Wednesday, 10 December 2014

One Step Closer

Another goal ticked off!!! I have paid off my Flexiloan and closed the account!!!
Yes - getting rid of credit is only a good thing. My Flexiloan account was keeping me indebt and costing my hundreds of pounds each year in interest. I cancelled the account at my banks local branch, using their phone to save myself money and was asked, "Why I was closing the account?" I gave my reason as - no longer needing the credit facilities.
I now have to get rid of the £300 overdraft on my current account (aka checking account) and I will then have cleared all my credit. That will kill my credit score for sure! I will have to have a check that out next year some time.
I've got Baby Step 1, my Emergency Fund account back up to £1000 and now need to clear my final debt, an unsecured loan which currently stands £1840.26. My current plan is to pay that down by February and then get on with Baby Step 3 - Save up 3-6 months expenses - in my case that will be about £6,500. So taking into account my current Emergency Fund, I will need to save £5,500 which will take me at least a year because I am also working on Baby Step 6.

But before I can get any of this great stuff done I have first to get past Christmas and my Tax bill which is due on the 31st of January 2015.
                                                        Such fun!!

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