Debt Advise

[Anonymous No.14687584]

I'm around 11.5k in debt, not for crypto reasons just from making stupid decisions.

I would like to clear this debt as soon as possible, one of my largest debts will end in Dec 2022. I can't keep paying this until then for my mental well being so would like to clear all 11.5k asap.

Any advice would be appreciated.

>I'm aware of snowballing by APR% but this isn't fast enough for me.

[Anonymous No.14687617]

>>14687584
How the hell do you get in debt?

[Anonymous No.14687621]

>>14687584
tell us what happened anon
we need to know which profile we are dealing with

[Anonymous No.14687670]

>>14687617
You apply to a bank for a loan and they give you one.

>>14687621
Lol, I clearly 3k off a motorbike purchase & blew the rest on stocks around 3 years ago now I'm eating out of my fucking hands wanting to punch myself in the face.

[Anonymous No.14687688]

>>14687621
cleared*

[Anonymous No.14687757]

>>14687688
11.5k until 2022?
That's three years away, do you have any job?
Where are you from?

[Anonymous No.14687856]

>>14687757
I have a job.
I make around 1300-1500 a month depending on overtime.
Repaying loans, rent, car upkeep and other bits and pieces pretty much ass fucks me every month.
I'm from the UK.

[Anonymous No.14687896]

>>14687856
martin lewis moneysavingexpert faggot. Analyse every part of it and do things like switch banks fore free cash

[Anonymous No.14687905]

>>14687856
Lol just put on a hijab and nick shit from a store. It's britain. Brown up and rape a child then sue the family for damages lmao.

[Anonymous No.14688021]

>>14687896
I'll go through it.

[Anonymous No.14688040]

>>14687856
the easy way out to either neck yourself or pay the thingies is to take a part time job?
what's your field?

[Anonymous No.14688061]

>>14687856
If you're in London or the South East then get out ASAP

[Anonymous No.14688081]

>>14687584
Safe route is buy at least 1 btc. Risky is buy LIT, LINK, and QNT.

[Anonymous No.14688091]

>>14688040
piling but it doesn't pay well

>>14688061
midlands

[Anonymous No.14688107]

>>14687856
Get another one

[Anonymous No.14688143]

>>14688081
If he had enough to buy 1 btc he should pay off his debt lol

[Anonymous No.14688166]

>>14687584
Do you have a degree? Be a personal tutor for £25 an hour outside of work. All you have to do is read out notes from BBC Bitesize

Move back in with your parents if that's an option and save yourself hundreds each month in rent.

Sell your car and motorbike if you still have them, make use of public transport

[Anonymous No.14688194]

>>14687584

If you don't plan to switch jobs, the only way to get rid of the debt faster is to embrace a frugal lifestyle, i.e.: no vacations, no takeout, fast food or starbucks. Ditch subsriptions, pirate if you must and find the cheapest plans for insurances and all other monthly costs. Since debt is cheap though, I would use some of the money to start investing. The returns will likely beat the interest.

[Anonymous No.14688206]

>>14687584
DEBT IS A MEME, just wait a few years and that 11.5k will turn into 2k, and that 2k will eventually disappear like your gay dads

[Anonymous No.14688223]

>>14688081
>>14688143
I have some BTC but it's a minuscule amount.

>>14688107
If I applied to anywhere else for weekend work it would be minimum wage or just above because of the agency market

[Anonymous No.14688232]

>>14687584
https://bitcointalk.org/index.php?topic=2827989.msg51629410#msg51629410
https://youtu.be/s3SJ2TMIXZI
https://youtu.be/OIamCXZ6CZI

[Anonymous No.14688419]

>>14688166
I don't, I've worked since I left college & I didn't even complete that I was too busy getting wasted. No bus bus route to my workplace, I live rural at my parent's house and that costs me £150 a week (cheaper than moving out).

>>14688194
I asked for a payrise today so let's see how that goes. I live frugal already, my parents think there is something up with me because I do nothing lol.

[Anonymous No.14688475]

>>14688419
How far is work? Invest in a bicycle.

