Slightly OT/Wedding related - Money issues. Help/advice

Pay off the credit cards - with that money spare a month you can save for the wedding very quickly AND be much more relaxed about it too!!!

Pay off the credit cards!!!

Definetely pay off the credit cards

I agree pay off the credit cards. Interest means it will take you longer to pay off the credit cards than save for the wedding. xx

Pay 10K off credit cards, put the rest into a cash ISA. Then, get yourself a new credit card with interest free balance transfers.

Sorted!

I'm kinda thinking this is the sensible thing to do! We're not usually sensible, but I'm thinking its time!!!

Definitely time to be sensible!!

Pay off the cards. If you really want to get married then it can be done without spending thousands of pounds but really if i was you i'd prefer to start married life without so much debt.

Thanks guys! I think we're kinda leaning towards this.

Although OH wants to use 2k to do his Electricians course, which would mean he earns more money. Think this is a good idea!

Sorry a cash ISA will pay a lot less in interest than you will pay to a credit card company. Id pay the whole lot off or as much as you can. Debt makes you miserable.... believe me I know Ive been there and Im so much happier now its all paid off. I would never go back.

xx

Which is why I said to transfer the remaining onto a new, interest free credit card...

Also been there, done that, got the t-shirt.

ETA: Money Supermarket has these interest free balance transfer credit cards. https://www.moneysupermarket.com/credit-cards/balance-transfer/ Continue paying £450 a month and credit card debt is gone in a year, plus, you already have £3k plus a tiny tiny amount of interest (?) saved up for the wedding!

Hi!

I feel somewhat qualified to answer that as I work as a manager in the Collections dept of a big bank and for the last 4 years I have been dealing with customers in financial difficulty especially with credit cards. As such I would say it may be better to pay the credit cards in case interest rates go up again in order for the government to reduce the deficit we are in. As Cameron intends to impose a levy on banks the banks will need to recoup the money somehow and my feel is they'll put interest rates up. It would also make it much easier to manage being debt-free. (On the other hand, they're threatening to put VAT up to 20% and most venues and wedding suppliers are likely to put up their prices. Our own venue advised us to pay deposit asap before the VAT goes up and they are forced to charge us more!)

PLEASE NOTE THIS IS MY PERSONAL OPINION, I AM NOT A QUALIFIED FINANCIAL ADVISOR, I AM JUST USING MY KNOWLEDGE FROM WORKING IN A COLLECTIONS DEPT. I am saying this because the decision has to be yours, this IS what I would do in your place, like I said, I am not qualified to give financial advice, only suggest pros and cons based on knowledge from work.

Good luck!

Thanks Vikingprincess...you have made a lot of sense. Things I hadn't thought about!!!

I think we will definatly pay the credit cards off. I'm sure we could still do the wedding in a year or two. We were orginally looking at 2012...think its still doable!!!!

I would get out of debt before getting up the aisle! cos the debt is only gona get worse seein its really only interest you're payin!

I am a money/debt adviser! PAY OFF THE CARDS

You're welcome! Glad I could help!

I know what you're saying, I wanted to get married this December but had to see sense also due to financial considerations... Us girls and weddings! LOLxxxx

PAY OFF YOURDEBTS FIRST.

if you know what kind of wedding you want , it all can be done on a realistic figure.

do you know what kind of wedding you want?

Hey Chelle,

I would definitely say pay off as much of your debt as you possibly can. I know it will be a bit of a bummer having to wait a little longer to get married but just think how great it will be to start out married life completely debt free! We are a few thousand in debt and I know I would pay my debts off if I came into some money.

Pay off the debt just think how quickly you could save the money from what you are paying them now.

Pay off the credit cards. It may mean you'll have to wait a couple of years to get married, but atleast you'll start married life debt free

x

We have decided to pay of our credit cards. Although we will still have a little debt, but definatly won't be as much as it is now.

We have chosen the venue for our wedding, which will be a hotel for the whole day. We have very big families, and what to include as many people as possible. OH has also been married before, but always calls it the sham wedding. He wants it to be different from last time, and be more involved.

We plan to start saving for wedding as soon as cards have been paid. We're going to save the same amount we were putting on them a month which is £500.00...don't think it will take us too long to get our dream wedding (fingers crossed OH's parents have said they may be able to pay half, which would be great!)

Paying off the cards is the best decision,

You want to srat your life together debt free, plus you are alreaddy used to loosing a big chunk to pay off the cards every month so saving that will be easy, just direct debit it to a special saving account rather than to the cards.

Oh and I saved for our wedding and the time has flown by you need to saving time just to give you time to plan

Hi

If it was me I would pay the debt off - or as much as you can. At the moment no one really knows what could happen in the next 6 months a year you could loose your job etc

It sounds like youve got a supportive family if they are offering to pay half and if it was me in your decision I would rather enjoy the day, and not thinking how much debt Ive still gotta pay etc

What ever you do good luck!

xx

Hi MrsLowndes2b

OH did loose his job, last in January 2009...he's now a self employed Plasterer and Builder. This is what he used to do in his slightly younger years. Its hard trying to find his feet again, but we are slowing getting work coming in. Thankfully my job is reletivly safe... I work on Reception and thankfully the other girl is so rubbish, she's been given the boot!!! Yipppeeee! LOL

Yeah OH's family are great. OH is only child which is always a bonus. They have a little cash coming their way and want to split it with us. My Mum is also offering to pay for a few bits which is great!

I must say, I feel soooo much happier knowing what the decision is going to be. OH said he feels like a weight is being lifted off. Its definatly the right choice!!!

Thanks again everyone!!! xxxx

Without I doubt I would get rid of the debts. Otherwise you will be paying them off for ages. At least if you can save and get married debt free, it will be a great start for you. Even if you have to wait a few years before the day - believe me it will come round REALLY quick!