I bought a house

With a few pay rises and a few thousand dollars in the bank I’ve been able to buy myself a modest little house. I’ve still got some credit card debt to pay off, but unless a disaster happens I have the income to cover the bills and live modestly, until the credit cards are paid off, and then I can be as imodest as I like.

At the moment I am balancing my desire to get rid of all my personal debt with doing some much needed renovations on the house.

I’ve restructured my debt into three parts.

I have a credit card with a balance transfer offer at 3% until may next year, the balance is $8000.

I have a personal loan with the balance of $7000, Interest rate is 11.24%.

I have borrowed $11,000 from a friend, who borrowed it from a bank,  I’m paying back $250 a month, interest rate is 12.54%

My current goal is to pay off the $7000 as soon as possible to remove the compulsory repayments I have and reduce my fortnightly repayment burden.

I’ll post more about my plans when I get the chance, but it’s all looking good.