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

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Comments

  • Bringing home £1300 pcm
    Owe £7000
    Currently paying £650 pcm

    (this is all about to change though as I've paid off my loan so all debt is on 0% credit cards, so I'll be paying most of that money into interest earning savings accounts from 1st November and shuffling the debt about until I can afford to pay it off!!)
    Student moneysaving club - member no. 6
    Uni Reading
  • saverram
    saverram Posts: 120 Forumite
    First Anniversary Combo Breaker
    i try to pay 52% approximately to my debts a, and nmy debts are 50% of my Gross annual Pay
    Target : to Live on 4k for 2008
  • saverram
    saverram Posts: 120 Forumite
    First Anniversary Combo Breaker
    i try to pay 52% approximately to my debts a, and nmy debts are 50% of my Gross annual Pay
    Target : to Live on 4k for 2008
  • joolsybools
    joolsybools Posts: 1,595 Forumite
    Hi, this is my first post although I've been a member for a while!

    I earn £17k and pay off £250 a month which is probably around 20% of my take home pay. Should be debt free in just over a year. My credit card will be under £3k after the next installment - YEAH!!!!
  • newleaf
    newleaf Posts: 3,132 Forumite
    First Post First Anniversary Combo Breaker PPI Party Pooper
    My debt is now down to about 45% of my annual salary and I pay as much as I can afford every month into a high interest account. Thankfully, it's all on 0% cards now and is coming down quite quickly, but the next 2 months will be tighter due to Christmas commitments.
    Official DFW Nerd No 096 - Proud to have dealt with my debt!
  • Torry_Quine
    Torry_Quine Posts: 18,828 Forumite
    Name Dropper First Post First Anniversary Bake Off Boss!
    I don't work as I'm disabled and my husband only earns approx £15,000 per year. However we owe nothing to anyone, have never had an overdraft or even had a credit card. We believe in only getting what we can afford and save at least £250 per month.
    Lost my soulmate so life is empty.

    I can bear pain myself, he said softly, but I couldna bear yours. That would take more strength than I have -
    Diana Gabaldon, Outlander
  • moozie_2
    moozie_2 Posts: 3,063 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    This has made me think and play around with figures :)

    When I started my debt quest, I owed 51% of my annual gross income. I then had a drop in salary but now the percentage of debt to income is 35%.

    Of my monthly net salary, I pay:
    1. 45% to debt repayments and overpayments
    2. 28% to joint expences
    3. 2% on mobile contract which has another year to run
    4. 25% on my personal spending

    I will feel rich once that 45% is mine to play with and save :rotfl:

    Good thread! :beer:
    Leason learnt :beer:
  • i earn just short of 20k and am paying back 335 a month on a DMP with cccs
    Official DFW Nerd number 227
    Proud to be dealing with my debts!!!!
  • pms
    pms Posts: 161 Forumite
    I earn about £17,460 a year as a Nursery Nurse

    Each month my take home salary is £1070

    I had debts of £20,519 (not including my car) up until March this year I was piling about 70% of my salary into my debts and had to pay a higher rent as I was living with a friend in her house. I moved back to my parents house in February and in March entered into a Trust Deed.

    Including my car repayments I pay £426 a month towards my debts. This is roughly 39.5% of my monthly salary.

    DFW Nerd no. 177 :)

    ~ Car HP - £1447.41 still to pay - Final payment July 2008 :T

    ~ 26 monthly payments left of my Trust Deed :)

    ~ Clear Credit Report March 2012 :T

    PROUD TO BE DEALING WITH MY DEBTS
  • i owe 1 1/2 times my annual salary and 50% of my monthly salary is going towards paying it off ............. its rubbish and i have no life BUT come april2010 and i won't know what to do with all my spare cash !!
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