Bailed out of Debt By Parents

money, personal

I Love My Dad. 

It’s fathers day on Sunday and boy do I owe my Dad a huge amount of thanks. 

My parents being adults who own a house and business are able to borrow money from the bank at a reasonable 3% rate of interest. Unlike me who can only get a loan at 18% for my loyal 15 years. 

My Dad saw an opportunity and is loaning me the money to pay off my credit cards at 5%. It will take me 87 months to pay off at £200 a month. I sincerely hope that I will pay this off a lot sooner. I hope by the time I’m 40 I’ll have 1 million pounds. I’d be happy with just a couple of thousand.

Lesson: be very, very grateful of your circumstances. I am such a lucky person. 

I’m fan of Jack Monroe, I love her bravery and skills. She also makes me aware of how lucky I am. Read her blog here and her ‘live below the line’ recipes. Her recipes are yummy and will help me get out of debt. 

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