finance issue.. could I do it better?

N

need2budget

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hi people, have a bit of a quandry.... i have my own house, paying mortgage, gas, esb, phone, mobile, sky, etc all all related household bills myself plus the following,

bank of ireland loan bout 11800 remaining cost 330 per month

credit card current balance approx 4200...paying as much as i can per month,, dont seem to be making any headway....

credit union loan current balance approx 2400... cost 150 per month..

other current ac 500 OD................


i seem to just about managing, and current account always in the red....


does anyone have any suggestions how i could do this better?


i have started to cut costs, reduced mobile to most basic monthly tariff.
cancelled the sky, account,

im on the high user comitment from bord gas where u have to use 16,000kwh per year, or they charge you for it anyways....so cant do much there for the moment.

i think is starting to get on top of me at the minute.....


any advice appreciated...
 
yes have checked there, read all the helpful advice.... credit just placed in bowl of water in freezer..........................( in case of real emergency /doctor /dentist etc)


would it be wise to consolidate ?

i am with irish nationwide on mortgage, i hear that they may demutualize mid this year,, and that i qualify for some sort of payment,,( if it happens then its a bonus but im not banking on it).

looks like beans and toast for a while..
 
you have copped on to the fact you need to make changes so that is a really good thing for a start.
Try to spend cash only for a few weeks it really makes you aware of where you spend your money.
Look at your loans carefully (OD and Credit cards included) and see where the highest intrest rate is - just because it is a credit union does not mean its cheaper than your bank. Pay the largest one first, which servicing the others and when thats gone focus on the next one down. look into a loan from your mortgage provider which could consolidate the amount but in a short term, say 2 years, as they might give it to you at a much lower rate than the banks personal loan.
Nobody knows the future of IN so if you find a cheaper mortgage you should consider it - or else look at tracker / reduced LTV rates and see can you switch to another IN product.
thats about all the advice i have for you. Theres always MABS if you feel they could help but i think you are fine going it alone too.
 
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