How much debt are you in?

I guess it’s all relative when you compare it to your assets.

Our mortgage is about £200k but we have assets of nearly £1million.

Credit card with about £700 on it. That’s it.

None 😊

None. We previously had a mortgage (at its max £650k) but recently paid off.

I've technically got some student loan outstanding, but I am medically retired so that will be written off when I claim my state pension in 4 years. Other than that, no debt. Its a lovely position to be in, and there were times when I thought we'd never achieve it. But we've got a very frugal lifestyle compared to some, and I am happier to live simply than have debts hanging over my head.

Mortgage isn’t debt in the same sense as a loan or credit card. It is a financed asset. Unless you have negative equity you are actually in credit not in debt. If you have a 100k mortgage but your asset is worth 200k then really you don’t owe anything, your net worth is 100k.

Yes, that's what I meant, apologies if I worded it wrong.

Exactly. So do we consider their next 25 years rental payments a debt like she’s judging the mortgage?

Yeah a bit distorted to include mortgage in the same category as things like credit card debt. If I include mortgage, I've got £492k in debt but if I exclude it I've got zero debt. I've probably got £700k of equity in the house though (London). Of my total mortgage payment, £1,500 is interest per month and there's no chance I could rent a similar property for anywhere near that in my area (even a one bed flat would probably be at least that much). So I would classify this is "good" debt compared to renting and throwing away that money each month.

No - when someone says they are in debt k think they usually mean anything that is debt other than a. Mortgage or students loans. Any short term loan, credit card or utilities arrears

£500k for mortgage which I feel is pretty standard for people in London. No other debt

It's important to differentiate between 'debt' and 'borrowing' for your question, OP.

We have maybe £20k borrowing across credit cards, but I don't really consider this as debt because it's been done strategically for bigger purchases to pay these off at 0% rate over time that I would otherwise have had to take out of investments that are growing in value. If I wanted to pay the cards' balance off tomorrow, I could easily but it wouldn't make sense.

Mortgage (if considering this) - £360k, but the value of the house is now easily double this so again if we had to sell the house tomorrow we could clear the mortgage balance.

So I therefore have around £380k borrowing, but my net financial position is very healthy with six figures in savings even after borrowing is considered, and so I definitely don't consider myself 'in debt'.

A house cab be sold though. That's very different to credit card debt or a loan.

Mortgage £520k
credit cards £22k - 0%
BUT savings £30k

High incomes £190 household. Debt because house Renovation exceeded budget 🤦‍♀️. Don’t feel comfortable with it. Won’t pay off savings because when mortgage so high, must maintain liquidity as buffer. Will not pay interest. Will never buy car on finance.

Great points.

When I had a Facebook account, someone I knew updated her post once as 'mortgage free and feeling thankful '

SO tactless .

Don't miss the BS of social media

In answer to the OP, I have a mortgage of 140k but no other debt !

Bemused by posts that say a mortgage is not a debt😐
A debt is a sum of money that must be repaid, on this basis I would discount student debt, because it is linked to earnings and is really a tax.

Mortgage £253,000
Car loan £14,000
Credit card £1,000
Total £374,000

Mortgage £105,000 and car finance £11,000. No loans or credit cards etc.

Mortgage isn't really debt. If I wasn't paying my mortgage I'd be paying rent - slightly less each month, but nothing to show at the end of it.

I've got £6k on an interest free credit card, and about £5k in savings. DH have £9k on an interest free credit card and £20k in the bank so overall were ok.

Yes exactly the same here. S&S ISA is going up faster than the house value atm so putting the 'extra' in that

Not counting approximately 60 grand on the mortgage? About 300 quid until i pay off the credit card in a couple of days time.

Including mortgages and student loans? About £420K between us as a couple.
Discounting those? Zero.
Car is bought outright, we have a credit card but it's paid in full every month. A friend of mine was over £30K in debt on credit cards and klarna and all those pay monthly type items and it literally turned my stomach (she is a good earner and seemingly 'sensible' so how she got in so much debt was a wonder!)
Many years ago, I think I was £500 in my overdraft and it literally kept me up at night worrying for weeks until I paid it off!

Small mortgage that I could pay off but it's not worth it, the money are earning me way more in S&S ISA, I do overpay here and there but I'm not bothered about it.
Other than that I have zero debt.

mortgage is never classed as debt as it is repayable over a very long period. So take the mortgage off, how much is her debt then?

I have zero debt because I only buy what I can afford and save if I want something. It is how I was brought up and how I am bringing my DD up. If you want a holiday you save, you don't put it on the card.

Loans to use facilities or cars or education is not considered debt as a bad debt when you go and sell your mum's silver and lose it all on something and so on

Is this net worth? If you have loans of half a million but have ten million in investments it isn't a problem.

We have no mortgage now but we are late 50s and 60s and only paid it off 4 years ago after years of over paying and then downsizing. No car loans as we don't buy expensive cars. I have a credit card debt of around £1,500 which I will pay off over a couple of months - this was holiday spending money.

I have been in debt before with overdraft and credit cards but DCs growing up and being responsible for themselves and moving out has helped with expenses. It did suck for quite a few years though!