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  • FIRST POST
    • snorfing along
    • By snorfing along 26th Jun 13, 3:56 PM
    • 44Posts
    • 102Thanks
    snorfing along
    The dreaded D word
    • #1
    • 26th Jun 13, 3:56 PM
    The dreaded D word 26th Jun 13 at 3:56 PM
    It's time that i started to tackle the debt that i have run up on a few credit cards and a loan, which now totals about 13,000. I meet at least the mimimum payments and i have never missed a payment or incured any fees or charges and it is broken down as below:

    Natwest CC (0%): 450.33
    Barclaycard CC (0%): 5190.00
    Tesco CC (0%): 1200.00
    M&S CC (0%): 1200.00
    Santander Car Loan (9.9%): 5048.00

    I have decided to sell my car and pay off my car loan and then with any remaining cash buy a cheap run around (Hopefully i can get about 6,500 for my car and spend 1,000 on a new one so i will have another 500 to pay off). Also i am changing job in the next few weeks so i should be paid for my un-used holidays, which should be about 600 after tax and N.I.

    After all that i will probable have in the region of about 7,000 left to pay off. I usually pay off 315 a month, (at the moment this includes the loan for my car) and i will be getting a pay increase at my new job so i should have an additional 80 a month to pay off, so by this time next year i should have hopefully paid off 4812 leaving me with just 2100 left to pay off, which i might be able to clear 1000 of that by paying off a little extra and a bonus from work, fingers crossed i can stick to this now, I do have my best friends wedding to attend next year so that will mean a new dress, night in a hotel and a present but i'll try put money asside for that in the new year.

    Can anybody offer me any additional advice or see any holes in my plan? It's seems quite easy now i have written it all down but i'm sure in reality it will be a bit more difficult to stick to
    Last edited by snorfing along; 26-06-2013 at 4:16 PM.
Page 2
    • snorfing along
    • By snorfing along 13th Apr 18, 12:55 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Starting budget again for next month as I my statements start to come through. Does anyone else get bored of waiting for pay day just so that I can pay down the debt?
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • onedaysomeday
    • By onedaysomeday 13th Apr 18, 2:47 PM
    • 398 Posts
    • 604 Thanks
    onedaysomeday
    I agree! I spend so long looking at my budget spreadsheet waiting for payday to come around to actually update anything
    • snorfing along
    • By snorfing along 17th Apr 18, 3:30 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    So I have my fingers crossed this week that I'll receive my salary review letter and hopefully it'll say I've got a pay rise, I wasn't really expecting it but any extra will be nice and it'll be in this months pay, also I think a bonus of 5% is given but I'm not sure when that's paid so I'll start to have a think about what to do with it
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • onedaysomeday
    • By onedaysomeday 17th Apr 18, 4:05 PM
    • 398 Posts
    • 604 Thanks
    onedaysomeday
    Yay for a bonus - I need to find a job that does that hope you get a pay rise!
    • snorfing along
    • By snorfing along 19th Apr 18, 2:52 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Pay rise confirmed of 700 which is good so now just waiting for confirmation of a bonus but I think this more likely to be next month.


    In other news we have booked a holiday for September so I need to do a bit of careful budgeting to cover it but I can't wait
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • snorfing along
    • By snorfing along 23rd Apr 18, 2:48 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Feeling massively stressed and anxious today, had a problem with my car this morning and had to call the recovery company to come look at it and they got me going again (only took this out a month ago as my car is getting older), but my car is going into the garage on Wednesday to be looked at and hopefully fixed but it's another expense I really don't need at the moment.
    It really fells like there is too much going on at the moment, my dog has a tumour and is going in for a biopsy tomorrow, I'm so worried about him. We have insurance to cover the cost but that's with the vets to do their bit before it gets sent to the insurance company (I'm assuming it'll get sent off sometime soon when they know what the treatment will be etc.)
    Still trying to sell the house but not much is happening at the moment, we've had a few viewing and an offer but it was ridiculously low. Also because we want to move we can't really change the car (if we weren't looking to move I would have looked at changing the car early this year as I feel it's going to need more repairs going forward) because I want to keep our affordability good for the mortgage application and I don't want to have to delay if somebody decided to put in a good offer on the house tomorrow but I've just taken out a personal loan for a newer car.
    Finally we want to have children and because it's not happened for us yet, it really feels like life is on hold waiting for something that might not happen, and this makes me feel sad


    Sorry for the long ranty post but I have a few things going on and I need to get it all out
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • onedaysomeday
    • By onedaysomeday 23rd Apr 18, 3:08 PM
    • 398 Posts
    • 604 Thanks
    onedaysomeday
    Fingers crossed things turn around soon for you - I often find everything happens at once when you're waiting for lots of things to happen so hopefully this is soon for you
    • beanielou
    • By beanielou 23rd Apr 18, 6:31 PM
    • 53,923 Posts
    • 213,418 Thanks
    beanielou
    Cars are money pits
    Sorry about your dog
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • snorfing along
    • By snorfing along 24th Apr 18, 10:24 AM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Thanks Beanielou and Oneday

