SS's 2008 Debt Free Diary

mrsspendalot

I partied about getting under £6k SS, but really I never was .... I just get to celebrate it all over again!

You have still paid off a HELL of a lot of debt hun. How much matched betting will you have to do to pay it off huh?

You're SS - you'll find a way to have that £2.5k gone in no time

ZTD

southernscouser wrote: »

I just feel like all the landmarks you guys have celebrated with me were false. And my records I've kept are wrong. The total amount I was in debt should be more.

And it adds about another £2,500 to the debt!

But in a few months time it'll swing the other way (ooer!) because the real exponential (ish!) function will be taking off far more capital than your linear approximation will.

Swings and roundabouts.

spud30

southernscouser wrote: »

I just feel like all the landmarks you guys have celebrated with me were false. And my records I've kept are wrong. The total amount I was in debt should be more.

And it adds about another £2,500 to the debt!

You know how us DFW's like to party. This is just an excuse for extra celebrations when the targets ARE met :T

Mrs_Sparkle

Good luck SS! Why don't we have a competition to see who can be debt free first? That might give you a push as I know you hate being beaten by girls

I'm ahead of you now but I've got a huge mortgage and childcare bills which will slow me down so you've got the upper hand there.

southernscouser

But now what do I do?

Do I leave my debt at it's highest total as it is, or calculate it with all the interest on top as it was front loaded? :undecided

ZTD

Calculate it the same way.

Mrs_Sparkle

Why don't you get a settlement figure from egg and use that? I wouldn't count the whole total with all the interest because you're not going to pay it all are you?

southernscouser

I don't even know what to do now!

I could leave the loan at £9,848.61 and carry on deducting £297.62 every month. But I will have to pay more than that to clear it.

Or update it to £12.261.81 and deduct £371.57 a month!

But then if I update it now, it throws all my old records out of synch. So it will look like I haven't paid as much as I have! :undecided

spud30

Your starting figure would need to increase, as well as your current debt figure so you've still paid the same amount off

Mrs_Sparkle

I always used to put the whole amount incl interest and deducted my £399 payment every month. But if you're going to do that you should make your original total higher to reflect how much you've paid off.