Just to make you aware, as someone who worked in the finance industry (mortgages) for 24 years (and still got into a lot of debt - the irony does not escape me) a lot of lenders do not like or accept potential borrowers with any kind of pay day loan history - it is a big red flag that they cannot manage their finances appropriately - so you may have to approach a more specialist lender or leave her off the mortgage altogether.I have student loans through SFE but I don’t seem to be making a dent in paying that back - it will be written off in like 26 years and I doubt I’ll gave paid it back before then. Seems like a bizarre system.
My car is on finance but I have no mortgage, overdraft or credit cards.
My partner is in about 4K worth of debt with pay day lenders and it’s crippling her trying to pay it back quickly. If I’m honest it really worries me as we are starting to head towards living together.
I have a small house deposit but am finding it really tricky to actually start the moving out processes. I go into a massive panic anytime I even start to look at mortgage rates etc
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Yeah the plan is to leave her off. The deposit is solely mine and I doubt she’d get accepted. I’m gonna buy a house that I know I can afford on my own if anything goes tits up between us and she’ll pay ‘rent’ almost. We’d just need to work out an agreement incase of marriage/break up if you know what I mean. I’ve overthought this all a million times
It’s only £1 a day, I did get a loan to pay it off but ended up spending it again
I was brought up poor too, salt and pepper sandwich anyone? But was also brought up to not ask for help as my mum never would, hence my husband is sitting with about 5k savings on his account and I'm in my overdraft yet I won't admit it to him or ask him for help as I see it a failing. I know im messed upI was brought up poor & I think it skews your attitude towards money. It’s definitely made me a bit weird
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That sounds an odd situation - can’t you just share your money as you’re married? x
£1 a day is a lot! You need to go and get a small loan and then really try hard to curb the spending.
Just under 9k for my work van. My mum pays £100 towards it a month as her and my dad also use it when I haven’t got any dogs.
£1,500 on a credit card. I do need to make more effort to pay it off but first year being self-employed took priority. Luckily am going into the new year with more clients so fingers crossed I can pay it off sooner.
After my grandad died we found out my auntie, who lived with him and claims PIP due to several medical conditions, owes over £12k to various shopping accounts/loans etc. My mum and other auntie have had to take over her finances and now have to monitor everything that she buys.
£1,500 on a credit card. I do need to make more effort to pay it off but first year being self-employed took priority. Luckily am going into the new year with more clients so fingers crossed I can pay it off sooner.
After my grandad died we found out my auntie, who lived with him and claims PIP due to several medical conditions, owes over £12k to various shopping accounts/loans etc. My mum and other auntie have had to take over her finances and now have to monitor everything that she buys.
Ladies, thank you for this thread. It makes me feel so much better knowing that there are other people in similar positions.
I earn about £1,500 a month. I am living in my overdraft of £1,250 (I have been for 10 years now after getting into it when I was a student), £500 on my credit card and £100 on my next account. Plus small student loan, mortgage and then car. I don’t count the last three as I see them as acceptable debts, if that makes sense?
This is the year I get my tit together though. I turn 30 this month and do not want another year (or ten!) living in my overdraft. By Hogmanay this year my overdraft, credit card and next account will be cleared.
I earn about £1,500 a month. I am living in my overdraft of £1,250 (I have been for 10 years now after getting into it when I was a student), £500 on my credit card and £100 on my next account. Plus small student loan, mortgage and then car. I don’t count the last three as I see them as acceptable debts, if that makes sense?
This is the year I get my tit together though. I turn 30 this month and do not want another year (or ten!) living in my overdraft. By Hogmanay this year my overdraft, credit card and next account will be cleared.
I feel so much better hearing everyone’s situation. I mean i wish everyone all the best in trying to get out of debt and pay everything off but I use to walk round Westfield in London looking at people walking around with shopping bags in hand looking carefree etc. Or even people with nice cars and big houses. I now realise/think that a lot of those people are probably sticking it all on credit/finance and just chipping away at it rather than paying the full amount up front. I’ve always grown up being told to only buys things I could pay for up front so the only thing me and my husband have a debt of is the mortgage of £280,00 on a £400,00 house. We paid for our car in cash and anything else we need/want or we do without. We are not rich at all, my husband has an income of £37,000 and I’m a stay at home mum with 3 kids. We are just super careful and frugal. We like the nice things in life but we save for them. We have a big 3 bed house opposite a beautiful park in Reading and have an Audi, but please don’t be jealous or think it came easy, we have worked so hard to save for the things we want and have made so many sacrifices for the important things.
I love your post so much. People get in debt because companies are throwing money at them and nobody wants to save for anything anymore.
Where we live everybody is driving the newest cars and having flashy holidays and I just know these people have massive amounts of debt.
We weren’t dirt poor growing up but we didn’t have money and my brother and I Never got loads of toys or gadgets. And tbh I never felt bad or anything about the situation regardless of the fact that all my friends were loaded. It was just the way it was.
