10 days until I am debt free.....

ms_london

samgoffe wrote:

congratulations ms_london, i wish i was at the same point as you.

You put an amazing ammount into your loan every month, i wish i could do the same.

I earn £22k a year, only outgoings (apart from loan) are phone (£50) and train (£90) a month. that means im left with £1200 to spend each month, but it just goes, i manage to pay off abour £400 off 1 loan and £200 of an other but the rest vanishes!

Anyway, Well done and i hope to be posting the same topic as you soon !

Are you living at home with parents? (hence the no rent). I think you are definately in a position to get yourself debt free, or at least be saving something.. Even if you paid any extra £200 a month off your loan(s), you would still be left with say £460 which is a more than adequate amount to have each month (my budget is £50 a week including food!!). What are the APRs on your loan? Is there a penalty for early repayments? You could probably clear it within a year (as I did) if you really set your mind to it..... but again, its about priorities, I am desparate to go travelling with spurred me on.

Good luck.
Ms_London xx

illmonkey

hi.
I live at my girlfiiends parents house but rent free. We spend £3k doing up part of it for us to live in (its a big house). This costs me £200 a month, same with my girlfriend, and we aim to clear it within 1 year, which is how long we want to live there for. Also we got alot of furnature in that cost!

Loan is with egg, stands at £11700 at the moment, its 7.9% and no penaltys. I know its a bit high, but its all i could get (extended a smaller loan) due to all of the money problems i've had!

I do want to start saving for a deposit for a house or rented house. but thats a few years off i think!

rprinter

ms_london

just want to add my name to the many congratulating you as I'm away next week so will miss yr big day!

What an achievement. And what you've gone through over the last year(s) really will set you up for your travelling. Go as soon as you've saved a reasonable amount, once you've bought the tickets you'll be able to live forever in some nice parts of the world for very little. Specially in thailand and south america, if they're on your itinerary.

Not done it myself but lots of mates have. Thailand comes out tops every time. Beachfront huts @ £1 a night; you'll never want to come back I reckon!

Anyway the best of luck to you. Please look after yourself if you're travelling alone!

r

spidey

Well down MsLondon!

Annie_Fanny

Yeah well done ms_london - how will you 'celebrate' on the day? What a huge achievement. It's funny when I think about celebrating I immediately think about spending money!! So many of my friends just ignore their debt even though it is probably perfectly manageable. It's sad really.

I've done quite a bit of travelling myself, (Australia, North America, India...not bragging honest! That was my priority when I was younger hence why I don't have a house now and some of my friends do!) so if you need any advice - let me know.

Annie