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Unsure whether to consolidate - please advise

edited 30 November -1 at 1:00AM in Loans
244 replies 102.6K views
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  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud!
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    Verbatim wrote: »
    Wow fabulous holidays and all budgeted for, or no debt involved anyway. Enjoy!

    Thanks Verbatim (you've always followed and supported me on my journey).
    I just have to make sure that I keep on top of stuff. If I have a month with not many outgoings, it can be a good £750 going into the savings account. This is only possible though because of my tight management and getting my debts down in 2017/2018 which I'm still proud of.
    I would rather pay upfront for all these things though and sticking them on an amazon credit card has so far got me a £40 gift card!
    Savings as of June 2020
    Savings account 1 - £14081.15(14063.93)Savings account 2 - £4500.00(4000.00)
    Current account - £4116.53(3136.31)
    Total - £22697.68 (19453.38)
    Plus £840 (£120 per month between CS/BS) HTB £600
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud!
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    Dobbibill wrote: »
    No words of advice, you are doing brilliantly.

    Lots of trips to look forward to.

    Do you put money away specifically for holidays as part of your budget? That might help take the strain off a bit - a holiday fund/pot.

    A huge well done though - to think how far you have come, it's amazing.

    Hi Dobbibill and same as I said to verbatim, you've been there all the way through my journey. I'm extremely grateful. Because of this financial management, my OH and I are going to move into a bigger place in August. I want a bigger flat and nicer kitchen. I'll be paying the extra rent but I can absolutely afford this. Yes we could stay where we are and save myself £250pm but we've outgrown the place really.

    I don't put away the money for these big one offs because I know I have the funds. Yes it is a big amount but my income/outgoing ratio is decent so it isn't really that much of an issue but something i'm aware of.
    Thanks once again.
    Savings as of June 2020
    Savings account 1 - £14081.15(14063.93)Savings account 2 - £4500.00(4000.00)
    Current account - £4116.53(3136.31)
    Total - £22697.68 (19453.38)
    Plus £840 (£120 per month between CS/BS) HTB £600
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud!
    ✭✭✭
    Hi everyone - just checking in with you all. If any mods are reading this, can they remove comments which are totally unrelated to this story? Like the above one?!
    Anyway, I'm totally lost as to how to class my savings as I put things on the CC and pay off in full the month after. This has got me £40 in amazon gift card which is great, but it does knock onto clarity with my finances.
    So I think with my signature I'm going to just make it what is in my savings accounts on credit in my account on payday.
    Hoping this will work but I'll copy and paste my signature at the moment, just in case I change my mind!
    Thanks for reading!
    Savings End March 2019 £2937.61
    September 2018 £986.09 October 2018 £1254.04 November 2018 £27.00
    December 2018 £21.14 January 2019 £1448.92 February 2019 -£1528.04
    March 2019 £728.46
    Savings as of June 2020
    Savings account 1 - £14081.15(14063.93)Savings account 2 - £4500.00(4000.00)
    Current account - £4116.53(3136.31)
    Total - £22697.68 (19453.38)
    Plus £840 (£120 per month between CS/BS) HTB £600
  • VerbatimVerbatim Forumite
    4.8K posts
    Part of the Furniture 1,000 Posts
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    All looking good ZG&B. It's a good dilemma to have: how to record savings! Enjoy the bh weekend.
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
  • DCFC79DCFC79 Forumite
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    Part of the Furniture 10,000 Posts Name Dropper
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    Zippy Ive reported said post as spam so hopefully it will get removed.
  • edited 5 May 2019 at 10:52PM
    zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud!
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    edited 5 May 2019 at 10:52PM
    Thanks Verbatim. I hope you are well. I've been baking all day! (Whilst watching the snooker)
    So another major purchase I'm making is a kitchen device which costs £1099. I have borrowed one for a week to see what I think about it, and it's ruddy brilliant.

    I have already paid for this on the aforementioned CC and this comes out of my account in May.

    I'm now looking into selling my rare Yankee candles and I'm going to knock off in my head the monies I recover from these off the £1099 and see what's left.
    Savings as of June 2020
    Savings account 1 - £14081.15(14063.93)Savings account 2 - £4500.00(4000.00)
    Current account - £4116.53(3136.31)
    Total - £22697.68 (19453.38)
    Plus £840 (£120 per month between CS/BS) HTB £600
  • Your credit score albeit axcellent doesnt mean anything when it comes to lenders since they dont see it, they see the history.

    Your reports with the other 2 agencies will show you a different score anyway.
  • zippygeorgeandbenzippygeorgeandben Forumite
    1.2K posts
    Part of the Furniture 1,000 Posts Debt-free and Proud!
    ✭✭✭
    Hi everyone,
    Just giving you a monthly update.
    I've a lot of money coming out of my account this month due to me and my OH moving flats. He can't really afford to go halves with the move so I'm taking a lot of the costs. I overspent by £713.71 this month but I do have a buffer in my account. I'm still contributing to savings each month and, well, I have my eye on the ball. Lots of things happening though this year but I've got through a couple of expensive weekends at least.
    It's the house move which will be a big factor though. Moving company costs, need new furniture (sofa/bed etc) so we will see how it lies. I guess though that all that hard work I did with the tutoring and paying off debts means I have this money to spend on things needed. I would rather it be this way round instead of having to borrow off CCs etc. and I'd rather use savings on a nice bed and sofa if I'm honest!
    Thanks for reading, lets hope the next update isn't too bad (but it will be I know!)
    Savings as of June 2020
    Savings account 1 - £14081.15(14063.93)Savings account 2 - £4500.00(4000.00)
    Current account - £4116.53(3136.31)
    Total - £22697.68 (19453.38)
    Plus £840 (£120 per month between CS/BS) HTB £600
  • edited 1 July 2019 at 1:50AM
    Alex^Alex^ Forumite
    5 posts
    edited 1 July 2019 at 1:50AM
    i was in a similar situation a couple years back over 20k, i have a extravagant lifestyle - trired everything, giveing my cards to my mates etc

    it still didnt stop me, the only way to get past is, is to own up, and tackle it head on, ok i did get a big loan to pay it all off and its gonna cost me for 5 years, but since then (other than the load) everything is paid on time

    its all about will power (which is easier said than done)
  • Alex^Alex^ Forumite
    5 posts
    i notice u have some savings, try to put them into ur debt it works out better in long run
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