Discussion
BoRED S2upid said:
So I read today that on average us brits are carrying £10k of personal debt not including mortgages. Some people must have tens of thousands for it to average out at £10k each or these figures are complete bks.
Car loan? Finance counts as personal debt I suppose, even if you have positive equity in the product.I don't know about that but from my circle of friends and people I know, there's a hell of a lot of borrowed money and yeah, mostly into the tens of thousands.
That's on top of continuous remortgaging to pay off the debt, only to build it back up again.
What I have found, the older I've become, is that there are a lot of people about that keep up appearances i.e. flashy cars, holidays, home improvements etc. Personally I'd rather say I can't afford something but am finding that my attitude is surprisingly the exception to the norm.
That's on top of continuous remortgaging to pay off the debt, only to build it back up again.
What I have found, the older I've become, is that there are a lot of people about that keep up appearances i.e. flashy cars, holidays, home improvements etc. Personally I'd rather say I can't afford something but am finding that my attitude is surprisingly the exception to the norm.
BoRED S2upid said:
So I read today that on average us brits are carrying £10k of personal debt not including mortgages. Some people must have tens of thousands for it to average out at £10k each or these figures are complete bks.
Do you own everything you have without any associated debt? No car loans?
No credit cards?
No sttore cards?
No personal loans?
It all adds up rather fast. If you owe nothing, lucky you. I'd say you were the exception to the rule. Even on PH.
TTmonkey said:
Do you own everything you have without any associated debt?
No car loans?
No credit cards?
No sttore cards?
No personal loans?
It all adds up rather fast. If you owe nothing, lucky you. I'd say you were the exception to the rule. Even on PH.
Thing is, that describes me. I wouldn't dream of getting into debt to afford anything other than a house, simply because that's what I was brought up with, it makes sense to me and in my family it's normal. It's not like we're massively wealthy or anything, we just only buy stuff we can literally put our hands in our pockets and pay for there and then.No car loans?
No credit cards?
No sttore cards?
No personal loans?
It all adds up rather fast. If you owe nothing, lucky you. I'd say you were the exception to the rule. Even on PH.
To be frank I'm amazed most people in this country are allowed loans for anything other than property. How on earth someone on a £24k average salary can justify almost as much on a car that'll be worthless in ten years really is beyond me.
Eric Mc said:
Count me as a lucky one too then.
Or is it good financial management and realistic expectations rather than luck?
Me too, I have my mortgage and that's it as far as debt is concerned, I have one credit card that is paid off in full every month, if I haven't got the money to buy it I do without until I've saved up.Or is it good financial management and realistic expectations rather than luck?
Hugo a Gogo said:
average student debt is 20k in Britain
I wouldn't class this in the same league as other types of debt - hugely generous terms. Like if your income drops below a certain level, you don't need to make any repayments. At least this was the case when I was a student and subsequently paying it off.HurryUpAndWait said:
Hugo a Gogo said:
average student debt is 20k in Britain
I wouldn't class this in the same league as other types of debt - hugely generous terms. Like if your income drops below a certain level, you don't need to make any repayments. At least this was the case when I was a student and subsequently paying it off.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff