Im paying my Dad back $10k interest free at $100 a fortnight....which means it'll take about 4 or 5 yrs to pay back but he's in no hurry for the money, just important to him I make a regular payment...got into the mess by buying a brand new car and laptop on finance, could hardly afford repayments and had to sell both for a huge loss and dad paid out the finance so I wouldn't be stuck in debt forever.
Apart from that, no credit cards, no loans, DP has no credit cards/loans either.
Together we make about $1000 a week after tax, rent is 300 a week, groceries about 100, fuel 50, bills like phone, utilities etc we put aside 50, 100 for 'baby savings' and 100 for my dad. So that works out to leaving us 300 a week disposable income.
Were looking at buying a house in a yr or two but we've only been together since 2 weeks before I got pg so just seeing how things pan out...
well right now all we really have is a $4000 credit card and bills and my car which im paying my parents for coz the house is DH's so all in all no more than about $8000 at the most but both of us being on newstart doesnt help much i try to pay a little of everything each pay so the bills at least have something paid on them i actually feel lucky not to have a lot more debt
We cut up all our credit cards approx 5 years ago and now only pay cash for the things we need or want. We do though have 3 mortgages which we are paying off fortnightly, but the amount we owe doesn't worry me too much because if we ran in to financial problems we could sell the investment properties and be debt free. When you look at it on paper though, it does look like we owe a huge amount of money to the bank.
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