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23 year-old Sarah, don't do it...

May 21st, 2015 at 01:15 am

I wish I could tell my younger self not to sign up for the Littlewoods catalogue. Just because your mum used catalogues when you were growing up, doesn't mean you have to.

While there, I'd make sure to set up some automatic deposits to start my Emergency Fund.

I looked into transferring some of Littlewoods balance to my Tesco credit card. I can only transfer a credit card balance in my name. Now I'm considering whether to transfer some of Bank of Scotland's balance to it? (1000 would be the limit since I have 1200 remaining credit on Tesco)

I told my mum she has 200 in savings. She was pleased to say the least.

We almost had an emergency the other day. I went into the kitchen and noticed water everywhere. Dh figured out that the pipe from the washing machine had been leaking. It's fixed now. It made me realise that my savings don't cut it if an actual emergency were to happen. (Of course, I remember when I had 7.60 in my EF, so I've at least moved on from then)

8 Responses to “23 year-old Sarah, don't do it...”

  1. VS_ozgirl Says:

    Everyone makes mistakes, as long as you learn from them that's the main thingSmile
    Also your EF atm might not be enough to cover an emergency but if you're lucky you won't have an emergency for a long time and by then might be able to snowball your debt repayments into EF savings, stay dedicated and it will grow

  2. creditcardfree Says:

    I think most people have some regrets of some sort looking back. Try not to be too hard on yourself. You are learning and it will get better! I would definitely transfer any higher rate balance, in any amount you can, to a lower rate card. It really will help in the long term. Make sure you know what the fees are just so you aren't surprised!

    So you can't transfer the Littlewoods to a credit card? This does make some sense to me. This is where a personal loan may work. Definitely explain to the bank what your plan is for the money. They give you the money and you write a check to Littlewoods. Or if they prefer they can write the check to Littlewoods on your behalf. That way the bank knows the money they are giving you is going to reduce other debt.

  3. CB in the City Says:

    There are many things I would tell my 23-year-old self! Sarah, I was in a real financial pickle after my divorce. I climbed my way out of debt, though, and you can do it, too! When you really lock into determination, the sacrifices don't even seem like sacrifices. Every little thing you do will help, so don't give up!

  4. bluesfemme Says:

    I really like your attitude SG. No matter what, you just keep plugging on. You've also done something great for your mum.

  5. FrugalTexan75 Says:

    I made some really unwise financial decisions in my early 20s ... I'm thankful for those unwise decisions today because I learned from them and know better than to make them again. I have the feeling that you will be in a similar spirit some day. Smile

  6. snafu Says:

    We all see you making changes to re-direct your finances into a managed program. It does take time but whatever mistakes in the past are being corrected now and the future will be more financially secure as your plan progresses. We all make mistakes and our steps to resolve problems move us forward. Delighted you're working on establishing your EF.

  7. DecisiveParadox Says:

    Unfortunately my 23 year old self was such a hard headed opinionated know it all, any advice I was to impart would fall of deaf ears.
    I would probably just give myself a beating because it was long over due.
    If we could go back and change mistakes it wouldn't be life. First the test, then the lesson.
    The biggest most derailing mistake of my life cost me everything and I was homeless for a time. I would lay awake wishing I could change things or do things differently, but at the lowest worst time of my life I met my wife.
    Which, 7 years later, I know will be the best thing to ever happen to me. I would make the same mistakes over and over if it means I get to spend even a day with my lady.

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