We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Getting there slowly.
worriedwilf
Posts: 93 Forumite
Hi
Good news... I have had a bit of a pay increase which means I have more spare cash to either throw at my debts or to build up an emergency savings pot. Not decided what to do. Salary has increased to £47500 (£3000 of that figure is guaranteed overtime)
I still owe about £25K ( it was well into the 30K's at the start) so its going in the right direction. I am paying £1225 towards my debts at the moment so it should take me another 2 years ish to clear everything. I can't wait!!
Does 25K still sound like a terrible amount of debt in comparison to my earnings?
Good news... I have had a bit of a pay increase which means I have more spare cash to either throw at my debts or to build up an emergency savings pot. Not decided what to do. Salary has increased to £47500 (£3000 of that figure is guaranteed overtime)
I still owe about £25K ( it was well into the 30K's at the start) so its going in the right direction. I am paying £1225 towards my debts at the moment so it should take me another 2 years ish to clear everything. I can't wait!!
Does 25K still sound like a terrible amount of debt in comparison to my earnings?
0
Comments
-
Wow well done you!!! You have a good salary there. If it was me I'd put the spare cash into savings. Once I'd saved as much as the debt total I'd use it to pay it off
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards