If My Pennies Were Pounds...

MustStopSpending

Can't help about student loan but good you've got your balance, I like to watch my balances go down, and down and down!

Have you decided on whe you hope to clear it by? I debt free date?

If_My_Pennies_Were_Pounds

Hi MustStopSpending.

I'm not sure when I want it cleared by as I'd ideally like to pay that off and save at the same time - I want to have my cake AND eat it

The problem I have is that while I can go online and make payments whenever I like, any payments that come from my wages (£26 per month) will not be taken off the final figure until the end of the tax year. So basically the £300ish I contribute this year won't be deducted off the figure until April 2011 :eek:

This is why I am going to track all payments including salary ones in my signature so that I am on top of the figure at all times.

I need to be realistic with my repayments and still live a little. I don't want to be so eaten up with repaying the debt and saving that it means having no fun with my OH and the pup

Smilerwoman

Hello!

Hope you are doing well today!

I read this and thought it was really powerful. I was honestly quite moved.

I feel like things have been put in to perspective a little bit lately. Where I live there have been 4 men (aged 17-22) have all committed suicide in the last 10 days. One of the boys was found in the park where I walk the dog (just 5 mins from our house) on Saturday. It just makes you realise that you need to enjoy your life and make the most of it as you only live once, this is not a rehearsal, it's the real thing.

My dad always says: We're here for a good time, not a long time.

Now to find a way to make a good time cheap! :rotfl:

jtr2803

In regards to the savings v debt...

You obviously have to put aside what ever you feel you can, maybe rather than splitting the money between the student loan and an ISA you could put it all in one account? That way you would earn more interest and it you can always decide later how best to use it (on the debt obviously ).

Not sure if you already keep a spending diary but if not I would definately recommend it, I've been much more prudent since I started mine

elantan

Put it into a savings till just before they take it off ... That way you get the interest not them


I saw in the news about the four men really sad stuff that ... Usually winter is worse than summer as well strange they chose summer ( sad that it happened at all though)

Think you should go and buy a lampshade just to make hubby happy ... Get him to paint it .... Then stick it on his neck .... Think of all the games and fun you two could have with that one lol .... Nice to see you over my way ( diary) pop on by anytime

If_My_Pennies_Were_Pounds

Thanks for the comments and advice eveyone!

Not sure if I made it clear or not but regarding the Student Loan, any payments I go online and make myself will be taken off the balance straight away, however any payments that come from my salary sit with the HMRC until the end of the tax year :mad: Not sure if that changes anyones opinion about the whole stick it in the bank thing?!

Elantan, I think if I suggested the lampshade to my OH (not hubby btw - YET! :rotfl:) he would think I had gone mad! He had been for the whole let her have one litter of puppies before spaying her thing. I said to him, how would you like it if you only got to do 'IT' once and then never again - he soon shut up! Lol

Thanks JTR - I think the idea of a spending diary kind of scares me, as then I will know how much I really fritter by money away on nothing! My problem is that once I have savings I don't like to spend them on anything, I like to know I've got something as a safety net, if that makes sense?!

Hi Smilerwoman, if only it was cheap eh?! But I suppose life is just constantly throwing challenges our way - at least it keeps it interesting if nothing else! :rotfl:

Well we had a good time at the quiz night last night, came 3rd which was great because the two teams that finished ahead of us were 'professional' teams that go every week! You don't get anything for coming 3rd though! Any typically didn't win a thing in the raffle either...oh well £10 down but a good night.

On the plus side I did get two £2 coins in my change and OH had one as well so they all got added to the sealed tin this morning - think there is roughly £130-£140 in there now :j

Pup is recovering nicely, she's back to herself anyway. Speaking of her, I posted a thread in the pets section asking for anyones advice/experiences regarding spaying their dogs and not a single person has answered me. I'm sorry but I refuse to believe that not one person in there could have given me a little advice :cool:

Forgot to mention that today will totally not be a NSD, I have my car insurance to pay for and it is costing £££'s. But better to pay it in one go than add the £120 they wanted to pay monthly. Bloomin' rip off I tell you!

elantan

Ahhh you said it right I read it wrong .... That way then go and pay it off deff ... Might even give them a phone myself now ... Yes I imagine it would be kinda frustrating only once although if it was anything like my first it wasn't amazing anyway I was like is that it lol ... I wouldve thought some one would give you some advice on that though ... Sorry I can't help never had a dog

elantan

Ohhh £2 coins another collector ... My burglars stole mine had to start all over again ... But I am up to about £8 already yay

If_My_Pennies_Were_Pounds

Burglars a total t**ts I tell you, I hate how people could treat others like that.

I think I've decided then, what would have been the car insurance money will now be split between the Student Loan and the ISA, now I just need decide how to split it! :rotfl: £30/£20, £25/£25, £20/£30 hmmm decisions decisions!

I really want to start knocking the debt down and think I should set my self a realistic debt free date of this time next year, so July 2011 - although I plan to beat this target and have it paid off sooner...maybe :rotfl:

Atleast I was always aware of my debt, a girl in my work had just received a letter demanding £1500 for a student loan she supposedly had in 1999 - 11 years ago and now they are chasing her :eek:

If_My_Pennies_Were_Pounds

Well I decided that I would make a small payment to my loan today because the odd 43p on the balance was annoying me :rotfl:

I wanted to get the figure to an even number, and the minimum payment you can make is £5 so I have paid £12.43 off my loan today, taking my remaining balance to £1020. Will aim to have that £20 off by the end of the month and soon I will be sub £1k :j