Here Goes

Slowlydoesit

Ok so i am determined to start this up again.

I consolidated my debts in november and took a £14k loan with natwest, ive got rid of my Overdraft, credit cards and loan but now have a 4 year loan at £400 per month. The aim is to overpay buy they only let me overpay to the value of my monthly payment so let's see. I know many say steer clear of consolidation but I have found the one payment so far in November and December has been easier to navigate. 

I've started the 1p challenge with monzo I know it's small beer but every little helps? The park Xmas savings are going again for next year, the purple card was brilliant this year it stopped a lump coming out of Decembers pay. 

Today I've managed to spend only for a school trip at £24 and 3 weeks dinner money at £34. 

Tomorrow I am in the office, my lunch is made so only train fare to go. Im committed to nsd in jan, aiming for two a week. Let's see, it's DDs 8th bday on 24th but luckily she hasn't asked for much, her ears pierced. I am still on the cusp of wondering whether it's too young but let's see. I have a few weeks to dwell on it. 

ThriftyPrincess40

Have you thought of broadband with a company that offers deals on Netflix and Disney? I’ve just bagged cheap internet with virgin media and they do deals with Disney n Netflix 👍 also FP I’ve just used variety for a family member and they were brilliant! You might save cancelling it and if you’re really wanting one do a moneypot for a FP like a savings pot for emergencies with less a month in and see where you get to, that way you can stop paying with no cost if you want to. L and G life insurance pay out very quickly, with my family member it was within a day of the death certificate. You can also put in your will for funeral costs to be paid first and there’s free wills online. Not sure if it’s any help, but there’s options. 

ThriftyPrincess40

Ps congrats and good on you with the diary x I’m going to get brave one day and do one, you’ve inspired me 💕

ryandotdee

I think that given your level of debt, which isn't outrageous in the grand scheme of things, consolidation isn't the worst route providing you change habits.  If you dont take on additional credit then a single lower payment per month is definitely the way to go!

In regard to your daughters pension, you have already done a great thing by putting that money in the pot for her, it will grow loads over the years, and you have already put a good chunk in.  I would be tempted to stop the payments until you have gotten yourself into a good position financially, as I am sure that future her would not want you to be straining yourself in the short term when you have already been very generous.

Good job on signing up for the 1p challenge, personally, I would ditch Park and use the 1p savings challenge as your xmas pot, appreciate you have started now and not before xmas, but I never saw the benefit of Park apart from locking the money away so that you have some guaranteed xmas funds.

All just food for thought, sounds like you are doing a great job, keep up the good work, definitely rooting for you