View Poll Results: How much do you owe?
Nothing.
71
47.33%
up to £10k
39
26.00%
over £10k
27
18.00%
don't ask!
13
8.67%
Voters: 150. You may not vote on this poll
Debts - How much do you owe?
#1
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Debts - How much do you owe?
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?
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?
#3
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?
If I were you, I'd stay debt free as much as possible. What do you do with your "disposable" income? Save? Spend?
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#12
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.
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#18
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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.
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.
#22
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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>
<now where is that smug smiley>
#24
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
It is a relaxing way to be even if I dont have all the possessions that I might want straightaway.
Les
#25
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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.
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.
#26
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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)!
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)!
#27
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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.
#28
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#29
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