We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
What should I do? Use my disposable income to pay off outstanding debt?
Options

Greg89
Posts: 352 Forumite

-Mobile phone debt one £64pm (around £1.7k left)
-Mobile phone debt two £6pm (few payments left)
-Loan one £80pm
-Loan two £100pm (13 payments left)
-loan 3 £25 (£710 left)
-dwp £27 (4 payments left)
-mobile phone £13
DD £317pm
Food £120pm
Travel £200pm
Rent £200pm
Roughly: £837 left
-Monthly wage £1630
-Around £793 left
Haircut £15 pm
-Money left £778
I don't really go out and wish to go out, have a bit of a life, I normally go pubs twice every month
Drinks and food £35 each visit (food and 6 pints)
£70 gone
-leaving £700
Should I focus on having a £100 buffer, as you do need a life, maybe go out and visit somewhere once a month, maybe go somewhere
Which leaves £600
How should I split the £600?
Maybe leave half for savings?
Save £300
-£300 left
I need to cut out getting breakfast when I go out and food which can easily be £6 per day for breakfast.
-Mobile phone debt two £6pm (few payments left)
-Loan one £80pm
-Loan two £100pm (13 payments left)
-loan 3 £25 (£710 left)
-dwp £27 (4 payments left)
-mobile phone £13
DD £317pm
Food £120pm
Travel £200pm
Rent £200pm
Roughly: £837 left
-Monthly wage £1630
-Around £793 left
Haircut £15 pm
-Money left £778
I don't really go out and wish to go out, have a bit of a life, I normally go pubs twice every month
Drinks and food £35 each visit (food and 6 pints)
£70 gone
-leaving £700
Should I focus on having a £100 buffer, as you do need a life, maybe go out and visit somewhere once a month, maybe go somewhere
Which leaves £600
How should I split the £600?
Maybe leave half for savings?
Save £300
-£300 left
I need to cut out getting breakfast when I go out and food which can easily be £6 per day for breakfast.
0
Comments
-
How much total debt do you have and when is it due to be paid off? Presumably no interest is being charged?I would be inclined to save all disposable income and maybe offer F and Fs.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£301.35
Save £12k in 2025 #1 £12000/£80000 -
What interest are you paying? After we cleared some of our debt, I have the last 3 (all at 0%) concurrently running for the next 6 months and clearing together and have been finding this tough compared to them being gone one by one. Once you are fully aware of the details of each debt, focus on paying an 'easy' one off to give you a psychological boost. Have you also got a buffer as an emergency fund just in case something happens and you need to find some money quickly to solve it, rather than adding to debt?0
-
Thank you for your responses.
I will have a disposable income of £700/£600 left each month.
I'll put away half into savings.
And £100 going out.
Which leaves £200/£300 left.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards