just a question

queenofthedump

i am wondering if anyone knows anyone who is NOT in debt as i am finding more and more and more people who are not necessarily in it like i am but are still in it up to their eyes i even know someone who owes twice as much as me.

So just wondering exactly how common our situation actually is ????/

skintchick

I know a few people with no debt - one is a friend, another my brother but he earns a lot of money, my parents are debt-free as well.

But most people I know of have debt.

lynzpower

I dont know anyone

Although I only know two people who are actively doing something about it, thats me and OH. Everyone else just pays minimum payments on CCs even though they could pay more for example!

briona

marieb wrote:

i am wondering if anyone knows anyone who is NOT in debt as i am finding more and more and more people who are not necessarily in it like i am but are still in it up to their eyes i even know someone who owes twice as much as me.

So just wondering exactly how common our situation actually is ????/

Hi Marie

I do actually know a couple of people who are NOT in debt, but they are few and far between.

I think that the REAL problem is that most people just don't see being in debt as a 'problem' – it's just part of life. You want a holiday? Put it on card? You want a new car? No problem. And so on. We live in a consumerist culture where people simply must have it all now [the hell with the fact you can't afford it!] Until they have their lightbulb moment, they won't start seeing it as a problem. Better to recognise it and deal with it now...

Briona

climbgirl

Yeah, me

I've never been in any real debt, apart from my student loan but that was paid off a year or so after leaving university. I was pretty lucky in that I had parents who taught me about making smart financial decisions and the value of money, from a very early age. I'm starting to realise more and more, just how valuable this was.

I have credit cards, but they're cashback cards and I make them work for me, have never paid a penny of interest on them. They're really good if you can use them wisely!

Sorry if this sounds like a brag, it's not meant to be!

Montymoo_2

i dont think i know anyone!!! All of my friends are still saddled with uni debts even four years after we graduated

The problem is that we are offered too many quick fix solutions by banks etc. I have never been offered any kind of guidance by my bank, i have only been told to take this loan out etc apart from the last time i asked for help when i was told by a member of bank staff to 'get a consolidation loan like the ones you see on the TV', i kid you not.

climbgirl

Montymoo wrote:

The problem is that we are offered too many quick fix solutions by banks etc. I have never been offered any kind of guidance by my bank.

A bank is never going to offer you guidance that will cut your interest and their profits! A bank is a business, not a charitable organisation and they are going to act in their own interests and in the interests of their shareholders.

I don't think they should really offer guidance either, a big conflict of interest going on there! If you need financial guidance, take it from an independent source. I'd take any advice given to me by a bank with a big grain of salt - they're only looking out for their own interests when it boils down to it.

judyjay

:j Hi,
I don't have any debt on credit cards or finance but I do have a 70k mortgage. Not sure whether that counts as a debt as such cos very few people have no mortgage or rent commitments. And it is all in the monthly budget & just affordable.

It's still hard work budgeting & keeping head above water from month to month & I still worry about money, but my saving grace has been finding this web site & re-organising my finances to suit my life style as a single mum of 2.

I have 2 cc's but use 1 for stoozing (save the money to repay it in high interest account) & 1 is a cashback cc which gets paid in full if I do spend on it.(rarely).

I hope I don't sound like I'm boasting, but just wanted to let you know that even with no debt life in the financial jungle is still tough. Good luck to you all in the quest for debt freeness!

Judy x

mintymoneysaver

I know quite a few people who only owe their mortgage, but the only totally debt free people that I know of are my mum and my in laws!

Montymoo_2

climbgirl wrote:

A bank is never going to offer you guidance that will cut your interest and their profits! A bank is a business, not a charitable organisation and they are going to act in their own interests and in the interests of their shareholders.

I don't think they should really offer guidance either, a big conflict of interest going on there! If you need financial guidance, take it from an independent source. I'd take any advice given to me by a bank with a big grain of salt - they're only looking out for their own interests when it boils down to it.

I supposed I dont mean guidance as such. I was very naive when it came to banks and now its all backfired on me

TurnaroundSue

A couple of my friends I know are in debt, but with the others I think it's a case of them being in debt, but don't talk about it and pretend that they are NOT in debt - but maybe I'm wrong and they are not in debt at all (IYSWIM)!!!