AIBU to ask how much debt you are in?

[stingray586]

Having a conversation with DH about whether our debt is above average or not. Our household income is approx £40000. We do have a mortgage but don't want to focus on that more asking about credit cards and loans. We have a credit card with £3000 owed on it and pay £200 a month for our car. We hope to pay off the credit card within the next 12 months.
AIBU to ask how much debt you are in? And if you also don't mind saying what your household income is as well? As obviously being £3000 in debt when you earn £20000 is a lot different to someone who earns £100k.

Joint income of around 90-100.000. Mortgage, no debts, nice savings account. When I was single (income of 22.000) I also never had debts. I wasbrought up that is was very very shameful to take out a loan or have an overdraft.

I felt poor in my twenties and just couldn't understand how other people could afford the naice furniture and holidays. My EX always said that I was shit with money. His friends said that I should just go on holiday etc and said that I should buy brand clothing to look prettier. Now that I'm almost 40 those friends have nothing and are paying off their loans. My EX doesn't have anything put away for his pension and has a lot less money than me. I now am grateful that my parents taught me never to take out a loan. I totally understand people that take out a loan because of a baby or redundancy but it's really stupid imo to go into debt for brand clothing and luxuries.

No debt at all. I was in £7k debt in a previous life with no prospect of ever paying it off at the time (and it was increasing by the day with no money to live on so the interest spiralling) so I took out a DRO. Best decision I’ve ever made, though I’ve rightly paid the price ever since of terrible credit until very recently and all of the ways that impacts my life.

Today, I have none. I’ve been successfully running a credit card and overdraft with zero balance on either for two years. The DRO sure taught me how to manage my money.

Household income today is £70k, both mid to late twenties and saving for our first child and property. In three years time we’ll be on ~£80k. I share my debt history as saying I have no current debt is true but doesn’t show the full picture and the dire circumstances I used to live in.

None. Home was inherited, credit cards are paid off monthly before interest can be charged, all annual bills are paid in advance outright rather than on payment plans, all three vehicles are outright purchases not HP agreements, all the furniture/white goods either inherited, bought at auction or cash purchases when on sale. I appreciate we're very lucky to have the inherited house to build the rest of our economic life around though.

And that both DP and I are part of the last generation to get a (nearly) free higher education.

Debt 5k on a credit card, income 90k.

Just mortgage for us. We use the credit card for most things but pay it off each month. No debt and some savings but our household income is over 93k. Although my dh pays 14.5% into his pension so that takes a chunk of money.

About £800. But that will be fine by feb next year. I don’t like being in debit

£30k of mortgage debt which will be gone in 6 years at the very latest.

Our business has a small loan (less than the above) but that’s not personal debt, although I do see it as such.

Actively about £500 on an interest free credit card which will be paid off in 3 months and then about £400 left to pay on our sofa. All in DHs name. We rent our house.

I am however on a DMP and have about £7k left to pay on that. Pay no interest on any of that though and it's down from £12k. All loans and credit cards from when I was about 19. Sickens me but there's nothing I can do about it now and it's left me very careful about my spending and I avoid debt as much as possible.

I work part time and DH full time our income is about £45k. Which feels a lot written down but doesn't feel much month to month. We do have to run 2 cars though as we both need them for work, which is expensive. They are old and second hand, bought with cash.

2.5k on an interest free card. Went on a ridiculously expensive holiday with friends, car broke down and just overspent.

This is despite an income of over 80k. DH earns more than this. We do have a sizeable mortgage too.

Fed up of being crap with money so started YNAB last month and so far so good.

Nothing other than student loans of £100k plus

Just mortgage of £700 a month (less than 65% LTV) and student loan which we both ignore. We own our car and pay off credit cards each month.

I'm always a bit worried in threads like these. It feels like if we have another recession and unemployment goes up a lot of people will be underwater in weeks

joint income of about 50K. have been massively in debt in previous years but now have about £30K on mortgage and no credit cards or car loans. we are in our 50s though and live in a shitty flat so not as great as it might sound.

I don't work but husbands income is around £65K. No mortgage as bought our home outright. Have credit card and a couple of store accounts but these are paid in full every month as I get reward vouchers from it. We both have savings.

I have 45k debt on a buy to let, about 7k on credit cards and 20k as a business debt (I am refinancing that). I have a household income that is tiny, maybe 10k but I also have a capital asset and a profitable business with loads of potential so am really not concerned about the debts despot my numbers being eye watering next to all the pp

Around £1000 between 2 overdrafts, just over £2000 on 2 credit card (£1400 of that is interest free though) about £600 on catalogues, £700 for TV and Fridge freezer and probably a few other little bits I’ve forgotten so maybe £5000 in total.

We are in the midst of me working part time and paying for childcare. It’s depressing that we owe so much but we have no savings and live month to month in our overdraft.

If we didn’t get our fridge freezer on credit when ours broke last month we couldn’t have afforded it any other way.

We earn around £30000 between us.

Dh has a student loan (don’t actually know how much it is though as he pays it obviously). Otherwise no debt. Neither of us have a credit card or any loans (both cars are old secondhand ones we paid cash for). We don’t have a mortgage though will shortly as we’ve been saving and looking to buy in about another year when I return from mat leave. Household income is probably 75-80k when I’m working, which makes it much easier obviously. I hate debt and refuse to have a credit card or loans for that reason. We’re lucky that though we haven’t always been so comfortable, we also haven’t needed to rely on credit to keep our heads above water, even in our leaner younger years.

Only debt is mortgage. We earn £42k together a year.

Income £92000 pre-tax, mortgage paid off, no debt.

Only debt is mortgage, on course to pay off by 2025. I pay off credit card every month and don't buy things unless I have the money.

I think we are incredibly lucky when I read threads like this.
I have £500 on an interest free credit card - I only have it to keep my credit score high.
We don’t have car loans and we don’t have a mortgage either thanks to a generous parent ( this was after my best mate ripped us off for in excess of 100k but that’s another story) .
We don’t have a high income but we don’t have any rent or mortgage to pay either.
I have savings again ( wiped out after ex best friend) . Not much but enough to cover everyday things like the boiler dying.
I also save religiously every month as I’m so scared not having a decent cushion. I like to have ‘ running away money’ as my hubby calls it!

All these replies with ‘no debt’ why bother commenting? Surely op wants to hear from those with actual debt.

But i have debt and probably just jealous of you that dont haha.

I earn 11k and debt of £14k. A loan of £10k and a CC of £4k interest free

Credit card - £2k
Overdraft from uni - £2k
Student loan -£55k

No mortgage