How much do you spend on debt payments each month

newmum1

I ve just been looking at some people signatures, and its just come to me that we all have debt but some of us manage to pay off larger amounts real quick, now i have just under 10,000 to pay off but some people have 2 or 3 times that and will pay it off quicker, which i think is amazing. each month i pay (to be precise) £282. sometimes more if i have it.
what does everyone else pay?

Sea78

I used to pay £1200, now on DMP I pay £292 - so it's going to be a lot longer to be debt free!

mrsspendalot

I pay £300 a month minimum, plus whatever extra I can afford by cutting back etc.

tesuhoha

I try to pay off £1,000 but it doesnt often happen. Some bill always comes along to floor me or some new expense. Debt payment is the thing I love to spend money on but in seems to come last.

postingalwaysposting

umm before confessing i was spending £50.00 per month since confessing nearly £200.00 a month... i must say though people wages on here are very very different and someone could be earning £800.00 and paying back debt in the region of £400.00 pcm whereas someone else may be earning £2600.00 and only paying back £100.00... likewise someone with higher take home can afford to pay more debt off whereas someone with a smaller income will only pay a fraction of debt off... this has to be taken into consideration

lauralla

We pay back approx £1,134 each month, and we take home £2,368. So around 50%, but we have just over £20k of debt, and want to be debt free before xmas 2008. Fingers crossed!!

this_year_2

Around about £300 more if i can but i always pay household bills and other essentials first

Crown

I guess this really does come down to your income as alwaysposting has already posted. I cannot honestly say its a the same amount each month that I pay but i do know that I do not have savings and all my free money goes towards paying off some debt.

I probally pay around £600 back on a month on household income of around £2500 a Month but saying that the rest goes on living Expenses and Mortgage.

I think it would be hard to honestly say I pay X amount a month as its got past the point that I know what my monthly payments should be and is now more of a salvage operation lol

piglet6

This month it was £91. Last month it was £93. We are set to repay the minimum each month on a 0% credit card (and we are tarting so that we pay the minimum possible with no added interest! :rotfl: ).

However, this is not meant to sound boastful or preachy. When we had bigger debts (not on 0%) we paid as much as possible (direct debits set at the minimum and then we just paid off as much as possible in addition in "cash over the counter" - it was surprising how much of a difference it made...! )

This time last year, we were paying off between £800-1000/month :eek: (a mix of spare 1st job money and total 2nd job money). If anything, we are living proof that paying off as much as possible can make a very big difference in a very short while... :rolleyes:

Piglet

lambanana

£250 a month at most, my debt isn't huge but that's all I can realistically afford anyway

ms_london

I paid around 900 - 1000 pounds a month (cant remember which one it was now!!) - and this was on a take home pay of 1,500 a month with a 2nd job & ebay income.

Becoming debt free was the best thing ever!!

Its funny though as you think you'll be rich when you are debt free having all that extra money for yourself each month. It doesnt work like that and instead you just find other things to spend it on!! Although at least it is for you rather than the bank! :rolleyes:

Now I am funding my travels, then it will be saving up a deposit on a house, then it will be trying to be mortgage free as quick as I can, and I am sure that somewhere in there I will get married & have kids (although thats a looooooooong way off!). Blah blah blah blah!! :eek:

At the moment I am giving myself a headache trying to work out how I can fund the rest of my trip. I know, a hard life, but its a horrible feeling, because I dont have any flights booked or paid for and will need to get home somehow.. Hmmmmm. Back to the drawing board I think!!