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What to pay off with a loan.. please help!

29 replies

Greenfingeredfun · 10/10/2016 13:42

I've had a credit card for years and years now. The balance was originally £1000. I've got it down to £535. But almost every month I stick a tenner fuel in or so when I'm skint. I pay £30 a month off it but £13 of that is interest. So it's never really going down. I applied for 0% credit cards but been declined. Instead Ive taken out a loan over 2 years to pay it off which costs £49pm. At least this way it will actually get paid off as I can't keep spending with it. So what to do with the remaining £465? I've got a balance of £482 on littlewoods, which costs me £80 pm. It'd be nice not to pay that off each month but it's on 0% so not sure if I'd be daft to do that, but it'd give me breathing space. Or pay off my £300 overdraft but that's only £10pm and I could decrease that gradually. Or I could pay it off my £166pm car finance which would mean it'd be paid off in December instead or March..
I don't know what to do! As you can tell, I'm not very good with money.

OP posts:
Mum4Fergus · 13/10/2016 15:11

And here is me stressing about managing with £63pw, for two of us Blush

Greenfingeredfun · 13/10/2016 16:12

I use a lot of basics! Most of them are great, but there's been a few items I've tried in the past where I've had to go back to the bigger brand because it's not worth the saving.
Sainsbury's tea bags, dishwasher tablets are amazing. Morrisons own furniture polish is great and their toasty loaf for 50p is on par with hovis for example.

OP posts:
Fluffycloudland77 · 13/10/2016 16:13

I'd clear the littlewoods balance when you get paid, the car will finish anyway.

Littlewood accounts can trip you up. Dh has had dealings with them too.

Mum4Fergus · 13/10/2016 17:59

I've only a Tesco or a very expensive local shop near me...drop all brand names and stick to own brand Smile

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