Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Which debt to clear

29 replies

bellalou1234 · 13/01/2022 08:42

Iam useless with money and have ran up various debts. I'm working as many over time shifts as I can to pay my debt off. Unfortunately I'm now paying interest on credit cards that were interest free. I've got bad credit due to the amount I owe, I've never missed payment ect.. so hoping after 6 months I might be in a better position.
My question is I'm going to pay 3000 of my credit card debt, which would be best
Mbma 7300 paying interest
Or mbma 2390 clear it and pay remainder of larger debt where the interest in like £95 per month?

OP posts:
notacooldad · 13/01/2022 14:41

I've gave myself an allowance of £150 per month to live off, petrol food ect. My petrol is my biggest outgoing but a necessity. I've stopped all take aways. We used to be ridiculous. Using up food and making an evening to use for lunch

Have a look at the 'too good to go' app.
I was I your position many years ago. You've only got two debts ( I know they seem big but they are nothing tou cant overcome. I had loads of relatively small ones si the sensible thing would have knocked off the high intesrt but i liked having the little wind if having another debt gone!.
My days of debt are long gone but I almost enjoy living frugally on a day to day basis ( making a tenner last as long as possible no costa or Starbucks for the sake of it, no incidental spending etc) and occasionally having a good blow out.
You'll soon get into the habit of spending less. Dont see it as som6to be endured but more of a personal challenge!!!

bellalou1234 · 13/01/2022 17:43

Thank you everyone for your useful tips, so helpful. Too good to go website genius..toby carvery are doing vegetarian dinners for £2.29!!

I have x 2 loans one a car loan and another one for home improvements and this and that. I over pay each month on one. I also took a car loan out for my daughter when she was a student nurse on placements in Carlisle where I reliable car was vital no she's qualified she pays it each month, however my credit score looks like I've more than I have.

OP posts:
AnotherMansCause · 13/01/2022 17:50

Also look at Olio - depending on where you are sometimes you can get free food or other things on there, short dated or other stuff people have just decided they no longer need. AFAIK people aren't allowed to offer out of date food.

SD1978 · 13/01/2022 17:53

As interest rate is same, I'd pay one off completely-
Thereby halfin the interest needed, then concentrate on the bigger one

New posts on this thread. Refresh page