[Diortarkivoff]

this may be to personal to some of you guys but, how many of you guys are making major efforts to becoming dept free or are in so much debt that you cant really cope.

I had a few financial difficaulties left for me in the past primarily caused by an ex girlfriend and my self,but I am now officially 8 payments of 470 quid left so that should work out that in may 2008 I will be totally financially burden free and I can finally move on.

ive never been financially overstretched with my debts to the point of claiming insolvancy, and Ive never had to sell stuff to make ends meet, but a few friends have said that since they have been in the RAF they are more in debt. but for me its become the opposite ive purposely budgeted over the last 4 years of my RAF career to sort my self out.
I tell you what I can definately make my bugeted funds last a month and still maintain some of my lifestyle (going out ect)

I can definately see the light at the end of the tunnel and once im through I will not be going back there.

what I did is bite the bullet and lump all of my debts together and set it to be paid off all in 24 months and ensure that I wouldnt buy shite that I couldnt really afford/not essential to me, that included pc hardware tbh ive lost interest in PCs and I havent upgraded or bought any pc stuff since 2003 which I would say after the debts I was left with from a previous relationship would be the main culprit for syphoning money that could be used to pay my debts quicker.

so are you guys activley paying ur finances off as quickly as possible or are you letting em tick over accruing interest that makes you pay more off in the long run.

[KimLinbert]

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.

[Trissinas]

I'll officially be out of debt in January [thumbup] , then I can start my dream job in paradise.

[77Dinaartickire]

I hate debt. I dont use a credit card ever. Currently i have a mortgage and a loan for $3000 for the ambulance i just bought.

Previous debts would be 1.5k for school (last year wasn't covered by Finacial Aid)

Oh, cant forget the $4k Colonoscopy bill that took me a few years to pay off.(didn't have health insurance)

[HQTheodore]

Yup, major debt.

$50K in college.

$406K for house.

$53K for car just purchased.

Yippee!

[huntbytnkbel]

I repayed over 15k in debts in the past three years, a burden off my lifestyle and income being not equal. Still not sure if we got all plaintiffs, fairly uncertain in my case, but almost all of them. Took a load off my chest not having to worry about people showing up on my doorstep to collect their money's worth [no]

[wallyfindme]

Oh, cant forget the $4k Colonoscopy bill that took me a few years to pay off.(didn't have health insurance)

Must have been a pain in the arse.

Myself, I've never really been in debt but then again I don't have any expensive possessions.

[DumbNelmcrece]

i always tend to spend what i dont have, but never get myself seriously in debt of spend to the extent that i cant pay it off over time. i find it hard to save up for something, but instead buy things on finance or credit and pay them off over time. i can budget for that so it works out ok. best thing to do it just limit yourself to a small number or just one credit card, but to still look at credit cards as positive things, like a way to buy things, rather than a way to loose money by interest.

[arindiruppya]

I have £2800 or there abouts from uni. But I have about £14k in savings, so technically I'm ahead

Oh and I've never had a credit, or used credit of any kind. Nor do I want to, though I think I may have to get a credit card when I travel abroad this winter.

[Casyimipist]

I have a large debt - recently made worse from quitting a highly paid job to come home because my mother got ill.

I am not so concerned about it, since I am a lot more wise with my spending habits, but I still go out and enjoy myself!

BTW debt is not so bad, the UK government runs with a massive debt, yet still has a 'budget'!!

[rofl]

[avaiguite]

the debt i have is basically student loan which amounts to about 6k, i don't even earn enough to pay it off which is how crap my pay is but i am looking for a new job

i have a credit car, but its paid off every month by direct debit so i can't buy stuff i can't afford

i had a ex that wasn't good for my finances, i helped her out a little not a huge amount and then we split. didn't put me in more debt just prevented me from getting out of the overdraft i was in

now i am in a fairly good position, finances managed pretty well currently and i don't spend what i can't afford

[PemiaGefe]

i hate debt too, i rather people own me money and pay me interest....
i try not to buy stuff unless i have the cash somewhere, payoff my small house asap then to drag...
i will get bigger home when i have half in cash, a long time of saving but i hate paying interest!

before i can afford to buy a bigger house, i will keep the money in unit trust, so i can even make a profit from not spending... [rofl]
or i won't buy a house and use the money to start some business. depend if i still have the energy to resist and struggle on...

capitalism is cool no?
i will likely retire in some 3rd world country to live like a king.

[Amorsesombabs]

Oh, cant forget the $4k Colonoscopy bill that took me a few years to pay off.(didn't have health insurance)

Gotta look after your anus.

I got like 6000 dollars debt with the bank, thanks to my decadent overspending lifestyle.

Will hopefully pay it off by mid-08.

[WrinnaArraple]

I managed to clear $10K CND of debt from 2003 to 2006. That put me at zero for the first time since I was a kid. Managed to rake in $12K in RRSPs as of last June too. It's a good feeling.

[Jimambol]

I hate debt, so i havent got any. Cleared my student loan and i keep within my means. And I like to save most of my spare cash anyway.

[9rCR9hWL]

Used to let my credit card tick over but since leaving 'Tech, I've made a point of paying it off in full each month.
Only thing I owe money on now is a student loan.
I generally pay cash for purchases, taking out a fixed sum each week for expenses - my bank charges 40c for each EFTPOS transaction.

[ReneCM]

No debt here at all. Pay my tuition each semester as it comes up, and will be working while at school this semester for some extra spending cash.

[onelovemp]

about £12K student loan which is being repayed at £14 a month at the moment (salary linked) - interest a month... £20. D'oh!!

about £1600 overdrawn this month somehow - need to look at the statements.

need to stop drinking, its my main expenditure by far - probably knocking on £6-800 a month.

just about to purchase new car as well so will have another £2500 to repay. Need to sort my life out!!

[huntbytnkbel]

about £12K student loan which is being repayed at £14 a month at the moment (salary linked) - interest a month... £20. D'oh!!

about £1600 overdrawn this month somehow - need to look at the statements.

need to stop drinking, its my main expenditure by far - probably knocking on £6-800 a month.

just about to purchase new car as well so will have another £2500 to repay. Need to sort my life out!!

6 to 800 hundred quid on booze

[9rCR9hWL]

Sod the financial side - hate to think what affect it's having on your long term health!