Cannot stop working out my debt.

andys15

Spirit wrote: »

Andy
It sounds as if this may be your position.Could you do this without pushing you date back by more than say 4-6 months?

We intend to live sensibly after our debts are paid this year to hit the other financial security goals I have listed above. Repaying our debts has been a life changing experience for us.

We found ourselves in debt due to us both leaving our jobs 6 years ago. I trained in my current job for nearly 4 years on half of what I used to get, and my wife didn't work, due to relocating to another part of the country. Anyhow we rented, and let our house whilst I was training(kept it incase I didnt pass my training), anyhow the tenant stop paying her rent, so for a long time we were paying mortgage and our own rent whilst we fixed the damage the tenant caused and in the end had to sell up. Never missed any payments but it was all done on overdrafts and cards. I have been qualifed in my job now and my wife has had her job for 2 years now. We have never really increased our debt(as we have been paying debt for about 18 months now of £1000 plus), but I had a loan from my dad for a deposit for our house,plus a Disney holiday and a few other things(all paid with wages,and CC). Anyway I digress. We went through a lot when I was training, the kids went without, I was around but never really around. So we find ourselves 6 years on from trying to improve our future, £59000 per annum better off, but still having to watch the pennies.
The main reason we are watching the pennies is because I like the idea of having no debt, I hate debt even though it is manageable. I will be debt free in 23 months if we continue to pay off like we are. Or I get loans spread out over 60,72,84 months etc, and have a lot more money now, just to enjoy what we have worked and risked so much for. 23 months sounds like nothing on paper, but the reality is it is a pain.
We are left with £740 which doesn't go far, but saying that I am currently putting £550 for our holiday in August, so maybe I can survive on £740 until after August, and perhaps we can live a little more each month.

on-the-up_5

Hi Andy,

I'm obbsesive to the max after being on a DMP for the last 6 months. I eat, sleep and dream of how I can reduce my debts. I am finally getting to grips with budgetting and the realisation that to have a secure and fun filled future I have to be strict for the next few years to clear the debt.

I am postponing moving and having a baby until I get debt free. It's hard but it makes me want it more.

Good luck with evenrything.

Aspiration

Hi Andy, i noticed the title of your thread and completely hit a note with me. Now i'm focused on reducing my debt thats all i think about! Reading your thread it really sounds like you understand why you got into debt, and focused on getting out so Good Luck and hope it goes well!