Right, this post will be some type of introduction of me on the chain and what I am to do. As my name suggests do I plan to use to as my dairy talking about how I will tackle my debts and start building some wealth, hopefully.
My current situation is I live with my partner, we bought a house over a year ago and we both have studied for a number of years. Sooo now we have racked up both mortage and student loans, but atleast we both have fairly well paid jobs in our respective field, so not a total waste of going to college.
Mortage
Our mortage is in the area of 200k, we had managed to save up a fairly large stack so we didnt have to finance the maximum we could. And now are we attacking it pretty aggressivly, so this will not be my main target right now.
Student loan
I was kinda good in this department as well, didnt take advantage of the full loan. Instead I worked quite a lot during my time in college so managed to just rack up a debt to 17K and the interest is around 1.5%. Earlier the interest rates was like 0.5%, but the government has started to push it up and thats why its a good time to pay it off asap.
I plann to try out different side hustles, maybe some affiliate marketing and content creation here and maybe on other platforms to see if I can clear this debt out.
If this sounds like something you wanna read more about in the future, please give me a follow. A upvote, can bring my a little closer to my goal as we.
Until next time!
Posted Using INLEO
Happy to have you onboard! Let see how tackling this debt will go for you and if you have any questions about this Hive thing just tag and ask me!
intresting post
Can i ask what your LTV rate is (loan to value) is on the mortgage atm
As paying off a little bit more to round off can in the long term save thousands in repayments off a mortgage
Yes of course you can ask, when we bought we had almost 33% in downpayment and we are currently paying 3% of the loan per year. We choose to look in the interest rate when we bought it, maybe not the smartest because the rate has gone down a little. But on the other hand we like to know the cost each month
Congratulations @debtcrusher! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 50 upvotes.
Your next target is to reach 50 comments.
Your next target is to reach 50 replies.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts:
Are you going to use Hive to pay off your debt, because that could be awesome :D
I hope that I might be able to utilize Hive for that. Dont know if its possible, but why not try?
It will properly take a long as time to make a dent in your debt with Hive, but it can snowball at some point and any small dent is better than nothing ^^ :D
I would say, go for it :D