Tired of being afraid

rosyc_2

Bismarck wrote: »

Understand the need for some hard cash...especially if you can't pay off the loans with it anyway. Are they earning a good return though?

ISA £3000, is at 4%, low I know, I am looking to move it to a better one and then add this year's allowance from my other savings account which has about £9000, that is currently at 5% which I think is ok for an instant access account. Plus I need to get out of the habit of consolidating everything, once these loans are gone I will never touch another one, fingers crossed, doing it this way makes me feel more in control of my finances.

tigzem

Hey Rosy...

Well done on finding DFW... it's a great place and the people are really friendly and helpful. It's helped me lots.

Good luck on your journey... I'm sure that special person is just around the corner... but as someone else pointed out, being in a relationship sometimes isn't it's cracked up to be, it does have it's merits tho I guess...

Keep posting and all the best xxx

lazylurchers

Hi Rosy,
I am a newbie too but have lurked around for over a year. The advice given on the website is excellent and everyone knows from experience what you are going through. I am alone again (excluding kids) and find it much better than having someone unsupportive around. I hope you find some strength from the people on this site as i have all be it from a distance.

Burlesque_Babe

rosy - pop over to the savings and ISA board - there is a thread about ISA's - 4% is very low and there are a few 6%+ ISA's available at the moment.

It is worth looking at the amount of interest you are paying on your debt though in comparison to the amount you are getting on your savings.

If you paid off 12k of the debt and you were sick, at least you would have the CC's as an emergency.

rosyc_2

Thankyou, I am feeling a bit better today, you are right the advice is excellent and everyone is so friendly, I was in a bit of a state last night when I posted, and I have reread the posts and I am hoping that one day I will be in a position to post some of the brilliant advice given to me, feels a long way off though. You are right about being single being better than having someone unsupportive, but being single it just feels like I can't even get one area of my life to work at the moment, feel in a constant state of dread about always having to manage everything by myself. Just can't get myself out of this black hole.

rosyc_2

keren29 wrote: »

rosy - pop over to the savings and ISA board - there is a thread about ISA's - 4% is very low and there are a few 6%+ ISA's available at the moment.

It is worth looking at the amount of interest you are paying on your debt though in comparison to the amount you are getting on your savings.

If you paid off 12k of the debt and you were sick, at least you would have the CC's as an emergency.

Thanks for your advice, I have considered that, but the thought of any more loans or credit cards makes me feel very anxious, just want the ones I have cleared, so that when they are I will be debt free and have a good amount in my savings account rather than starting from zero if that makes sense. and then I will be able to add to my savings, using the money I spent on my loans, I should have one cleared in 9 months, so I can start snowballing.

RAS

Hi rosy,

Excuse me butting in. I think it is extremely sensible in your situation to have some savings in the background, but maybe you have more than you need? And also by the looks of things in a year's time your calculations may need altering when the 0% end and the loan end?

You have not put up a lot of the stuff in your SOA (food, transport, clothes, CT etc) but how much a month would you need to cover everything except the debts? Keep that amount plus £200 times 4 or 6 for in case things got really bad, and pay off the rest?

Can you pay off the smaller loan early without an early redemption penalty? Or would it make more sense to hold on to that money and pay all of the CC off when the 0% ends?

rosyc_2

RAS wrote: »

Hi rosy,

Excuse me butting in. I think it is extremely sensible in your situation to have some savings in the background, but maybe you have more than you need? And also by the looks of things in a year's time your calculations may need altering when the 0% end and the loan end?

You have not put up a lot of the stuff in your SOA (food, transport, clothes, CT etc) but how much a month would you need to cover everything except the debts? Keep that amount plus £200 times 4 or 6 for in case things got really bad, and pay off the rest?

Can you pay off the smaller loan early without an early redemption penalty? Or would it make more sense to hold on to that money and pay all of the CC off when the 0% ends?

You are very welcome to butt in! Any advice is very helpful. I know what you mean, I mentally move money around my accounts a hundred times a day, my plan is to make overpayments to the £200 loan, and maybe clear it earlier, then I can begin paying the £200 plus the money I am already paying to the credit card to clear that. Then I may use my savings to pay of the last loan, as it will be a lot less by then, so savings not too badly affected. That is my plan at the moment but it changes all the time.

Burlesque_Babe

rosyc wrote: »

Just can't get myself out of this black hole.

Every post you make is another tiny step out of it.........believe me - I've been there and the support was amazing from the wonderful people on here. They are :A

judy2357

Hi Rosy

congrats on sorting your debt out. Honestly £3000 is a really small debt and I think your real problem is probably loneliness. Hopefully speaking to people on here is helping you but i think you will have to be brave and join a class at college or something. what are you interested in?