Thank you ....

rubydoiwannabee

Hi everyone, well here we are one week on... and I seem to be in limbo!!
I have the paperwork to change the mortgage over, the emails with the new life assurances quotes, application for 0% credit card and haven't done a thing with them!! I have been trying hard to chill out and it has made me completely inactive. Have had a mad week at work though. I think I am going to write a to-do list and tick one off a day.

Whilst writing though I could do with some more advice please... the bank account that we currently use has a whopping overdraft and we pay some off everyone month when salaries go in and then by the end of the month we are back where we started. I am trying to decide whether it will be better to move all our SO and DDM's over to a new account and start again and set up a SO to the overdraft each month? Or should I ask our current bank to reduce the overdraft limit by £50 each month?

The trouble is I get paid monthly and OH weekly, so there are some weeks of the month that we do need the OD for a few days or so.... Should I ask my bank to move the debt off the account and let us have a smaller overdraft that must be cleared every month?

Not sure what to do for the best, any advice?

rubydoiwannabee

Hi everyone,
I have been contemplating writing a daily diary but have for now will update this thread.

Here we are in August and things are going ok, pretty good really. We are well into our 2nd month of using a new bank account without an overdraft whilst paying a standing order each month to the one we left behind. We are putting money aside every week for things like car tax, school bus pass for DS, childcare, xmas etc and this is going well. But more importantly we are seeing our debt total come down... slowly but surely.

My challenge now is twofold:

I need to find ways to make £30 a week every week to pay two of my priority debts off.

The 1st is a 0% cc that has a balance of £573 on it. The 0% runs out in Feb 09 and I want this cleared by then. At the moment I am paying £50 a month, but have worked out that I need to pay approx £82 per month to it to clear it by feb, so that is £8 extra a week.

The 2nd is the OD we have left behind this has a whooping balance of £4950 on it (limit £5000), I am only paying £70 a month to this and the interest is approx £50 monthly, so I would like to be able to afford to pay a min of £150, so that the balance is decreasing by £100 a month. So that means another £20 a week.

Both OH and I have asked for extra hours at work and my aim this week is to ebay like mad. Any other suggestions gratefully recieved.