White goods shock -Limited 0% 4 mths

Dandytf · 13 July 2019 at 4:44PM

Forgot to add -too risky to run machine with leak for a few weeks or months due to 2 flats below mine and getting very noisy.
Trying my best at least with help2save -with intention of paying down some CC debt next year and if I can avoid the new rules then I'll run it four years max -though considering 27 and 36 months permanent debts rules -I don't think I'll get to keep it until year four.

Terry_Towelling · 13 July 2019 at 5:10PM

Kitchen floor is, as you say, not a pressing issue. This is a home emergency (so to speak) and is exactly why you should use the money in the VM account. You can rebuild your emergency fund by using the credit card repayments that you won't have to make. If any other emergencies crop up, you can use the credit card to pay for them. If no other emergencies crop up, you'll not be in any further debt and will be steadily rebuilding your savings.

Dandytf · 13 July 2019 at 5:14PM

Kitchen floor is necessity at least kitchen units are fine,thankfully.

A4445 · 13 July 2019 at 6:03PM

Creation runs the your account for Curry’s.

PayPal credit are very tolerant to bad credit. They have even accepted people with bankruptcy’s nothing to lose trying?

Dandytf · 13 July 2019 at 6:17PM

A4445 wrote: »

Creation runs the your account for Curry’s.

PayPal credit are very tolerant to bad credit. They have even accepted people with bankruptcy’s nothing to lose trying?

Thanks what's the best way of trying since I have the machine ordered and paid with credit card.

Dandytf · 13 July 2019 at 6:24PM

Decided not to try PayPal whilst apr is lower the same 4 months 0% is on offer so no immediate benefit.
Thanks

Terry_Towelling · 13 July 2019 at 8:50PM

I missed the sneaky 'full stop' in your post about the kitchen floor being a necessity and so misinterpreted your meaning. So not intending to be intrusive, but what ever happened to the kitchen floor to make its replacement a necessity?

My own kitchen floor could do with re-covering but I've left it for a good 10 years so far and it still works. If I ever need to sell the house, I'll maybe get it done, but until then it can wait. Just had to replace the hot water cylinder because the old one had decided to convert itself into a sieve. Even then I considered patching it up but there were just too many pinholes appearing.

Anyway, one thing I would recommend is when the guys (or girls) are installing your machine, pay careful attention to what they are doing, so that you will know what to do for future and won't have to spend £20 paying someone to do it for you - it really is very straightforward.

And finally, when you call up to register your appliance, they will try to flog you a warranty that covers accidental damage. You may find your contents insurance already covers this and any other faults will be covered by the manufacturer's warranty. I'd not take out the warranty offered but wait until they start sending you warranty offers nearer to the end of the first year and then consider whether you really need one.

Dandytf · 14 July 2019 at 8:18AM

I'll sell flat eventually making kitchen floor necessity to replace.
I forgot to ask washing repair man yesterday if he could disconnect both new machine and cooker when my floor is to be worked on-I won;t manage those myself as I have m.s.or I can contact a local handyman.
I ordered machine online,only extended warranty I'll get offered is by post or e-mail.

Stuart_W · 16 July 2019 at 5:00PM

I personally think you might need to rework the maths of keeping the Help2Save account going at full pace (£50 per month) in order to get the £600 bonus after 2 years and further £600 bonus after 4 years.

If you've got much debt at 34.9% you could be better off paying that first - depending what your paydown plan is. The cash bonus received from Help2Save could be lower than the amount of interest you've paid on credit card debt when you actually had the cash elsewhere.

Loosely speaking, Help2Save is equivalent to a regular saver account paying 23% interest if you pay in the full balance for the full term, so it could be worth keeping at full pace, but not with much 34.9% debt.

Martin briefly covers it in the Help2Save article.
https://www.moneysavingexpert.com/savings/help-to-save/
The maths of reducing debt or saving is not as straight forward with H2S accounts based on when you will get the bonus and the impact reducing payments in now might have - but dreaming of that £600 bonus really is a waste of time if you've paid more than £600 in extra interest waiting for it. Usually the maths is simpler but not always so with H2S.

Dandytf · 16 July 2019 at 6:48PM

Thanks @Stuart_W

Whilst I have been reminded a considerable amount of times over past few years, that paying off debt as priority over saving.
I have intentionally made an attempt at saving something 1st this time as I'm not a natural saver.
It seems to have gone very well, even found new habit of placing some extra cash into VM e-saver to use as car/home Emergancy type fund -before I would have used what I had at the time.
No excuse for slowly increasing CC debts -though I haven't stopped in pursuing essential home fix's as such -only on the basis I aim to have my flat viewable and marketable in very near future.
H2S -slightly gutted it's only running by the gov until 2023 or 24 and then closes permanently -no opportunity to re start after it closes -though I didn't even have the sense to save at least 50 pounds per month previously.
At very best 4 years max I could wipe away 2 highest balances and close if required.
If not and only year two -I could either wipe away one highest balance or half two highest balances -that will take some extra thinking nearer the time with potential of lowering re payments.
For the sake of now attempting to make it to April 2020 -I think it could be best to continue.
I always keep in mind that something can change that's not Necessarily within my control.
The 600 interest calculation -can't think immediately though guess from both cards it could very well be more interest.
I have another small consideration which I had been intending to add to CC debts from Nov2019
Small personal loan almost finished 55 pounds per month -that can go on one or split between both highest balances. -small though could be useful.
My budget is very tight sometimes using credit -that's the way it is for next few years. Though I'll keep going and add what I can to increase CC repayments.
Thanks all mser's info welcome

White goods shock -Limited 0% 4 mths

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