PPRuNe Forums - View Single Post - Money - the great sinking feeling
View Single Post
Old 21st October 2004 | 12:29
  #35 (permalink)  
scroggs
Moderator
100 Countries Visited
25 Anniversary
 
Joined: Dec 1997
: ATPL
Posts: 4,929
Likes: 6
From: Suffolk UK
Iceman1976, you already owe 25k (I assume some of this is student debt?) on an income of 17k - and you want to borrow up to 16k more!? Jeez, you already have debts twice the size of mine and I'm on over 4 times your salary - and I worry! And your rent would get you a good sized mortgage.

If by borrowing you are helping to increase your potential wages in the future, you can consider it as an investment and therefore justifiable, as long as the repayments are affordable on what you can expect to earn in the near future. Saddling yourselves with unnecessary debt for things which will earn you nothing - like a too-expensive, image-enhancing car instead of a 500-quid banger - will just detract from your ability to finance your future, and must be regarded as pretty dumb.

Scroggs
scroggs is offline