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!

Debt V Salary - what's yours?

13567…11

Comments

  • fistfullofdollars
    fistfullofdollars Posts: 205 Forumite
    Me - 32%
    Joint - 13%

    If I added the mortgage......
    Starting debt @ LBM: £8436.51 (8/5/7)
    Barclaycard: £5804.52 (May 07) - 6.9% LOB Now: £5315.25
    Egg: £1640.99 (May 07) - 1.9% May 08 - Now: £1242.69
    [strike]Barclays O/D: £991dr (May 07) - 16.9% - Now: £0.00[/strike]
    Debt August 07 £6557.94
    Aim: To Clear Barclays OD by Nov 2007! Realistic DFD: August 2009
  • Snaggles
    Snaggles Posts: 19,503 Forumite
    southernscouser wrote: »
    Not really. :undecided
    :p:p:p
    southernscouser wrote: »
    It is interesting actually. Makes you wonder why they then allow people to borrow upwards of 150% of your income! :confused:

    I think I work for quite a cautious lender - some are happy to lend a lot more than this. Up until fairly recently, banks only shared negative data (defaults etc), but in the last few years they have begun to share positive data, which includes account limits and balances. So in the past they couldn't tell how much borrowing you already had without asking you for all your statements etc (and it's not feasible to check every customers statements), so it was easier for people to get away with saying 'oh, I only owe Natwest £200', when in fact it was more like £20000.

    Now that banks can see how much people owe though (and bearing in mind the changing financial climate) they are getting more cautious!!
    "I wasn't wrong, I just wasn't right enough."
    :smileyhea
    9780007258925
  • Snaggles
    Snaggles Posts: 19,503 Forumite
    newlywed wrote: »
    Yeah I did ask, but then I found a brain cell lurking in there somewhere ;)

    Cheers. :D
    Oh lol, thank goodness, I thought I was cracking up!
    "I wasn't wrong, I just wasn't right enough."
    :smileyhea
    9780007258925
  • mcardinalblue
    mcardinalblue Posts: 85 Forumite
    fistfullofdollars wrote: »
    Me - 32%
    Joint - 13%

    If I added the mortgage......

    with the mortgage :eek: I wish I hadn't worked it out 621%
    LBM July 2006 debt 1st August 2006
  • yellowmonkey
    yellowmonkey Posts: 7,052 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    Mine is just under the 100% mark

    97% to be exact

    ym
  • newlywed
    newlywed Posts: 8,255 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Snaggles - just noticed your sig - lol. All out of cake today! ;)
    working on clearing the clutterDo I want the stuff or the space?
  • NekoZombie
    NekoZombie Posts: 1,664 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Mine is 34%. I find that pretty depressing, seeing as all of it comprises of a student loan.
    BCSC Member 70:j
    .
  • GeorgeUK
    GeorgeUK Posts: 7,737 Forumite
    At start : 52.6% but now : 33.3%

    Still living with my folks though :(
    Where do single people get houses nowadays??
    After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91

    Dad Gift 6k ¦ Savings & Inv Tst: £2,500
    Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0

    Total Owed: £2,270 (+6k) 11/08/2011
  • Spirit_2
    Spirit_2 Posts: 5,546 Forumite
    1,000 Posts Combo Breaker
    At my LBM the debts were 74% of my salary or 49% of joint salaries. They are now 32% of mine and 22% of joint salaries.

    Although the % are looking more 'affordable' using the Snaggles criteria (thankyou Snaggles) it is still an awful lot of debt.

    This has been a very useful thread as I saw a new kitchen in M&S today and was thinking I might "just do it". You have brought me up sharp and knocked me back into DFW shape. It will have to wait because "I am a DFW and do not have real money for a new kitchen".

    that feels better

    Spirit
  • PeachPickle
    PeachPickle Posts: 9,924 Forumite
    Mine is 56%. Uh. How depressing! Still, when I joined MSE it would have been 131% of my then salary :eek: :eek:
    DFW Nerd #104 I :heartpuls my Kitten :)and my hat :heartpuls
    OD Girls on Tour 08 - Barcelona - HUGE SUCCESS!
    OD Girls on Tour 09 - Dublin - November!!
    If you believe you can achieve innit!
    Sexy beer?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.2K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture