In credit on pay day?

nicnacnoo

i live off my overdraft, thats why im here! slowly trying to repay it
Nic

nimbo

i finished my four year degree course 3 years ago, and have not had 'REAL' money in the bank since. my overdraft was 2500 and i have until recently earned a pittance.
i have lowered it to 1200.
i have now got a decent job, and wednesday is my first full pay packet from it, so on wednesday afternoon i am going to the bank to lower my overdraft by 300.
meaning that in march on payday my account will have plus figures in it for the first time in about 3 years!!!!
i am going to shut down this facility, and by June i intend to only have a 200 buffer zone in place, which i will do my best not to use. (as in for real emergencies, such as the boiler breaking down etc).
apart from my overdraft i only have my student loan to pay off, which i am in no great hurry to do as i'll never get such a great rate for a loan again.
i also have about 200 letf of the overdraft as of this morning, which hasn't happened for ages...
so feeling quite good.
:beer::beer::beer::beer:

MERFE

are we in credit on payday? yes the day before? no. We could have been debt free by now if i hadn't left work to stay at home with the kids but would i change things just to be debt free? no, can't get this time back with them. Our overdraft is 0% till sept so i shan't be too concerned about it till then and we should have paid off a few other things by then so can concentrate more on it.

Will_I_ever_learn?

About half the month in credit, then half the month in OD. Mine's 0% for another 6 months or so, but the limit's £1,500 and we can reach that! However, LBM was only very recently and am prioritising CC debts first!

MiniLaura

I have an overdraft of £300,which I current count as money available to pay bills/expenses etc.
When I finished uni a few years ago, I had overdraft of £1800! :eek: I cleared it using a consolodation loan, not hte best idea but I wanted it gone! I had lived on it so long, and never saw my account in the black, in hindsight should have slowly reduced it but had no faith in my budgeting abilities and wanted a quick fix solution!

I would like to get teh current overdraft cleared off my account, and think its possible to do this within next few months, with careful budgeting. Biggest problem at the moment is have soo many small amounts of income coming in at different times of month I need the overdraft to meet the gaps! Its currently interest free as part of Ultimate reward account. Think I might just ask for it to be reduced slightly every now and then, and shouldnt end up missing it.

MoneyMagnet

I lived in my £2K overdraft as a student & for a few years afterwards, but paid it all off a couple of years ago, & then cancelled it. Even though I'm not fully debt-free yet, I've totally changed my old habits, & it feels much better to be in credit in my bank account (and not to buy anything on credit elsewhere either). I normally keep a buffer of about £100 in my current account, and treat that as my 'overdraft', and try not to dip into it.

cat4772

I have about a grand in my account at any one time (this is my buffer zone). I am so used to leaving the money in this account that recently I'd paid £150 train fare to go to a funeral and realised that if I did any shopping that week I'd be dipping into my buffer that I didn't do any shopping and didn't do any spending just to maintain the balance! Apart from a glitch at the bank in 2005, I haven't been overdrawn (or used an overdraft) since 2000!

Cat.x