Your debt vs the nations

[PennyAtkinson]

I came across this new interactive infogrpahic yesterday and was quite shocked by some of the stats -www.helpwithdebtconsolidation.co.uk/you-vs-the-nation/index.php Initially I was pleased that my £25,000 debt was below the national average but that it got me thinking about how many people are above/at the national average with £54,197! I just wanted to share this with you ladies and ask what your thoughts are on the stats - especially the fact that around £164 million is paid in interest daily - now that's just ridiculous! Let me know what you're thinking :)

I came across this new interactive infogrpahic yesterday and was quite shocked by some of the stats www.helpwithdebtconsolidation.co.uk/you-vs-the-nation/index.php Initially I was pleased that my £25,000 debt was below the national average but that it got me thinking about how many people are above/at the national average with £54,197! I just wanted to share this with you ladies and ask what your thoughts are on the stats - especially the fact that around £164 million is paid in interest daily - now that's just ridiculous! Let me know what you're thinking :)

£55,000 doesn't sound ridiculous if we're counting mortgages as borrowing.

per adult?
half the mortgage each is maybe 30 000 debt

It says it includes mortgage debt which doesn't seem appropriate, especially as there's no reference to salary. DP has a mortgage debt of £300k in his name and I'm sure many homeowners have similar (we are Londoners) which would bump up the average. But it's affordable with his salary and makes more sense than renting and with rising house prices. My own debt otoh was £70k until recently, all unsecured with no mortgage debt, which was much less sensible compared to my low income (but I got good debt advice last year and have had it written off). Very glad I did as it says on the infographic that it would take 7940 hours to pay it off (probably more as I'm on less than average UK salary)!