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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:
MooseAndSquirrelLoveFlannel · 30/04/2024 20:00

£6k on my car loan, due to be paid off early next year.

£52 on a 0% credit card. I only use it for big purchases as it earns me clubcard points.

I'm very careful with money after getting myself out of debt.

Leah5678 · 30/04/2024 20:00

LaurieFairyCake · 30/04/2024 19:44

£587,000

🤦‍♀️

Mortgage?

Compsearch · 30/04/2024 20:03

Just the mortgage, but it is a lot.

Derpo · 30/04/2024 20:04

About 28k, I sometimes have a mini stress about it but it was needed and we have a several years plan to pay it off so it doesn’t keep me up at night

inneedofaglowup · 30/04/2024 20:11

30k in debt. I got ccjs. Mortgage. Credit cards. Student loans. Bad credit. But somehow I'm still going.

AloeVerity · 30/04/2024 20:31

Mortgage but at least 50% equity in the house. No credit card debt. Car loan on 0% interest repayment terms. Plans in place to clear car and overpay mortgage each month. It has not always been like this!

Crikeyalmighty · 30/04/2024 20:35

Around £6.5k across credit cards for me - a fair bit as some of the costs of coming back to UK and shipping stuff back

H has £9k left on car loan plus around £2 k on credit card .

LynetteScavo · 30/04/2024 21:02

These threads are always pointless.

But I'll bite. - Apart from the mortgage we have no debt. We also don't have brand new cars, or things around the house that I'd really like, such as a new bathroom, new sofas. I was looking at my credit card limits today and I could get into huge debt quite easily if I chose to.

LindorDoubleChoc · 30/04/2024 21:08

I don't understand why you are discounting non-mortgage debt?

Our only debt is our mortgage still at £120,000 and we are boomers aged 61 and 59. For sure it keeps us awake at night.

PoppyCherryDog · 30/04/2024 21:18

None

Shiningout · 30/04/2024 21:22

Seems like a lot of people have come on to say none 🤣 I have a few grand, and likely to go up. Single parent, left horrible marriage, no benefits, no child maintenence

Kitkat1523 · 30/04/2024 21:25

none….but I’m 59 so mortgage we’ll paid off.
cars bought for cash.
credit card used only for holidays and paid off the following month.
I have an Argos card …but haven’t used it for a couple of years

mitogoshi · 30/04/2024 21:25

None, paid off mortgage 18 months ago

mitogoshi · 30/04/2024 21:36

@CadyEastman

A question was asked, it didn't say don't answer if you have paid off your mortgage.
We are all different ages for starters, I'm hoping to retire in 5 years time myself so it's the point in your life where you have paid off the mortgage and you are saving money into pensions, isas etc for the future.

I've had debt in the form of a mortgage and interest free loans for white goods and furniture in the past plus a car loan once. I choose to go without and save up for things because I learned my lesson young, overspending when I bought my first flat in my 20's - I paid off the £4K of debt I racked up with an inheritance and taking in a lodger and never did it again.

Maraa · 30/04/2024 21:40

Probably about £15,000. Did used to keep me awake at night but that didn’t solve anything. I’m happy that this is the most in debt I’ll ever be and I’m working on it, plus with a recent pay rise, I’m not even looking at the extra wages and chucking that into paying off debt. It isn’t ideal having this much, but the damage is done so may as well just tackle it one pay day at a time. I could pay it off a lot quicker, but currently I’m managing to overpay the minimum payments each month and still provide for my family and enjoy treats and days out with my family. Which to be honest is my priority.

Shinyandnew1 · 30/04/2024 21:43

None-feel very fortunate that the mortgage is paid off, student loans were small and paid off quickly and car was bought outright (nothing fancy).

We do have a credit card to use for any big purchases but pay it off each month.

elenathevampireslayer · 30/04/2024 21:44

Just our mortgage and I do have a car on finance.

Feel lucky as this time last year we had nearly £20k.

A family member knew our situation and offered to help as they could see how hard we both work and what was happening.

It was like robbing Peter to pay Paul every month.

They don't want repaying as we're the only family they have and they've said it would all be left to us should anything happen to them anyway so they would like to see us enjoy our life now and make things easier for us which we really appreciated. Will be forever grateful.

Ankylo · 30/04/2024 21:45

Just what we owe for our super king bed.

Luckily mortgage free. But we would like a bigger house so we may not stay debt free!

OhGoodRainAgain · 30/04/2024 21:47

None.
We're 40 and 42 and have never had a credit card between us in our lives. No bank loans. No cars on finance.

sandgrown · 30/04/2024 21:49

When my ex lost his job we had to use credit cards . At one point we had £39,000 CC debt . Unfortunately they were in my name and after an acrimonious split I was left to pay them off . I was having sleepless nights but I spoke to the companies and closed the cards to pay them off. Through being frugal and taking a second job I have got the debt down to £14,000. There is light at the end of the tunnel and I am very proud of myself .

Nellieinthebarn · 30/04/2024 21:49

We downsized our house and paid off the mortgage and all the loans we had. I do have outstanding student loan, but that won't get paid because I had to take early retirement due to ill health, and I'm not likely to get better.

Fluffyowl00 · 30/04/2024 21:50

checkedshirts · 30/04/2024 19:05

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

Aww these Tory trolls are soooo good

otnot · 30/04/2024 21:50

Just under £8k but have enough to pay it; the debt's on 0% credit cards and I have savings at 5% so doesn't make sense to pay it off.

Wazzzzzuuuuuuup · 30/04/2024 21:53

Around 12k in a 0% credit card. I'm comfortable with this. I have more than that in savings (bear in mind debt is 0%). I've had some house related expenses and also put some holiday expenses on my card, will be paid off by autumn. Student loan paid off earlier this year, dh had a pay rise, car loan paid off next month, mortgage is manageable. I can always make more money 🤷

YesHesAPlonker · 30/04/2024 21:55

ssd · 30/04/2024 19:17

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

This.

I'm almost 70, very WC upbringing, parents always saved for what they wanted, I was not allowed to get things "off the catalogue" when my friends did. I remember when we finally got a fridge - they never did get a phone while I lived at home.

The only debt I've ever had was a mortgage, and CC when I was in my 20's and a student - even then if I couldn't pay it off at the end of the month I really tried hard not to use it the following month.

I don't buy what I can't afford to save up for. When I could no longer afford to keep up the house I adored, that I never wanted to leave, I downsized to a small modern one.

I've always lived within my means.

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