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  • FIRST POST
    • SkintMonkey
    • By SkintMonkey 10th Oct 06, 5:35 PM
    • 819Posts
    • 311Thanks
    SkintMonkey
    What do you earn, how much do you owe and how much are you paying off?
    • #1
    • 10th Oct 06, 5:35 PM
    What do you earn, how much do you owe and how much are you paying off? 10th Oct 06 at 5:35 PM
    Like a lot of visitors to this site, I've taken a lot of positive inspiration from this site and hope that my question isn't too nosey!

    I would quite like to know how much you earn, what your debt is and how much you manage to pay off a month.

    I'm trying to work out my game plan to clear my debt and I've been wondering about these three things in relations in to each other.

    Once I know what I'm going to be doing I promise to post my answer to my question!

    Last edited by MSE Jenny; 17-10-2006 at 4:37 PM.
Page 1
    • Andybez38
    • By Andybez38 10th Oct 06, 5:37 PM
    • 1,676 Posts
    • 1,130 Thanks
    Andybez38
    • #2
    • 10th Oct 06, 5:37 PM
    • #2
    • 10th Oct 06, 5:37 PM
    bit nosey aren't you. lol
    • iwanttosave
    • By iwanttosave 10th Oct 06, 5:39 PM
    • 32,245 Posts
    • 23,299 Thanks
    iwanttosave
    • #3
    • 10th Oct 06, 5:39 PM
    • #3
    • 10th Oct 06, 5:39 PM
    bit nosey aren't you. lol
    by Andybez38
    This is coming from the quiz master himself
    Work like you don't need money,
    Love like you've never been hurt,
    And dance like no one's watching

    Save the cheerleader, save the world!
  • joolz43
    • #4
    • 10th Oct 06, 5:41 PM
    • #4
    • 10th Oct 06, 5:41 PM
    Obviously you start with your income, take account of your essential bills and the rest is for throwing at your debt. You should have enough to be able to live reasonably comfortably (without much in the way of luxury) but it is a struggle some months.

    I am not sure about giving the information you ask, because it is only relevant to my own case. I earn more than many here, have a large debt and pay 740 per month.
    Julie

    Proud to have dealt with my debts
    Debt July 2006 circa 55K
    Now Debt Free!!!!
  • Dolly Smith
    • #5
    • 10th Oct 06, 5:45 PM
    • #5
    • 10th Oct 06, 5:45 PM
    hell, I don't care

    I earn approx. £32k (about 1900pm)
    I owe £7k on a credit card, £5400 on a loan, £2k on my overdraft and £500 on a joint account overdraft. Hubby just has an OD of about £700 (but the mortgage & credit card are joint)

    I pay £915 mortgage (my share is £500 as that covers water and something else out of the joint account)
    I try to pay double the minimum payment on the credit card, which is about 300pm
    pay 116 off the loan (non-flexible payment)
    we share the council tax (pay alternate months)
    I pay gas, he pays electric
    We each pay the insurance on a car, plus petrol, MOT, maintenance, etc (he is driving instructor so petrol is astronomical!). We do own both the cars outright though
    and then odds and sods off the ODs when I can

    I find it fairly manageable, which is why I've never done an SOA!

    Is that enough detail for ya?
    • matt4504
    • By matt4504 10th Oct 06, 5:48 PM
    • 230 Posts
    • 56 Thanks
    matt4504
    • #6
    • 10th Oct 06, 5:48 PM
    • #6
    • 10th Oct 06, 5:48 PM
    Earn 13k approx
    Debt - 3k
    Varies each month how much I pay off... I don't have any real set schedule which is bad I know.
  • Gal
    • #7
    • 10th Oct 06, 5:49 PM
    • #7
    • 10th Oct 06, 5:49 PM
    About 2/3 of my monthly wage.

    Earn £1200 a month (If Lucky).
  • frugglewump
    • #8
    • 10th Oct 06, 6:06 PM
    • #8
    • 10th Oct 06, 6:06 PM
    Debt - see signature
    I pay 30% of my net income towards it each month
    Still wish I could buy a TARDIS instead of a house!
    • The Boss
    • By The Boss 10th Oct 06, 6:09 PM
    • 5,713 Posts
    • 3,773 Thanks
    The Boss
    • #9
    • 10th Oct 06, 6:09 PM
    • #9
    • 10th Oct 06, 6:09 PM
    My debt is approximately three quarters of my salary, but back liviing at home means I can reduce my debts by a third before the end of January.
    • saubryn
    • By saubryn 10th Oct 06, 6:12 PM
    • 600 Posts
    • 264 Thanks
    saubryn
    I get full rate working tax credits so you can imagine I don't earn very much.