We have a £200k mortgage, 6k on credit cards at 0% and £12k on a low interest personal loan. We have joint income of about £95k, 10k in easy access savings and about £150k of equity in the house. I’ve never been twitchy about debt but my job is a bit unstable at the moment so we’re overpaying on the everything to pay it all off in next 6 months just in case I was made redundant (although to be honest if I was made redundant we’d probably be better off!)
Mortgage and student loans. We have a credit card, but only for emergencies and it's not currently being used.
Had a bit of debt back when I was 18, and it was easy to just buy clothes and nice things from a catalogue on credit. They then kept upping the credit limit, which was tempting as a uni student. I then gave my head a wobble, paid it all off, and haven't touched a credit catalogue since. They truly are dangerous things, and it's all too easy to fall into a trap - having seen it happen many times to people I know personally.
We're fairly comfortable because we're cautious with our money, and I save a lot. If we don't have the money for it, we'll save for it.
Had a bit of debt back when I was 18, and it was easy to just buy clothes and nice things from a catalogue on credit. They then kept upping the credit limit, which was tempting as a uni student. I then gave my head a wobble, paid it all off, and haven't touched a credit catalogue since. They truly are dangerous things, and it's all too easy to fall into a trap - having seen it happen many times to people I know personally.
We're fairly comfortable because we're cautious with our money, and I save a lot. If we don't have the money for it, we'll save for it.
New poster here but this topic is so relevant to me I thought I'd post.
Between me & my husband we've got 113k mortgage (260k house), 12k loan for work van over 4years, 1.8k credit card which will be paid off in the next couple months, plus a couple hundred on my Very account which was just Xmas presents.
We are currently looking to buy a fixer upper house, so paying off as much debt as poss, use our equity to pay for some Reno & then loans or credit card the rest.
I've always been brought up to only borrow what you can afford, and I always shop around & avoid impulse buying. If it's a cost over £100 then do research & find a deal. My parents didn't always have money, they bought my nappies instead of eating on some days, but worked their way up to middle class, so I've never felt "poor" but taught to be careful. It's one of the best things they could've taught me tbh as lots of my friends are terrible with money!
Between me & my husband we've got 113k mortgage (260k house), 12k loan for work van over 4years, 1.8k credit card which will be paid off in the next couple months, plus a couple hundred on my Very account which was just Xmas presents.
We are currently looking to buy a fixer upper house, so paying off as much debt as poss, use our equity to pay for some Reno & then loans or credit card the rest.
I've always been brought up to only borrow what you can afford, and I always shop around & avoid impulse buying. If it's a cost over £100 then do research & find a deal. My parents didn't always have money, they bought my nappies instead of eating on some days, but worked their way up to middle class, so I've never felt "poor" but taught to be careful. It's one of the best things they could've taught me tbh as lots of my friends are terrible with money!
Right now I'm down to £235. I rent, dont have a car, don't have any savings and very little 'fun' money each month (wages vary month to month so it can range between £20to £100 going spare) when all the bills are paid. I've had some huge expenses the last 18months, paying for my mum's funeral, moving house. I'm slowing putting as much as possible into doing up my new place. But it's a lot of pressure tbh. I loathe my boyfriend having to pay for something as simple as cinema tickets and the varying wage is anxiety inducing. I am looking for something else BTW before anyone suggests it
I’m sorry for your loss x
Wow this is a really interesting post!
Ive got a £1600 overdraft that i really want to pay off. Car on finance (i change it every few years) but i do need a decent car for work as if i break down i wont get paid and id have to pay for repairs. I live in a rented property... overall my bills are around £750-800 pm not including food and petrol. I SHOULD have about £400pm spare ish each month. Also got a 0% loan to pay to currys which i got last year. Needed new appliences etc. But that will be paid off next year. Im saving money as im having an op in the next 6 months so will be on sick pay for 8 weeks whilst i heal which isnt very much. HOWEVER after that km going to be looking for a better job.
Ive never really had a credit card or anything but i am incredibley generous even though im not wealthy.
Ive got a £1600 overdraft that i really want to pay off. Car on finance (i change it every few years) but i do need a decent car for work as if i break down i wont get paid and id have to pay for repairs. I live in a rented property... overall my bills are around £750-800 pm not including food and petrol. I SHOULD have about £400pm spare ish each month. Also got a 0% loan to pay to currys which i got last year. Needed new appliences etc. But that will be paid off next year. Im saving money as im having an op in the next 6 months so will be on sick pay for 8 weeks whilst i heal which isnt very much. HOWEVER after that km going to be looking for a better job.
Ive never really had a credit card or anything but i am incredibley generous even though im not wealthy.
I find this weirdly comforting, that I'm not the only one with a credit card. I have found a 0% to balance transfer to, and I am going to try and chuck £300 per month at it. After paying my share of bills and other bits, I should easily have enough to do that and plenty of spends left over. It just proves I waste alot of money on tit
£330 to partners grandad (have paid £500ish back from £900)
£300 to studio for Christmas presents and house stuff
£4 to pretty little thing
£300 to studio for Christmas presents and house stuff
£4 to pretty little thing
£4 to PLT?
I used klarna to buy clothes and owe 4 quid paid it off over 3 payments