...that is today's question.
My dilemma. I have to renew my train pass in December, at a cost of £870 for the year. This will go up in January 2014 (price TBC) so I definitely want to take advantage of the 2013 price while I can, but it depresses me to: A) spend that much money at once and; B) to think I will still be commuting in a year's time!
When I bought the pass last year I had been paying monthly, the saving worked out as £23 a month when I converted to annual. A massive saving, I think you'll agree. I started a regular savings account and put £25 a month away (I figured I wouldn't miss it as I had been paying it out anyway) so by December I will have £325 squirreled away towards the new cost, leaving just £545 to find. I had hoped to find an interest free purchases card to put this on but have only managed to get accepted for a 6.9% on purchases for life card.
So. I guess I just buy the pass and put it on the card? I can probably throw £75 a month at the card whilst still saving this £25 a month towards next year's ticket (please God don't let me need one next year!), and I think it will only cost about £10 in interest payments.
Don't really know what the alternative is but I'd love to hear suggestions!