How much debt are you in?

[Bottomlesspit21]

Following on from the savings thread, how much debt are you in?

Not including mortgage but including student loans, car finance etc.

I’m not in any debt but haven’t got much in savings either!

@Lolwhat

£200

Looks like you'll be needing to pass "Go" without landing on Park Lane or Mayfair.

Nothing except mortgage

@Bottomlesspit21

I don't like these kind of threads either. And further to what a previous poster said, the 'how much SAVINGS have you got' thread is just as bad, because it makes people (who are struggling financially) feel like shit when someone says they have £50,000 to £100,000 savings.

A thread asking 'how much is in your private pension' was on here about a year ago, and some people were claiming £500,000 to a million pounds. If that WAS true, I bet they haven't got that much now, as many pensions have tanked.

Most people lie on the internet anyway, and especially on here.

Me and DH have ZERO debt and no mortgage by the way.

Or we may have a £200,000 mortgage and £75,000 of debt. Who knows? Who cares?!

I know people are free to scroll by and not read the thread, but as a few posters have said, asking 'how much debt are you in?' is pretty insensitive, and crass.

About £3k on my student loan. Nursery fees are done through salary sacrifice impacts how much I pay back. £56.60 on one credit card, 0 on the other 2. All paid off monthly and used to separate out spending.

About £70k on the mortgage.

Wtf, people, just don't answer if you don't like the question.

I currently owe £8k on a hire purchase car loan and about £4k on a 0% interest credit card. I have a plan to pay this down within the year but will be amassing more debt in the meantime.

£265k left on the mortgage
£7000 left on a car loan (car worth currently £15k)
£700 on my credit card (maternity spending - back to work next month so will be paid off again)

I do have savings but for some reason I’ve kept those in case of emergencies

[quote userxx]@MiscUser9823 I like plenty that's on the internet, questions like this are unnecessary though, especially at this moment in time. Far too many suicides occur because of debt, it's not something to ooo and ahhh over.[/quote]
I do see where you are coming from. But at the same time it is something that needs to be discussed.

In the sense that, if there are issues with debt, we need to face them head on and overcome them.

I guess there are 2 sorts of debt. Unavoidable and avoidable.

Unavoidable debt - to pay rent and put food on the table.

Avoidable - people living above their means. (Borrowing money for cars, credit card shopping, etc)

Unavoidable debt should be discussed so that we can understand why this is happening and what needs to be done to prevent it for others. (E.g. job opportunities, food banks, etc..)

Avoidable debt should also be discussed to educate others and encourage responsibility.

Fortunately for me none at all. I have been in the past and its not a nice experience. I'm sorry for those of you having a bad time, I hope things pick up for you.

Nothing except the mortgage. Credit card is paid off in full each month.

We’re on an anonymous board, it’s good to talk about debt and finances!

Now - none and have great savings. But wasn’t always the way at all - bad (BAD) post grad loans, student debt. Was suffocating. As soon as I got rid of it I flipped into saving mode just to get some buffer - wasn’t much but truly every little helps.

So it varies. Now good, once seemed hopeless.

None except mortgage, and you will find that posters like me are over represented. People are far more willing to speak up when the answer is positive, than to put in writing that they are struggling with a personal loan, car finance and 3 credit cards.

Mumsnet is full of people who have zero debt. I don’t know how honest people are being or whether it is truly full of high earning / high income types because plenty of surgerys and studies done show that most people have some level of manageable debt.

We don’t have a mortgage, we own outright and are lucky in that respect but we do use credit cards for stuff, we don’t see it as an issue as we manage it well and if we really had to we could find a way to pay it off (we have savings and equity etc). We owe about £10k split across a few cards.

*surveys!

I don’t know exactly without looking at it all but around £30k ish I think.

I’m not really fazed by it as I’ve always been in debt. We’ve paid off a lot in the last 10 years. Honestly I think we’ll be paying debt off forever.

I don't think this kind of thread is appropriate what with Covid / people on furlough/ redundancies and not to mention mental health that people may be suffering with.

It's in poor taste and quite frankly absolutely none of your business.

Student loan £68,496.24
Excluding student loans and mortgage, £0
I don’t really count the student loan as I’m never going to pay it off, I just think of it as a tax on being a millennial!

@MiscUser9823 @littleloopylou

Whilst people are free to skip past and not comment 'if they don't like the thread title and content,' people are ALSO free to say they think it's inappropriate to post threads like this when so many people are suffering financially and suicide rates are through the roof because of debt!

@MiscUser9823 I think it's a fallacy to assume that all car loans are unnecessary

Just the mortgage. But DH has business loans.

Both have 7 year old cars, loans paid off on them.
We have done nothing to the house for years (here about 14 years). When we built it I had a large credit card debt but that’s long paid off. We really need to get a lot of work down.

No student loans here, I’ve worked throughout Covid, so appreciate we are in a lucky position but also we could easily have a load of debt hanging over us if we’d upgraded cars and the house, gone on more expensive holidays etc prior to Covid.

I think age is always an important factor. I'm 29 and other than my mortgage have £8k in student debt.

@littlepattilou ok. That's true. I think it's strange and whiny and snowflakey though. It's like me (having had to leave my abusive partner) going on someone's poll about things husbands do and complaining that it's insensitive.

[quote littleloopylou]@MiscUser9823 I think it's a fallacy to assume that all car loans are unnecessary [/quote]
Majority are, not all though. (Amongst people I know)

Unless you need a car/car loan to travel to and from work. (E.g. my second job involved shift work, that required a car)

Im talking about people who finance or hire new cars as they like the image.

None. Just our mortgage.

About £12k student loan - was paying back but given up work to care for disabled baby (hopefully will be able to go back to work in around a year so will start paying it again)

About £2.5k left on car loan be paid off in 2 years then probably get motability car

About £3.5k on loans/credit cards being paid thru stepchange. 15 months left to pay.

Not great but hopefully heading in right direction