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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask how much debt you are in?

776 replies

Sunshine3013 · 18/02/2021 07:04

Just that really.
Wondering how much debt the average person is in.. Including mortgage, loans, credit cards, overdraft?

Just curious!

OP posts:
LINABE · 18/02/2021 13:10

@MyDiamondShoesAreTooTight

I know people are saying that they know nobody who has paid their mortgage off but 50% of owned houses are owned outright.

Not everybody tells people they are mortgage free. Everyone thinks I’m mortgaged up to the eyeballs but actually i paid it off over a year ago but people in real life are non the wiser!

This.
SteveBrexit · 18/02/2021 13:13

I don't necessarily think a mortgage is a bad debt either.

Life is too short. I'd rather pay less on my mortgage but have enough disposable pocket money to take holidays, have days out etc.

The pandemic has shown one thing is that you can't take anything for granted. If I was nearly mortgage free today but had deprived my family from holidays for the last 10 years I would feel like I wasted 10 years of our life.

We can stick to little trips within the UK when we are retired or something.

HeidiHaughton · 18/02/2021 13:13

@MyDiamondShoesAreTooTight

I know people are saying that they know nobody who has paid their mortgage off but 50% of owned houses are owned outright.

Not everybody tells people they are mortgage free. Everyone thinks I’m mortgaged up to the eyeballs but actually i paid it off over a year ago but people in real life are non the wiser!

I haven't told a soul in real life we are debt free. I'm quite sure my parents think we have a huge mortgage and years to go before its paid. We are careful with money and being debt free was our top priority. Now we're concentrating on pensions.
LordOfTheOnionRings · 18/02/2021 13:17

100k on mortgage, 3K to pay off on my car and £500 in cc debt

CustardySergeant · 18/02/2021 13:18

None. Mortgage paid off long ago. Credit card bill paid in full every month. Very healthy bank account + savings/investments. Far more coming in every month than goes out. On the down side - am old.

LaVitaPuoEsserePiuBella · 18/02/2021 13:21

Never cease to be amazed at how much personal information people are prepared to reveal to complete strangers.

I have no debt and own two homes outright/I have a £500k mortgage. Which is true?! And why are you interested? Perhaps I am lying anyway....

SheeshazAZ09 · 18/02/2021 13:22

None. We paid off the mortgage years ago and I don't get into debt to buy stuff. I only use my debit card, no credit cards. I got into debt once during early employment and it cost me big bucks in interest paid to credit card companies, so one I got out, I figured 'never again'.

SheeshazAZ09 · 18/02/2021 13:22

once I got out, not one...

MizMoonshine · 18/02/2021 13:25

3k.
But it's about to be a whole lot more with mortgage.

CallmeAngelina · 18/02/2021 13:32

None really - apart from 10 grand or so left on the mortgage. We could pay it off outright, but we're locked into a fixed term and would be liable for a penalty if we pulled out, so may as well stick with it for the last year or so.
We usually buy cars outright, but one of our current ones is on PCP, and
that's about it.

MarinPrime · 18/02/2021 13:33

I wouldn't tell anyone in RL that I was mortgage free. As seen as on this thread, it tends to piss people off.

sst1234 · 18/02/2021 13:33

@LaVitaPuoEsserePiuBella

Never cease to be amazed at how much personal information people are prepared to reveal to complete strangers.

I have no debt and own two homes outright/I have a £500k mortgage. Which is true?! And why are you interested? Perhaps I am lying anyway....

Personal information would be your bank account details, your mother’s maiden name or your DNA sequence. Saying you have X amount fo debt is not something that is going to particularly expose you.
mam0918 · 18/02/2021 13:35

@LaVitaPuoEsserePiuBella

Never cease to be amazed at how much personal information people are prepared to reveal to complete strangers.

I have no debt and own two homes outright/I have a £500k mortgage. Which is true?! And why are you interested? Perhaps I am lying anyway....

How is it 'personal infomation'?

No one on here know me in real life but even if they asked me outright in person I would give them the exact same answer of 'zero' and it doesnt tell them anything 'personal' about me.

It's not like anyone is giving out photos of their bank card, their address or NI number lol.

Seedandyarn · 18/02/2021 13:35

£0 however in 2008 that was a very different story we were drowing in debt.
We sold our house that paid off half then spent 7 years paying off the rest of the debt.
Finally in 2015 we were debt free.
We have spent the last few years saving up (DH also now earns 2x what he was earning in 08) and in the next 2 years while likely to buy a house mortgage free. Nothing feels as good as being debt free and having savings.
I remind myself this when I'm tempted to save less.

notacooldad · 18/02/2021 13:35

None, except a mortgage (do we consider this debt??)
I would. If owe something or someone money, whether it is called a loan or mortgage and you are paying it back its still a debt. Debt isn't necessarily a bad thing though.

Cowmilk · 18/02/2021 13:36

Zero but we rent.

dayslikethese1 · 18/02/2021 13:37

I have mortgage debt and student loans debt. Have never had a car as don't need one but obv that depends on where you live and your job.

dayslikethese1 · 18/02/2021 13:39

I do think student loan debt isn't the same as other debt though as you only pay it back if you earn over the threshold and only a set percentage.

Fiona2020 · 18/02/2021 13:40
  1. Bought my house outright at 30. No student loan. My car is pcp costing £135 a month but about to exchange. And I have about £150 on my credit card Smile

I was taught if you can’t afford something don’t buy it!

YerAWizardHarry · 18/02/2021 13:40

£4K in historic credit card debt that has been consolidated and is being paid off
I'm due to graduate and will have around £30,000 in student loans to pay off.

Don't have a mortgage yet.

Jimdandy · 18/02/2021 13:41

Just the mortgage of £9000 left. Will be paid off before the end of this year.

Then we’re moving to start all over again with another £210,000 debt!!

Nenevalleykayaker · 18/02/2021 13:41

@LaVitaPuoEsserePiuBella

Mumsnet allows lazy journos to pull any comments and post your username as their ‘source’ when they want to ‘write’ an ‘article’ for Take A Break magazine or whatever.

So yes, you do have to be a bit careful what you post about on a publicly viewable forum.
Personally, my username could out me in 60 seconds, but I’ve been on MN for donkeys years so don’t give a stuff anymore.

Skyliner001 · 18/02/2021 13:42

Own house outright, but because of family support. No debt, other than student loan

Notimeforaname · 18/02/2021 13:43

No debt. Saving for a house.
I'm surprised to see how many people have credit cards! But maybe I'm just out of touch with the world!
I know its extremely common in the USA for example. I'm in Ireland and only ever knew one or two people with them.
Are they more popular now than before or has it always been as common in the UK?
Sorry for derailing!! Just very interested.

mam0918 · 18/02/2021 13:47

[quote Nenevalleykayaker]@LaVitaPuoEsserePiuBella

Mumsnet allows lazy journos to pull any comments and post your username as their ‘source’ when they want to ‘write’ an ‘article’ for Take A Break magazine or whatever.

So yes, you do have to be a bit careful what you post about on a publicly viewable forum.
Personally, my username could out me in 60 seconds, but I’ve been on MN for donkeys years so don’t give a stuff anymore.[/quote]
My comment isnt 'outing'
My screen name isnt 'outing'
But even if it was who cares, theres nothing to hide or be ashamed of in what I posted.