 per month (unless you mean this October?)
    Lloyds £ 5075 / 16 months = £317 per month

    So the Lloyds is the easiest to pay off before the 0% ends, but, If you think you can get rid of NW1 first, then the balance transfer fees would be lower for the others.

    This is assuming my maths is right, haha.  This is why it’s worth using the debt payoff calculators online to give you a decision.  Either way I would stick to your original plan to get rid of credit cards first.
    The financial wealth building journey.

    Busting this debt before 40. Started in August 2024 with debt = £19,966. August 1st 2025 debt = £0 and busted!
    Debt free dairy https://forums.moneysavingexpert.com/discussion/6547320/busting-this-debt-before-40/p1

    Savings goals by 31st December 2025;
    Emergency Fund: £3,445 / £4000
    SIPP: £3,932 / £4000
    S&S ISA: £637 / £1000

    “Save me now and I’ll save you later” - Your money

    I eat far too much chocolate...
  • rachmac3
    rachmac3 Posts: 370 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    I had a lovely meal out yesterday, catching up with old work friends. A very worthwhile use of three days treat budget. 
    Today I will be mostly eating and storing the garden produce. I have my first courgette to pick! I know it's strange but I haven't managed to grow any courgettes/squash/patty pan since I moved to this house, they get leaves but either the fruit doesn't grow or animals get to them while they are still tiny. I will savour it! I am hoping I can find a tasty recipe that also uses up cucumbers (I have at least 7 currently), field beans, or kohl rabi (I have one green and one purple in my fridge). 
    I have eaten a lot of cucumber based salads this week so I'm thinking of using courgette and kohl rabi. 
    I gave some eggs to a friend yesterday but still have around 20 of those too. 
    It's gonna be veg fritters isn't it  :D
    I also need to check the potato pots as the foliage has died back. I don't think I'll get much from them, it's been far too dry. I would like to try and plant some potatoes for Christmas time though so I need the pots.
    I picked a lovely little bunch of sweet peas and 'wildflowers' for my table on Friday then spent the next 2 days itchy and sneezy before I realised why. I'm usually only allergic to tree pollen so that's an unwelcome discovery. They did look very pretty though. 

    Debts                 04/01/25        02/08/25   

    Tesco CC          £6,509.97       £6,030 (now NatWest2)
    NatWest CC      £7,612.74      £7,080
    Lloyds CC          £6,112.60      £5,075
    1st Direct CC     £176.03         £19.92
    CC total             £20,411.34   £18,204.92
    TSB OD             £500             £0
    1st Direct OD     £600             £250 (0%)
    Car loan             £4,000          £4,000
    1st Direct Loan  £10,684.44   £9,246.15
    Total                  £36,195.78   £31,451.07
    EF £400.56
  • jwil
    jwil Posts: 21,975 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Lovely flowers!
    "Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee
  • Sun_Addict
    Sun_Addict Posts: 24,061 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Such pretty flowers 🙂
    I get knocked down but I get up again (Chumbawamba, Tubthumping)
  • PennysIntoPounds
    PennysIntoPounds Posts: 4,378 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    Ugh how frustrating about the L credit card people, but shows you have enough nous to ask which is a very key life skill!
    You're not meant to understand how finances work, that's how financial organisations make their money. You are definitely not an eejit for only working it out now, pat yourself on the back for having cracked that code.
    I have a monthly budget then at the start of each week I allocate that week's share to the week, in my little handwritten diary because I'm old old skool 😁 So then I can see approx how much I have to spend per day as a guideline but if I go over on a day for groceries or a spend or an outing I can have a less spend or no spend day in that week without stressing myself I've spent too much one day or getting to the end of the month having spent it all.

  • rachmac3
    rachmac3 Posts: 370 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    I've had a lazy day today because I was quite busy yesterday (need to keep that energy in balance) and I've eaten plenty of vegetables. How lush is it that I could pick a courgette and eat it within and hour, pick the mint and basil minutes before using it, and use an egg that was laid a few hours before. I might be poor, but I am very privileged in other ways.  On days like this I feel like the garden is nourishing me to say thank you for the ways I try to nourish it. 
    I think I've come up with a new adjusted plan for the debts. I'll increase my loan payments slightly (from £205 to £220) because I am confident I can spare that £15 every month. I might increase it to £225 after holiday because it will feel satisfying to be paying an extra 10% for now. 
    I'll carry on paying the £300 a month off the credit cards because even without overpayments that should mean CC debt is down to 15k by July and I am relatively confident that will fit on two cards instead of three. I will get a second job soon, so overpayments can be made off the credit cards and I can think about maybe getting a bit of money together to keep the kitchen usable. Obviously I would like the CC debt to be well under 15k by July but I know I can stick to these figures even without taking on extra work and that all feels comforting. 
    Ideally I would like a job that I can do more of when I am well and when my ft job is settled, but do less of when I'm unwell or when the ft job gets busy. I am not sure what that is yet, but I have a bit of time to figure it out. I don't want to commit to something that I later regret or that makes me ill. On that theme I also need to dissolve the business as I don't use it and even if I do private work it will be minimal amounts of money and I can do that as a sole trader with less stress and paperwork. 
    See!  All those vegetables have fuelled my brain!
    I hope everyone had a lovely weekend. 

    Debts                 04/01/25        02/08/25   

    Tesco CC          £6,509.97       £6,030 (now NatWest2)
    NatWest CC      £7,612.74      £7,080
    Lloyds CC          £6,112.60      £5,075
    1st Direct CC     £176.03         £19.92
    CC total             £20,411.34   £18,204.92
    TSB OD             £500             £0
    1st Direct OD     £600             £250 (0%)
    Car loan             £4,000          £4,000
    1st Direct Loan  £10,684.44   £9,246.15
    Total                  £36,195.78   £31,451.07
    EF £400.56
  • Middle_Aged_Guy
    Middle_Aged_Guy Posts: 21 Forumite
    10 Posts Name Dropper Photogenic
    I absolutely love how you turn any day to day pent-up aggression / aggravation into smashing that debt :smiley:

    You seem more determined than ever rachmac3 and its inspiring to see, go you!!
  • doingitanyway
    doingitanyway Posts: 9,962 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    Ooh roast chicken is my comfort food too. 
    Well done for upping your p[ayments
    If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them

    Emergency fund 100/1000
    Buffer fund 0/100
    Debt Free (again) 25/072025
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