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what to do

10 replies

nnnamechangeddd · 14/02/2015 23:25

I have just over £1000 coming my way in a few weeks (one of my relatives passed away).

Should I use the money to pay off part of my credit card (£4k) or should I add it to my ISA. My credit card is 0% interest until August.

Thanks

OP posts:
ClearlyMoo · 14/02/2015 23:32

Pay off your credit card. Without any doubt. There is NO point "saving" if you're in debt.

RandomMess · 14/02/2015 23:35

Save the money somewhere you can access it in August and then pay off your card. Although the interest rates are so low you could argue it's not worth the hassle!

Allalonenow · 14/02/2015 23:41

Pay off the credit card.

Once you've cleared the credit card debt, don't let it build up again!
Consider a monthly saving plan, even twenty pounds a month builds up over time to a decent sum.

YorkshireTeaandCake · 15/02/2015 18:55

Pay off the credit card ASAP!

everythingsgoingsouth · 17/02/2015 17:19

zap the credit card :)

Teeb · 17/02/2015 17:21

Pay off the card, ideally completely if you have other money in your isa.

Brams · 17/02/2015 17:49

Pay off the card. Even if the balance is interest free to August you will find you're paying interest at some point and cards' APR is up there in the 20%++ range. So clear it ASAP and if you've anything saved earning lousy rate use that also to clear the card. ALWAYS clear debt before saving. You'll sleep easier too!Smile

MsAspreyDiamonds · 18/02/2015 12:43

As others have said, clear your debts before saving and then save for a rainy date and spending on treats.

Have you tried the app YNAB (you need a budget) it's very useful for identifying where your money goes & making savings to cut debts.

TalkinPeace · 18/02/2015 21:19

CREDIT CARD

ridinghighinapril · 18/02/2015 21:39

Credit card, without question.
Then put the remainder in your ISA.

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