I think your standards are far too high if you can't find a one bedroom place in the midlands for less than £150 a week. Which town specifically?

[Anonymous No.14688521]

>>14688475
also, if you find a place closer to work you can ditch your car and save more in upkeep even if the rent is higher than living at home.

[Anonymous No.14688615]

>>14687856
>making 1300 per month in UK

[Anonymous No.14688674]

>>14688475
7-8 miles & it's all dual carriageways apart from the last mile. We have a big dog that needs space, it's technically mine so I'd be expected to take her with me plus it wouldn't be much cheaper after water/electric/council tax/food than my parents as I don't have to pay for any of that. A 1-bed apartment is around 450-500 a month no bills included.

[Anonymous No.14688725]

Real talk - start budgeting and cutting where you can. I like YNAB myself but do what feels best. Then, work on increasing your income with a new job or something else. That's the only way.

You can try and gamble with crypto or stocks, but this is the only surefire way

[Anonymous No.14688732]

>>14688615
you're welcome to come to the east midlands and try and earn more wagecucking without a degree. I dare you in fact.

[Anonymous No.14688765]

>>14688615
That's the starting doctor wage here.

[Anonymous No.14688787]

>>14688732
No, thanks. I live in fucking eastern europe and make more than double

>>14688765
What?

[Anonymous No.14688872]

>>14688674
8 miles on a bike should take you around 30 minutes and cyclists have full access rights to dual carriageways.

On a completely unrelated note, if you apply to, and enrol in a university you can receive up to £9,000 in maintenance loans a year. Enrol in university, never attend classes and keep working, drop out after a year, use you maintenance loan to pay off the majority of your debt. The maintenance loan will be repaid as a percentage of your salary going forward (more akin to a "student tax" than a loan) rather than through aggressive repayment strategies of conventional loans

[Anonymous No.14688905]

>>14688787
26k pretax is the junior doctor salary here. UK wages aren't particularly good and we have brutal tax.

[Anonymous No.14689009]

>>14688905
Not even memeing now, but how do you guys survive with such wages and UK prices? I mean, here people make less or around as much, but at least we have low prices.

[Anonymous No.14689037]

>>14689009
We smile for the cameras.

[Anonymous No.14689071]

>>14688905
I'm just short of 20k pretax but I'm self employed so get around 2-3k rebate every April but missed out on this year because my previous employer didn't pay enough tax.
>Ended up with a £56 bill after my expenses went through

>>14688872
Thanks for the advice bro I'm going to keep paying it off as I am so far and see what options I have.

[Anonymous No.14689138]

>>14689009
If you live in London 80% of your salary goes to paying the rent on a tiny flat converted into a 10 bedroom hostel with a bunch of Bulgarian contruction workers and Bangladeshis paying exorbitant rent to your Emirati landlord who has never been within a thousand miles of the UK.

If you live in the North then life is much more affordable and you can buy a house in your mid twenties if you're financially literate.

[Anonymous No.14689197]

>>14689138
>buy a house in your mid twenties
>with low-five-figure wage
You mean barely afford to take a 30-year mortgage? Yeah, good job

[Anonymous No.14689226]

>>14687584
Cut your credit card in half, never use it again. Cash out of your retirement and pay off your debt. Start putting aside money each month once you are debt free to save up a little. Eventually open up a Roth IRA with your savings and refill your retirement account. Invest your Roth IRA in an S&P 500 index and let it grow 10% a year as you keep depositing profits.

Life solved.

Play with crypto from a solid financial foundation.

[Anonymous No.14690035]

Your income is too low, get a 2nd job to pay off debt faster.
Will suck now but you need to clean this mess up through hard work, it will build character.

[Anonymous No.14690112]

>>14687856
>mfw the GI bill pays me more in housing allowance than you make in a month

Maybe it's time to find a better job.

[Anonymous No.14690286]

>>14687584
Bankruptcy man. Don't pay a single cent. Your credit is fucked either way, worry about saving cash for yourself instead of the bank.