What a Right Pickle!

gardenlady_2

No more debt- I agree with you about the nasty comments, they are unnecessary. You have only ever been very even in your responses, and I admire you for that.

Tabatha_Kitten

Well done for posting OP.
I hope you manage to make this work for you.

Lucy1010

Whoops.... I feel bad now, I was one of those that thought this thread might be fake.... do forgive me!

Good luck with everything :-)

nomoredebtplease

Lucy1010 wrote: »

Whoops.... I feel bad now, I was one of those that thought this thread might be fake.... do forgive me!

Good luck with everything :-)

I am very much real Lucy1010!

365days

2 - My wife will still be left with an income of about £1,400 a month once she leaves her job. That may not have been clear from my previous post. That will cover school fees. Other non-overdraft debt will be about £20K.

Just be careful with that. Your SOA says school fees are £1800 a month. That's a nearly 5k an annum shortfall on your wifes income.

nomoredebtplease

365days wrote: »

Just be careful with that. Your SOA says school fees are £1800 a month. That's a nearly 5k an annum shortfall on your wifes income.

I think (although I'll need to check later) that the £1,800 was based on there being no bursary ie. worst case scenario. We currently have a bursary until the end of the Summer term. I will need to confirm that later on though

365days

nomoredebtplease wrote: »

I think (although I'll need to check later) that the £1,800 was based on there being no bursary ie. worst case scenario. We currently have a bursary until the end of the Summer term. I will need to confirm that later on though

Yes do! I'm guilty of it myself when I say 'Oh that will cover that' and find out over a year actually it comes nowhere near. 5K is a lot to not be sure where it's going to get covered from.

heartbreak_star

I think we're all just frustrated at:

a) what appears to be someone trying to maintain a lifestyle they can't afford. "We're ambitious people" - well if you're that ambitious don't buy anything else on credit ever...that's something to strive for, no? and

b) not taking the absolutely stellar advice that was given politely to begin with. OP, you pay more on school fees than I earn a month before tax. It will do your kids good to attend a normal school for their younger years and mix with loads of other kids...they're not really going to know either way.

I believe that you are trying to sort this, after a fashion, and I desperately hope that it all works out for you and that we don't see you in a worse situation in a few years.

The absolute best of luck to you!

HBS x

nomoredebtplease

heartbreak_star wrote: »

I think we're all just frustrated at:

a) what appears to be someone trying to maintain a lifestyle they can't afford. "We're ambitious people" - well if you're that ambitious don't buy anything else on credit ever...that's something to strive for, no? and

b) not taking the absolutely stellar advice that was given politely to begin with. OP, you pay more on school fees than I earn a month before tax. It will do your kids good to attend a normal school for their younger years and mix with loads of other kids...they're not really going to know either way.

I believe that you are trying to sort this, after a fashion, and I desperately hope that it all works out for you and that we don't see you in a worse situation in a few years.

The absolute best of luck to you!

HBS x

Thanks for the advice. It really is appreciated.

With regards to point a) then yes, we are absolutely with you on this now. Credit cards should in my mind be renamed Debt cards (they wouldn't be half as popular then!). The cards are being cut in half.

With regards to point b) I'm afraid I don't quite understand. With respect, I think it's irrelevant that we pay more on fees than you earn. Just as it would be irrelevant that someone else spends more on champagne in a month than I earn! It's all relative.

Equally, whilst I appreciate everyone's comments on how 'it will do them good to mix with loads of other kids', it does make it sound like they are attending some ultra strict grammar school full of toffs - it's actually not at all like that. It's a very normal, down to earth school with very normal, down to earth parents who just so happen to choose to send their children there.

We have viewed other primary schools in the area and yes, there are some very good ones but we absolutely love the school they are at and it continues to be our priority.

CH27

nomoredebtplease wrote: »

Thanks for the advice. It really is appreciated.

With regards to point a) then yes, we are absolutely with you on this now. Credit cards should in my mind be renamed Debt cards (they wouldn't be half as popular then!). The cards are being cut in half.

With regards to point b) I'm afraid I don't quite understand. With respect, I think it's irrelevant that we pay more on fees than you earn. Just as it would be irrelevant that someone else spends more on champagne in a month than I earn! It's all relative.

Equally, whilst I appreciate everyone's comments on how 'it will do them good to mix with loads of other kids', it does make it sound like they are attending some ultra strict grammar school full of toffs - it's actually not at all like that. It's a very normal, down to earth school with very normal, down to earth parents who just so happen to choose to send their children there.

We have viewed other primary schools in the area and yes, there are some very good ones but we absolutely love the school they are at and it continues to be our priority.

I know it's your priority but if you take them out now & get your debts repaid ASAP you can put them back into the school from 11 onwards.

The economy is unstable & who knows what will happen with interest rates etc in the future.

IMO it will be far worse to take them out in a few years than it will be now.