Where does all the money go?!?! £1,000 PCM...24 months to go!!

YoungBusinessman

I think so too but it will soon pass....I reckon il be 2 years to debt free date by the end of this year...which will give me a year to save up for the next place. By my budgeting forecasts/what iv been managing the last 3 weeks or so then I could well get down below 20k by the end of 2015. Obviously meaning same payments in 2016 will take off a lot more of the balance as interest won't be near as high. Such horrible weather today.

gothrockchic1

Hi, glad to see you are still with us. Well done on the laptop. Keep plugging away at it. It won't be long before you can move on.

abby1234519

YoungBusinessman wrote: »

Well sorry iv taken so long to come back on but normally post on my iPhone. Been off work for 3 days straight now due to weather so used it to try and sort my laptop with no experience of doing so previously.......and its running brand new!!!! Feel like its £400 saved!!! Also been doing a lot of skip runs and clearing out my house, feels so good when you get up in a morning and the house is tidy, same when you get in from work and theres nothing out of place. Once get all washing/cleaning done and into good habits its so much easier than letting it all build up and then it takes ages to get it done.....I don't sound like a 23 year old male, eh?!




Been working at the emergency fund(would like to get this upto 4 months ahead(before I throw everything spare at debts) so I have about 4k left to save before I can get into overpayment mode. With a bit of luck I can get to the emergency fund goal by the end of the year giving all surplus income to the debts next year. Bearing in mind I will have court costs coming end of November/December so will stunt the savings a bit!!


Doesn't really feel iv that much time on my side, was planning engagement before too long, looks like that will be on hold until 24+ so 2016!!


Such a horrible day. Away to play about with budgets/look at property for our next move to keep me motivated for the end goal once all this debt is finally gone!! Thanks for everyone who has pm'd and replied on here, absolute love the support you get on the forums, id go as far to say its better than it is IRL.

To be honest, considering your age as well as what you earn, as long as you can pay this off even within 5 years you are okay. Most people who get into a large amount of debt at your age (I'm not much older) don't have so much of an income!

What do you do for a living? Is it something you can do as a contractor? It clearly must be something skilled to earn what you earn, couldn't you consider contracting whilst there is a greater risk in terms of employment longevity, the gains for a skilled worker are huge financially. Might be the wrong advice just a thought, especially if you could secure a 12 month contract

YoungBusinessman

28 seems a long way off, Abby!!! Im sure itl soon come round before I know it though, I need to get a 5 year plan in place, some goals and guidelines as to where im heading. The first of many goals will be a short term one such as build that emergency fund to 4 months expenses!!


I have a skilled job that I trained for 4 and a half years for. I could contract at any time although while the debts are so high I wouldn't want to chance it as I like having the job security there and the holiday pay(so if weather half decent over xmas I can put in a day or twos work and more or less get double time for it)


Im looking to up my income in 2015 aswel purely by longer hours and working smarter. Income up and expenses down with the difference in the middle going to debts.

girlatplay

YoungBusinessman wrote: »

...absolute love the support you get on the forums, id go as far to say its better than it is IRL.

I agree. I love my friends IRL to bits but the support here is second to none. No judgement and because you can stay anonymous there is no awkwardness

YoungBusinessman

girlatplay wrote: »

I agree. I love my friends IRL to bits but the support here is second to none. No judgement and because you can stay anonymous there is no awkwardness

Absolutely. Also other posters in similar or even worse situations than yourself makes you feel like you have support and are not alone as there are millions of people in the uk in debt. Getting some work done today finally but still can't make up for 4 days loss of work due to weather....considering working Sunday aswel as Saturday as got to make the most of the weather now before I'm starting/finishing work in darkness and it's too frosty to do anything.

YoungBusinessman

Watching a recorded programme "can't pay, we'll take it away" by god some of these evictions are brutal, I need rid of these debts once and for all. Working this weekend, first of many as this is not the way I want to live my life, living payday to payday and paying the bank first.

YoungBusinessman

Well after a busy but alcohol-free(yippee, must be first one this year!!!) weekend im chilling infront of the tv with my newly sorted laptop on so I can browse these amazing forums......Feeling so positive about things!!


Excited to build up the emergency fund before going gung-ho at the debt and getting it smashed down as soon as I can. I seen a different thread on these boards asking how much your debt worries you. Mine doesn't seem to worry me....yet. As im still on summer income as far as work is concered, this will change when we are hit with 2/3 weeks of snow/frost so work slows to an almost stand still. Nothing that can be done though, got to grin and bear it! My last chance to get some overtime whacked in probably these next 4 weeks before im starting work in the dark and finishing in the dark!!


Enough rambling for now, away for a browse of the forum and some property sites. Found out next door sold for £10k more than we paid 2 years ago and it needed modernised before anyone could move in. Suppose it is irrelevant unless we sell/remortgage(which isn't until end 2017) but better up than down!

YoungBusinessman

Quite a quiet weekend, spent more than i should have/planned to but in my defence it is work stuff i bought. Worked all day yesterday and im working both days next weekend, last chances to boost income before winter weateher kicks in, its already dark when im going to work and same for way home. OH is away out with her sister tonight so away to put my feet up and chill.

patman99

Nice to see you are still focused on the end-game.

I was hoping to work this weekend, but the company owner put his foot down as apparrently being that I am an agency worker, I cost to much money'.