Are you a saver or in debt?

Former_MSE_Lee

Are you a saver or in debt?

Poll started 17 Oct 2011, click here to vote

Excluding mortgages and student loans … are you overall in-credit or overdrawn (ie, do you have more money in savings than you have on credit cards or loans)?


Which of these is nearest to your situation?

In debt: over £100,000 more debt than savings
In debt: £25,000 - £100,000 more debt than savings
In debt: £10,000 - £24,999 more debt than savings
In debt: £5, 000 - £9,999 more debt than savings
In debt: £1,000 - £4,999 more debt than savings
In debt: up to £1,000 more debt than savings
Roughly same debt as savings (or neither of both)
Saver: up to £1,000 more savings than debt
Saver: £1,000 - £4,999 more savings than debt
Saver: £5,000 - £9,999 more savings than debt
Saver: £10,000 - £24,999 more savings than debt
Saver: £25,000 - £100,000 more savings than debt
Saver: over £100,000 more savings than debt

Click reply to discuss

Dziga

It'd be interesting to know how this breaks down over age.

166million

I don't owe anything to credit cards or financial companies but I owe a friend some money and I'm not doing any proper savings until that's paid.

torbrex

I have no debt of any kind and the value of my savings pot is being rapidly eroded by inflation.

wannabehermit

I'm a saver at heart, but income levels mean that I can't save enough to even cover emergencies so have necessary debt to pay for said emergencies.

Jennifer_Jane

Dziga wrote: »

It'd be interesting to know how this breaks down over age.

Absolutely. The correlation between older people who have paid off their mortgages and other debts, after decades is very strong.

Coveredinbees!!!!

I put even but that is because all the spare money is going to offsetting the mortgage. Once that is paid off I'm hoping to be able to save

XRAT

If you are going to exclude student and mortgage debt, shouldn't you exclude pensions savings to balance it out?

katejo

XRAT wrote: »

If you are going to exclude student and mortgage debt, shouldn't you exclude pensions savings to balance it out?

I assumed that savings only meant accessible money in banks or building society accounts or shares purchased. I didn't include capital (mortgage free but tied up in my house) or money paid into my pension fund.

SailorSam

I don't think i've any debts. Obviously borrowed in the past for things like a house and cars but anything else i've always waited until i could afford it.

BritRael

Always been a saver.

Or to be more accurate, money has never burnt a hole in my pocket. I've known people over the years who at the end of the month look at their money and say 'what can I spend this on'? They then clean themselves out and can't wait for next month to repeat the exersize. To me, this is a sure way to debt. Personally, I simply pay my bills, and leave whats left over to build up.
I've only ever bought things with my own money (excepting of course my home) i.e. if I couldn't afford it, I didn't buy it with credit. Also, I've never wasted money on the latest 'must have' rubbish.