Episode 11 (the should I pay off one) Your Views

john_s_2

Lizalu wrote: »

While the money error you pointed put goes completely over my head, I think "to loan" is now considered acceptable. http://www.askoxford.com/concise_oed/loan?view=uk

Yeah, you're probably right. There are no rules to English after all (unlike French). I have nothing against nouns being turned into verbs, but it does grate when there's a perfectly good verb already.

There's more important things to worry about I suppose ;-)

I've looked this up previously on Wiktionary:

http://en.wiktionary.org/wiki/loan#Verb

And it says that the verb usage is US only. But your Oxford link (and who can argue with Oxford) says it's UK usage. So there you go!

mumtoomany

Hi all, I watched on wednesday night (but was interupted by OH). I was interested in the film about Tracy and her family, and how little they spend. I along with many others on this site am trying to cut food bills. We are a family of 7 and are spending around £50 per week on food. Tracy, if you are reading this, I'm sure the program said you were spending much less than this. Am I right? If so how do you do it please. Thanks, M2m.

Wyndham

Missed it! The Lancaster transmitter was down and we had no TV at all from Wednesday morning to Thursday afternoon. Something to do with upgrading it to be digial ready, but if this is the future then I'm not a fan.

I'm sure it was good though. Did you all enjoy it?

lucien2k

I've actually been trying to figure this out myself. Is it better to get rid of student loan or mortgage first.

Oddly enough I might get rid of the student loan first. Here is my reasoning.

If I pay off my mortgage then the loan repayment actually reduces, paying off £10000 (average student debt) from a mortgage cuts monthly payments by around £65 @ 5.8% over 25 years.

Whereas for someone paying 9% of their income over £15000:
£20k income, £450 a year (£37.50 a month)
£25k income, £900 a year (£75 a month) ~ Average UK Earnings
£35k income, £1800 a year (£150 a month)
£45k income, £2700 a year (£225 a month)

So for immediate cashflow getting rid of the student loan appears a better option for people earning £25k or over.

Now for the balancing arguement, if you your income drops then you're paying less student loan vs the mortgage payment which is unchanged.