How does it feel to be debt free?

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

Well, not much different to an hour ago when I was in debt really Laughing

but yes, so far my list of acheivements of 2007 has somewhat amazingly been to have paid off (almost) all my debt... (and yes we're talkin thousands Razz

damn bikes/cars/spensive things) and even more amazingly I've already acheived it Laughing

now just to lose a stone or two and get fit, hmmmmmmmmmmmmmmmmmm

So, the coffees (Nescafe Blend 37, only the best!) are on me....

Oh and I also acheived another thing on my list which was to get a pay rise this year, which I did, an extra 7k + overtime per year Cool

I'm not bragging or anything, I don't get paid much compared to most anyways and my debt probably is nothing compared to others, but it is nice to have no more money worries (for now - thinking of a house soon Evil or Very Mad

) and although I don't really feel much happier yet, I'm sure I will when I notice the ££'s going into the bank!
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Davo · Davo To The Rescue! Joined: 05 Apr 2004 Karma :

Congratulations, it's such a nice weight off your shoulders when you make that final payment and know that you don't owe anyone a thing.

Mine's white with 2 sugars Smile

Unfortunately the get/keep fit thing is getting harder Sad

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

JonB · Afraid of Mileage Joined: 03 Jun 2004 Karma :

£10k in debt and growing. Crying or Very sad

Though i'm not in my overdraft which is nice. Smile

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Eddie Hitler · World Chat Champion Joined: 06 Nov 2007 Karma :

Itchy · Super Spammer Joined: 07 Apr 2005 Karma :

University student,,
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JonB · Afraid of Mileage Joined: 03 Jun 2004 Karma :

Yup Student.

Have worked out i'll be £21,000 in debt by the time I get a degree.
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craigie b · Citizen Smith Joined: 26 Jul 2004 Karma :

Call me a cynic. However....Since The Third Reich introduced the student loans program and removed all grants (unlike when I went, I got a grant and a loan, but the system was generous enough that I don't pay it back until I'm earning 26K a year) I think the loans system has became a way of further enslaving the next generation of people so they obediently follow the government like nice little sheep.

Taking Jon B's 21K as an average, that means once you leave Uni you pretty much have to take whatever shitty job comes your way and because you financially dependant on that job to pay off your education debts you have to become a good hard working drone. And chances are your starting salary will be in the 12K region.

No that long ago 21K could have nearly bought you a house in some parts of the country.

Wel done on clearing your debt though mate Thumbs Up

Itchy · Super Spammer Joined: 07 Apr 2005 Karma :

JonB · Afraid of Mileage Joined: 03 Jun 2004 Karma :

I think the threshold for paying back loans is something £15-18k.

If I didn't have a career planned for after uni I would probably be fretting far much more than I am really.

Should I get into teaching I will start at £21k a year, which isn't too bad, though the work will be hard.

The loan will always be there, but it will look like another tax coming out in my wages. I'm sure it will probably hinder me in getting a mortgage, but i'd rather have 21k of student debt, than 21k of credit card debt.
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Be careful whose advice you buy, but, be patient with those who supply it. Advice is a form of nostalgia, dispensing it is a way of fishing the past from the disposal, wiping it off, painting over the ugly parts and recycling it for more than it?s worth.

D O G · World Chat Champion Joined: 18 Dec 2006 Karma :

Congrats mate, that is where I want to be.

Reckon I could be there in 2-3years after we get to Oz. It is my number 1 priority.

Kudos for sticking at it and having the self discipline to see it through. Millions of others don't. Thumbs Up

ncrn · World Chat Champion Joined: 24 May 2006 Karma :

I've just started uni so I've started getting into debt.. ask me in a few years and I may be out again.
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_Will_ · World Chat Champion Joined: 16 Jan 2006 Karma :

£7500 and mounting Crying or Very sad

Will be £18,500 after uni...damn

£500 in overdraft £400 on credit card.

Student life is wonderful Neutral

Will probably get a mediocre job for a few years after and stay at home, that way i can pay the lot off in 2 years.

