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?

I was debt free (except for mortgage) before my divorce. Unfortunately I've accrued £12K debt due to the marriage breakdown. I needed a personal loan to buy a car. I also have some credit card debt due to having to replace a couple of large household electrical items. They stopped working whilst I was going through the divorce and did have any extra cash to replace (due to divorce fees) so they went on my credit card.

None. I use a credit card but pay off in full each month.

None. Just mortgage at £720/month, which is recent and my first mortgage. I'm 48, and I've spent my life focused on increasing earnings and living within my means my whole life.

Job insecurity in my 20s taught me to be risk adverse for anything non-essential. I'm probably as sensible and boring as it comes in terms of financial management, and proud of that. Definitely not boring as a person 😁

None. I'm not keen on debt. I've had car loans in the past. Didn't feel comfortable till they were paid off. Never had a credit card bill owing. Interest rates too high.

We always have debt as we would rather pay monthly for something than save up and pay in one go.

So we always have at least 1 car on finance (around £15k) then usually 1 other thing either sofa/bed and mattress/windows and doors etc. Pay 1 off then take something else out we need

About £2,500 I think. All of it on 0% interest and low monthly amounts so manageable right now.

Could pay it off with savings if we had to, but may as well let savings earn interest right now.

In the next wee while I'm anticipating us getting a personal loan of around £12,000 to buy a new car (not brand new, new to us). Haven't made the commitment to that yet and holding off for as long as possible.

I also suspect I'll be taking some personal finance in September/October as I plan to upgrade my phone. Need good camera for work related stuff. I'm saving to try and pay for it that way but if I can get 0% interest I'll do that and keep the lump sum trickling in payment to the debt month by month.

Have you replied yet OP?

Nothing, but I'm old.

Mortgage and just had to get a 10k personal loan to pay for home improvements (new bathroom, kitchen floor, wood burner). No other way to do it for us.

Average unsecured debt per person for uk adults in 2024 is just over £4k.

The only debt I have is a credit card which I clear every month so never pay any interest on it and don't really think of it as debt but it would still count as an unsecured debt.

I have just recently taken out a car loan for £7000, but other than that nothing, and we have savings that could pay it off if needed.

7.5k at 0%, but over 4 times that amount earning interest in cash savings so I'm in no hurry to pay it off. I have no mortgage.

Nothing. Mortgage is even paid off. I am very lucky.

I need to think about a newer car though, current one is over ten years old.

I think many parents have to do this to get past the dreaded nursery payment years.

Why are you not willing to share? Or are you looking for fodder for an article?

Student loan and always in overdraft because the degree didn't lead to a well paid job!
Quite lucky really, could be a lot worse with a mortgage.

I did wonder this.

Yep very obviously this thread has provided fodder for an article. Such a shame.

None ever in my life. I don't understand how people who earn way more money than me are in debt either? Not trying to be smug just curious 🤔 I get it if you own your house and the roof unexpectedly crashes in but what are the rest of y'all spending your money on?
And no I don't have rich parents who buy me everything they pretty much disowned me when I was 16

it's easy to live beyond your means even if your means are pretty huge. Something like 40% of ex-professional footballers go broke within 5 years of leaving the game.

None. No mortgage or student debt either. Not even Klarna, it's a great feeling.

None.Mortgage paid off years ago. Pay off credit card in full every month.

£450 left on student loan

Student loan has been a nightmare to pay off. They keep messing up my repayment's. I never knew how bad the students loan company was.

They were meant to stop taking repayments from my salary from 1st January and I was going to clear it all. 1st May and they are still taking repayments from my salary.

£23k.
All 0%
Affordable atm, but could be going into my pension.
Tried to add to mortgage but they wouldn't as all at 0% with more than 6 months left.
Could have cut the monthly repayments in half.