Age/Debt?

doodledo_2

Spreadsheets aren't nerdy lol I hope not anyway as I have one too.

Think I might start a nice new spangly one for next year as 2008 is going to be the year I become unsecured debt free :j

BWZN93

Ive just noticed how odd it is that there are a lot of us in the 25-27 age range who got into debt as soon as we were legally allowed!

Anyway, Im 27, I got into debt at 18 with my first overdraft. Fortunately I suppose, my debts never got over £5k but Im still working hard to clear them. The credit card will be gone before the end of the new year and then its just a £2k overdraft. I am buying a house in the new year though :eek: . Im moving back in with my mum temporarily so I can save all my wages and find a house as I will be relocating. I should be able to save around 85% of my salary because ill still need to pay for storage and travel costs to and from work. It should mean that as soon as I find the right house ill be able to put in an offer.

Im excited and nervous all at the same time!

Jo x

robotgirl_2

I'm 26, with my own hair, teeth and b00bs

First got into debt at about 20, I had a dorothy perkins storecard with a daft credit limit and a tendency to write cheques the week before payday - neither of these stod me in very good stead when I got made redundant in 2002 by a company that then also refused to pay my last month's wages. It all snowballed from there, really.

Nearly out of it now though... should be debt free in a few more months, so well before my 27th birthday (sooner if I get the shiny new job I have an interview for this week!)

x

lilmissmup

meerkat2007 wrote: »

Thanks for the hug, lilmissmup. Actually, you've done me a huge favour :T Although I had my LBM some time ago, it's been a long haul and I still have a fair way to go. However, thanks to you, I'm now even more focused on getting to debt-free status. It's my 50th birthday in May 2012, so it would be really great to give myself debt-free status for that milestone birthday.

I really hope you achieve that goal or even better beat it!!!

lilmissmup

jw1096 wrote: »

Ive just noticed how odd it is that there are a lot of us in the 25-27 age range who got into debt as soon as we were legally allowed!

Anyway, Im 27, I got into debt at 18 with my first overdraft. Fortunately I suppose, my debts never got over £5k but Im still working hard to clear them.

They need to change the age you can get credit cards/overdrafts to 21 unless your a student in my opinion as an 18 year old is not sensible enough (well i wasn't anyway!) to have a credit card!

Mind you they would lose millions in interest then! :rolleyes:

PasturesNew

lilmissmup wrote: »

They need to change the age you can get credit cards/overdrafts to 21 unless your a student in my opinion as an 18 year old is not sensible enough (well i wasn't anyway!) to have a credit card!

Mind you they would lose millions in interest then! :rolleyes:

It's not an age thing ... perhaps there needs to be a test you sit. And you need a License to obtain debt, like a driving licence!

And then you could get points on your licence too.

Bit like a credit score, but it'd make people more aware of it.

I've no idea how this credit rating thing works out. I've got no debt, no cards, no loans. I always pay cash for everything yet I failed the Virgin credit check to be allowed broadband!

lilmissmup

Well i have failed my driving test 3 times but am a lot better with money now!

Half the reason i am in debt was because i was paying for driving lessons on my credit card :rolleyes:

Last driving lesson a year ago and lots more money now! Not really looking to learn again for ages, public transport much cheaper and OH has a car now too so he can taxi me!!!

EDIT: I have heard if you have no credit its hard to obtain credit as you have no rating so that might be the reason you can't get broadband.

raq

31 as soon as I had my first born. You know couldn't do without, but boy did I learn my lesson. Now 39 and hopefully ( lots of fingers crossed) to clear the debt within 2 1/2 years. £9k.

Numpty_Monkey

I'm 38 first got int debt aged 33 when forced onto monthly pay used credit card to live on, cleared that when made redundant then off work for 3 months.

Thanks to my ex and her money management skills I owed £9000 She must have been a banker in a previous life:rotfl: ???

pixiedust_2

Well, I'm 21, and picked up debts at 18 (car, unpaid mobile bills), but have cleared them... Unfortunately, I'm now at uni - so collecting shiny new debts - but luckily (?) I have no overdraft or CC's, just living on student loan and wages. Trying very hard to stay that way!