thanks!

vodkabarbie

...for all the advice and encouragement you've all given me!
I'm getting there with nurturing my lightbulb into a bit more brightness - this board is really inspiring, checking on here is much more productive than surfing eBay

Just a quickie - I notice a lot of you roll your mortgage into your debt. I've not really counted as
a) it's split between me and my fiance
and
b) it's not a "problem" debt like the others - it's managed and if I can clear my other debts I may even be able to overpay (one of the reasons I want to clear them....)

do you guys think I should include it though?

Dumbledore55

Well done on what you've done so far.

I keep mine separate because when I've become Debt Free, I'm going to join the Mortgage Free Wannabees!

msArcher

I do - it may not be a problem debt, it may even be good(!) debt - but I still want to get rid of it. Doesn't help that I know some of it wasn't for the house...

You could list it as a separate debt - if you are wanting to rid yourself of that too!

Everest

When I think about how much I owe at a particular point in time, I cannot help but include my mortgage, as it is money I owe and therefore a debt. But when considering its repayment, surely the most important thing for consideration, I split all debt into different pools:

1) That which I must repay now (ie. min payments on credit cards, morgage interest etc)

2) That which is the most expensive debt

In each of these lists a hierarchy is created which dictates what is and what isn't the most pressing. I then set my mind to solving each element of debt in the appropriate order.

carriel_2

I dont actually view my mortgage as a debt, maybe I'm wrong in this, but I look at it more as an investment into a property.

I will be joining the mortgage free wannabees when our debt is clear though.

bobbadog

I wouldnt see it as a debt to be counted here, as it's effectively an asset (the property) - i live in a rented house, so i don't even have that!

Imelda

I don't consider my mortgage in the same way as other debt because:
1. It scares the bejeezus out of me!
2. I don't see my property as an investment I see it as a home, if I hadn't bought my flat I would be renting somewhere similar. I see the mortgage as me paying for all my rent in advance, of course property prices can go down but rents generally tend to go up and you never know when you might be evicted.
3. The mortgage I have is not very flexible and so I can't overpay anymore than I do without penalty, therefore I am saving to pay off my credit card AND to lop a chunk off the mortgage when I remortgage next year (see sig)

I am going to tackle paying it off though as soon as I am debt free, at the moment my credit card is my main focus, as I see it as a more tax efficient way of saving.

lazy&indebt

I wouldn't include it personally (i rent unfortunately)

I'd concentrate on other debts first and once that's done, start tackling your mortgage and of course, join the mortgage free wannabes! Thing is, once you've cleared debt then it's cool etc because you are just enjoying your salary but if you could clear your mortgage - you'd never have to worry about cash again ever!

LookingAhead

I don't include mine. Yes technically it is a "debt" but hey, we all have to live somewhere and we pay mortgage or rent....I see it as a general outgoing, to be reduced when & if it can be.

My debts are things like loans & Credit Cards & overdrafts.

Just my tuppence worth there.

frugglewump

Well I don't include it (see sig)

As long as you don't get into arrears it's not a problem debt.
When I hit my DFD date - then I'll think about the mortgage. (That gives me 3 years to convert my OH to DFD ways)

Besides I can cope with £8.5k - if my sig said £177.5k I'd go all wobbly.