Monzo Loans

Older_Not_Wiser wrote: »

I’ve come on here to thank the OP for some information that I found useful. I have not headed over to the other boards as that’s not what I’m looking for, if I had then I would maybe expect a lecture.

I do put money away regularly for maintenance, but having some vandal damage the mirror the on car and cut my tyres isn’t a planned for situation and not worth trying to claim on my insurance as I don’t want to affect my premium.

The recommended amount of money to have in an emergency fund is 6 months earnings. This would have easily covered 4 new tyres and a new mirror.

You obviously have very little money saved up which put your in a very financially precarious position. So that's why i said you should review your budget. I'm just giving you some advice so you can sort out your situation before you possibly get into trouble in the future. Prevention is better than cure.

Older_Not_Wiser wrote: »

Just because I have not applied for more credit in the last two years does not mean I have poor credit. I am pre approved for a number of other cards but the loan suits me better to clear the debt for myself, longer period and such a minuscule amount I will barely notice it.

Not applying for credit is a good thing. If you already have credit cards and had used them well over the last few years you would now have a good enough credit history to get an interest free credit card offer. The fact that you can't get this shows your credit reports are less than great. At the moment your are unnecessarily paying for interest on a loan because you haven't budgeted to save money.