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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Curious how much debt is normal?

226 replies

Mummabear04 · 15/12/2024 13:02

Just being nosey really to see what's the average for other people but how much debt are you in excluding your mortgage? I have just under 4k of debt between DH and I due to student loans but don't have anything else other than the mortgage (we have put paying back our loans first and only saving a little each month instead). How about you?

OP posts:
CreationNat1on · 15/12/2024 13:04

0 zero

45 years old, so that explains that.

Bonjovispyjamas · 15/12/2024 13:06

None. Didn't go to Uni, so no student loan and I rent so no mortgage.

Fireworknight · 15/12/2024 13:06

Have had car loans in the past, but nothing at present.

skippy67 · 15/12/2024 13:07

I've never had any debt outside of my mortgage. No uni debt, never had any loans.
Mortgage paid off a few years ago.

Lanzarotelady · 15/12/2024 13:08

Currently £1000 on a credit card, but some flights on, will be paid off by Feb

TheUndoing · 15/12/2024 13:09

We don’t have any except the mortgage. Early thirties and both paid off our student loans. We use a credit card for the points but pay it off every month.

You’ll probably get a better sense of the average position from stats though rather than random replies on mumsnet! https://researchbriefings.files.parliament.uk/documents/CBP-7584/CBP-7584.pdf

Itsallgoingtopot · 15/12/2024 13:09

No debt. 30 years past uni so before tuition fees.
Never had any debt apart from mortgage.

ByQuaintAzureWasp · 15/12/2024 13:10

Never had any debt in my adult life apart from the off cock up were I forgot to pay credit card for a month

MangoBiscuit · 15/12/2024 13:11

I have about 5k on a 0% card from our new bathroom materials. But I also have well over that in savings. (card will be cleared before rate changes, but I'm gaining interest on the cash atm)

So either 5k, or 0 depending on how you look at it.

LuckysDadsHat · 15/12/2024 13:16

Mortgage of 180k left and that's it. We did have a small 8k loan for some work on the house but we paid that off as soon as possible (in 2.5 years instead of the 4 we took it out for).

I hate owing money. We will eventually start overpaying the mortgage but just can't afford to at the moment with the cost of living.

Plastictrees · 15/12/2024 13:18

Student loans and mortgage, I’m in my mid 30’s for context.

Peoniesandcats · 15/12/2024 13:19

mortgage, student loan and I use credit cards every month for day to day spending to get the Cashback and benefits but I pay it off every month

LostittoBostik · 15/12/2024 13:19

Just the mortgage.

Occasionally we have £250 or so on a credit card around holiday bookings but always paid off the next month.

We are forties/fifties so student debt was cleared a while ago.

BelgianBeers · 15/12/2024 13:21

It’s meaningless as a question. Age, family wealth that has been shared or inherited, jobs … surely context is all. I have non but I am 50+ so that is more expected.

Londoneye20 · 15/12/2024 13:22

Think only the debt adverse are replying! I've had anything from £18k to 0 and am comfortable with it. Use CC for big ticket items , get the points and pay off before any interest kicks in

DecayingRelic · 15/12/2024 13:22

zero

jellykitkat · 15/12/2024 13:22

Just the mortgage. I’m 43 and have paid off my student loan.

Nejnej · 15/12/2024 13:22

Lots of people debt free, well done! We've got a big mortgage, about 60k each of student loans (thank you 9k fees) and 12k of debt (all on a car hire purchase).

The student loan is treated like a tax, as it's just a percentage of my income and I'll never clear it

WinterMorn · 15/12/2024 13:23

I have loads of debt, split between several credit cards and a loan. I have been in debt since I was 18 and I imagine I will carry debt until
I die. I think it’s just a fact of life for many people, and certainly is for me.

Nc546888 · 15/12/2024 13:24

Husband has around £10k debt.

i have a student loan which I will unlikely never pay off (started at £28k I paid off like £3k and recent years the interest is accruing faster than I could pay off as I’ve paused paying back. I think it’s now £34k) anyway I’ve googled it and I won’t earn enough before 65 to pay it off

ComtesseDeSpair · 15/12/2024 13:24

Usually around £20k - £30K depending on the time of year and our annual bonuses. We use debt for economic efficiency: it makes financial sense to put things on interest free credit cards and have our savings and investments locked away earning higher interest.

biscuitsandbooks · 15/12/2024 13:24

Just the mortgage.

I personally don't count my student loan as I'll never earn enough to pay it back and it's due to be written off completely in 12 years. It doesn't impact me at all day-to-day.

ShanghaiDiva · 15/12/2024 13:24

none and have never had any debt. However attended university in the 80s with a full grant,

MajaTime · 15/12/2024 13:25

I was just smugly going to reply none because I hate the thought of debt but I do have a £60k student loan. I don't view it as debt, more like the biggest lie I was ever sold tax.

Ginmonkeyagain · 15/12/2024 13:26

Excluding mortgage debt? Currently £800 as I just used my credit card to book travel and hotels for a holiday early next year. I'll pay it at the end of the month.

I did have £18k of student loan debt but paid it all off by 30.

It is so much harder these days as that student debt would be three times larger for many.