No More Debts - Feeling Liberated !!!!
Discussion
Just putting various relations date of birth and statistics into http://www.deathclock.com/ ...
boxst said:
Just putting various relations date of birth and statistics into http://www.deathclock.com/ ...
Thanks 
Gives me just 21 years Better start spending! Thing is there is nothing wrong with having debt infact it can be advantageous - as long as its affordable.
I have leveraged up a lot previously hugely leveraged up and as it turns out have done well - however it was fully affordable all it means is that I am now more rungs up the ladder than I thought possible for my age now.
Times have changed and currently I'm pushing hard for the net neutral position - I'd put this down to having children I want as little risk with them unlike when we were a younger couple. We are attempting to ensure that our kids will have their own houses mortgage free by the age of 25 - that means we can really enjoy our savings safe in the knowledge we have given them more than a great start (may put a charge on those properties incase they meet someone who takes them to the cleaners or that they try to blow it al).
I have leveraged up a lot previously hugely leveraged up and as it turns out have done well - however it was fully affordable all it means is that I am now more rungs up the ladder than I thought possible for my age now.
Times have changed and currently I'm pushing hard for the net neutral position - I'd put this down to having children I want as little risk with them unlike when we were a younger couple. We are attempting to ensure that our kids will have their own houses mortgage free by the age of 25 - that means we can really enjoy our savings safe in the knowledge we have given them more than a great start (may put a charge on those properties incase they meet someone who takes them to the cleaners or that they try to blow it al).
boxst said:
Can you explain what kind of charge?
Its no different to what mortgage companies do so when a sale comes as you have first charge the proceeds pay off your % or £ debt first I believe some people who get divorced do this in scenarios they don't want to sell or cannot sell at that point in time so charge on property is just as good (unless price goes down of course)?
chibbard said:
The sale of my mother in laws house (god rest her soul) went through and we are just paying off the outstanding balance of our mortgage/motorbike loan today. I just feel so good about it. Just wanted to share, that's all. Anyone else fortunate enough to experience this?
Not in the same way, but last year we paid off the mortgage. I feel good about it, in the same way that when the dentist stops drilling, it feels good.
Welshbeef said:
Thing is there is nothing wrong with having debt infact it can be advantageous - as long as its affordable.
I have leveraged up a lot previously hugely leveraged up and as it turns out have done well - however it was fully affordable all it means is that I am now more rungs up the ladder than I thought possible for my age now.
Times have changed and currently I'm pushing hard for the net neutral position - I'd put this down to having children I want as little risk with them unlike when we were a younger couple. We are attempting to ensure that our kids will have their own houses mortgage free by the age of 25 - that means we can really enjoy our savings safe in the knowledge we have given them more than a great start (may put a charge on those properties incase they meet someone who takes them to the cleaners or that they try to blow it al).
You certainly aim to confuse, I thinks to myself you maybe lead a false life on Pistonheads, each to their own I suppose. I have leveraged up a lot previously hugely leveraged up and as it turns out have done well - however it was fully affordable all it means is that I am now more rungs up the ladder than I thought possible for my age now.
Times have changed and currently I'm pushing hard for the net neutral position - I'd put this down to having children I want as little risk with them unlike when we were a younger couple. We are attempting to ensure that our kids will have their own houses mortgage free by the age of 25 - that means we can really enjoy our savings safe in the knowledge we have given them more than a great start (may put a charge on those properties incase they meet someone who takes them to the cleaners or that they try to blow it al).
Pit Pony said:
Not in the same way, but last year we paid off the mortgage.
I feel good about it, in the same way that when the dentist stops drilling, it feels good.
Never had one but at 48 I am about to get a very small one to buy my late grandfathers house. I need the small mortgage to allow for the renovations (Loft conversion, new bathroom, kitchen and expand the garage) and the thought of it is worrying the crap out of me I feel good about it, in the same way that when the dentist stops drilling, it feels good.
Grumfutock said:
Pit Pony said:
Not in the same way, but last year we paid off the mortgage.
I feel good about it, in the same way that when the dentist stops drilling, it feels good.
Never had one but at 48 I am about to get a very small one to buy my late grandfathers house. I need the small mortgage to allow for the renovations (Loft conversion, new bathroom, kitchen and expand the garage) and the thought of it is worrying the crap out of me I feel good about it, in the same way that when the dentist stops drilling, it feels good.
t HITs the fan. I know you can buy insurance to cover loss of income, but it comes with terms and conditions, and small print.
I did neither, and so when I lost my job, there was a month of serious worry, whilst I got myself back into work.
Pit Pony said:
So you've been paying RENT ? Look at it like rent, borrow a bit more than you need, and stick it in an interest bearing account, such that you can pay your monthly payments for a while if the st HITs the fan.
I know you can buy insurance to cover loss of income, but it comes with terms and conditions, and small print.
I did neither, and so when I lost my job, there was a month of serious worry, whilst I got myself back into work.
Well for over 20 years I was paying rent to the Army so not to bad. I have the money in the bank to buy the bungalow out right but need the rest for the work.t HITs the fan. I know you can buy insurance to cover loss of income, but it comes with terms and conditions, and small print.
I did neither, and so when I lost my job, there was a month of serious worry, whilst I got myself back into work.
Bit of a thread bump...
I'm finding myself lacking much needed sleep due to debt worries. Nothing major but I'm counting down the days until I'm in the black.
Borrowed 5k as a loan from the bank 21 months ago, 8.9% Apr, so a great rate and only have 3 months left to pay it off, trouble is I have 2 credit cards and an overdraft as well.
My outgoings currently, just on paying off credit, is a third of my wages!
Come November I will have paid off the loan and one of my credit cards, the other card is interest free for 21months from a balance transfer from the card that will be paid off. Overdraft also cleared.
Trouble is I manage my debt and haven't ever missed a payment in my life so the banks keep offering me credit!
Dumb ass me keeps (or used to) taking their generous offerings. Not anymore though.
I'm finding myself lacking much needed sleep due to debt worries. Nothing major but I'm counting down the days until I'm in the black.
Borrowed 5k as a loan from the bank 21 months ago, 8.9% Apr, so a great rate and only have 3 months left to pay it off, trouble is I have 2 credit cards and an overdraft as well.
My outgoings currently, just on paying off credit, is a third of my wages!
Come November I will have paid off the loan and one of my credit cards, the other card is interest free for 21months from a balance transfer from the card that will be paid off. Overdraft also cleared.
Trouble is I manage my debt and haven't ever missed a payment in my life so the banks keep offering me credit!
Dumb ass me keeps (or used to) taking their generous offerings. Not anymore though.
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