wrx-kris

Just a quicky really. Nearly all my friends owe £10k+ in debts but we don't owe anything, am I missing something .
It's not cos I've got everything or I am rolling in it (quite the opposite) I just seem to never be able to get credit. This is a good thing though, right?

The missus thinks it's great cos any money we have is ours, no bills etc...
Just rent (no wise cracks ) and council tax, insurance etc. Me on the other hand wonder if there's something I'm missing?
I'm 24 and she's 23.

Is this normal? Or am I not far off the age where they start to pile up?

davegtt

Your in the right boat, dont worry. If you owe anything then its too much.

p.s. I owe too much

NotoriousREV

Are you including mortgages? If you are, then it's something around 1/4 of a million

If I were you, I'd stay debt free as much as possible. What do you do with your "disposable" income? Save? Spend?

Clarebabes

I owe alot less than my husband thinks

wrx-kris

No.

Clarebabes

I think the poll would be a bit skewed if it did!

NotoriousREV

In that case, it's about £15k in car loans and that's it.

dpb

Im a month late on my yacht moorings


apart from that im pretty solvent - no responsibilties mind

Matteeboy

Why not include mortgages?
It's a debt after all.

Zilch here.

ChefDude

Does that mean you are stashing money and preparing to leave him?

dpb

Was wondering that myself

MattW

I owe quite a bit out, when I was younger it was easier just car loans for a few grand. My current loan commitments total £1144 a month, and I have to pay bills and stuff on top of that.

StickyMicky

personal stuff = nothing, in the black, living the dream
business stuff = approx 5k (used a 10k loan as start up 2.5/3 years back)

Clarebabes

Nah, he has no debt, so any debt is bad.

StickyMicky

actually this is quite good...

after this year the G/F will owe approx 23k in student debts

what is the point!!??!!

TopBanana

Because the value of the house nearly always exceeds it.

T4molie

The only money I owe is a loan I took out for the scoob and that's coming down faster than originally predicted

EddScott

I've got 5K on credit cards. We've struggled on one income for the last couple of years and its just mounted up.

My wifes business is beginning to grow so we won't be quite so stuck for dosh. I'm starting to earn a bit of commission from work so with a bit of luck the cards will be halved by christmas and gone completely as early as possible into next year.

This will coincide with special rate ending on our mortgage so the money used to pay off the cards will go towards any increase in mortgage payments.

wrx-kris

Because vermin come out of the woodwork with "My house costs more than yours"

lozgti

For the first time in a long time,no debts.

It's a nice feeling knowing I own all of my car too.Even if it is only a little one No misquoting either thank you

KiwiGTI

at the results, but really expected 90% with no debts on Scoobynet.

Jay m A

iTrader: (2)

Not counting mortgage we've got about £4k on credit cards, but they're all 0% terms with savings pots set aside to pay them off before the term ends. So I don't consider it debt

<now where is that smug smiley>

bonerp

£3k in 30 mins once I've picked up the new motor.

Leslie

I am lucky in that the mortgage is paid up and I have always saved up to buy something except for the occasional bank loan to buy a car in the past. I have an inbuilt resistance to being in debt because I always remember that it costs plenty to borrow it.

It is a relaxing way to be even if I dont have all the possessions that I might want straightaway.

Les

Clarebabes

Great thread.

People who don't have debt, love to tell others that they have no debt.

SN will never be indicative of society.

We all vote tory, have pots of cash, not in debt etc.

Matteeboy

Still a debt though. And fast becoming a quite nasty debt.
It's also most people's major monthly expense and it's money borrowed from the bank.
Not counting it really is silly.

Now mortgage paid off in full - THAT is the perfect situation (that I'm not in)!

Chris L

True, but it is the difference between secured and unsecured debt. It is unsecured debt that is more likely to catch people out in the short term.

wrx-kris

Not everyone has a mortgage either.

turbomatt

iTrader: (1)

apart from my mortgage i have no debt, my car and insurance is payed for and i can go out when i want within reason. I have a few grand put aside for a rainy day also.Mine and the missus income totals £30000 a year and our house is 3 bedrooms and in a decent area.Im not trying to boast here because i have nothing to bast about, what i am saying is that if you use some restraint and common sense you dont have to go down the borrowing route

apkadb

Seriously, how do you cope on just 30k per year between 2 of you?

Can you really afford a Subaru and a house?