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Debt... I haven’t posted a lot about it but it’s something I’m really passionate about.
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At the beginning of last year we owed somewhere just over 240k between two houses, a block of land, two vehicles, a credit card and interest free purchases. If you live in Sydney this seems like an epic deal but we don’t. We live in a rural area where houses are priced from 40-540k. Both houses were fixer uppers, having paid 68k for the first, 85k for our second property and 15k for our block of land. One of our vehicles we bought brand new with a personal loan with an interest rate of 14.40% 🙃 Our other vehicle is financed through St George auto finance at 8%.
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When you say you’re selling your investment property people think you’ve grown a second head (we rented our first property out after buying our second) the reality was there was never going to any growth in such a fickle market. It was costing us more than it was making us and adding more pressure taking up time we didn’t have (we’d become self employed and time and money were short).
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We sold the house at a loss, by this stage we had already paid out and cancelled the credit card (it only had a $500 limit but had a yearly fee and wasn’t always paid off in full), paid out the interest free purchase (it was under a $1000, we only ever bought one thing at a time) and had begun to get serious about the personal loan. We managed to pay it off in October last year, 17k+interest
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We ended the year with a debt balance of around $140k. We had a bit of a break and started up a few months ago paying extra to our car finance. We’re currently sitting around $130k of total debt (excluding hecs which is around 5k)
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We earn somewhere between 60-80k a year combined. So making around 1k a week give or take a couple of $100. If we keep doing what we’re doing we’ll be debt free in 7yrs
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And honestly, you know what does It? It’s not big wages or lucky breaks (even though they can fast track it) its your mindset. Once you decide your doing this, really doing it, you’ll be surprised at where it takes you. And if what your doing isn’t working, change it, continually tweak it until it does

Debt... I haven’t posted a lot about it but it’s something I’m really passionate about. ✖️ At the beginning of last year we owed somewhere just over 240k between two houses, a block of land, two vehicles, a credit card and interest free purchases. If you live in Sydney this seems like an epic deal but we don’t. We live in a rural area where houses are priced from 40-540k. Both houses were fixer uppers, having paid 68k for the first, 85k for our second property and 15k for our block of land. One of our vehicles we bought brand new with a personal loan with an interest rate of 14.40% 🙃 Our other vehicle is financed through St George auto finance at 8%. ✖️ When you say you’re selling your investment property people think you’ve grown a second head (we rented our first property out after buying our second) the reality was there was never going to any growth in such a fickle market. It was costing us more than it was making us and adding more pressure taking up time we didn’t have (we’d become self employed and time and money were short). ✖️ We sold the house at a loss, by this stage we had already paid out and cancelled the credit card (it only had a $500 limit but had a yearly fee and wasn’t always paid off in full), paid out the interest free purchase (it was under a $1000, we only ever bought one thing at a time) and had begun to get serious about the personal loan. We managed to pay it off in October last year, 17k+interest ✖️ We ended the year with a debt balance of around $140k. We had a bit of a break and started up a few months ago paying extra to our car finance. We’re currently sitting around $130k of total debt (excluding hecs which is around 5k) ✖️ We earn somewhere between 60-80k a year combined. So making around 1k a week give or take a couple of $100. If we keep doing what we’re doing we’ll be debt free in 7yrs ✖️ And honestly, you know what does It? It’s not big wages or lucky breaks (even though they can fast track it) its your mindset. Once you decide your doing this, really doing it, you’ll be surprised at where it takes you. And if what your doing isn’t working, change it, continually tweak it until it does

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