How much debt are you actually in?

[Firecrotch69]

Inspired by another thread about the consumerism & influence we have nowadays to buy hauls and keep up with the Joneses.....

I am in £150 debt with paypal
I owe £200 to my mum from years ago (she hasn’t asked for it back but I’m always thinking about it - and have offered - but never really have it to give back...)

What about you? Honestly....

 

[Lalalalaaaaaa85]

I don’t have any debt but I also don’t own my own home and nowhere near having a deposit to do so

 

[Nosymum]

£36,000 from trying to survive on disability benefits after 2 emergency spinal surgeries like wading through mud.

 

[Twinkle485]

No debt
No mortgage
No car on finance
work all the hours under the sun but physically cannot afford to get into debt.

 

[memoii11]

No debt, and mortgage paid off.

 

[Yel]

Nothing on credit cards, 11k student debt and loads on the mortgage if that counts?

I lived beyond my means shortly after graduating and got into debt despite earning what I considered a fortune. I felt so embarrassed, countless clothes that I hadn't even worn I donated to a charity shop. Since then I've moved around alot so tried to keep stuff to a minimum, aways pay off my credit card at the end of the month and spend my money on experiences rather than possessions.

 

[Brianbadonde]

Long time lurker first time poster here. Interested in people’s replies on this topic to see if my situation is normal. I’m 33, single mum to 16 year old since the age of 18. I have 2 credit cards (around £2000 each) very account of £750 and a £250 overdraft. Rented home and two jobs. Trying really heard to pay it off but there’s always something.

 

[Dizzy]

No debt aside from our fairly hefty mortgage. We have good pensions but should save more. My disposal income goes on clothes (trying really hard to buy less this year), holidays and socialising.

 

[Kermitthefrogswife]

£18k student debt, hefty PCP, PayPal owing around £1,300, 4 credit cards owing about £12k and a loan with about £6k. I never realised it was so much...

 

[Titntat]

About 130k on a mortage Trying to get it paid off asap (house is worth 250+k). Renting on our roads about £900 pcm (cheap compared to london but were up north).
And owe my mum about 3k from when she lent me the money to buy a car (20k car so not that bad) cheaper than a bank loan.
No student loan because I did an apprenticeship.
Also 28 mom of two so not doing too bad.

 

[eSsExBiRd]

Just my mortgage and car, I still have nearly £1.5k a month fun money after all bills are paid. I have CC’s and accounts with Next & Very but I always pay it off and the mortgage is overpaid every month. We have plenty in savings so in summer we will get rid of the car and buy a newish one outright with savings.

8 years ago I was in £25k debt and renting. Lots of hard work and savings and we now have a good saving pot and our own house. We have had several promotions, bonuses and 2 redundancy pay outs along side a year of saving £1k a month (it was a killer but so worth it!) to help. No outside help, all done on our own.

 

[Omghon]

£16k business loan, £8k on 2 credit cards (no longer in use but slowly paying off), been a home owner for just over a year so I have a large mortgage to pay and a car on finance for 3 years

 

[Lynseyp]

Credit cards= 3k
Club books/ catalogues = 7k
Due to receive £6,500 in mis sold PPI any day now so will use that to pay off as much as i can.
Trouble is my credit limit increases just before xmas so its very tempting to shop but resisited the temptation.

 

[Kermitthefrogswife]

You can opt out Lynsey, that’s probably the safest thing to do, if you can. I nearly fell into a big trap with my bank basically telling me to get an overdraft and I don’t need one at all! Fortunately, I’m now starting to pay off enough to get better deals and get 0% transfers which is a lifesaver.

 

[eSsExBiRd]

Credit cards= 3k
Club books/ catalogues = 7k
Due to receive £6,500 in mis sold PPI any day now so will use that to pay off as much as i can.
Trouble is my credit limit increases just before xmas so its very tempting to shop but resisited the temptation.

I’ve opted out of credit increases, if it’s not easy to select online then call them to decline future increases

 

Long time lurker first time poster here. Interested in people’s replies on this topic to see if my situation is normal. I’m 33, single mum to 16 year old since the age of 18. I have 2 credit cards (around £2000 each) very account of £750 and a £250 overdraft. Rented home and two jobs. Trying really heard to pay it off but there’s always something.

This is relatable to me as a single parent to a teenager. I am always around 3 grand in debt at any given time....clear it and then it’s Christmas again. I always put his presents on either my argos or very account with the interest free option. He loves a gadget and I’ve always got him the same as his friends have who have 2 parent households.

I have a mortgage too and a car on finance which will be paid next year but will be getting a new one. These are essentials to me so don’t class as debt.

 

[Lynseyp]

You can opt out Lynsey, that’s probably the safest thing to do, if you can. I nearly fell into a big trap with my bank basically telling me to get an overdraft and I don’t need one at all! Fortunately, I’m now starting to pay off enough to get better deals and get 0% transfers which is a lifesaver.

My bank keep sending me messages to upgrade my account where there is an option for an overdraft as my current acc is a basic one - i have refused it as i don't want one.

 

[Kermitthefrogswife]

I think I need to grow up in terms of my position, whilst it’s getting better, it’s far from ideal and sometimes I just cry and despair at what I’ve gotten myself into. If I could I would enter an IVA I think but my occupation prevents me from doing so. It will get better though

My bank keep sending me messages to upgrade my account where there is an option for an overdraft as my current acc is a basic one - i have refused it as i don't want one.

I dislike this as they make you feel, or me at least, like I should do it or that I’m ‘entitled’. It’s poor on their part in my opinion

 

[Deepsigh2018]

Student loans and mortgage debt but I don't really count them as proper debt if that makes sense. £75 on my credit card and thats it really. It took me a few years to clear debts after being stupid as a student at uni and being a 22 year old single parent. Now I try and buy most things outright

 

[Whatliesbeneath]

Student loans and mortgage debt but I don't really count them as proper debt if that makes sense. £75 on my credit card and thats it really. It took me a few years to clear debts after being stupid as a student at uni and being a 22 year old single parent. Now I try and buy most things outright

Yeah i dont see uni loan as a debt as it clears after so many years, and if you earn under the amount they dont force you to pay