Debts & Debt free date

ReportInvestor

Good luck to everyone here working hard to get out of debt . You deserve all the support the site can give.

Just a small query about the debt "signatures". Is it a site convention that people don't include mortgage debt in these signatures?

klare_2

the ommission of my mortgage amount is down to health reasons only.... if i walloped that onto the rest of the figure, I would, without a doubt, have a nervous break down, end up in hospital, have to eat gargantious amounts of chocolate ... it would be a disaster all round so I chosse to deal with our horrible debt and not include mortgage on signature.

Willsnarf1983

ReportInvestor wrote:

Good luck to everyone here working hard to get out of debt . You deserve all the support the site can give.

Just a small query about the debt "signatures". Is it a site convention that people don't include mortgage debt in these signatures?

i spose most people see their mortgage as a debt that is virtually unavoidable whereas pumping money onto credit cards and what not is not unavoidable and normally self inflicted

Will

fairylights_2

I don't include one, because we don't have one. It's rather up to the individual as to whether they see it as a debt to focus on or just accept that for most they have to have one to own their own home.

themaccas

Personally I accept that we'll probably always have a mortgage and I don't mind that. Even though ours is relatively small only 67K. As soon as we're debt free we will move and will be getting a larger mortgage. That's my goal - to move house!

*Sparkle*_3

I think once i'm out of my self inflicted debt i will concentrate on savings and getting down my mortgage but that wont be for a few years yet.

Karma67

I didn't add a mortgage as we are council tenants

BUT if i did have one I don't think I would have included it.

mom23

klare wrote:

the ommission of my mortgage amount is down to health reasons only.... if i walloped that onto the rest of the figure, I would, without a doubt, have a nervous break down, end up in hospital, have to eat gargantious amounts of chocolate ... it would be a disaster all round so I chosse to deal with our horrible debt and not include mortgage on signature.

lol!!! :rotfl: :rotfl: Ditto

My mortgage is 61k and as i need a roof over our heads find this as an unavoidable debt

moongarden

i wouldn't include mortgage as debt because it is secured against the house being an asset - you could possibly include the mortgage interest as debt but the remainder of the repayment (if you are on a repayment mortgage) is simply investing your money in the property. don't forget that over a longer period house prices will go up.

frugglewump

I don't include the mortgage because I don't feel that it is my 'fault' as such.

skintchick

I don't so much think of it as a debt, because it is unavoidable - after all, people don;t add up all teh rent they'll pay over their lifetime and stick that in their sigs! I have more than enough equity to pay it off if I needed, so I don't include it.

BUT once I am debt free I will overpay my mortgage and probably put that figure on my sig.