The Challenge - Debt free in two years!

Ceniza

I've not bought it yet, because it doesn't arrive in the UK until the 15th November.

Herewego wrote: »

Do we need to take away your cc ?

I chopped them all up and cancelled them when I'd cleared the balance.

It's one of only 15 in the UK

Woowoo

Be strong Adam, just hold off another year!

Ceniza

Woowoo wrote: »

Be strong Adam, just hold off another year!

I've been saying this for the past 2 years. My current snowboard is second had anyway, and promised myself a new one last year, but held off. I don't think I can hold off anymore as my current one is damaged on the edges and it's unsafe to ride in the ice...

Kepp

Would it affect your snowball payment next month if you bought it?

Ceniza

Nope. My snowball is £800 a month. Which is very conservative and I usually overpay this most months.

Kepp

So, if you bought the board, you wouldn't be pushing your DFD any further into the future, but unlikely to overpay even more for that month, so won't be making your DFD any closer?

I think if it won't make your DFD any worse, and you will still make your snowball, I would think about it....

That may be very bad advice though....:o

Ceniza

beccie wrote: »

So, if you bought the board, you wouldn't be pushing your DFD any further into the future, but unlikely to overpay even more for that month, so won't be making your DFD any closer?

I think if it won't make your DFD any worse, and you will still make your snowball, I would think about it....

That may be very bad advice though....:o

Thanks for the bad advice LOL

My rent+bills+snowball is £1600 a month. I could get the board and still overpay on the loan.

Kepp

I am probably the worst person to give advice on these things! Just think Borneo.....:rotfl:

The obvious answer should be don't buy it, throw everything at your debts.

But I think that when you look at your budget and make decisions to spend within this and with snowballs, overpayments and DFDs all taken into consideration that is a much more informed decision than as we all used to do - rush out and stick it on a CC.

Maybe I should stop talking!? :rotfl:

Ceniza

Well, I decided with I had my LBM that I wouldn't get into anymore debt, no matter what. Do all holidays, all purchases would all be done using my wage, and would all be done AFTER my bills and snowball were taken care off. Each month I've paid over £800 a month towards my debts, and each month I've been careful about my money, so I figured it would be safe, provided it was my wage paying for it and my snowball was me, to go ahead and buy it.

Woowoo

As long as your not adding to the debt Adam and your happy with your decision then go for it