Friday, 21 March 2008

Finally my total debt is below twelve thousand, it hasn't been this low since about June 2006! So I do feel I am getting somewhere again and I still have two more pay days this month, plus I get time and a half for today and Monday. So the final balance for the month is yet to come which makes me very happy. Happy dance when I get under ten thousand!!

Saturday, 15 March 2008

Mid Month Update

Looking at my month by month debt figures since last June shows a steady downward tread, which is wonderful but I seem to have gotten stuck at the twelve thousand mark and don't seem to have have move from it since December. This is not so good and is getting me down a little. I really need to up the anti, as I have to start getting some extra monies put aside for my holiday in May which will be a full three weeks off work. I will need to cover all my direct debit payments and other monthly expenses for that time.
I really had planned to have my debts down to under ten thousand by now but the best laid plans and all that! Next weekend is Easter so I will get extra monies for working through, that will be a great help as I am taking a weekend off in the beginning of April to do this seminar I have spent so much money on. Would love to get some one to come with me for the three days but all my friends are either working or have kids. They can't afford or are unable to take the time off and so, they can't come and aren't really that interested in buying property. House prices in the South East of the UK are sky high - who can afford a mortgage and a family?
One thing that is looking good is that by August all my bank loans will be paid in full. Okay, so I transferred most of one loan onto a credit card but that was to reduce interest charges. Still, either way I am please to know that I have not re consolidated my loans with my credit cards as I have done in the past.
At the end of the month I will be under twelve thousand which will be an achievement of sorts.
The March challenge I have taken up (see my February post) has been quite good, not perfect mind, as I did spend 0.95p on a smoothie drink last Sunday. That has been my only slip so far and at times it has been an effort not to just stop in at Costa for a latte, or at the village bakery which always smells so divine when I walk past. I am sure I have saved myself some money but could only guess how much. It's not showing up on the scales yet which is a drag.

Tuesday, 11 March 2008

A Credit Crunch Surprise

Although toady's Daily Telegraph is full of the upcoming budget I am sure that the end to the 'Credit Crisis' would have been mentioned?
Why do I ask this?
I have just noticed that my credit card balance limit has been increased by £1000.00, something which has happened since I transferred a large balance onto the card last week. I haven't received anything in the post to advise me that is was going to happen, which is the banks usual practice. And as we are in a 'Credit Crisis' and loans, mortgages etc, are getting harder to come by why are they increasing my credit card limit?
I contacted Experian last week and did checked my latest credit score - WOW it is up 185 points and that doesn't yet take into account the fact I am back on the electro roll. Mind you the report didn't list all my open debit accounts so I don't know if they are even taken into account. It's £5.95 a pop to view your credit score - which is daylight robbery as far as I am concerned. So I will wait a month or two and see then if there is any further changes.
But at the moment it seems my credit is very good - crisis or not.

Monday, 10 March 2008

Interested In Interest

Credit cards with zero balances are dangerous things as it is so easy to just make that one purchase on the card and well - if your in for a penny, suddenly it becomes a few thousand pounds. Well that has been the case in the past for me but no more.

No, I am now more interested in the interest. And my empty credit card card had an interest rate of 3.9% for balance transferes which I think is very good. It is better that the current rate of interest I have on my second credit card and that particular card has send me credit cheques.

Yep I am into a major shuffle with my debt balances as I want to get rid of my Flexiloan account balance. It has a current variable interest rate of 16.8% - ouch! I can't see that going anywhere but up in the near future. So if I could half it would that be a good thing?

Now I know every one goes on about zero precent credit cards and they are great, just the ticket and all that but the chances of moi getting one is zip.

Transfering a credit card balance or a store card (if you mad enough to have one of those) balance is very easy but loans are a different story but credit cheques are the answer if I want to get rid of my Flexiloan.

The credit cheques have a 3% handling fee and a 8.94% interest rate for the life of the balance better than the 16.8% I am currently paying! Tomorrow I shell use a cheque to clear the majority of my Flexiloan which will then become my number one taget for snowballing.

So what do you think? Is this a bad move or what?

Thursday, 6 March 2008

Rome City Break

Rome was a blast and my god-daughters and I had a great time visiting the sites and enjoying people watching from street cafeterias, eating ice-creams by fountains and generally being tourist.
But I have to confess I did go over budget and my current account overdraft is now maxed out.