If you’re in debt, it doesn’t need to be a 0% deal to save you serious cash. In some cases, just being able to put a chunk of debt at the lowest rate possible so you have some headroom to pay off your nastiest [Edit: remaining! - obviously, transfer your highest interest debt] credit cards can speed the whole pyramid up considerably
See if it’s possible to consolidate onto a new card that might give an interest-free period. Or a personal loan for the card balances.
Cut up the cards. Or, keep 1 for emergencies in the home.
Spend only on necessities, no eating out, no takeaways, no new anything unless something needs to be replaced.
Make the financial priority to clear the debt and once cleared build an emergency fund.
With the exception of cars and property, only buy something if you’ve got the money to pay for it. Other exception, if something is available on interest free credit but only have 1, maybe 2, of these at any given time.
Even having to input your card details when you buy something online, instead of the info being automatically populated, adds just enough effort to make me question how much I want to buy something lol
I saw someone yesterday on Reddit had calculated the cost of their purchase (a kettle) over a year which was interesting.
They included the purchase, the cost of use (water and electricity), the change due to lockdown usage increase, the savings according to buying coffee elsewhere… it was all a little too much for a kettle for my energy levels, but I liked the idea.
I did something similar with my iPhone and Apple Watch late last year, and will likely try to do it for holidays this year.
Yeah and I’m all for that if people need to. One of the presents I bought the better half was a lava lamp they wanted. I thought about not doing it but then when you calculate the cost and weigh up the enjoyment they get from it, it’s cheaper than the Netflix subscription!
I’m trying to be thrifty in terms of the grand spend, but trying to enjoy the smaller things more.