kingleds
Gold Member
tpals is right - it doesn't make sense to get more credit to pay off credit. If you can see that in the long term you can pay off more than minimum payments, then don't go anything drastic. Carry on paying the minimum payments and when you get back to full time work work out a budget.
I now have a spreadsheet which details all my outgoings each month. I then input how much I'm getting paid (I get commission in my job so it varies each month), and how many weeks there are till the next pay day. It then tells me how much money I can spend each week. I withdraw that amount from my account each week and don't use any cards. I also make sure that if I get more commission one month I pay off extra from credit/store accounts. I also prioritse the ones with the highest interest rates first. Its a drastic way of budgeting admittedly, but it works for me. As a result of being so stringent I am half way towards paying everything off, and in a few months will be about £600 a month better off than I am currently so it does work.
I now have a spreadsheet which details all my outgoings each month. I then input how much I'm getting paid (I get commission in my job so it varies each month), and how many weeks there are till the next pay day. It then tells me how much money I can spend each week. I withdraw that amount from my account each week and don't use any cards. I also make sure that if I get more commission one month I pay off extra from credit/store accounts. I also prioritse the ones with the highest interest rates first. Its a drastic way of budgeting admittedly, but it works for me. As a result of being so stringent I am half way towards paying everything off, and in a few months will be about £600 a month better off than I am currently so it does work.
