Are most people in debt to there eye balls?

Legacy_user

I'm just curious, I've posted my income and outgoing before so I wont go through that again, but I am comparing myself to my work colleagues, We are not big earners, well at least i'm not, £15K per year before tax and I'm sure my workmates aren't much better, but yet they manage to have here holidays each year, sometimes several times per year, they all have mortgages etc, they don't have to shop in Lidl or the likes, they appear to have a pretty decent life, While us on the other hand have finally after being together 8 years have managed to get money gathered up for our first holiday which is 2 nights in a B&B 20 mile down the road in the summer:rolleyes: Compare that to a work colleague who is going for a tour around the far east, which that is just 1 of his holidays this year.:eek: So I have come to the conclusion that there are 3 scenarios

A - People are heavily in debt
B - There partners are the big earners
C - Doing something dodgy.

We have a combined income of around £17-18K Before tax, there is no way that can pay a mortgage, and have several holidays and luxuries per year, as I say this is just based entirely on my work colleagues.

rictus123

Sorry if im being harsh but if your not earning enough to be happy, try and do all you can now to increase your income as much as you can to get the income you desire(withn reason, not everyone can be a millionare but whos to say you cant?!)

dib-dab

Well all I can say is that maybe people looked at me like that - nice holidays, nice house nice car, big wedding, expensive honeymoon. And I fall into category A :-)
I think that some people genuinely are very careful - I have who have very little debt or are debt free but earn similar to me. My husband and I have always spent first and thought about it later. And now it is coming back to haunt us as for the first time in our lives we are having to say no to all the nice things. Just when everyone else has got themselves into a position where they can afford them!
So don't worry too much about your colleagues, they are either in debt and will regret it very much later or their circumstances mean that they can afford it in which case good for them. I know how hard it is seeing everyone around you seeming to have a great life but more often than not it won't be that great. I certainly worried all the way through my nice holidays about the bar bill at the end of it or how we were going to pay for it afterwards! So not that enjoyable after all. I can't wait for my first holiday that I have saved for - a long way away yet but it will happen!

milliemonster

Some are some aren't, I don't think its that easy to judge really and not sure why you are concerned with other people anyway????

I sometimes shop at Lidl and sometimes not, will go to tesco/asda instead and tbh it makes no difference to what I spend in there! so I don't think you can assume that someone who isn't on a great wage and doesn't shop at Lidl will be in debt up to their eyeballs!

Some people are very lucky, my best friend has a large 4 bed detached house worth £250k and has no mortgage and doesn't work, never has had, she lost her mum 10 years ago and managed to buy this house outright with her inheritance (so not that lucky that she lost her mum!) so her outgoings are low anyway.

We bought our first house 13 years ago on a combined wage of yours, granted with house prices as they are today its more difficult!

Your work partners may have partners who earn a lot, they may be heavily in debt, they may have been helped out by family to buy their houses/have holidays etc, but you just have to concentrate on yourselves and not worry too much about what others do

BeautyandtheBeast_3

look at my signature - was doing very well until october then something happened (death) and my credit card bill had to shot up by £1700. I didnt have the cash needed hence it went on the CC - its a vicous circle which is hard to stop!

SkintGypsy

Don't compare yourself to others. It will never make you happy.

You don't know how much debt they are in, or whether they have a rich family/partner funding their lifestyle. They might have inherited money, but lost a loved one.

You have to learn to be happy with what you have, or take steps to change things yourself.

Gypsy

hostie1985

some people are just very good with the money they have and may have different priorities to you, maybe your collegues have partners that earn alot more - so they probaly can go away a few times a year? alongs, at the end of the day, you are happy then thats all that really matters.

hostie

xx

Gr3yPilgrim

I know someone who seemed to be doing ok on the surface - two car family (nice cars, too), nice house, regularish holidays, dressed well, often out on the razz.

He got a couple of grand when a relative died and I found out he put the money in the attic instead of the bank. Turns out he was in so much grief with CC companies and finances in general, his bank would have swallowed the entire inheritance just to pay off his debts.

"Beware of debt masquerading as wealth"

jenny+luke

hi, i wouldnt worry about other people. i dont work as feel its more important to raise my children. my dh works and earns 24k ish. this is enough to cover our mortgage, bills, debts (see below) and 2-3 hols a yr. we have 1 big family hol abroad, a week in a holdiday park and go away for our wedding anniversary. my hubby use to spend his wages the wk he got paid until i took over, lol.
i do think u can afford hols/mortgage if ur careful with ur money, might be worth writing down a soa to see where ur money goes.
most people privately renting can afford a mortgage.
enjoy ur break away.

MessyMare

nirelandguy- did you not basically start the exact same thread a few months ago?

My family have nice things (parents, that is). Any debt there is, is carefully managed and loans taken out are weighed carefully against the cost of withdrawing savings early; then the cheapest option is managed. Every member of the family bar my father keeps an eagle eye on internet banking and knows all the dates when each direct debit goes out. Because my parents manage their money carefully and shop around, they can afford the BMW and newish Fiesta, the home improvements and the treats. However, I got myself into debt age 18-21...and I got myself out of it. I sold stuff and managed everything carefully. Now all my nice things are bought from my £10k a year wages. You can't see the things I'll go without to go on holiday, but at least I'm not paying for it all on credit now

System

ColleenPamela wrote: »

nirelandguy- did you not basically start the exact same thread a few months ago?

My family have nice things (parents, that is). Any debt there is, is carefully managed and loans taken out are weighed carefully against the cost of withdrawing savings early; then the cheapest option is managed. Every member of the family bar my father keeps an eagle eye on internet banking and knows all the dates when each direct debit goes out. Because my parents manage their money carefully and shop around, they can afford the BMW and newish Fiesta, the home improvements and the treats. However, I got myself into debt age 18-21...and I got myself out of it. I sold stuff and managed everything carefully. Now all my nice things are bought from my £10k a year wages. You can't see the things I'll go without to go on holiday, but at least I'm not paying for it all on credit now

I think I started one about people on benefits living the dream, it was just a general observation, But in 2010 I am going to tighten the strings around here, just to see what is possible, I'm gonna try it for a year, and hopefully surprise myself.