Debt

[flowerpower122]

How much debt do you have?

AIBU to think debt is becoming more and more normalised?

Me and DP have £4,800 between us, but it's not 'debt debt' (as stupid as that sounds) it's just finance which we're chipping away at faster than we need to.

Nothing, other than my student loan from 20yrs ago (which barely counts as I'm only paying £8 a month towards it) & my mortgage. We don't have credit cards or overdrafts.

I've never had debt apart from a mortgage.

I wouldn't be against buying a kitchen or something on an interest free loan though, the money would be worth less in 5 years so that seems sensible.

These threads do attract the smug though - it's all very well to say never get in debt. But these are expensive times and if you have, for example, high mortgage from highest ever house prices combined with highest in 20 years interest rates combined with £££ childcare and bills/food going up - it doesn't seem difficult to see why people are increasingly relying on credit! Not just that they're irresponsible spendthrifts

140k mortgage left .that's it but I don't see it as debt , everyone pays for a roof over their head wether it be rent or mortgage
Excluding mortgage. Zero.debt

None, mortgage paid off last year.

The question is very age dependent. Really people only have debt for homes and long lasting items eg cars and it relates to length item is likely last for so buying a sofa on 3 years interest free credit is a good use of credit as sofas should last 10-15 years, similarly a car being an expensive item purchasing over 3 years makes sense as most don't have the upfront cash. Borrowing for day to day items is a trap into debt problems especially when they aren't truly essential. I'm a debt counsellor and it never ceases to amaze me how much debt people have from odds and ends, luxuries like holidays and just how many don't understand compound interest.

Ideally you have very little debt until you get your own home (owned or unfurnished rental) then keep it in check, one credit card is plenty. But temptation is all around and who doesn't like new things!

I have roughly £6k of debt, split between 0% interest credit cards and a low-interest loan. I racked this up in my 20s when I was a low earner and a reckless spender. Now I'm in my 30s, in a better paid job and have realised that spending money unnecessarily doesn't make me happy, so I'm gradually paying it off now. I don't think I'm in a minority to have a few thousand pounds of debt, despite what the responses on this thread suggest 😅

Mortgage and a massive student loan.