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Hmmm, what to do.

Hi, I have got some money being payed off on a 0% credit card. And also £1000 left on a loan which I pay £164.47 on a month (ends November).(interest payed)

I am just about to sell my car due to high mpg for £1000, cash in hand on Sunday.

I have one £700 overdraft which I get charged around £5 a month for.(always use this, and currently in it.)
I have a £200 overdraft I get charged 50p ish a month.(always use this to the max)
I have a £50 overdraft I get charged 0.20 amonth. (I rarely use this anyway)

So thats £68.40 a year for overdrafts.

Now I have no vehicle, so I need to buy a bike/car (Bike :) ) I have worked this out to save £2000 a year on travelling costs.

Im looking at new bikes on 0% finance, as I have easily enough to manage a month due to the change meaning £150 fuel saving)

Im thinking clear overdrafts (£900 worth, will cancel £50 one today)with this £1000 I have coming my way. Then I have £600 back pay next month which I could use to pay off some credit card or loan.

A bit haphazard so my apologies, any chance of any advice? Might make this a debt journal too.

**** Just before people mention the bus, I cant catch the bus to my job where I work shifts, and no workmates live nearby, so it wouldnt be feasable, I also couldnt cycle (although I would love to, as I live 20miles from work.)
April £10= member no 145 £1419/£300
May £10= member no 58 £1013/£310 (15th May)

Comments

  • reevo8
    reevo8 Posts: 48 Forumite
    Where it says £600 back pay, thats after tax, direct debits payed I will have £1200 left next month, before food etc.
    April £10= member no 145 £1419/£300
    May £10= member no 58 £1013/£310 (15th May)
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