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What would you do?

Lukas239 · 2019-10-02 16:45:59

Apologies if this is in the wrong place, relative newb. Just wanted to seek some opinions and perspectives on my current situation. Some background in as few words as possible; - Desperate to be debt free after graduating uni and starting my career. - have reduced ~11k of debt down to 4.7k in 20 months. - Have enough saved…

Comments

EssexHebridean Posts: 25,979 Forumite

7 October 2019 at 12:10PM

Having read your added info I'd still go for my "compromise route" buy a car this time round that will "do the job", get the debt paid off and then start to save for a car you might really want. in the meantime I'd also look into what other factors might be causing the sciatica or at least not helping it, and once the debt has gone I'd also look to make a start on a regular overpayment to the mortgage.

As others have said - your savings pot is not currently as big as you feel it is as some of that money is borrowed.

🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00

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