I'm feeling really glum today about our debts. We have had a really rough few years financially, due to dh having a chronic illness which means he cannot work, but apparently not entitled to benefits either, and no sick pay as was effectively self-employed. We have had dd and ds in 2 years, so my wages have been much less due to mat leave and pay. I am in a well paid job, but no permanent full-time position at present - a few sessions fixed but otherwise relying on agency work and locums. The work is still available but very unsettling not be sure of a full wage coming in. We have gone down to prob a third our previous combined incomes from 4 years ago! Also paying p/t nursery as dh not well enough to do childcare full time.
Although we earnt really well, we borrowed accordingly too. Just about managing after taking repayment holidays on loans and mortgage during last mat leave. Things will improve soon as expect within the next year to get a full-time position. We have a great house with a good bit of land which we bought 5 years ago as a renovation project. Due to lack of money and dh's illness (he's the builder!)we have not yet started the planned extension which would double the size of the house. Can't afford to pay anyone else to do it.
Just wondered how much other's owe... we have 17,000 in bank loans, 2000 or so on credit card and 175,000 mortgage, currently low repayment as fixed term has finished. 20 years left on mortgage but really hope to repay it sooner.
Am I worrying myself stupid over a "normal" level of debt these days, or do most owe less. Would be interested and maybe reassured to find out.