Turning Straw into Gold: Creating Long Term Security & A Solid Home

southern_chick

“if your debt isn't gone within 2 years you're not being aggressive enough”

This has got to be the most ridiculous and unhelpful advice you could read so honestly ignore it. Your debt could be £500 or £50,000 so this could be totally unrealistic to pay in 2 years. You are doing amazingly well and everything that you can do xx

Chocolatefund

I've heard this before.

The logic behind it is that the longer you take to get rid of debt, the less chance of success. It becomes harder to stay motivated and you essentially give 'life' more chance to throw something at you that will derail your efforts. There's also the mathematics of saving more interest the quicker you can pay it off.

But yeah, it's a bold blanket statement that really needs more context.

I reckon you've got a good shot of nuking that post grad loan though.

MillQueen

Right, I am throwing out the quote, by popular consensus.

@southern_chick, it's £18,362, so to clear it in 2 years would be £765 per month, which would be difficult.

@Chocolatefund, I hear you about there being less chance of success if it takes longer.

My wish for speed is just because I am finding the debt quite draining to have hanging over me.