Do you owe more than you earn? Poll discussion/results

24

Comments

  • paulj2001
    paulj2001 Posts: 11 Forumite
    Photogenic First Anniversary Combo Breaker
    My initial reaction on seeing the vote result chart was that it appears people aren't in as much debt as is commonly thought - if they're being completely honest of course! One of the posters on this thread describes themselves as being 'out of debt by December 1st'; this is great but then they go on to say APART 'from a car loan, which I see as a necessary loan'; surely, a lot of people regard their debts as 'necessary' but is that an excuse not to count it?

    :confused:
    Paul
  • Keeping_Positive
    Keeping_Positive Posts: 4,750 Forumite
    First Post First Anniversary Combo Breaker PPI Party Pooper
    Scarily close to 100%
    :j
    May 2013 new beginnings:j
  • skoda38
    skoda38 Posts: 53 Forumite
    hi,

    what % of dept would you consider to be a problem

    were on dept 31% )
    savings 14% ) of income
    mortgage 106% )


    beerchug.gif
  • Gordon_the_Moron
    Gordon_the_Moron Posts: 1,472 Forumite
    First Anniversary Combo Breaker First Post
    Not sure what to vote, I owe about £7k to credit card companies at 0% but I've got more than that in savings, I live with my parents so I have no mortgage or other loans. To me that is debt free but technically the money I owe the card companies is still debt, even though it is good debt.
    If you don't like what I say slap me around with a large trout and PM me to tell me why.

    If you do like it please hit the thanks button.
  • economiser
    economiser Posts: 897 Forumite
    Why no choice of "no debt of any kind"? We don't all have mortgages.
  • klint
    klint Posts: 265 Forumite
    First Anniversary Combo Breaker
    Are we supposed to use gross income or net of tax & NI contributions?

    If gross, why? The only thing that matters is how much you get into your bank account that you can actually spend.

    Can we have clearer voting instructions please.
  • Mark7799
    Mark7799 Posts: 4,803 Forumite
    First Post First Anniversary Combo Breaker
    Apart from mortgage, no debt more than a month old
    Gwlad heb iaith, gwlad heb galon
  • BlakesHeaven
    BlakesHeaven Posts: 3 Newbie
    First Anniversary Combo Breaker
    Paid of mortgage and got no debt. My principle is, if i can't justify spending the dosh I don't get it and if i think it's over priced I'll wait.
    Credit cards are only used for internet purchases and petrol; but always paid in full each month.
    It wasn't always like this; everthing was at it's limit & 2 weeks until payday. That was 15 years ago. It is possible to sort it out and avoid debt. Good luck everyone.
  • smartcat04
    smartcat04 Posts: 623 Forumite
    First Post First Anniversary
    Owe 63% of my income. Figure a lot higher than I thought It would be but but seeing it as a percentage gives me a bit more incentive to get it down.
    April £5 a day challenge- £15.05/£150
  • thedayfamily
    thedayfamily Posts: 5 Forumite
    I was surprised to see that the highest percentage had no debt. Sadly, I think this is because the poll is just moneysavingexpert.com visiters. I'm afraid if you polled the whole country it would show more people in debt. Like a previous comment, I couldn't (and often didn't!) sleep at night thinking about debt, but I cleared a few thousand a few years ago now and have been debt free (apart from mortgage) for the last 5 years. I wish everyone would see what a heavy chain it is around their necks and change their life styles to get rid of it!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards