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How much debt you in ?

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Gully

Monkey in a seagull suit.
Apr 24, 2004
16,812
Way out west
I usually buy the best quality that I can afford whenever I buy something, whether that be clothes, hi-fi, car, etc, you generally get what you pay for and something well made will last for a long time if you treat it well.
 

Rambo

Don't Push me
Jul 8, 2003
3,814
Worthing/Vietnam
Apart from the mortgage, I owe nothing.

Its a big bloody mortgage though!!

I agree with what was said earlier, why owe money on something that is losing value as you pay for it? Crazy.

At least the house should be a worthwhile investment.

If ya cant afford it - DONT BUY IT.
Easy.
 
D

Deleted member 2719

Guest
None for me.

Debt isn't just for christmas.


It's for life.


:ohmy:
 
Nov 5, 2004
7,986
Telford
Debt is fine if the loans are at the right rate AND your assests are greater than your liabilities. I have 4 mortgages at the mo and buy absolutely everything on a credit card that has a cashback and which I pay off in full every month. I also have £6k on a 0% credit card.

Who said interest is for mugs? The mugs are the people who pay interest (esp anything over 6.5%), the smart guys are the ones who receive interest (esp if its over 5%) and tax free.

Can't wait to get my next loan - going over to Portugal on Weds for 2 days to look at the next "investment opportunity". The alternative is buying a place in somewhere like Bulgaria right now. Property is going up 30% per year at the mo and you can buy a reasonale 4-bed for about £35k - £40K. That's gonna increase in value at the rate of around £1k per month yet an interst only mortgage payment is gonna cost around £160 - is there anyone who would NOT like a debt like that?
 


Shizuoka Dolphin

NSC M0DERATOR
Jul 8, 2003
6,986
N/A
2 grand student loan (man, I got off lightly there...) and 1000 overdraft (which HSBC helpfully turned into a 'managed loan' for me) which is in the process of being cleared.
 

Starry

Captain Of The Crew
Oct 10, 2004
6,733
Absolutely nothing! Not even on the house.

We made our last payment on the debt we had from taking Anastasia abroad to receive care last month. Bittersweet. But we are now debt free.
 

Jesus Gul

Members
Feb 23, 2004
5,249
sully said:
I had an interest free loan for my car that has about £7k still to pay, plus I'm half way through paying a loan that cleared my credit card that will take about another £4.5k to clear. Since taking it out, the credit card is back up to £3k, but still on an interest free deal.

Could be worse, and it's all well catered for in my budget, so not something that concerns me greatly, mainly as I'm not actually paying much interest on the debt.

One LFP Bonus should clear that little lot :lolol:
 


sparkie

Members
Jul 17, 2003
11,003
Hove
Too much

Credit card 1 - 7k
Credit card 2 - 10k
Credit card 3 - 3K
Credit card 4 - 6k
Credit card 5 - 5k
loan 1 - 3k
loan 2 - 10k
loan 3 - 15k

= 59K

But ... all ok, as the house is worth 350K, and outstanding mortgage is 160K

Remorgage going though, on a better rate, which clears all the debts

:clap2: :clap2: :clap2: :clap2:

This is your Ghost of Christmas Future, young man.

Your debts will fluctate but never really leave you.

Tough times ahead, especially in Winter 2022/3 which you'll be glad to see the end of.

But, although tough, your magnitude of debt will be much less by 2023.

16.5 years later :

Credit card 1 - 1200
Credit card 2 - 700
Credit card 3 - 500
Credit card 4 - 250
Credit card 5 - 200
loan 1 - 800
loan 2 - 670
loan 3 - 330
Overdraft - 1950

= 6.6K
 

BBassic

I changed this.
Jul 28, 2011
10,628
Mortgage aside, absolutely nothing.

Got myself into a bit of credit card debt when I was in my early twenties and that f***ing sucked so once that was paid off I swore I'd never do it again.

Don't even have a credit card these days.
 

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