Your advice is needed - complete newbie, stuck in a dead end!

MajicMOLE

bristol_pilot wrote: »

Dude, you are too old for your age. 24 and been in a relationship 5 years !!!!!!. Why not travel, sleep around, go clubbing, have some fun.

Thanks for your advise but you really don't know nothing about me, so don't try and judge me because iv been in a relationship?!?

klee1505

hello,

me and my other half where in the same situation he had debt and i didnt and we both needed to get out of parent houses so i know how it feels.
we decided to rent 1st and see how things go from there and when we can afford it we will buy.
the best option it probally to rent at the moment just untill you have enough money.

and besides you can take a 6 months contract and see after 6 months if you can afford it you can buy then

LittleMissAspie

Do you pay anything to your parents? If not then I calculate very very roughly that you (jointly) should have about 2k per month spare after paying your debts.

You (just you, not your girlfriend) should be able to pay off that 18k in 18 months if you have no living costs. Then you (both of you) can save 2k a month towards a deposit, you'll be debt-free and have a deposit of 12k in just two years.

cupid_s

MajicMOLE wrote: »

Was kinda hoping to be on the ladder before i was 34 though!

If you have £1140 spare each month you could clear all of your debt in less than 18 months depending on the interest rates you're paying.

Then you could save the £1140 plus the £300 you currently spend on your debts. That's a 17k deposit in only a year! Or alternatively rent somewhere once your debts are paid off - you'd still be able to save a healthy amount each month whilst having your independence though it would obviously take longer to save a deposit.

But either way you'd be in a position to buy your own home with a healthy deposit and no debt in less than 4 years. Making you nowhere near 34!

MajicMOLE

Some really good advice here, thankyou all, this is what I was after!!!

LittleMissAspie wrote: »

Do you pay anything to your parents? If not then I calculate very very roughly that you (jointly) should have about 2k per month spare after paying your debts.

You (just you, not your girlfriend) should be able to pay off that 18k in 18 months if you have no living costs. Then you (both of you) can save 2k a month towards a deposit, you'll be debt-free and have a deposit of 12k in just two years.

We both get paid 4 weekly (13 times a year)

we get £2200 after tax. Know off car loan and CC = £1800

Knock off car maintence (insurance, petrol, tax, etc) = £1550

Knock off food = £1430

I smoke (i know, waste of money - should give it up!!) £1330

Then youve got phone, christmas, birthdays and general living which is why i called it £1140 per month.


We used to pay parents money but they stopped taking it cos they know we wanna move out and are saving, however we do give them a small contribution now and again, and we do buy some food, as stated above. so 1140 is a more realistic figure.