not doing well
Quite like the odd confessional. A few years ago I bought a house and sold it for 20K profit in the space of 3 months however thinking that worked well I bought another one with my ex. 2 years later we had a property worth £250,000 but I was struggling to keep up the repayments, Then I found this great thing because of chip and pin I could go to the atm and get cash from my credit card. Then pay this cash into my account so that I could make the payments on the mortgage. Do this a few times an you realise that suddenly you've got £30k in debt on top of the mortgage. Decide to clear this my taking out a secured loan on the property then go to work abroard for a few months. Ex insists I fly back to UK every weekend which isn't cheap but I was due to earn a lot of money. Got screwed over by the company I went to work for and they won't pay me the £10k they owe me for two more years. and have built up a further £20k in debt from living expenses. Split with ex and try to sell the house she wants me to find a further £13k to pay off part of the mortgage so that she can have the house to herself. Try to sell the house and its not made a massive profit so currently my financial position is minus £25,000, I have a property that I won't see any profit from and an ex asking for £13,000. The best of it is I am a qualified financial adviser. Best advice I can give you is don't build up credit card debts, don't take things on finance, don't buy houses with money grabbing psychopaths, save 10% of your gross salary every month for long term stuff, and save for short term luxury buys, that way you don't buy on impulse. I'll be debt free in 5 years if I stick to my plan, but god I wish I'd just pocketed my £20K the first time round. Anyway I'm off to phone the parents for some more money.
(b3tan senseless is slowly getting older, Fri 24 Nov 2006, 8:44, Reply)