I’m officially debt free now,

AntoMac

Just adding another well done. Must be great seeing your savings build up and the weight of the debt lifted

enthusiasticsaver

Well done on sorting this out and hope your brother repays you soon.  My advice would be that you do not bail him out again though if he does the same as he will never learn and if he knows you are debt free he may be tempted to ask you to help him out again.  I hope I am wrong but old habits die hard. Great that you were in a position to help but presumably you have things you would like to save for like your own home so horrible to have your plans jeopardised. 

sim2335

enthusiasticsaver - at the time when I helped him, he had a good job and thought it would be all paid of in a few months and he lost his job, and on top didn’t want him to move back cos we would share a room.

now I don’t care, he’s not ask me to take out a loan or anything, only small worry is what if I need money for myself one day as emergency

so gona save up a separate emergancy fund each month..how much should I save?

it wasn’t just my brother and gambler that messed things up, I spent money on hoidlays,was unemployed a lot

anyway that’s all I’m the past I’ve moved on in reality and in my mind.
my credit rating is excellent, I have a full time job for past 5 years..I have some savings and saving a lot more…I don’t lend to anyone very strong about this now, not in my wildest dreams would take out a loan.

monetxchange

Congratulations! I’m so glad to hear this. I remember your threads last year and how conflicted you felt about it all. Glad you made some tough financial decisions and started to help yourself. Now time to save hard for the mortgage!

A good lesson you’ve learned is don’t lend money you can’t afford to lose. I’d never lend any substantial amount of money ever again as I’ve been burned too. These “friends” always sounded sketchy and remember if someone is claiming they have a high paid job but are lending thousands off their (then) broke friend, there’s definitely some kind of bending of the truth there and your guard should be up.