Ok I have just chopped in a 30 grand home owners loan for a short term personal loan to clear the debt quicker. My loan repayments are now more than my mortgage. I'm left with just £400 a month spare cash. Have I left myself too short. What does everyone else allow themselves for spendies? I'm
used to not worrying about it too much…

Well that would keep me in beer, I guess you'll have to busk for food and heating and stuff.

is that spare cash as in after all bills , food etc has been paid for ? if so i wish i had that lol

That's spare cash after everything.

oh your doomed ;-( if you cant get by on 400 a month spare then somethings wrong lol

£100 a week … should be ok …… stay away from pubs

Christ £400 a month left? Lucky barsteward…I've nowhere near that after the bills are paid…

Couldnt you have just over paid your mortgage every month, or put the extra into a savings account until you'd saved enought to clear the mortgage. Seems an odd thing to do.

whats spare cash?

I had a home owners loan over 25 years which I swapped for personal loan cutting down the actual amount of interest paid vastly. I haven't got a credit card as I end up buying bikes I don't need. 100 quid a week is easily spent on nothing in particular. Guess I need to look at priorities. Good to know others manage ok.

400 holes would be luxury. I have around 200 to 300 depending on overtime. All of this months spend have gone into the car.

400 a month would be fine for me but it all depends on what you normally spend your fun credits on-swanky bars with ladies of the night or running round a muddy field shouldering a cross bike?

edit:having just done a budget for my loan application, 400 would be tremendous – email in profile if fancying sending me some (gifts of hbars etc also gratefully received)

£400 per month spare cash is about 200 more than I have ever had!

Where are you spending it all?

Wish I has £400 left after my bills and living expenses.
I could live like a king on that… 😆

Spendthrift!

even whilst living at home i didnät have 400 quid spare each month. well, ok. i might have done had i not spent lots of it on drugs, but were talking after the neccessities, aren't we?

right now i'm earning about 50€ a week! **** all work around and i can't get 'help' from the state as i haven't been here long enough and the UK won't help as i wasn't claiming before i left. somewhere between a rock and a hard place….

think yourself lucky.

i'm left with just £400 a month spare cash

loadsamoney!!
****t

I have about £1500 to buy food and other spends it's all gone at the end of the month and sometimes more. That's between me, the missus and a 9 year old though.

You have a mortgage and a loan – you have no spare cash at all. Pay all that off then you really might have spare cash.

you should be fine. I wish I was a fiver behind you!

Jeeeessssus……

I had some cash once…… I remember it well …… I blew it!!!

SB 🙂
Buddy, can you spare a dime?

I've just seen a cock flying past my window, perhaps its yours. Maybe you waved it so hard it fell off.

Whats a £30k home owners loan????

Is that your way of saying you are £30k in debt?? Or are you saying you have a mortgage on your house and a seperate £30k loan secured against the house for 'house' stuff?

If so you have a mortgage and a £30k debt then (Or please explain otherwise)

So in that case you dont have £400 per month. You have a £30k debt that needs serviced or you go bankrupt.

People need to wake up and smell the roses.

Unless of course you say the debt is something else which i look forward to hearing

So you've got £400 a month in yer sky rocket, crikey that'd be nice 🙄

Thank you for some sense Hobo! Just what i was thinking……

Hobo, he is servicing the debt and still has £400 left. Why would he be in danger of bankrupcy?

Why wouldn't he, we have no idea really do we, its all conjecture.

In order to clear a £30K mortgage faster surely the sensible thing to do would be to take a flexible mortgage or an off-set mortgage? Rather than a higher interest personal loan?

**** me only £400 spare cash a month that's almost as bad as only being able to afford to ride a Specialized….

djglover – Member
Why wouldn't he, we have no idea really do we, its all conjecture.

Conjecture maybe, but at least my comments were based on actually reading his posts.

£400 😯

i wish i had £4 left after paying everything you lucky beggar lol

A home owners loan is secured on your property. I'm now paying it back quicker with less interest. Repayments are more than my mortgage. I want to get rid of my debt. I earn about 37000 a year and have two kids. Certainly does not feel like I'm loadsamoney. Pretty average I would say. Smelling the roses is what I'm doing hence the loan switch.

it's like listening to one of the Royal family, telling us how frugal they are.

£400!? are you worried you can't afford a fortnight in Klosters this year?

poor lamb, you could stay in Val d'isere with the common folk, they're not bad people you know, once you get used to the smell…

(i'm on about £250 / month, if i can stay off the booze, and live on fish finger sandwiches)

Ha ha. I think I should bow out now.

I love fish finger sandwiches.

Hobo, he is servicing the debt and still has £400 left. Why would he be in danger of bankrupcy?

Because from the way he has avoided saying he is heavily in debt and has also stated that he has spending issues, along with actually having a mortgage and a £30k loan it seems to me that the guy has more outgoings than just the Mortgage and the loan. Just by moving debt about doesnt actually make you more sensible with your money.

I have a brother in law in a similar situation. I also call him a bankrupt, cos he will be in the next couple of years IF HE DOESNT DO MORE THAN JUST ALTER THE STRUCTURE OF HIS DEBT