Shifting a 24K debt in a year?????

jtr2803

Oh you are going to be so glad I was at college today and couldn't reply!

I would have said don't go , sorry, I know that's really boring and I don't want to sound like I am lecturing you at all BUT

A) It's a lot of money
You have all the time in the world to go it when you are debt free
C) What you stand to lose on the deposit is pennies in comparison with the cost for you to go out there

I do understand the whole life is too short way of thinking but it's also to short to spend time in debt not being able to do the things that you want to do.

Sowwwyyyyyy

x

Woowoo

Definitely keep on top of the gym, trekking in the humidity will be tough but so exciting.

Working with the babies will be unbelievable, it will be so rewarding x

Cloudy456

Hey I've been lurking and reading your diary for a while...and I have to say I agree with jtr283 above. Most of my debt was accrued through travelling when I couldn't afford it, and like you I miss the trips away hugely. But how are you ever get to be debt free if you can't start saying no? Its obviously your decision, and I don't want to sound like I'm lecturing, but it seems to me that you've had loads of motivation, have made really good progress but are now about to take a huge step back. The trip sounds amazing, and I hope you don't mind me putting my two pennies worth in, but I would think long and hard about it. As someone already said, you have all the time in the world to do things like this when your debt free. What does your BF think? If it was me I wouldn't be too pleased about having helped you out so much just for you to take another hugely expensive trip!!

Ceniza

I can't really comment as I've just planned another two trips for the next few months... I'm sure you'll have an AMAZING time though

Kepp

Hey guys, thanks for all your responses, even the ones telling me not to go!

It hasn't been an easy decision to come to and I can definitely see the point of view of the people telling me not to go. I obviously can definitely also see the point of view of people telling me I should!!!

In terms of costs, obviously they do come into it. Adding another 6 months to my DFD is not ideal although I am happier about the fact that it still doesn't make me as badly off as I was to begin with. In terms of losing the deposit, I know that's only pennies and hasn't really influenced my decision, my decision has been solely around the opportunity of going and whether if I delay it would I honestly have the chance of going again?

I think also what Adam has said made me think. I will not be taking any holidays or other trips till I am debt-free. My plan for when I am debt free is to immediately begin saving as me and my boyfriend want to go travelling for a year. The money I will spend on this probably equates to if I just planned several trips during that time. I also am very hard on myself and my budget and rarely spend or go out - one of the reasons I have been able to bring my DFD down so much.

There is also the reason that I just really really want to go! As daft as that sounds (and probably the worst reason)

My boyfriend is fine with it. He wouldn't have been had I just booked it now, but he knows that I have had my name on the list since before I met him and how badly I wanted to do it. He doesn't mind the fact that I'm still doing after he helped me as he saw that I paid every spare penny from my debts while I could, that I didn't waste any of it. I know, I am very lucky.

So after weighing up costs and how it will affect my DFD (something I have never done, not even during my debt-busting a few years ago), and thinking long and hard about whether I could get the time off work again etc and many other things I have decided that I definitely will go.

I hope you'll all still stick with me on my DFD journey

Woowoo

Hi Beccie

I am really pleased and excited for you.

You have obviously thought hard about your decision, so now that you have decided to go just enjoy every minute, including the lead up to your trip.

I will definitely be sticking with your journey and can't wait to hear all about your adventure x

Kepp

Thanks Woowoo

I'd forgotten bout the lead up feels like this is all happening very quickly now! Better start getting organised now with some stuff.

I think all my jabs apart are up to date apart from rabies which annoyingly I think runs out in Feb! Not sure if I'll need it this time though.

No visas needed which is good.

Cost wise obviously there is the trip and the flights but that's pretty much it. I already have clothes, boots etc.

My spending money while I'm there can just be my normal food and going out budgets I would have at home which would be £320 for 2 months. My experience of projects before has been money for a few beers and not much else! I will obviously still pay my rent while I'm gone and that's only fair. With getting paid I should still be able to make my minimum payments and most of my snowball as well so I shouldn't end up any further behind other than the obvious of having to add to my totals to begin with.

It's giving me a good kick up the backside to start working more again as well - I am delivering leaflets tonight (5,000 to do will prob take more than one evening :eek:) Good for the fitness though!

Also have agreed to work New Years in the pub It's a while away but I wanted to show commitment to the cause!:rotfl:

J_pink

LONG post alert!

beccie wrote: »

So after weighing up costs and how it will affect my DFD (something I have never done, not even during my debt-busting a few years ago), and thinking long and hard about whether I could get the time off work again etc and many other things I have decided that I definitely will go. I hope you'll all still stick with me on my DFD journey

Hi Beccie,
I wanted to stop by and read your diary and say hello! You remind me very much of myself in your wonderful free spirit, but hard working mentality. I hope you don't mind a bit of advice (from you...4 years down the line!)

At the time of meeting my boyf I was 24 and our debts accumulated at £19K. A combination of monthly topshop clothes, a motorbike, a little sports car and furnishing our first home with a quick Ikea spree. We had NO savings and I had NO IDEA how much it would affect us 2 years later.

We got married last year with much help from our parents and a gift honeymoon. My hubby took a second job driving and we sold the car, motorbike and goodbye clothes shopping. Simply put we DIDN'T have the money. And without the money we just didn't have the option.