    I'm paying off 60 pounds a month towards my rent arreers, 10 pounds towards my council tax, and working something out with the electric. When they are cleared I'll put most of that amount towards the other debts in my sig, but keep a small amount for emergencies. These days if something fails or theres an unexpected expense its the food budget thats having to give, and we can't live like that
    DFW Nerd No. 140
    Status as of 30/11/12
    Rent 2500 Council Tax 800 NlPower - 800 IF - 8000 British Gas - 112 - 102 Lloyds - 1123
    Barclays - 306 Barclaycard 1,123 HSBC - 200 Capital 1- 400 Barclayloan - 4500
    • SkintMonkey
    • By SkintMonkey 10th Oct 06, 6:53 PM
    • 819 Posts
    • 311 Thanks
    SkintMonkey
    Hi all, thanks for posting - sorry if you think I've been far too cheeky and nosey!!
  • K9cuddles
    39% min on a 17k Salary
    Official DFW Nerd Club - Member no. 092

    ::2 - CSC - Terramundi is filling up!! :: Joined 3/3/06 :: 5/2/07 - 835kg + 280 Banked!!::
    ::5p,10p & 20p - Savings Tin :: Founded 9/4/06 :: 23/3/07 - 3.2kg ::

    Lost to date - 9kg (22/8/06) Next weigh in 2007!!
  • Willsnarf1983
    enough, to much, a certain amount
    SShhhhhhhhhhhhhhhhhhhhhhh
    • BargainHunterCat
    • By BargainHunterCat 10th Oct 06, 7:40 PM
    • 458 Posts
    • 261 Thanks
    BargainHunterCat
    Well at the moment I'm lucky if I take home £800 a month.

    See below for debts...

    I can just about afford to live but my debtors are getting token payments of £1 at the moment because that's all I can afford without ending up homeless, barefoot & ragged with a scrap-metal-worthy car outside the house!

    Just lost my job, I've been crucifying myself & going without everything including clothes, shoes, days out, car repairs, petrol etc trying to pay off my minimum repayments of £256 a month but I can't afford them anymore.

    It's not a nice situation to be in...trust me!

    Not that my ex-hubby cares...

    (bitter? who me?!)
    Debt 2007 17k

    Current Debt approx 7.5k

    Target - to pay off all debts by 2020
  • postingalwaysposting
    earn - approx 800 per month
    owe - nothing
    pay off - nothing
    save - 500

    • anniestar
    • By anniestar 11th Oct 06, 8:16 AM
    • 2,572 Posts
    • 13,135 Thanks
    anniestar
    1) Not enough
    2)Far too much
    3) As much as we can afford
  • Smashing
    Hi all, thanks for posting - sorry if you think I've been far too cheeky and nosey!!
    by SkintMonkey
    I shouldn't worry - those who feel comfortable can share, those who don't can feel free not to. Simple!
    • Luckystepho
    • By Luckystepho 11th Oct 06, 8:56 AM
    • 338 Posts
    • 648 Thanks
    Luckystepho
    Wages; approx £1,300 per month plus travel allowance.
    Debts; Natwest Loan, £16,500, Credit Cards approx £4,000, Adsa card £230.
    Pay minimum amounts as cards are at 0% at mo, trying to put money into savings account to pay off lump sum but something unexpected always seems to happen each month!
    Interesting thread!
  • Rgc
    Like a lot of visitors to this site, I've taken a lot of positive inspiration from this site and hope that my question isn't too nosey!

    I would quite like to know how much you earn, what your debt is and how much you manage to pay off a month.

    I'm trying to work out my game plan to clear my debt and I've been wondering about these three things in relations in to each other.

    Once I know what I'm going to be doing I promise to post my answer to my question!
    by SkintMonkey
    Hi
    i suppose on the surface it does seem a bit nosey ....but i think i see why your asking the question...its all pro rata aint it(500.00 is a mountain f debt to some but to others it be a wish come true if it was the whole debt )which explains the different options people take to tackle their own finances.

    Im not so mch having a lghtbulb moment just now i think it be more accurate to call it a fluorescent moment with a diodgy starter but in terms of percentages my loans against salary is around 60% going to loans with total outstanding debt being around 144% of yearly salary(like i say i still need to get accurate figures together(Put a new starter in )

    Sooo i guess the debt in terms of a percentage is more useful to you to help you work out your own plan of action.

    Overall monthly outgoings take 100% of salary (without housekeeping etc as my wifes salary accounts for that)

    just rough figures and im going through them all next week when im home(work away from home)

    good luck
  • dinkylou
    I pay about 15% of my salary, but then I live alone so all bills/mortgage/living expenses come out of that salary too.
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