Are borrowers really making a conscious effort to pay down debt?

PasturesNew

Bored_Poster wrote: »

Do you mind if i ask what you had?

Had what/when? eh?

IveSeenTheLight

b0rker wrote: »

Yeah but that just makes another £1,000 that we already need to save to get down to an 80% LTV.

You are right of course.

We are so desperate to get a £320 monthly repayment that this seems more important than the actual fact and figures.

Not clever I know. I am trying to be clever about this as I was not clever when arranging the original 1st FTB mortgage 2 years ago and I regret that.

Work it out, you'd probably pay about 6 months payments to get back to the original borrowed sum (depends on mortgage interest rate)

Could you save the £999 in less time?

PasturesNew

Bored_Poster wrote: »

To eat, I am asking because I was home alone on saturday night and made beans on toast and I was absolutley shattered afterwards.

2 nuked spuds and half a tin of Tesco value sliced carrots.

lostinrates

Cleaver wrote: »

I guess so. I just think ....

I agree, but I'm suggesting that there are many, many eople who, can't think in the way even the dullest amoung us :hello: are tryig to do. It might not just be intellectual capability..my issue, but time...single people, PN makes a fair point, usually have someone else who can do stuff like take the bins out while they read financial information, or for example, the self employed, putting most waking hours into bsiness rather than personal success. I'm not saying people's priorities are right in the above scenarios, but I am saying for many they'll be hard to avoid.

FWIW we paid a financial advisor on a monthly retainer until I relaised I was reading stuff here (back in the board's hayday:D) that saved us from a lot of nvestments that would hve cost us a lot of money. My parents were advised about pensions and endowments...get how well that will pay off for them:rolleyes:? The thing is some people do it as right as they can do -getting help when they feel its beyond them- and it goes wrong, these tales, wrongly I agree, can induce paralysis in some people.

Paulgonnabedebtfree

I don't know what others are doing but I started paying down unsecured debt before my mortgage dropped (last month). I started doing it by slashing my household budget and enforcing self disciplne, and working harder with longer hours (more income). Since my fixed rate ended, I have started saving £130 - £160 a month on the mortgage and am paying that towards the unsecured debt too (not this month though as I had to replace tools and pay for a new clutch in my van).
I just want to repay as much of my debt as possible before my mortgage eventually starts going up. I'm very lucky to be getting a soft landing at the moment. I intend to use my race against time wisely.

System

Paulgonnabedebtfree wrote: »

I don't know what others are doing but I started paying down unsecured debt before my mortgage dropped (last month). I started doing it by slashing my household budget and enforcing self disciplne, and working harder with longer hours (more income). Since my fixed rate ended, I have started saving £130 - £160 a month on the mortgage and am paying that towards the unsecured debt too (not this month though as I had to replace tools and pay for a new clutch in my van).
I just want to repay as much of my debt as possible before my mortgage eventually starts going up. I'm very lucky to be getting a soft landing at the moment. I intend to use my race against time wisely.

Good on you :beer:

I just saw your signature, christ you've got a lot of saving to do :eek:

Paulgonnabedebtfree

Joeskeppi wrote: »

Good on you :beer:

I just saw your signature, christ you've got a lot of saving to do :eek:

I use the "Payment a day" part of the forum. Also, I am self-employed and can up my income without relying on some distant boss giving me a raise. You will see on my sig that I've slashed 5 grand off my debt this year. Some of my reduced spending hasn't started to kick in yet so there are more benefits to follow on that score. I am capable of pushing my income up another 40 - 50% from current level if I stay focussed - though obviously that will be a more gradual thing. It's all relative really. If I was an employee earning 15 - 18 grand a year having to beg for a raise then I would be more concerned. Being able to tailor my income more easily (subject to my physical capacity to be able to do the work of course) is a major help. Obviously nothing is immune from recession but, without getting complacent, what I do seems to be faring better than most (so far).

Lotus-eater

PasturesNew wrote: »

I hate it when that happens: eat/body overload/booze......get the days wrong.

Corrected it for you

zippeh_2

Re: the tiredness after eating thing..

stay away from too many carbs especially hightly refinred sugary / starchy ones. They push your blood sugar level up, rapidly and your body reacts by telling your pancreas to squirt insulin into your system to bring the sugar level down, storing the excess sugar for use later on. A side effect of too much insulin in your system is tiredness.

Essentially, if humans were meant to eat carbs (and lots of them as in the meals described above) our pancreas' would be as large as our livers! We havent evolved hardly at all in the last 10,000 years - then we were eating meat, nuts, seeds, berries, various fruit (for sugars), leaves and veg... very low carb..

there're you go.

PasturesNew

zippeh wrote: »

Re: the tiredness after eating thing..

stay away from too many carbs especially hightly refinred sugary / starchy ones. They push your blood sugar level up, rapidly and your body reacts by telling your pancreas to squirt insulin into your system to bring the sugar level down, storing the excess sugar for use later on. A side effect of too much insulin in your system is tiredness.

I'll be snoozing again later then. Got last night's chips to nuke for lunch today