Setting a DFD?

sillyrabbit

Any suggestions where to start? I'd love to have one but not sure what's realistic!

saxysarah

Have you done one onf those snowball calculator thingys? give you some idea - are you going to include your mortgage in your debt free date? thats gonna make a huge difference or just divide all the total debt by the average monthly repayments and that'll give you a rough guess maybe? ;-)

sillyrabbit

Yes, would like to include the mortgage - I haven't factored in my student loan yet and was going to ignore it until everything else is done I think. Haven't got the APR for one of the loans as I can't find the right bit of paper, but will try and dig it out so I can do the snowball calculator. Aiming to pay more than I am already off them when I am able so hopefully whatever far-in-the-future date I come up with, I can reduce it each month!

miss_missy

hi rabbit

when we first started paying back our debts 3 years ago i thought about setting a debt free date but it just seemed like it would be so long as we are not on a dmp it was harder to set debt free date also so i decide to set smaller debt free dates based on paying off a specific debt and putting as much effort as possible into paying it off by the debt free date and then once finished i set a new one, it also gives me a little challenge to try and pay off before the date i set i have just started a new one wanting to pay our abbey cc off by december ive just set this as i have just paid off my natwest loan 3 months early than the date i set

this way i get little bits of good news and feel great that another debt has gone instead of focuing on a date that seems so long away

like op suggest if wanting to set your actual debt free date the snowball calculator could help you but do be warned it can be quite scary when you find out what date it comes up with

Happytogetdebtfree

i need to use the snowball again get some focus on debts :P such a demoralising job miss missy i like that idea i may do that xx