Forum Replies Created
Thanks Michael,
No dependants, no other debts at all, might be able to get a stat dec for my living arrangements, but let's assume my circumstances change (or those I'm living with) and that I have to find a place to rent. I could, in the current market, find a room to rent for $150/week in my area – certainly much less than $290.
My current total credit limit is $22,500 – old card, and the new one to which I have transferred the bulk of my debt to. I will be requesting to have this at about $2000, as I won't really need it once it's paid off. I just wanted to make the most of every opportunity I had while travelling. I know the banks don't really consider it, but I'm very, very good at living within my means.
With my current savings, there's no reason why I couldn't have a $20,000 deposit 12 months from now if I reduce the credit card debt (and limits) and continue to save what I'm currently paying off those cards once the debt is eliminated.
Thanks again in advance for your help.
Thanks Jamie,
Most of the properties I've been looking at (only roughly based on what I think I might be able to borrow) are attracting between $300 and $350 per week – if I can afford something with a higher rental return or better yield, then by all means I'd do it.
I completely understand it could go either way, but let's assume interest rates are at the same level they are now. Plenty of reasons for them to go up, plenty to push them in the other direction…
