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Original poster

How much debt do you carry?

156 replies

Treamcea · 30/04/2024 18:13

for those of you that are willing to share….

How much non mortgage debt to you carry and is it manageable, or does it keep you awake at night?

OP posts:
WonderingWanda · 30/04/2024 18:41

None (Well actually that's provably not quite true because our energy bill seems to dip in and out of credit every time they put the prices up until they put the direct debit up to some extortionate amount, so we won't be in debt for long). I have nothing brand new or flashy either though, my car is 10 years old. My windows need replacing as does my driveway.

When I feel envious of all the much younger Mum's I see out and about in their brand new cars I like to imagine they mighbeall be in loads of debt to make myself feel better. In reality I think I just earn shit wages as a teacher and have now been overtaken even by people in their late 20's who can afford a much more affluent lifestyle than me. Moral of story get a better job.

FuckoffeeBeforeCoffee · 30/04/2024 18:41

I got my first credit card this month to pay for a holiday (for the extra protection). I have £2195 left to pay. I have enough to pay it off but it's interest free so I'm doing it over two months instead of using savings.

WYorkshireRose · 30/04/2024 18:41

Around £30k remaining on my car loan. No other loans, CCs, etc.

Chatonette · 30/04/2024 18:42

Zero consumer debt. Learned my lesson the hard way in my 20s and had to get a second job to dig myself out.

Mortgage equal to 12% of the value of our property.

TheFlis · 30/04/2024 18:42

About £4k but it’s for furniture we purchased on interest free credit. I have the money sat in a savings account earning interest and will use that to pay it off before the term ends. It’s making me about £15 a month profit in the meantime!

TheFlis · 30/04/2024 18:42

Sorry double post!

ClipClopperDontStopper · 30/04/2024 18:42

None apart from my mortgage but a few years ago it was a very different story. I entered into a debt management plan with StepChange as I was feeling swamped by my debt, which was about a year's take home pay in total. I've tried to keep on top of things since then.

Singleandproud · 30/04/2024 18:43

£20000 remaining of a £41500 0% loan to my parents
£13000 remaining of a £25000 3.3% loan to First direct

Totally manageable £530 a month. I'm mortgage free thanks to the inheritance loan from my parents and renovated with new kitchen, bathroom, boiler and radiators with the FD loan.

£35k of student count I don't bother counting I repay circa £70 a month.

JoJothegerbil · 30/04/2024 18:43

Excluding student loans, which I'll never pay off as I was a mature student and will get to the cut off date for paying before I ever pay it off, about £1400 on a 0% card. I'll pay this off in around 4 months.

Chatonette · 30/04/2024 18:43

TheFlis · 30/04/2024 18:42

About £4k but it’s for furniture we purchased on interest free credit. I have the money sat in a savings account earning interest and will use that to pay it off before the term ends. It’s making me about £15 a month profit in the meantime!

I don’t really count this as debt—it’s intentional debt, working for you, and can be paid in full tomorrow. 👍

Fantina · 30/04/2024 18:43

When I was married we had no debt but no real savings. Fast forward five years post divorce from said marriage (abusive) and I now owe a family member £25,000 for legal fees and £15,000 on variety of loans and interest free credit cards for other related costs. I would have been able to clear the above within a few years but the interest rate rise screwed everything up as my mortgage went up by several hundred a month. I can keep our heads above water but unexpected bills - car, school trips etc.

Many of us are only one pay day away from disaster.

ClipClopperDontStopper · 30/04/2024 18:44

Whatsitcalled38 · 30/04/2024 18:31

Probably around 5k at a guess. I had to take out a load to be able to leave my abusive ex H. Also had to put things on credit like the fridge and washer.

That's debt worth having.

rkahic · 30/04/2024 18:44

Varied over the years, glad none now, but at one point was so high I lived on overdraft every month, took several years to get under control, it was just too easy to borrow on one credit card to pay off another, but it never did pay it off

ThomasineMay · 30/04/2024 18:48

About £2.5K left to pay on our kitchen, £250ish left on the sofa

It works out as £90 a month for the kitchen, £10 a month for the sofa

Very rough figures off the top of my head.

It feels very manageable for us, I forget about it most the time as the money is set up to come straight out our accounts on payday. They're both 0% interest so I don't feel like I'm wasting money on interest or anything.

I am looking forward to paying it off though - I don't like having debt if I can help it.

KnickerlessParsons · 30/04/2024 18:56

None. We paid off our only debt - the mortgage - earlier this year. No loans, credit cards, store cards or overdraft.

pinksheetss · 30/04/2024 18:59

£9,000 left on car loan (paid off in 2 years time)
£10k on interest free CC's
£7,300 on a loan (paid off in two years)
£7,000 on another loan (again paid off in two years)

Paying about £1,000 a month currently on debt repayments. It's intense right now but there's light at the end of the tunnel and it's manageable currently and anything extra goes into paying off.
DD is also currently in nursery costing us around £800 a month and once we get funded hours this will come down and the money 'saved' will go into debt repayment which I have calculated could knock off around a year of what's outstanding

The loans and CC all accumulated while on maternity leave and I have been extremely bad with money in the past but I have learnt some lessons and have been dealing with it.

DahliaMacNamara · 30/04/2024 19:01

No debt, not much in the way of savings, and it shows. By which I mean we haven't taken out loans for cars, or kitchens, or furniture, and it's all a bit shabby and dated. But it's fine. I suppose we'd take out a loan if we needed a new roof or something.

DiscoBeat · 30/04/2024 19:02

None, and no mortgage, which is a relief!

Tibiez · 30/04/2024 19:05

About 14.5k on a credit card. Yes it keeps me up at night but is totally my own fault. I don’t think I’ll ever be able to get on top of it even though most of it has been spread out onto various interest free credit cards.

checkedshirts · 30/04/2024 19:05

None and no mortgage either, I paid it off with disability benefits

Heatherbell1978 · 30/04/2024 19:06

Bit unsure why so many are replying 'none'. OP clearly wants to know how much people have if they have it. Between DH and I we have around £7k on credit card debt. All on 0% deals and could clear if we wanted to but it makes more sense to us to chip away at it paying no interest.
We have a car through my work which we pay monthly on too

HoobleDooble · 30/04/2024 19:09

None except £20kish mortgage which I have the money to pay off sitting in an account at 5% until my fixed period at 1.2% ends in 2 years. My student loan got wiped out on my last birthday. So, I suppose we have things like 2 year phone contracts but no loans, credit cards etc.

A VERY different situation than when I was with my ex and had about £60k of loans, cards etc on top of £100 mortgage. I couldn't sleep and when we split up, he remortgaged, paid off the joint debts and kept the house, and I swore never to end up like that again.

abracadabra1980 · 30/04/2024 19:10

None at the moment - but I'm comfortable with up to £2k. I'm very disciplined with money, so live my life accordingly. I also have a decent life on a low wage.

dothehokeycokey · 30/04/2024 19:13

Around £4500 mainly on house items

A sofa,new fridge freezer,that kind of thing.

My plan is to get it and the credit card which isn't currently 0% down to zero by the end of the year and be debt free again

We were debt free for a small amount of time last year which was a lovely feeling but the repayments we make now are more than manageable but plan to double up on the credit card first then work my way through

isittheholidaysyet · 30/04/2024 19:14

Student loans only.
DH is paying back, but i am not as I don't earn enough.
We've never really had debt.
Used to have credit card (for security purchases and travel abroad), but paid off every month. I can't get one now and DH doesn't believe in them.