How much debt/mortgage payments are you in?

[Highlandspring1991]

We are currently in debt totalling to around £20k, they’re manageable and are overpaid each month but I can’t help but worry. Our mortgage is to a family member who bought our house for us and we pay x amount each month. I always get really anxious Incase I lost my job etc which I know I won’t but it’s always there at the back of my mind! How much is a normal amount of debt now days?

I read that and was thinking the same

There’s about 60k on credit cards, the rest is mainly a personally guaranteed business loan.

None.
Mortgage was paid offf earlier this year and we pay off our credit cards every month.

About £8k that’s car loan and a small credit card. Soon be a lot more when we buy a house

Only a mortgage - but it’s pretty huge as I am in London!

60K on credit cards

About 500 with credit card and parking tickets

£17k left to pay on mortgage which will be finished in 6 years. A credit card that I pay off each month And no debt. Debt gives me the fear, owing money to anyone fills me with anxiety.

About £38k left on mortgage and no debts (except if you count phone contracts we're tied into for a couple of years at £20 odd a month). I got into a lot of debt (about £150k) with my ex and it made me I'll through worry and lack of sleep ... I had a really good credit score when we split and I had to get a mortgage though! DH had never had any debt so we both cut our cloth accordingly now.

Our only debt is our mortgage, £280k. No loans or credit cards. When I was younger I ran up a stupid amount of debt, like £25k. I only managed to clear it thanks to an inheritance and thankfully I learned my lesson and haven't got back into that mess again.

Big mortgage, £230K ish. No other loans atm (student loan doesn’t count) and I pay my credit card in full every month; plus try and put away savings. DP does the same with credit cards, and has just finished off paying a couple of loans.

I think it depends on your income and other outgoings really as to how happy you are to manage debt. I think as long as you can easily afford the payments and have a clear plan to pay it off in X amount of years it’s OK.

I would hate to be in debt for general frittering away money whilst younger though, as I feel i’d have the pain of paying money back whilst having absolutely nothing to show for it.

DH and I both have around £1000 on credit cards. Both on 0% and £150 a month paid off on those, plus any extra I can afford each month. The cards are cut up and we only repay so we don't add on more.

Mortgage is pretty big at around £400k. It's London and our rent would be a lot higher than mortgage payments so it's six of one half a dozen of another.

No other debt, and won't be getting any more credit cards ever again once these are paid off. Managed to get it down from 7k in 18 months.

Apart from the house, £0.

Paid off student loan 4 years ago now, they even gave me a rebate of near 2k! Which of course went towards the house.

I’m terrified of debt and have never had a credit card.

We have a £200k mortgage which we pay comfortably (eg could at a push pay x3 the current monthly payment).

£10k husband’s student loan. One sofa on interest free credit. About £30k in savings.

No idea if this is normal range at all so reading replies with interest.

£21k on a (foreign) student loan with very favourable T&C's; £1100 on a 0% credit card; £250 0% overdraft and about £900 to my dad to help with a previous overdraft with sky high rates. Car insurance is also on a credit card because it was cheaper to pay the full amount in one go. Don't count it because I treat it as a Direct Debit - every month 1/12 is paid off.

No debt, never had any apart from mortgage. £400K mortgage but payments are comfortable on one income and we should move to two shortly. Also have a couple years worth of expenses in cash saved so could pay down a big chunk if needed.

I don’t think credit cards in themselves are evil things - I regularly spend on mine; I just make sure I control what i’m spending and pay it off in full every month. The problem is when you just spend, pay the minimum payment each month with no plan to pay it off.

Having and spending on a credit card is actually a really good thing for your credit score as long as you keep up with repayments.

@Japanesejazz it's only not an option for them because they don't know how to budget properly or go without things they don't actually need.
I've gone 'without' my whole life and am on track to pay off my mortgage when I'm around 40, plus I have zero debt except the mortgage.

No proper mortgage.

19 k extra mortgage for a kitchen and bathroom refit should be technically gone in four years, it will be gone in eighteen months.

No credit cards.

Around £1.1 million on various mortgages
Spend on credit cards but paid off by dd end of every month
Car on pcp has another £7k to go

Savings currently £130k but offset against the mortgage

£140,000 left on mortgage but no other debt. We are 30 and have a 20 year mortgage so going to try to overpay to bring down the term. We are fixed for 5 years at the minute

£195,000 on mortgage and £12,000 loan for house renovations

Thing is it's all relative to income. You could have a huge amount of debt, but be able to clear it in a short amount of time. Or you could have minimal debt and still have huge difficulty paying it off

No debt. 60k mortgage.Save 500 a month. Teacher pension.

76k mortgage left over 13 ish years. Loan of 11k which will be paid off in 3 years.

About £110 on a mortgage taken out, in the past couple of years, with a legitimate lender. Both late 40s and were mortgage free for a few years but we'll soon whittle this one down.