Be Excellent To Each Other

I worked out that despite considering myself quite careful with money, I have debts comprising of student loans (£9,500), car repayments (£13,400) and credit cards (£300) of £23,200.

Quite scary.

Including Student Loans, Credit Cards, Finance agreements, mortgages etc, how much do you owe?

Including mortgages - only £180,000ish (yay for equity!)

Without - £0

Thing is, I don't really count mortgages as debt, as they're secured. Ultimately if I can't pay them back they take the house, and pay me back the 45% of the house that I own. Job done. Unsecured debt would scare the crap out of me. Did, in actual fact, when I had some. About 15 grands' worth of student loans and professional skills loans. I paid those off yonkers ago, though, a couple of years after graduating from law school.

EDIT - ooh, yes. And I am 30 years and one months of age.

My student loan is about £7000ish, that's it.

Topic probably works better if you include age as well. I'm 26 earth years.

I take it you're not including mortgages in this, or almost every homeowner would be in the last bracket.

Did you read the last line of his post, chap?

Yeah, include mortgages, because not everyone is a homeowner.

I was curious to see if people have the same stomach sinking feeling as I did of how much money they had borrowed from other people.

£0

One hundred million dollars.

Not including ISK

15k of student loans.

I did have about £7.5k of student loans (from before you had to pay your own fees, just ), but due to my lack of home-ownership I currently owe £0, which feels pretty nice.

£3k left on the loan to pay off the credit card, about £6k in student loan.

Both will be gone soon enough.

We owe between £15 - £20K, £15,000 of which is on cards and loans and rest in overdrafts. It seems like a lot but I'm not *that* bothered. We had been very poor for years and it was depressing, we barely managed to live within our means and one day we thought fuck it, we'll be rich one day! I feel not one ounce of guilt, I'd prefer to have no debt so that we could save more for a mortgage but I'm not overly bothered by it.

Mortgage £170k
Overdraft £1.5k

My car loan finishes next month.

Overdraft is in bad shape after Christmas, will be sorted soon enough though.

Mortgage.

Not too shabby really.

I didn't read any of it. Just looked at the brackets and thought they were a bit low.

0 cash

1 loan, 2 x cards, 1 x mortgage

Student loan. Problem is, it just doesn't feel like debt in the way my overdraft did.

student loan & mortgage. I is feexed by the wife

Just a mortgage here.

Well over the £50,000 mark mind, still I actually owned well over 1/2 the house as well (Although God knows how far it's fallen in value in the last 18 months or so since I bought it)

Malc

Student Loan: £16,000 (4 years, full loan)
Everything Else: £0

I don't take my student loan to be actual debt but rather a wage modifier. Due to doing my PhD I haven't actually paid anything off on it yet or had the ability to have savings. Saying that though I did manage to clear my bank overdraft that I built up during my undergraduate.

Still this should all be changing soon. I bloody well hope.

Would only take a loan for a house, business or car.

Zilcho, and has been so for a long time - waiting with savings in hand for to maybe (am not really that keen, but I guess I will at some point) buy a house. I do remember the day, though, when I finally (ah, the good old days) got a credit card offer good enough that coincided with having enough savings to go debt free. Move your credit card to us and we'll pay 5% of the balance. And I did, then paid off the rest. Felt so guilty at my good luck that I took out a current account with them which I still have, so I hope on balance they've done alright out of me.

About £1500 here, on loans for silly band related things. I thought that was insane levels of debt, until I saw this thread.

I don't class my student loan as a debt as I'll never pay the bastard off, I know that. so £0.

Yeah I pretty much consider it an "Actually got an education" tax.

About £3,000, annoyingly. I used my student loan to live on for a bit back in 2002, then the last of it to move to Canterbury. Spent the next couple of years catching up with rent on £4 an hour jobs, and never quite made enough to start paying the student loan back. I'd have opted to pay it off in chunks if I'd stayed in london (I earned just little enough to not be obligated), though.

In fact, my next payday will mark the first time I've ever paid any of it back. If I can keep going at this rate, it'll be paid off in a year or two. More if I throw extra at them, which I probably will. After that, debt can fuck off. I really don't understand overdrafts. If you don't have the money, you don't have the money, damn it. Also why people buy stuff on credit is beyond me. If you can't afford it now, wait. If it's just a huge buy and cash is silly, fair enough, and online shopping, again fair enough. But otherwise, pah, I say. Pah.

Just under £8,000 on credit cards, just over £5,000 on a personal loan, and £80,000 on a mortgage.

Full student loan (3 years)
about 5k across credit cards and OD, that includes my car too though.
I don't regret it, it's let me do stuff with the kids they they are getting too old to do with me know, like the holidays.
Just need to get it all paid off in a little over two years now - watch this space!

Pre-98 undergrad here (same as Dimmers, I'm guessing) so the 7 1/2K I owe the SLC for 4 years undergrad study, I don't have to pay back till I earn 25K a year, so I'm not counting that as a) I'll never earn that in this country or b) 25K is insane money for me, and as long as I'm not living in London, I can pay that off on that wage in 12 months.

13K on credit cards and loan purely from doing my masters degree is whole different story though. It was at 16 1/2K when I started this new job at Man Uni 6 months ago though, so it's being sorted out pretty quick like

Mortgage? Haha, fat chance!!

I'm (very very) nearly 30.

Mortgage, half of 180k . Nothing else. Apart from about 50 quid on my student loan from 1996.

I think including mortgages is skewing your results significantly. Why not include rent, which is sort of what it is?

Apart from the mortgage (£80k) neither I nor Mrs Metal owe anyone anything. Which is nice. I never use my credit card except for stupid transactions with online folks who won't take anything else, and I pay it off immediately when the charges show up online.

I wouldn't even include student loans, as they are the strawberry ice-cream of debts, being that you only have to pay for it when you can afford it, and if you can't then you'll never get into trouble.

And you're not paying interest on it (just inflation), so it won't cost you a penny.

Subtle but important difference feex.

Is that the case? I'm sure the half of my student loan that got flogged off to some other loan company had a 3.5% interest rate, 5 years ago, which is more than inflation was.

The interest rate on my student debt amounts to about £50 a year. On approx 9k

Then I'm doubly glad I paid mine off, the cunts.

aye, they count towards the mortgage, or mine did

I think it fixes the interest rate for the year at the beginning of each year. Any changes in inflation won't be reflected until the next year.

£50 on £9,000 = cunts?!??

My now Mother-in-Law paid my Student Loan of £1500 off for me, when I finished Uni.

Double lucky that at the time I stoodied there were still grants, and to have ace inlaws.

See earlier post - the half of my loan that got sold off had a higher interest rate than that.