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I'm a Waster of Money!!!
nellis10
Posts: 1,350 Forumite
Well folks I just thought I would see how debt repayments can look from a different angle!!
At the moment I have 1 CC at £2225 at rate of 0%, a Car Loan of £5000 taken out in Jan 01 2008 over 5 years, a £5000 loan taken out Jun 2007 over 5 years.
Anyway I was using my little spreadsheet to show what the full debt is including toploaded interest and today it stands at £11296.01!! I've not missed any payments and I am currently trying to pay down my CC as fast as I can!
Admittedly the only waste is the CC...the £5K loan was for my hubby's business to assist in buying out a partner - now he owns 100% of the business, and I need a car for work - but still Debt is Debt!!!!
Now with my regular payments and PAD overpayments...it looks like by Dec 2009 I will have paid a total of approx £4500 in payments to service and reduce these debts....:eek:
Can you believe it!!!??? When you see how much you pay over a year and what you could have done with that money it makes me sick!!!!
DH and I are trying to have another baby....unfortunately we will have to have IVF...and the cost....£4500....so my debt payments could pay for another IVF treatment!!!!! I feel sick!!!!! :mad:
So no more being a waster of money!!!!
At the moment I have 1 CC at £2225 at rate of 0%, a Car Loan of £5000 taken out in Jan 01 2008 over 5 years, a £5000 loan taken out Jun 2007 over 5 years.
Anyway I was using my little spreadsheet to show what the full debt is including toploaded interest and today it stands at £11296.01!! I've not missed any payments and I am currently trying to pay down my CC as fast as I can!
Admittedly the only waste is the CC...the £5K loan was for my hubby's business to assist in buying out a partner - now he owns 100% of the business, and I need a car for work - but still Debt is Debt!!!!
Now with my regular payments and PAD overpayments...it looks like by Dec 2009 I will have paid a total of approx £4500 in payments to service and reduce these debts....:eek:
Can you believe it!!!??? When you see how much you pay over a year and what you could have done with that money it makes me sick!!!!
DH and I are trying to have another baby....unfortunately we will have to have IVF...and the cost....£4500....so my debt payments could pay for another IVF treatment!!!!! I feel sick!!!!! :mad:
So no more being a waster of money!!!!
2024 Challenges
- Grocery Budget (January £0/£300)
- Decluttering (Underway!)
- Frugal Living (January £0/£500
- 24 in 2024 (0/24)
0
Comments
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You have my full sympathy! I've got £70-odd grand of debt, and very little to show for it.
Re the baby - take a look at Lunar's diary, it's a real inspirational read for anyone in that situation.
Good luck getting it all paid off!0
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