Sunday, 14 April 2013

Money Saving and Credit Cards

My sealed tin has not seen much action over the past few weeks as I’ve not been spending cash – no cash = no money to put into the tin. I'm not tracking what goes in but I did weigh the tin and it was 7.1kgs - I'll weigh it again in a couple of weeks.  OK the notes won't register but as its mainly coinage - I'm hoping for £1,500 when its opened. In the tin today 1 £5, 3 £2, 3 £1, 3 50p, 3 20p, 1 2p, 3 1p - this lot weighed 120g.
So I have made a decision to draw out £50 cash each, any change and fivers will go into the tin and any £10 or £20 notes will go towards building up the emergency fund. So it’s a win win all round.
I did get three £2 coins and a fiver this week.

DaddyHen did the sums and transferred the balance from CC#3 to CC#2 and paid off the small amount remaining on CC#2.  Yippee he’s gone from having three cards to one – this card has the lowest interest; yes the balance has gone back over the £10k mark but with 0% on the balance transfer and the £1,000 (after snowballing) minimum being paid each month CC#2 will be paid off by beginning of February – sooner if there’s any spare cash.

We plan to clear out the loft during May – any items that can be sold will be and the money put towards clearing these cards.

How are your plans to save money and be debt free going?


MummyHen X


  1. We've had a very expensive couple of weeks. Eldest needed new clothes and shoes and then I remembered youngest needed new school shoes - £30!! Let's hope she looks after them/doesn't grow out of them quickly. We have also had people round for dinner several times over the holidays so the food bill has shot through the roof. Trying not to spend any money this week and I am making myself a dress using fabric I bought from the charity shop for 50p a couple of years ago. Wish me luck! xx

  2. That’s a very smart financial plan. Coins maybe just little amount of money, but when you sum them all up you’ll be surprised with how much you can possibly save. Some people find it hard to save money because they think they don’t have enough cash to save. But what they don’t know is that they have so much money and they just don’t realize it because they’re spending it on less important things. If only they prioritize important things in their life, they’ll see how much they have.
    Jaden Allred @ Irving A. Burton Limited