- Joined
- Aug 5, 2020
- Messages
- 40
- Points
- 148
- Age
- 40
I can't lie, my financials don't look great at the moment.
At 30 I had zero debt and a house that I owned, now nearly a decade later I find myself 23k in debt and back renting. The one positive constant throughout has been a safe and well-paid job, for which I am eternally grateful.
My credit rating is shot, so consolidating is out of the question for the time being.
I have mapped out the next 3 years of repayments on a spreadsheet, so I know that repaying everything as I am now will mean that I am free of loan debt in March 2023.
Also, I know that I should hit the following targets:
Under 20k - November 2020
Under 15k - May 2021
Under 10k - March 2022
Under 7.5k - September 2022
Under 5k (Essentially my credit card debt) - May 2023
The downside of all this forward planning is that I also know how much I'm spending each month paying off these debts:
£1100 p/m until November '20
£900 p/m until March '21
£675 p/m until Jan '22
Then around £520 p/m thereafter
£1100 p/m over an average of 30 days is £36.67 a day. Crazy, right?
This doesn't include child maintenance, rent, bills and saving for a wedding. Crazy, right?
After taking all of this out, I'm not left with a great deal to live on each month, and I really want to put in some extra work to make life a bit more enjoyable. So, in my mind, if I can cover what I spend each month repaying debt with some extra work then a sense of balance will return to my life.
I use Prolific and Intellizoom at the moment, but that barely scrapes £5 per day.
I have applied for Lionbridge, so fingers crossed there.
I've always been good with graphic design, so my next step is to look at print to order T-Shirts.
At 30 I had zero debt and a house that I owned, now nearly a decade later I find myself 23k in debt and back renting. The one positive constant throughout has been a safe and well-paid job, for which I am eternally grateful.
My credit rating is shot, so consolidating is out of the question for the time being.
I have mapped out the next 3 years of repayments on a spreadsheet, so I know that repaying everything as I am now will mean that I am free of loan debt in March 2023.
Also, I know that I should hit the following targets:
Under 20k - November 2020
Under 15k - May 2021
Under 10k - March 2022
Under 7.5k - September 2022
Under 5k (Essentially my credit card debt) - May 2023
The downside of all this forward planning is that I also know how much I'm spending each month paying off these debts:
£1100 p/m until November '20
£900 p/m until March '21
£675 p/m until Jan '22
Then around £520 p/m thereafter
£1100 p/m over an average of 30 days is £36.67 a day. Crazy, right?
This doesn't include child maintenance, rent, bills and saving for a wedding. Crazy, right?
After taking all of this out, I'm not left with a great deal to live on each month, and I really want to put in some extra work to make life a bit more enjoyable. So, in my mind, if I can cover what I spend each month repaying debt with some extra work then a sense of balance will return to my life.
I use Prolific and Intellizoom at the moment, but that barely scrapes £5 per day.
I have applied for Lionbridge, so fingers crossed there.
I've always been good with graphic design, so my next step is to look at print to order T-Shirts.