Personal new year

Published on January 1st, 2015 | by Pete

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January 2015 Update

December is done and dusted. I, like many others I imagine, have totally overindulged. I am full of turkey, beer and pickles. I had a cracking Christmas with family, and it was nice to switch off for a while and just relax. It was particularly nice not to have to expend any mental energy on a dissertation as well! I was a bit tricky financially as might be expected, there are always so many social events to attend, and these normally need some kind of expenditure, even if it is just a four pack!

Let’s get down to the figures. At the end of December, my debt stood at £15,231.74. After my January payments, my total debt will be £15,300.02. Well, well, this is a first! My debt has increased! I am not going to panic though, as I can explain it all! My Nationwide Credit Card has come to the end of its 0% interest rate on balance transfers period. I moved this debt, along with my Next store card debt onto a new Halifax credit card (that has an impressive 33 month 0% interest free period) which led to balance transfer costs. I may have to wait until next month to get under the magical £15,000 bar.

January is a fairly rubbish month. It’s long, dark, cold and can feel a bit soul destroying. A good friend of mine described January as the Monday of the year, and I don’t think I could put it better myself. It really does suck. However, it can be a good opportunity to review financial commitments. Do you use everything you are paying for? Can you get these services cheaper elsewhere? If so, get on the phone, you’ll be surprised how much you can save after a few minutes of chatting.

Happy new year everyone…

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