60 months until I am 50 & hope to be debt free

2chook

Hello all I am embarrassed to admit that I am living beneath a black cloud of debt . I need to sit & work it all out but if I'm honest and realistic it's going to take me at least 5 years . In 5 years I will be 50 . Huge birthday and if I can be debt free by then , best ever gift to myself

crazy_cat_lady

Good luck - do you have a budget ready to go?

http://www.stoozing.com/calculator/soa.php

2chook

Off the top of my head at least £340 a month :eek:

Dandytf

its an excellent incentive...50...5 yrs don't put yourself under too much pressure, if you mange to clear 90+% you feel much better:)

andyfromotley

Good thing is when black clouds eventually shift they are usually followed by beautiful sunshine.

sourcrates

andyfromotley wrote: »

Good thing is when black clouds eventually shift they are usually followed by beautiful sunshine.

You should be a poet my friend lol !!!!!

Bobarella

Good luck with your debt free efforts. You can definately do it!

2chook

Thank you all . I have done a very quick look at my debts, I owe about £20, 000 on credit cards . How sickening , I have been using these for years and honestly have nothing to show for them . I pay only the minimal payments each month , so nothing is clearing . Have applied for a 0 % card but it doesn't touch the huge amount as the credit limit is only £5,000 . maybe I should apply for more 0% CC & spread the balances over them , if that makes sense.