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**KimLinbert** · 08-24-2007, 03:19 AM

I ran up about 4k debt in student loans when I was at uni. 3 years after graduating I paid them all off in one go. I could have sat on them, incurring about 150 quid a year in interest - but I wanted them gone, so I saved up and paid them off.

Now my only debt is my mortgage. I never buy anything unless I can afford to buy it outright without stretching myself, and have enough saved up to enable me to survive about 2 years without work, although hopefully I will never find myself in that situation.

All that within seven years of leaving university. It can be done if you are sensible and logical about it.

What I think is funny is whenever you see those (UK) programs where they help people who are in debt; 99% of the time that person is in debt because they could not control their spending. Nothing else, just that.

It sounds like you are taking the correct and sensible approach. The biggest step is taking control of your spending. Once you do that, the rest will follow. I had nothing to show for my 4k in student loans - I pissed it all up the wall. I'm glad I have better control of my finances now for sure.

08-24-2007, 03:19 AM	#2
KimLinbert Join Date Oct 2005 Posts 457 Senior Member	I ran up about 4k debt in student loans when I was at uni. 3 years after graduating I paid them all off in one go. I could have sat on them, incurring about 150 quid a year in interest - but I wanted them gone, so I saved up and paid them off. Now my only debt is my mortgage. I never buy anything unless I can afford to buy it outright without stretching myself, and have enough saved up to enable me to survive about 2 years without work, although hopefully I will never find myself in that situation. All that within seven years of leaving university. It can be done if you are sensible and logical about it. What I think is funny is whenever you see those (UK) programs where they help people who are in debt; 99% of the time that person is in debt because they could not control their spending. Nothing else, just that. It sounds like you are taking the correct and sensible approach. The biggest step is taking control of your spending. Once you do that, the rest will follow. I had nothing to show for my 4k in student loans - I pissed it all up the wall. I'm glad I have better control of my finances now for sure.
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