Do your friends think you are daft for trying to pay off your debts?

John_G_Jones

No. Most of my friends work in Finance and so like me have a relatively strong aversion to being in debt.

Those that have a mortgage tend to want to get it paid down and even those who think that they may as well take advantage of the low rates and invest instead of repaying tend to worry a bit about the exposure that they have on.

This is an important point, I think; people who are the best informed about finance tend to have as little debt as they can manage. People who,understand the subject poorly tend to have far higher levels of debt relative to their earnings. That should make people who happily rack up debts for Christmas, holidays or clothes have a bit of a think about what they are doing.