£2.78 per hour

andys15

Every hour for the next 2 years. I think I have lost my marbles, but anyway, for some strange reason I worked out how much debt I am repaying per hour. I was bored, anyhow afterwards I went to the shops and bought a sandwich and crisps for £2.80. As I was eating said item I thought how I theoretically could have been debt free 1 hour earlier, then I thought how many other hours could be saved?

LittleMissKitty

Oooo, now I'm intrigued at my hourly rate..... off to work it out.....

kitty x

LittleMissKitty

£0.79 That's pathetic. I'm ashamed. Off to find some extra money and up my hourly repayments!

Kitty x

gonzo127

ha love this a very interesting way of thinking about your debt might have to look into mine now when i get home

andys15

LittleMissKitty wrote: »

£0.79 That's pathetic. I'm ashamed. Off to find some extra money and up my hourly repayments!

Kitty x

thats over £18 a day.

Tixy

Thats really high Andy - are you paying off £2k per month, very well done if you are. I'm going to work mine out - is it just unsecured debts you are including? (mine is going to be really low unless I can put the mortgage in!)

andys15

Tixy wrote: »

Thats really high Andy - are you paying off £2k per month, very well done if you are. I'm going to work mine out - is it just unsecured debts you are including? (mine is going to be really low unless I can put the mortgage in!)

£2002 a month. If I include my mortgage it is £4.56, based on a 30 day month, which is scary. Fortunately our take home pay is £7.45 after tax. I think debt is taking over my life lol.

LittleMissKitty

andys15 wrote: »

£2002 a month. If I include my mortgage it is £4.56, based on a 30 day month, which is scary. Fortunately our take home pay is £7.45 after tax. I think debt is taking over my life lol.

That's a fantastic repayment! Makes me feel slightly less ashamed as our take home pay isn't even £2002 a month. And thinking of repayments as >£18 a day is nicer too. You won't know what to do with all that money once you're debt free

Kitty x

true27

What a great idea!! Can I be a bit dim and ask how you work it out?

andys15

true27 wrote: »

What a great idea!! Can I be a bit dim and ask how you work it out?

I just worked out how much debt i repay a month, then divide it by 30, then divide it by 24. even more extreme is then divide by 60 and see what you repay per minute. 4p for me aarrrrggghhh i need help

andys15

thats me £2.78 paid off my debt only another 17520 hours to go..