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struggling to save for mortgage!
karbar
Posts: 28 Forumite
Hi
This is my situation…
Debt:
Approximately 10K debt on mastercards
7k loan
Basic monthly outgoing :
480 loan repayment + 400 mastercards + 350 per month rent = 1230 per /month
Im currently on 35K salary (permanent job). Bust struggling to save for mortgage!
What can I do to get out of this situation? I wish I was paying 1230 a month toward mortgage L
This is my situation…
Debt:
Approximately 10K debt on mastercards
7k loan
Basic monthly outgoing :
480 loan repayment + 400 mastercards + 350 per month rent = 1230 per /month
Im currently on 35K salary (permanent job). Bust struggling to save for mortgage!
What can I do to get out of this situation? I wish I was paying 1230 a month toward mortgage L
0
Comments
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I'd forget about saving until you've got rid of all your debts....0
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£400 on MC debt - seems high but I can only assume you are paying back above minimum. Swap to 0% and pay back, you aren't missing anything in the housing market at the moment so don't worry about that.
You spent it you must pay for it, how quickly you do that is up to you.0 -
I'd clear debts too. DOn't forget outstand debt will be taken off the amount of mortgage you can borrow. Plus you'll probably be paying more than £350 a month on a mortgage, so best to have your debts cleared.Forty and fabulous, well that's what my cards say....0
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Go onto the Debt Free Wannabee forums, post a Statement of Affairs and get help on cutting down that debt. You'll get loads of practical help on how to pay the debt off and start saving.0
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