Like you I have grown up thinking "well if that banks giving me money, I'm bloody well going to accept it!". But you don't have the money. You have minus twenty thousand of it. I hate to point out a negative as I so admire your determination but it could take you 10 years to clear this debt. Fastforward your life just by 5/6 years and you could have a wedding, baby, HOUSE to pay for. My wedding cost £12,000. My house deposit will be £15,000.

I think it's time to make this your last trip. Of course your boyf is supporting you - he's in love with you. But 5 years down the line he may think you foolish and irresponsible.

To end on a positive, I want you to know that clearing your debts and doing without the wonderful trips does not mean the end to life and happiness. You can be very happy living on a budget (we just all learn to adapt!) and the feeling you will get when you actually start having assets in your life (a savings account that increases each month) will give you a sense of achievement.

I didn't see what you currently do as a main job but I am very interested - perhaps a career with animals or incorporating travel might actually pay for the lifestyle you want?

I have subscribed and really look forward to supporting you on your journey.

Kepp

J_pink wrote: »

LONG post alert!



Hi Beccie,
I wanted to stop by and read your diary and say hello! You remind me very much of myself in your wonderful free spirit, but hard working mentality. I hope you don't mind a bit of advice (from you...4 years down the line!)

At the time of meeting my boyf I was 24 and our debts accumulated at £19K. A combination of monthly topshop clothes, a motorbike, a little sports car and furnishing our first home with a quick Ikea spree. We had NO savings and I had NO IDEA how much it would affect us 2 years later.

We got married last year with much help from our parents and a gift honeymoon. My hubby took a second job driving and we sold the car, motorbike and goodbye clothes shopping. Simply put we DIDN'T have the money. And without the money we just didn't have the option.

Like you I have grown up thinking "well if that banks giving me money, I'm bloody well going to accept it!". But you don't have the money. You have minus twenty thousand of it. I hate to point out a negative as I so admire your determination but it could take you 10 years to clear this debt. Fastforward your life just by 5/6 years and you could have a wedding, baby, HOUSE to pay for. My wedding cost £12,000. My house deposit will be £15,000.

I think it's time to make this your last trip. Of course your boyf is supporting you - he's in love with you. But 5 years down the line he may think you foolish and irresponsible.

To end on a positive, I want you to know that clearing your debts and doing without the wonderful trips does not mean the end to life and happiness. You can be very happy living on a budget (we just all learn to adapt!) and the feeling you will get when you actually start having assets in your life (a savings account that increases each month) will give you a sense of achievement.

I didn't see what you currently do as a main job but I am very interested - perhaps a career with animals or incorporating travel might actually pay for the lifestyle you want?

I have subscribed and really look forward to supporting you on your journey.

Hi J_pink and thank you for stopping by!

I fully appreciate the advice and many are thoughts I have had myself when considering what to do.

I in no way think that not doing these things is the end of happiness although also fully admit that when doing these things is also when I am happiest if that makes sense?

I would definitely say that this is not the ideal time to be doing this debt-wise but I am weighing this up against whether by 2013 I could do this at all. I also would never have booked this from the outset at a time like this, when I put my name down was way back before I knew I'd end up here. Think really the clincher for me was work saying that I could have the time paid which means I can keep up with my debt repayments whilst away - without this I would have had to turn it down.

I know what you're saying when in 5/6 years time I could have those things to pay for and then I may regret this, however, in 5/6 years time I may not have these things to pay for and then I will regret not going.

According to my calculations I will be back at the level of debt I'm at now by Feb 2011, and it's a calculation I can live with.

I do live on a very tight budget now (£80 a month to go out, £80 to buy groceries and never buy new clothes etc anymore) and I do still have a lot of fun so I know that it can be done. In some ways I see this has lumping together all the other treats people have along the way while debt-busting - a 2 week holiday, a weekend away, a very expensive night out etc. I know in these cases people just pay less back in those months in order to pay for these things and I do have to take further credit so that differs but is also the same.

I definitely do take that point on board - this will be my last trip till I am debt-free. The years travelling me and my boyfriend are going to do will be saved for. I don't want the worry of debt while we're away, and we also want to be able to leave it open-ended, i.e. we won't have to come back if we find something else to do and we def can't do that if we're in debt.

Wow, I'm rambling! :rotfl:

In short, I know there are many arguments for and against and also that many may not view it as the most sensible decision but I feel that I'm doing what feels right for me and hope I don't regret it.

'It's better to regret something you did than something you didn't'

Here's hoping!

Glad you have subscribed and thank you for taking the time to give me the advice.

Do you have a diary?

Clurbur85

Hi Beccie,
I thought I’d pop over to say hi. I’ve been reading the last few pages of you diary and the Borneo trip sounds amazing!!! I probably would have advised you against going, but I can certainly see why you’re taking up this amazing opportunity!!!
In some ways I think deciding to go away was probably a harder decision then deciding to stay, because you’re fully aware of the financial implications of the trip and you have been working so hard to bust your debt.
I hope you have amazing time - just try your best to keep within budget and hopefully it won’t set you back too much.
xxxxxxxxxx