We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
When your savings are more than your credit card balance, can you call yourself debt free?
Ogden
Posts: 32 Forumite
If so, I’m on the home straight!
Nearly debt free
0
Comments
-
It's certainly a milestone when you have a positive net-worth! Well done.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
-
I!!!8217;m not counting house value / mortgage. Just interest free credit card / savingsNearly debt free0
-
You could call it stoozing
I make 5% on my (0%) credit card debt amount.Save 12 k in 2018 challenge member #79
Target 2018: 24k Jan 2018- £560 April £26700 -
If the interest charged on your Credit Card debt is greater than the interest earned on your savings, I'd call it daft, not debt free.0
-
If you have a debt, then you have debt. So you cannot claim to be debt free.
Similar to having 10 percent of your body being covered in spots - you cannot claim to be spot free because 90 percent of your body is spot free."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0 -
poppasmurf_bewdley wrote: »If you have a debt, then you have debt. So you cannot claim to be debt free.
Similar to having 10 percent of your body being covered in spots - you cannot claim to be spot free because 90 percent of your body is spot free.
This is a terrible analogy! :rotfl:
op it's your life, you make the rulesDF as at 30/12/16
Wombling 2026: £25.70
Grocery spend challenge Feb £285.11/£250
GC annual £389.25/£2700
Eating out budget: £ 48.87/£300
Extra cash earned 2026: £1850 -
poppasmurf_bewdley wrote: »If you have a debt, then you have debt. So you cannot claim to be debt free.
Similar to having 10 percent of your body being covered in spots - you cannot claim to be spot free because 90 percent of your body is spot free.
What a truly awful analogy.0 -
There’s no interest charged on my interest free credit card.Nearly debt free0
-
OP I presume your signature is incorrect? As last time checked £105 is less than £1700 :-)Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
-
Yep
You’re not wrongNearly debt free0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards