Do people know about your debt?

Puddylove

Hi all :hello:
I hope your day has been as sunny as mine.

I was wondering if you told your partners, friends, relatives about your debt, and how they reacted?

Sometimes I find I feel rude when I can't afford something, especially as there was never any shortage of money in my close and extended family when growing up.

How do you stay resolute faced with social pressure to spend?

Thanks in advance

Puddylove x

nicnacnoo

Yes, only person i cant tell is my mam.....cannot deal with all the condescending remarks....will tell her in 2 years when its all over!

WantToBeSE

I am not in debt now, but when I was, I told only those who I trusted.

sourcrates

Only the wife (at the time) and best friend, its the elephant in the corner of the room isn't it, the unspoken deed, and yet, I bet there are more people in trouble with money than you would think, but most don't publicise the fact for obvious reasons, makes me cringe when your stood in line at the supermarket checkout and the person in front of you opens there wallet or purse to reveal a large range of credit cards that would ease the national debt !!!

solvencyseeker

I just can't tell my parents the true extent of our debt. They have helped us out when times were really tough (i.e. I'd used up loans, credit card and overdraft first) but I couldn't burden them with this problem. Not only because they are getting on in life (late 70's) but also because they have always been so careful with money. We got ourselves into this mess and need to get ourselves out of it.

I also haven't told all of our friends. I have a good friend who has been through some tough times and is still on her DMP. Others just don't talk about money, so I don't either.

I talk to my OH and our sons know that things are difficult (but I don't burden them with the full details). When one asked what I'm doing with the money from eBay sales I said - paying off my debts. I think he was hoping to see some of the profit -while he may not get the money in his pocket right now, he will benefit in the long run.

Defenitely a bit of taboo subject, best to be careful who you confide in (for their sake as much as your own).

DD265

I'm quite open about it.

To be fair I often refer to it as student debt so I can avoid sounding like a total idiot with money, but for those I trust I've explained a bit more.

I think the reason that I'm in such a mess is because the openness about money/debt just wasn't there so I try not to continue that chain. I have actually been able to help a few other people - one person didn't know about 0% balance transfer credit cards for example. When I have children of my own I plan to make sure that they are money savvy! Yeah sure they can make mistakes but I'd rather educated mistakes than stupid mistakes like me :rotfl:

excited_to_be_free

No one! I am quite a private person really, which is a contrast because I am the chatty bubbly one! But my private life remains that!

daydream_believer_2

Broke down and told hubby, we then confided in parents, as I was struggling a bit with the whole thing (close to a breakdown!).

One very close friend knows we have problems, but doesn't know figures. A couple of other close friends know money is tight, but again, not to what extent, but know that if I say I prefer a night in with a bottle of wine to a meal out, they understand why.

Tommy81

My parents know that we owe some money and other members of my close family and friends know that we have some debt but We never discuss figures of amounts!!


I don't feel bad about not sharing the fine details as I see it as being personal and not really anyone else's business!! If anyone ever asked me the amount I would just make up a figure that I was happy to share!! My debt, my business


Of course, I didn't mind sharing it with you guys though

sexyshark

nicnacnoo wrote: »

Yes, only person i cant tell is my mam.....cannot deal with all the condescending remarks....will tell her in 2 years when its all over!

same here all of my close friends know but my family are blissfully unaware and that is how it will stay

Scritti

I quite openly revealed the extent of my debt to anyone who cared to listen.

This led to some great advice from friends and workmates and, eventually, led me to this site which has changed my life.

Now people come to me for advice as they know I had problems and sorted them out so have now told quite a few people all about 0% balance transfers etc and always passionately advise they use this site and check out the forums for shedloads of great advice.