Does make me think though, what if i'd just started working 4 years ago? Probably be loaded in comparison Sad

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chris-red · Have you considered a TDM? Joined: 21 Sep 2005 Karma :

I'm in a fair bit of debt, not bothered about the student loans, about 6/7k. I have nearly 2k in overdrafts and 700 on credit cards and £550 on fiance. I can't wait till I get rid of the overdrafts and CC's
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dandit · Nearly there... Joined: 04 May 2004 Karma :

im roughly £26,000 in debt Sad

not including t-mobile and vodafone and 3 lol Very Happy

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Lady P · Scooby Slapper Joined: 09 Jan 2008 Karma :

Pleased that you are debt free it must be nice

I do have some debt at the mom but not really that much I will get it sorted soon I hope

syl · World Chat Champion Joined: 05 Dec 2005 Karma :

Don't think I've been debt free since 1988! Maybe in another 10-15 years....
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Louise · World Chat Champion Joined: 22 May 2006 Karma :

Lady P · Scooby Slapper Joined: 09 Jan 2008 Karma :

Reppyboyo · Nearly there... Joined: 15 Sep 2006 Karma :

Im allmost debt free.

2 payments left on loan and £200 on CC which will be gone next week.

Although My debt was nothing really, £1400 loan and £1400 on CC at its peak.

Silver · World Chat Champion Joined: 03 Oct 2004 Karma :

Debt free here, pretty much (if you discount the mortgage), although I am getting married soon... Shocked

I decided against the whole Uni thing. Unless you need the qualification for a profession (teacher, doctor etc) then in a lot of cases I fail to see the point. A few years ago I was installing systems and a guy the same age started, straight from Uni. He was something like £15k in debt, but was doing the same job, on the same money, with three years less experience (and three year's less pay).

We've got quite a few people at work with degrees who are doing basic admin jobs. What was the point?

JBurrows88 · World Chat Champion Joined: 15 May 2006 Karma :

i'm expected to leave uni in 20k debt (maybe going upto 30k if i do a masters degree) Thumbs Up

i hope tho that i will have better long term prospects! Confused

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Visitor Q · $25 whore Joined: 30 Apr 2004 Karma :

Good one

And ive said it before and i'll say it again. Uni is about the experience, not the money.

Plus (in theory) graduates earn ~10k a year more.

Plus opens more interesting career avenues.

When i leave i'll have 3300x3 + 1200x3 + 1000 overdraft.

All subject to interest, so that 16k will mount up. But you know what. I dont care. I've found a field i love, i've grown as a person, and i've got plenty of years left to be shackled to a salary.

Had i resat any years i'd be less enthralled i guess, but then, some people arent meant to be in HE and thats final. Got an ex on her 3rd try of first year Shocked

Thats an extra shit load of debt, believe me.

Its alright if you are doing uni somewhere you can get a shitty P/T job to keep debts down, but in Bangor its pretty hard without signing your hours away at their whim for fuck all pay. Plus 85% of the time you have loads of free time, but that 15% Neutral

Would really hate to be one of these people forced to work through exams to keep their job. Especially if its just money for beer and bacci.
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Silver · World Chat Champion Joined: 03 Oct 2004 Karma :

Visitor Q · $25 whore Joined: 30 Apr 2004 Karma :

Well obviously those who took mickey mouse degrees are exempt;
Psych-ology
Soci-
Crimin-
Theol-
Media studies
Probs a hell of a lot more.

Plus scraping through with a 3rd or even most cases a 2:2 is a soft fail. Need a 2:1 for most things.

But you telling me someone with a law/business/economics/maths/science degree isn't worth more to a company then some one without?
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China traffic/travel bike vid - When I make a sweeping statement, please add the word 'statistically' in to the sentence before you bitch...
From September 2014 to January/February 2015 I will not be using any English, nor reading any. As such, I won't be on here. PM at will, but I won't be checking/posting unless in emergencies. Certainly not for the first couple of months. Please berate me savagely if I break that rule...