Shocking

Glittermonkey

Im just sitting here thinking about payday tomorrow and what im going to pay to who etc.

I realised that i pay anywhere between £600-800 per month off on my debts! It got me thinking about what i oculd have if i didnt have debts.

Lst year we paid less than £600 for 3 of us to fly to America - i could do that each month if i didnt have debt!

Pure madness - makes me more determined to pay these debts ASAP!

GM x

Petal_3

Hi there GM

I'm in the same boat - £800 pm on stuff we've already had/done! It's preventing us from doing the things we want to do now! We're managing the debt OK though and I have my DFD in sight (not for about 18 months though). I find I'm thinking about it all the time and the months are dragging by....I just can't wait! I have a 5 yr loan with 3 more payments to go at £275 pm and I will be celebrating on the day of the last payment - even though the "spare" cash will go towards paying off the cc's....lol. The funny thing is that I upped the payments on the cc (so i wasn't paying the min) and I got so carried away with trying to get rid of the debt I end up with an o/d at the end of the month cos my payments are a bit too high really....but instead of reducing the payments I'm finding ways of cutting back on shopping etc so I don't get overdrawn.....IYSWIM.

I agree.....it is madness isn't it? :eek:

Good Luck!

Kateelizabee

I also pay about £700 a month on debt repayments, more when we have it, but thankfully it's self imposed to pay them off faster, and we have budgeted for it.

Sometimes I wonder where all the money's went, and realise into the loans, but I plan on "paying" myself the amount into a savings account when the last payment is paid.

Ken68

Even better , Glitter, once your debts are clear, put that £600-800 into an high interest account , wait a year then it's free money you can spend on whatever.

Tondella

we spend £1230 per month servicing our debts. I use this fact to motivate my OH. When we have paid off our debts I have said that he can have a landrover discovery (and still have change to go on a European long weekend).

*Louise*

Ken68 wrote:

Even better , Glitter, once your debts are clear, put that £600-800 into an high interest account , wait a year then it's free money you can spend on whatever.

That's my plan as well :T :j

taplady

Tondella wrote:

we spend £1230 per month servicing our debts. I use this fact to motivate my OH. When we have paid off our debts I have said that he can have a landrover discovery (and still have change to go on a European long weekend).

Nice idea ! I remember thinking the same thing, with what we were paying out on old debts we could be driving around in a brand new car, not an old banger! :mad:

Tondella

Thanks! I'm not so bothered about the car myself but it's something he has always wanted. Previously he had considered his debts as something that will die with him and not bother anyone else, but getting him to see that his repayments = landrover discovery has made him realise that his debts are stopping him from doing/having the things he wants to do/have now. It's been a major step in his lightbulb moment and I recommend it as a tactic to anyone who wants to help someone face up to their own debts.

maforduk

We pay back £320 a month! If we didn't do this, we could have a mortgage and our own home!

dinkylou

I pay about £250 per month.

If I was debt free I could save that and have a great holiday, every 6 months!!

What a great thought!!

lottie26_2

This is what I keep thinking all the things I can buy or not buy when i've paid my debts off the fact that I can have the choice that if I wanted to go on holiday for a week or I wanted to save all the money I could choose and not and not HAVE any debts to pay. I can't wait.