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.

it is Plan 1, so sadly not until I am 65.

Zero.

I'm intruiged by this level of creativity! Sounds pretty genius honestly. How many credit cards do you need to get up to £200k? Do you get in a muddle when their deals run out or do you track them on a spreadsheet? This would actually be an interesting AMA.

About £30k without mortgage. About £350k with.

Well if you include mortgage why is that so bad? At one point my DH and I had a mortgage of over £1m. So excluding my mortgage (not the £1m one - I have a £75k one), about £10k? Took an expensive holiday and a couple unexpected expenses pushed me to put more than I’d like on credit cards. Should be able to pay it off by October though.

I’m also intrigued as I was under the impression that you can’t pay a mortgage with a credit card. Unless you did a credit transfer into your account @crushedgrapes which usually comes with a fee…no?

Point is you have more disposable income.

Mortgage - £100k owing with really high monthly payments. (joint)

Credit card - £750 , paying off at £50 per month (joint)

Overdraft - £2k (mine)

Joint Savings -£900

No, I wont be getting a lodger or taking in ironing, or retraining in coding.

I'm also aware that 99% of mumsnetters overpay their mortgage, constantly ' top up their pension pot ' ( whatever that is), and have £500 in cash in the house in case of emergencies.

Think I've covered everything there!

That doesn’t make you “rich” either.

That doesn’t make you “rich” either.

The thread isn't about being rich though...

That isn’t necessarily true if you your circumstances change at the same time. Retirement, for example.

Yes, but a PP said “wow you lot are a rich you’ve got paid off your mortgages”. I’m merely pointing out that just because someone has paid off the mortgage it does not mean they’re rich. Means they are savvy yes…

Not including my mortgage because I don’t agree that’s debt (it’s 230k) age 36. We currently have £532.69 on a credit card which will be halved on pay day then paid off in July.

Nil.

well I owe £500 on my credit card for a holiday but intend to clear in the next couple of weeks.

Only debt is my mortgage, which is probably about £400k on an £800k+ house. Bought at 40, plan to be paid off by 50 and be mortgage free.

I think that’s fine. 🤷🏻‍♀️ No car finance. Never had a credit card or taken out any sort of credit or personal loan.

Ah right. Get you 👌

When we paid ours off we saved the payments every month which is a nice nest egg. We both retired at 60.

Zero debt.

No mortgage or credit card debt
30k loan which is being paid across 5 years.
I'm a single parent, work 2 jobs, DDs dad contributes exactly nothing to her upbringing, a loan gave us some breathing space and enabled me to get a new car. Steadily paying it off, all bills get paid and i save £500 month from my 2 jobs in a combination of high interest savings and DDs JISA account.
It feels like a huge amount of debt to me but it's manageable. Some of us aren't fortunate enough to have a two person household income or a huge savings cushion or help from parents I guess.

None.

😉

No debt at all

Ahh that’s a shame

About 5 grand. I’m paying it off monthly. I can’t even get a consolidation loan to pay it all off which is winding me up.