    Taken my dog to the vets today for his biopsy and he was shaking like a leaf poor little guy, I'll be glad to pick him up this afternoon. It's so quiet in the house without him
    Feeling a bit more positive about things today after yesterdays mini melt down and only 2 days to payday so I know what my new wage will be and i'm going to make a note of the deductions like student loan repayments and how much get paid into my pension
    I actually need to have a look at my pensions ( I have a collection of about 5 now) and see if it's possible and worthwhile to put them into 1 pot? (want to put a thinking smiley here but I don't know how!)
    Anyway on wards and upwards (and downwards with the debt)
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • beanielou
    • By beanielou 24th Apr 18, 10:28 AM
    • 53,923 Posts
    • 213,418 Thanks
    beanielou
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • snorfing along
    • By snorfing along 25th Apr 18, 11:55 AM
    • 44 Posts
    • 102 Thanks
    snorfing along
    I've transfer the balances of a couple of my smaller credit cards to my Barclaycard as the 0% was due to run out in a couple of months and with some annual payments coming out in June I wanted to make sure that I would have enough money to cover them. There is my car MOT and whatever work needs doing to it, car insurance, house insurance and i need to save some spending money from my holiday. I think it'll be good to have just 2 credit cards as I can see more of an impact when i'm paying them off so tomorrow i'll update my signature again when I've made my payments and I might add my savings pot as well
    Thinking about it I could do with a couple of extra account 1 purely for emergency funds, 1 for annual payments and a 3rd for holiday money. I think i'll have to write down what lives where tomorrow until I can open a couple of extra accounts
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • onedaysomeday
    • By onedaysomeday 25th Apr 18, 12:41 PM
    • 398 Posts
    • 604 Thanks
    onedaysomeday
    I have a few accounts for different bits which is something I've set up recently
    I have a second current account that I used to save up for the car and will be used for purchases I save for, deliberately has no online banking access so i cant just ping money back over
    I have 2 barclays savers that were linked to an old (now closed) account that receive money for gifts in one and car maintenance/dentist etc in the other
    And lastly a Tesco Saver for an EF
    Debt paid 1780.76 / 7180.59 (24%)
    CAR SERVICE CHALLENGE: 21/154 BY 5/6/18 (13.5 %)
    EMERGENCY FUND: 0 SAVINGS POTS: 0
    • beanielou
    • By beanielou 25th Apr 18, 1:35 PM
    • 53,923 Posts
    • 213,418 Thanks
    beanielou
    Good news on only two cards.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • snorfing along
    • By snorfing along 25th Apr 18, 2:25 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Thanks Beanie

    OneDay - I think having accounts that I don't have access to would be great for me too, it's so easy to move money back over to spend when it's all with one bank I might have a look at setting up at least I saving account with a separate bank. Thanks for the great idea
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • onedaysomeday
    • By onedaysomeday 25th Apr 18, 2:56 PM
    • 398 Posts
    • 604 Thanks
    onedaysomeday
    You're welcome! If I ever feel tempted I just give the physical card to someone else, and I also keep OH's credit cards so he doesn't spend recklessly but they are there for emergencies
    Debt paid 1780.76 / 7180.59 (24%)
    CAR SERVICE CHALLENGE: 21/154 BY 5/6/18 (13.5 %)
    EMERGENCY FUND: 0 SAVINGS POTS: 0
    • snorfing along
    • By snorfing along 27th Apr 18, 1:04 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    I've just put one of my cleared cards into a draw so it's only there to be used for a balance transfer if I really need it.

    Payday yesterday and I lowered my planned payments this month in favour of increasing my planned spend/emergency fund, I really do need another savings account! So i'll update my signature later with payments and balance transfer shuffles.

    In other news my car is still in the garage, dropped it off Wednesday morning and it's still there I don't think anybody even looked at it on Wednesday or Thursday, hopefully it'll be sorted out today. I live a good few miles from my nearest town so it's quite inconvenient not having it plus I've not been able to get to the office for work so I've had to work from home instead which is ok, but it's a bit boring and lonely after a day or two!
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • snorfing along
    • By snorfing along 30th Apr 18, 3:10 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    I got my car back and the garage couldn't find anything wrong, so they put some extra oil in it but they haven't charged me anything yet. They said drive it around for a few days and see what happens.


    Also my pay rise only actually added 7 on my wage, but my contribution to my student loan has gone up about 5 and I think there is more money going to my pension. I'm going to get out last months pay slip out this evening and have a look


    It's shaping up to be a bit more of an expensive month as I have to pay 110 to my old gas and electric supplier as we have been using more than anticipated but it's not surprising with all the snow that we had, I had quite a lot of days working from home and needed the heating on
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • snorfing along
    • By snorfing along 2nd May 18, 3:30 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Good news - my dogs tumour is benign, so he can have an operation to have it removed and he should be as good a new!


    We have also reduced the price of our property by 3,000 so hopefully we might get a few more people coming to view and an offer


    I have opened a second savings account and transferred the money I'm saving for my holiday into one and the emergency savings/annual insurance pot has everything else in, I was hoping to be able to pay off the holiday bit by bit but they payment needs to be made in one go so I'll have to save it all up and not touch it, at least my accounts will look very healthy
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • snorfing along
    • By snorfing along 2nd May 18, 3:31 PM
    • 44 Posts
    • 102 Thanks
    snorfing along
    I updated my signatures as well but changed how I'm recording the outstanding amounts, I just want the totals as it makes more sense to me and I'll delete the cards when I've paid them off
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
    • snorfing along
    • By snorfing along 11th May 18, 11:56 AM
    • 44 Posts
    • 102 Thanks
    snorfing along
    Feeling really fed up with everything at the moment, still 2 weeks till payday and really want to have a spend and treat myself to some nice things. Maybe I'll just be practical and book my MOT, it's due next month but I can get it done this month then at least it's out the way for another 12months
    Barclaycard: 8970 Tesco: 2995 Yorkshire Bank: 35
    Total debt: 12,000

    Weight loss journey - 5/13lbs
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