How much debt are you in?

I dont think you an class a mortgage as debt as compared to renting not being a debt....you will have to pay that amount of rent for the rest of your life, or at least until you buy and will have nothing to show for it. With a mortgage you are paying it off and have a bought and paid for property at the end of it. To compare you would have to calculate your yearly rent and multiply by how many years you think youll be renting and count that as a debt. Even then the person with the mortgage ends up with a house, the rented doesn't. Also with student loan, you wont get foreclosed on for a student law, if you lose your job you dont pay it, most get written off after a period of time, its more a tax on your earnings than a debt.

So technically, I suppose we're in about £200k of debt, considering student loans, mortgage etc. but nobody really considers those things as "debt", especially not student loans which work more like a graduate tax for most people.

When someone says they are "in debt" they usually mean that they are in arrears on payments and struggling to pay off large credit card bills or pay day loans.

None. Paid off mortgage a couple of months ago and our cars are owned outright. I certainly haven’t always been in this position, there was a time I was afraid to open the mail because I knew I’d probably gone over my card limit.

Absolute nothing. That’s not to say I’ve never been, but the most was £6k from an HMRC fuck up and I saved up like hell to get rid of that. Lucky enough not to have a mortgage and everything is bought outright

Zero debt, no mortgage, no student loans, no credit card debt (we have two credit cards used for emergencies).

But I have a tiny terraced house, we don't smoke or drink, we don't go on holidays.

Currently £270 left on my interest-free phone loan (my old one died a couple of months ago so I had no choice) and maybe £100 on my CC which will be paid off over the next two months. That's it.

Unsecured debt - £10000
student loans - £21000
family loan - £500
i don’t have a mortgage (rent)

Around £100k … all mortgage

I don't class my mortgage as debt as it's more so an investment I'm slowly paying into if that makes sense. Besides that we have 3k on Car finance left to pay. We have always lived within our means and have never had a credit card or even an overdraft. If people can afford their 'debt' then I don't see an issue.

We chose to take part of our new car on finance because we didn't want to take the full amount for it from our savings

Mortgage paid 10 years ago, no debt, use credit card but pay in full each month. Small savings and living on pensions. I know I’m fortunate.

Huge mortgage but low LTV (<30%).
Capital is being invested so mortgage currently not being paid off.

No debt.

If I counted my mortgage, car and credit card - £167k

I’m careful with debt as I want to retire at 60.

Yep only mortgage debt, about £500,000 on a £900,000 house. We are lucky that we have no need to have any other debt or borrowing.

Yeah, I totally agree… I could definitely be more savvy with how we pay for things, getting cash back, points etc.

My mortgage is £1200 a month, I won't rent a 3-bed in London for less than that, and as a bonus, I get a free house at 60ish for my retirement. I don't look at it as debt, although technically it is. Whilst my CC might have some interest-free debt on it in the short term, it is more than offset by other assets.

Technically about £800 as I pay a lot of things on my Tesco credit card so I get the points. I pay it off completely every month though

No other debt aside from mortgage

You should get a credit card! Very useful for the consumer protection and also for the points. I put all spending through nectar Amex and I get loads of free shopping over a year.

None. Paid off the mortgage earlier this year, and cleared all credit cards a couple of years ago. Might occasionally dip into our overdraft towards the end of the month if its been a busy month. Oh, and I occasionally use the 'pay in 3' option on PayPal, so I suppose that's technically debt - but never amounts to more than £100.

Like others have said, I don’t class a mortgage as debt.
We have two mortgages, one on our home and one on a rental property. Other than that, no debt, we don’t even have credit cards.

If that’s mainly mortgage then yabu. If it’s credit cards, cars, etc tabby. A small manageable amount of debt is a good thing. To get a good mortgage deal dd had to take out a small personal loan to increase her credit rating - paid it off Dow tho

If that includes a mortgage it’s not remotely shocking. Houses are quite expenses now, have you heard?

This

I bet she loves you starting a thread about her debt.

I owe £80K on a mortgage or £60K if you offset savings.

I don't class this as debt though as it is against my house which is worth £450K. My plan is to downsize and pay of the mortgage in full within 5-10 years.

I usually have a few hundred on my credit card but pay it off in full every month.

No student loans, car loans or overdraft etc.

Maybe £5000 student loan - don’t really keep track of it. And I guess maybe £3000 on my kitchen that I’m paying for interest free over 5 years. Other than that zero debt, mortgage paid, no loans, no credit cards etc