How much debt do you carry?

[Treamcea]

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?

About £4K on 0% credit cards. Built up some when DH was unemployed for a bit and then some more currently on unpaid portion of mat leave. It’s manageable and doesn’t keep me awake at night, but I will feel a lot better when it’s paid off.

Absolutely none. I grew up poor. I have a fear or debt.

Around 10k on credit cards from when I had a few months of unemployment. Trying hard to get it all paid off within a couple of years now

Sorry OP but these threads go the same way as the 'how much do you earn?' threads...all the boasters come out to play and make ordinary people feel crap because they have a bit of debt. You won't get a view of the wider nation from a thread on Mumsnet.

As for me, yes I have debt and no, it doesn't keep me awake at night. I wouldn't borrow to unaffordable levels and I do my best to have a backup plan in case something unexpected happened.

It always does go the same way doesn't it? I have no idea why unless MN sends out a big shiny badge to the ones who say they're debt free to give them some validation?

That's so great. Final stretch!

I paid off the last of my credit card in February. No more debt right now. But I don't have a car or a house. And I live on a strict cash budget.

Everyone on this thread is a massive MN typical bullshitter/liar

HTH

Not harsh. I was trying to be helpful

But the OP asked how much debt people are servicing, and for some people the answer will be none.

I don't see why it's not OK for some people to reply saying none.

I don't see why it's not OK for some people to reply saying none

These threads always get swamped by MNers kern to say they have no debt. I can't see how it's helpful.

I’m a bit of a Dave Ramsey fan. Carried a lot of credit card debt in my 20s. Found him and Martin Lewis in my 30’d and sorted myself out so now I have none. A lot of luck as well though as I married someone who has a job with a house so that’s made the early years with kids different.

None but at my worst amount about £40k - awful. So stressful, kept DH up at night. It was because DH got made redundant and then it took a while to find a new job, meanwhile we still had the mortgage to pay and all the rest of it. All paid off now and we’re back to no debt and savings (minus our mortgage that is!!).

I think it can be helpful, e.g. @WhitegreeNcandle's post.

I suppose it depends on what the OP wants from the thread.

Totally agree that it is probably helpful to hear from MNers who have been in debt and how they managed to get out of it.

12k which went on a new kitchen and an upgrade to our car which was needed for health reasons.

The new kitchen we mostly funded out of savings but costs ran away with us and we figured we may as well get what we really wanted. It's added 25k of value to the house and should be paid off within a year so I'm not bothered.

Couldn't get a mortgage

So we used part of savings for house build

40k

House build cost 210

So had to take out multiple loans over a 5 year period

So my repayments each month are around 4k

Scary as hell

Credit cards 15k in total

Around 5 k on furniture

Working my ass off to give the builder his final lump in cash in sept

Few years of this

Then no debt

Will love a simple easy life then

£587,000

🤦‍♀️

+1 on Ramsey. His system helped me pay off £10k. I still use the principles.

About £15k on a car loan. The repayments are affordable and it doesnt keep me awake at night but I hate having debt. It's the first time I've used car finance and I won't be doing it again.
We have credit cards that are set to pay off by direct debit every month.

Seriously?

Before this I had zero debt

All feels. Very odd to me

Okay, I’ll bite.

The OP asked a question and various people have replied. Some of them (me included) have said they have no debt currently. These people are being told they are either lying (bullshitting), or after shiny stickers, or trying to make others feel worse.

I posted that DH and I have no debt. Context? In the last ten years we have had -

Furniture on finance
appliances on finance
cars on finance
holidays stuck on credit cards
random shit on credit cards owing to lack of budgeting
a loan being paid off

It has taken years of work, financial literacy evenings on the sofa poring over forums, listening to podcasts, spreadsheets, learning budget apps - and dollops of good fortune that neither of us have seen shit hit the fan or developed major illnesses.

So the answer to the OP still remains the same. Zero debt for either of us. Not a bullshit, not after shiny stickers.

Some people have a lot of debt. Shocker. What's the point of this thread?

40k on credit cards.

they are all 0%. I roll over to a new card as they expire.

However i have 30k in cash savings at 4-5%, and the rest in an ISA.

so overall I am making money on the debt.

Sanch1 · Today 18:22
None, we have credit cards but use it for the protection on higher value purchases and pay off straight away.

Same here