The Museum Of Modern Thinking

As previously mentioned, I’m posting my progress on paying down my debts and building up my savings. Thanks to saving 10% of my income a month, i.e. paying myself first, I have some savings - duh.

Total Savings: 19.85% of monthly income (will increase)

Total Debt: 10.32 x monthly income (will decrease)

I know it looks like the my total debt has shot up from last time (it was 5.67), but I did not include my car loan in the previous figure, which I really should.

With Mervyn King (governor of the Bank Of England) predicting the standard of living will fall, it makes sense to tighten the belts and get some savings behind me - as should we all.