We're not on our own

Mrs_Sparkle

GreyPilgrim wrote:

Gotcha.

I did think that I was the only one (or one of a tiny minority) who was in serious debt, and that everyone else in the world was pretty mature and sensible and organised with money. Finding this site woke me up to the fact it's more common than one might think. It also made me more aware of news articles about the general financial health of the rest of the country, so I started to take notice more, and to pay more attention to how destructive the "buy now, pay later" trend in marketing really is.

Same here- my awareness has definitely improved. I think livinginhope makes a valid point too about plenty more people being in denial about substantial credit cards. I used to think I was in a tiny minority too but it really is so common now. It would be interesting to know how many % of the population owe say £5K and over.

Dolly_Smith

it is sometimes in proportion to what you earn though. My boss is an extremely high earner (i.e. £120k) and her debt is exactly the same proportion of her salary as my debt is to mine

I nearly had a heart attack when she told me what her debt was but she earns £6k a month so it's not as much to her

vivaladiva

We keep getting official figure of what the average level of debt is in the UK .(I forget what the last figure was but it was less than mine:eek: .)

From reading this board and what a has been posted above - I wonder how true this figure is?:rolleyes:

richardvc

There are thousands of people in the same boat as us but we are the lucky ones as we are now confronting it.

Without sounding stupid, my debt has been the making of me !! I finally got my life organised and stopped behaving like a little boy (I'm over 40!!).

Now I am the most organised and together person I know (apart from my other half) and like everything to be 'just so'.

This ranges from my money, the way that I am dealing with my debts (almost obsessively) and the way I go about my life which is planned, purposeful and now budgeted for !! I have gone from owing £36k to just under £10k and just wish I had grown up sooner.

The irony was that I was the most organised person at work, yet at home was a disaster area !! I feel that I have learned my lesson and am on the way back.

Judging by the many posts that state as much, the lightbulb moment has a real effect on people's lives for the better.

o_Looby_o

A large proportion of my friends have large amounts of debt and they are under 25 years old - Ive pointed a few towards this website to try and help them.

I myself have under 4k worth of debt now and this place has motivated me to get rid of that quickly and efficently. However my friends who have A LOT more debt than me (one having + 25k at the age of 22) just don't seem bothered by it.. That I don't understand.

This forum should be compulsory viewing for anyone in that situation I reckon. Agreed!

richardvc

o_Looby_o wrote:

A large proportion of my friends have large amounts of debt and they are under 25 years old - Ive pointed a few towards this website to try and help them.

I myself have under 4k worth of debt now and this place has motivated me to get rid of that quickly and efficently. However my friends who have A LOT more debt than me (one having + 25k at the age of 22) just don't seem bothered by it.. That I don't understand.

This forum should be compulsory viewing for anyone in that situation I reckon. Agreed!

I think that inwardly they are bothered about it but just won't admit it publicly. Let's be honest, most of us had our head in the sand before confronting the monster that is serious debt.

Ps What have they spent it on ? Mine was keeping the roof over my head during some very difficult times.

o_Looby_o

richardvc wrote:

I think that inwardly they are bothered about it but just won't admit it publicly. Let's be honest, most of us had our head in the sand before confronting the monster that is serious debt.

I agree. Which is why I point them to this website, in hope that they will realise its nothing to be ashamed of.

They have not taken the bait yet though!

Kevicho

Mrs_Sparkle wrote:

I am constantly amazed at how many people are in serious debt. Today I heard that a member of my team is £30K in debt- and he's not a high earner. The person who told me of the debt (his line manager who works for me) then told me she also owes around that figure. So I told her my figure too of course. It's really scary just how widespread this is. I really hope that we can reduce the stigma of having substantial debt and work towards positive solutions and not shamefully hiding away.

This forum should be compulsory viewing for anyone in that situation I reckon.

I hope you lot are not financial advisors

James&Shell

Hi Mrs Sparkle & Gang,

Just wanted to say that i wa £28.000 in debt at the age of 22 tried to pay it off etc and went through payplan and the creditors haeled and haeled me.

In the end we knew if this debt carried on we wouldnt of been able to move in toghether and have our wonderfull son.

In the end it took a long time to decide to go bankrupt it wast a easy option.

we still have the debts below in shells name and his is managable each month.

Its too scary specially in my case when the banks dont help and give you more and more.

Ill never borow on a card or loan again !!

Mrs_Sparkle

Kevicho wrote:

I hope you lot are not financial advisors

God no! But I do manage substantial budgets as part of my job