So time to review where I am financially.
Credit card 1 has increased slightly after I did the balance transfer. I have to pay a balance transfer fee of £20.36, which is a percentage of the total balance. I paid £31.01 off it this month, but the rest got eaten up in interest. But for 16 months the card is interest free so everything I pay from now on comes off the balance without interest charged.
Car Loan £334.00 It will be paid off by April
Overdraft £300.00 Need to look into cost of the overdraft per month
Credit Card 1 £514.12 £3.18 in interest
Credit Card 2 £710.36
TOTAL DEBT £1858.48
Previous total £1990.80
Reduced debt by £132.32
A reduction of 6.65% in January 2012.
I will be paying off a larger proportion of my debt in February. In January I had bigger overheads - utilities and a double month on the service charge for W Towers.
Do not forget February and March are council tax free if you pay monthly. I pay circa £75 per month so currently I am deciding whether to save this money or pay it off my debt.
Conclusion – I need to pay off more each month to reach my target of being debt free (not inc the mortgage) by the end of 2012. Paying off £161 a month means it will take me 11.5 months – not acceptable. I need to find a way of being able to eek a little more into paying off the debt when the commission is not happening at work.
Thinking cap on.
You probably have noticed I love a list. Here was my “To Do List” for this week.
Put DVD on Freecycle-Both were picked up tonight.
· Sew buttons on – Damn it, this weekend…. I promise
Here is my list “To Do List” for the weekend
· Sort out photos from holiday in 2010!
· Sew buttons on trousers and coat
· Bake bread
· Bake a lemon cake
· Make another sausage casserole in the slow cooker
· Clear another kitchen cupboard
· Empty clutter from the hall.
Made do today with the coke and crisps from my jaunt to Poundland earlier this week, but will have to grab a drink tomorrow. But I did have to stop at the shop on the way home and grab some mushrooms and a garlic bulb for the paghetti bolognaise I cooked for The Chap and I. So the £7.50 got blown. I spent £5.11. But I did pick up some posh lamb and chilli sausages reduced from nearly £6 to £1.75. Straight into the freezer for a casserole another day.
When I did arrive home the door had been fixed, Great! Here is the before picture. Like my tarpaulin handiwork? No after picture I am afriad.
Not a bad day world!