Do you live with debt?

[superheavyrhun]

I see people's incomes daily and EVERYONE has at least one form of debt (not including mortgage).

Imagine if this country returned to the days of the late 80's where interest rates rose to 16%. All of those credit cards and loans and of course the mortgages would break everyone.

Most of the credit cards etc are already on rates of way above 16%, it's just the balance transfer 0% deals and other discounts that are making them seem artificially low to some.

A one bedroom flat in my area is six times my annual income. I'll need to be promoted another two levels before I will be in a position to even get a mortgage on the most basic and downtrodden apartment in the area, and that's if I can scrape together nearly double my annual wages for a big fat deposit.

I think I'm renting for life.

[Gandalf]

I see people's incomes daily and EVERYONE has at least one form of debt (not including mortgage).

Imagine if this country returned to the days of the late 80's where interest rates rose to 16%. All of those credit cards and loans and of course the mortgages would break everyone.

Most of the credit cards etc are already on rates of way above 16%, it's just the balance transfer 0% deals and other discounts that are making them seem artificially low to some.

A one bedroom flat in my area is six times my annual income. I'll need to be promoted another two levels before I will be in a position to even get a mortgage on the most basic and downtrodden apartment in the area, and that's if I can scrape together nearly double my annual wages for a big fat deposit.

I think I'm renting for life.

The cost of buying or renting is something that really puts me off ever wanting to return back home on any permanent basis. I know for sure I would be in poverty and with debt had I never left the UK. It's a hard place to make ends meet.

My sister pays 700 pounds a month rent, it's no wonder they can never save anything. Mindblowing.

[Munkymagic]

Excluding Mortgage

£3k on credit card and £2300 overdraft across 2 acc's that gets spanked every fookin month

[Doot]

I was 20K+ in debt from age 19-26 years old and never even tried to pay it off but now im 29 and have started paying it off fast.
down to 7k in credit card debt and 3k in a car loan. Once its paid off I will never use a CC again maybe only for booking hotels and things like that. My rent is only $800 and that is a steal for the place I am living, it should really be 2k+/month.

I figure by the end of next year I will be completely debt free. hopefully

[killersheep]

I currently have a mortgage that's remaining at about 75K.

Aside from that I have $2K on a new washer and dryer, I got 18 months same as cash so my money in savings makes me more in interest than I would if was to just pay it off right away. If the shit hits the fan, I can just pay it off from my reserves no problem.

I have a 401K plan that's been going consistent for 10 years now and I have a brokerage account that I'm building for a transition from working life to retirement.