📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Shall I go Debt free or not? UPDATE- DEBT FREE !!!

13567

Comments

  • lynzpower
    lynzpower Posts: 25,311 Forumite
    10,000 Posts Combo Breaker
    [Oh, and for extra cash - and basically so they think twice about doing it again - take your former employers to industrial tribunal./QUOTE]

    Yep, thats all in process as we speak ;)
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
  • tryhard_2
    tryhard_2 Posts: 348 Forumite
    lynzpower wrote:
    DEBTS
    4k to parents 0%
    1K - 2 x OD with Smile @0%
    600 OD with A&L ( 0%) want to close this carp account asap so opened a 2and smile one for this purpose
    600 OD with Ltsb @ 16.5%
    1400 egg card @ 0% till August

    hi lynz
    congrats on successful sale of your house. you could
    pay off 4k to parents
    600 to A+L and close account
    600 LTSB

    put the rest in high interest account and use the extra income from that for all the unbudgeted stuff - dentists etc; pay off the egg card when 0% ends; by then you'll be eligible for another 0% card and you can start agian

    good luck
    TH
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    I like ZTD's plan and would be inclined to do the same :)
    No longer using this account for new posts from 2013
  • LavenderLily_2
    LavenderLily_2 Posts: 869 Forumite
    Personally, I would pay it all off because I would love to know that I have no debts hanging over me, whatever the interest rate. That's just me though.;)
    "The path of my life is strewn with cowpats from the Devil's own satanic herd!" Blackadder
  • Catseyez
    Catseyez Posts: 993 Forumite
    Lynz,

    You have wanted to be debt free for sooooo long and now is your chance! You will feel a HUGE sense of relief afterwards. Then you will be able to sit down and decide how to invest what you have left over.

    Plus...you can join me and some others on the Debt-Free Roll of Honour thread! :dance:

    Go for it!

    Catseyez x
  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    My stance is usually, "do I have 6 months emergency money in the bank" - especially while you are on probation/ running in your new job.

    Sounds like you would do, so I would pay everything off, then get saving... you've been stressed over your debts for too long not to, regardless of a few quid saving interest here or there.

    Plus, should job not work out (ever the optomist ain't I?) you'd be under the 16k threshold.
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • clarab_3
    clarab_3 Posts: 691 Forumite
    how exciting Lynz!

    I'd go for it and clear them. from a budgetting for the future perspective, I personally opened a new second bank account in my own branch, and on pay day have a standing order over into my account for enough there to pay my esential outgoings plus a tiny emergency buffer...
  • SunderlandBlackCat
    SunderlandBlackCat Posts: 1,225 Forumite
    Congrats

    If nothing else I'd repay my parents but personally I'd pay off everything possible.

    Nothing makes you budget like lack of choice.
  • Verbatim
    Verbatim Posts: 4,831 Forumite
    Part of the Furniture 1,000 Posts
    tryhard wrote:
    hi lynz
    congrats on successful sale of your house. you could
    pay off 4k to parents
    600 to A+L and close account
    600 LTSB

    put the rest in high interest account and use the extra income from that for all the unbudgeted stuff - dentists etc; pay off the egg card when 0% ends; by then you'll be eligible for another 0% card and you can start agian

    good luck

    I'm with Tryhard on this. But I think that you and I have very different approaches to money Lynz! So I expect you'd be happier paying it all off, and I'd say do whatever feels right and least stressful to you and that'll be the right decision.

    Congrats on selling. Have you got the dosh yet?
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
  • Kevicho
    Kevicho Posts: 3,216 Forumite
    Lynz, Lynz Lynz, you are a superstar of this board, and if anyone deserves to be debt free it is you.

    Id go for it, get rid of the temptation to spend, get rid of the debt, start your new job only having to worry about the job, no worrying about debt repayments.

    I can imagine that the option between debt free and having money is quite scary after your journey, but it is one more step to go :)

    Go for it!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.5K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.9K Spending & Discounts
  • 244.5K Work, Benefits & Business
  • 599.8K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture