»

What do you earn, how much do you owe and how much are you paying off?

New Post Advanced Search

Coronavirus: Stay up to date with the latest from MSE


The MSE team is working extremely hard to keep the info we have about your travel rights, cancellation rights, sick pay (and more) up to date.
Stay updated with our guides: Coronavirus Help & Your Rights * Coronavirus Travel Rights
NEWSFLASH 27/03
MARTINS VIDEO FOR SELF-EMPLOYED * DELAY HOUSE MOVES * EUROSTAR UPDATE

What do you earn, how much do you owe and how much are you paying off?

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
76 replies 28.7K views
SkintMonkeySkintMonkey Forumite
830 posts
edited 30 November -1 at 1:00AM in Debt-Free Wannabe
Like a lot of visitors to this site, I've taken a lot of positive inspiration from this site and hope that my question isn't too nosey!

I would quite like to know how much you earn, what your debt is and how much you manage to pay off a month.

I'm trying to work out my game plan to clear my debt and I've been wondering about these three things in relations in to each other.

Once I know what I'm going to be doing I promise to post my answer to my question!
threadbanner.gif
«1345678

Replies

  • Andybez38Andybez38 Forumite
    1.8K posts
    bit nosey aren't you. lol
    I came into this world with nothing and I'm gonna leave with nothing.
  • Andybez38 wrote:
    bit nosey aren't you. lol
    This is coming from the quiz master himself :p :rotfl:
    Work like you don't need money,
    Love like you've never been hurt,
    And dance like no one's watching
    Save the cheerleader, save the world!
  • joolz43joolz43 Forumite
    126 posts
    Obviously you start with your income, take account of your essential bills and the rest is for throwing at your debt. You should have enough to be able to live reasonably comfortably (without much in the way of luxury) but it is a struggle some months.

    I am not sure about giving the information you ask, because it is only relevant to my own case. I earn more than many here, have a large debt and pay £740 per month.
    Julie

    Proud to have dealt with my debts
    Debt July 2006 circa £55K
    Now Debt Free!!!! :j
  • hell, I don't care

    I earn approx. £32k (about 1900pm)
    I owe £7k on a credit card, £5400 on a loan, £2k on my overdraft and £500 on a joint account overdraft. Hubby just has an OD of about £700 (but the mortgage & credit card are joint)

    I pay £915 mortgage (my share is £500 as that covers water and something else out of the joint account)
    I try to pay double the minimum payment on the credit card, which is about 300pm
    pay 116 off the loan (non-flexible payment)
    we share the council tax (pay alternate months)
    I pay gas, he pays electric
    We each pay the insurance on a car, plus petrol, MOT, maintenance, etc (he is driving instructor so petrol is astronomical!). We do own both the cars outright though
    and then odds and sods off the ODs when I can

    I find it fairly manageable, which is why I've never done an SOA!

    Is that enough detail for ya? ;)
  • matt4504matt4504 Forumite
    230 posts
    Earn £13k approx
    Debt - £3k
    Varies each month how much I pay off... I don't have any real set schedule which is bad I know.
  • GalGal Forumite
    437 posts
    About 2/3 of my monthly wage.

    Earn £1200 a month (If Lucky).
  • Debt - see signature
    I pay 30% of my net income towards it each month
    Still wish I could buy a TARDIS instead of a house!
  • The_BossThe_Boss Forumite
    5.8K posts
    My debt is approximately three quarters of my salary, but back liviing at home means I can reduce my debts by a third before the end of January.
  • saubrynsaubryn Forumite
    610 posts
    I get full rate working tax credits so you can imagine I don't earn very much.

    I'm paying off 60 pounds a month towards my rent arreers, 10 pounds towards my council tax, and working something out with the electric. When they are cleared I'll put most of that amount towards the other debts in my sig, but keep a small amount for emergencies. These days if something fails or theres an unexpected expense its the food budget thats having to give, and we can't live like that :(
    DFW Nerd No. 140 :)
    Status as of 30/11/12
    [strike]Rent 2500 Council Tax 800 NlPower - 800[/strike][SIZE=-2]:j IF - 8000 :(British Gas - [strike]112[/strike] - 102 Lloyds - 1123
    Barclays - 306 Barclaycard 1,123 HSBC - 200 Capital 1- 400 Barclayloan - 4500[/SIZE]
  • Hi all, thanks for posting - sorry if you think I've been far too cheeky and nosey!!
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support