39 weeks till the big 3-0!

Mike_St_Helens

tobedifferent wrote:

I don't think any of us ever thought we would be in this position, it all seems like it will be sparkly and roses right up until that lightbulb moment hits. I'm looking forward to the next ten years much more, and i'm going to start it with some debt but with a clean fresh slate and outlook. From reading your posts it looks like you are doing just the same. I'll be thinking of you next monday, but I won't be feeling sorry for you, i'll be toasting you with my cup of tea to a positive new future! You're doing the right thing hun.

Skintasusual - well done for cutting down, i'm aiming to quit completely too but am having real trouble trying to reduce what I smoke, need to go the whole way and just stop I think. Could really do with a fresh pair of lungs!!

TBD
xx

Thank you. x

skintasusual

I love it here

thanks guys :j

tobedifferent

Good morning, I've got a day off work today and I'm in a happy smily mood. Off to dye my hair (myself not the hairdressers), and then get on with the electoral roll canvassing and maybe do a couple of hours on the phone.

Feeling extra good as I have already been out to the supermarket and came in well under budget!

A very happy DFW day to everyone!

Dead_Eye_Jones

the big 3-0 arghhh, I feel your pain, bit longer to wait here but I bet it'll come round quick!

GL with the debts - sounds like you'll have it sorted in no time

climbgirl

Well, good luck with your challenge I hope you succeed!

Just one point though - front-loaded interest means that the interest is calculated at the start of the loan and added on to the loan's capital at the beginning. So you pay it all, regardless of how quick you pay back the loan. I know that paying back the loan will be a great psychological boost, but you're not actually saving any money by paying it back faster if it's front-loaded. You'd be better off (financially) by saving the extra money and making the interest that way. This of course, only applies to front-loaded interest, but you stated originally that your loans had this.

I understand the motivation to clear the debts though, so good luck with the challenge. Pick up as much 'entertaining' work as you can

tobedifferent

Hi climbgirl.

I thought this was the case too, however I checked with my bank and they have said that I only have to pay a months interest as penalty. They gave me a figure of what I would have to pay back if I paid back the loan today, the figure was nearly £3K lower than the outstanding amount showing on my internet banking! It drives me crazy, never again!!

TBDxx