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The Debt Free Birthday Club Challenge!
Comments
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well done tirlittan! :j0
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Hi- is your 'student loan' a loan with the student loan company (ie. the govnt one) or a bank loan? Either way- can you repay early? If it's the student loan people then you can just send them a cheque every now and then for extra. If it's a bank loan then set up a small savings account somewhere and add in bits and pieces until you have enough to pay it off in a lump sum. Get rid of it a bit quicker!! Well done on your achievement today
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Hi- is your 'student loan' a loan with the student loan company (ie. the govnt one) or a bank loan? Either way- can you repay early? If it's the student loan people then you can just send them a cheque every now and then for extra. If it's a bank loan then set up a small savings account somewhere and add in bits and pieces until you have enough to pay it off in a lump sum. Get rid of it a bit quicker!! Well done on your achievement today
Hi Laura,
my student loan is from Finland. It's pretty flexible. I have to give them an estimate of how much I'm going to pay over a 12month period, but can overpay if and when I can. What cripples me is the 9% interest and the fact that for various reasons I didn't pay anything towards it on the first year it was due, therefore still trying to catch up on the interest.
Interest should be paid by end of this year though and then I can start chipping away at the capital. Bar finding a better paid job, can't really do much more as my budget is tight as... DEBT FREE OCTOBER 2012!Proud to have dealt with my debts!0 -
Got a job again so used savings to get back down to £15907Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5K updated 10/10/250 -
:TThat's good newssavingholmes wrote: »Got a job again so used savings to get back down to £15666 0 -
That's great news Saving Holmes. Look forward to seeing your ticker
Hope you enjoy the new job and it isn't too hectic settling in2019 fashion on a ration 0/66 coupons0 -
Ticker update- had all statements in so these are final totals for this month
almost at 26%. Maybe I can find a few pennies extra to pay off the card if I have a few extra NSD's. Maybe... I'll see how it goes 0 -
Just figured out an extra £4 will get me to 26%. I think I'll manage to find an extra £4... 0
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Morning all!
It's payday tomorrow
so time for my monthly update...
Starting debt = £6,993.88
Current loan balance = £6,280.93
Amount in Instant Access savings = £112.46
Amount in No Access savings = £860
So, by taking off the amount in savings I work out that I now owe £5,308.47
Should be over 25% by next month :j
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