How much debt are you in?

[eyelinerpencil]

Was chatting to a friend earlier who is in over 500k of debt, which she thought was ok but I think is astronomical.

Not including the mortgage, we don’t have any debt as such, we’ve cleared it now.

However, kids at University, well it’s just like ripping up tenners every day.

I wouldn't class my mortgage as debt so no debt if we can't afford it we don't get it.

I wouldn't add in mortgage, what is it excluding mortgage

We were including mortgage. I don’t understand how you don’t class that as debt.

We were counting mortgage and student loan. Everything.

In that case your friend is a typical Londoner on the property ladder!!

Zero. I've just paid my mortgage off, last month. It is an odd feeling. I'm 63 so not before time. 😊

Even Dave Ramsey doesn't count mortgage in with consumer debt on his Baby Steps Plan.

Very few people can afford to buy housing outright. Tbh not everyone can afford a deposit let alone a mortgage.

Zero. Mortgage free/home owner and no other debt. 43.

£2k on a 0% credit card. Also a mortgage but that will be paid off later this year.

Out of interest

• how much did you earn during the mortgage repayments?
• How old are you now?
• did you have any help with your deposit?

Well you can’t get a small three bed semi for less than £650 where I live (south coast) so no, not excessive or unreasonable.

Agreed. It's like the thread a couple of weeks ago when the wide-eyed OP asked if she was unusual because she paid off her credit card in full every month.
The page after page of responses confirmed she was not at all unusual, apart from posters who didn't even know what a credit card was.
'In full, every month' x 100

None. One advantage of being old. The mortgage was paid off years ago. If we can't afford something we don't buy it.

I’m not shaming anyone! I literally just was still thinking about a conversation had at the pub. Why be so touchy?

I actually (if you read my comments before) am wondering if it’s the way to actually get ahead in things and I’ve missed a trick. It’s interesting to hear about the big mortgages and now people have nice properties (I’m a renter).

I only class real debt as money you’ve borrowed that you don’t have the means to pay back e.g. my mortgage isn’t really debt as if I had to I could sell my house to pay it off, I have a loan for my kitchen for £11k which is interest free but, I have that amount of money in the bank so could pay it off. With that approach I only have my student loan which is about £35k. If I was to add up all of my debt, including mortgage, it would be around £340k.

Zero debt , but I do have an older car and rent, so 🫤

I have had debt in my life and it was a very worrying time. I think it got to around £60k on various credit cards at its worst. I was married to a financially abusive man for many years and life was hard. I wont get into the details but I did eventually get it paid off. The cards were cut up and I've never used a credit card since.

I'm now completely debt free aged 60 and mortgage paid off. Life is definitely better on this side of the tracks.

No debt and no mortgage, own outright. We don't live a flashy lifestyle though, car is 6 years old, mostly shop at Aldi and bulk buy in Costco. We're very fortunate.

Other than mortgage:-
£7000 car loans ( we have 2 small cheap second hand cars though mine cost me a bloody fortune in repairs amd sure I’d be better off on finance deal)
my next account is usually between£300/500 owed (terrible interest rate I really need to pay this off)
we do have about £5000 savings.
always skint last week of the month

337k of a mortgage and that’s it. I don’t really consider it bad debt though tbh.

300k left on the mortgage
1k on a credit card
2 cars on PCP
18k left on a loan that I needed to pay for urgent private surgery that was refused on NHS

About 8K on an interest free car loan. The equivalent is in an ISA earning interest while the repayments keep up my credit rating and my monthly spending in check.

other than that, none. No mortgage.

If you’re including mortgage as debt then most people are in debt tbh. We paid off our mortgage about 3 years ago thank God. Have CC debt of approximately £500 which will be paid off by end July hopefully

Almost a mil. It's all my mortgage and we pay it comfortably. No big deal.

I have about £88k left on my mortgage
£35k student loan debt
Around £3k on credit cards (which i hate and am desperately trying to reduce)

500k seems like a massive amount to me!