How much in debt are you

Mad_maxx

Mr.S wrote: »

2-3k on a credit card every month but that's cleared in full with each bill, apart form that - nada.

Then you have zero debt, owning a credit card isn't debt if you are clearing each month

Mad_maxx

randomspud wrote: »

Got the mortgage cleared earlier this year and i have literally never borrowed money for anything else in my life.


Being in debt is a mugs game.

Debt is a key component of building wealth

stefanovich

Deleted User wrote: »

I never willingly enter into debt.

Learning to use debt and spend other people's money is an art.

jaxxx

I owe about 3 fiddy.

tayto lover

Mortgage paid 10 years ago.
Only about 5K left on the Credit Union loans for putting 6 kids through university to degree and masters level. No grants given for any of them either.

Anything I have left is for me and Mrs Tayto now. A few holidays to make up for what we didn’t get when we were scrimping.
Was never on the dole and never a day off work sick either.
I intend to enjoy my last few years and see a bit of the world if my health holds up.
The children can have the house when we’re gone. I’m spending the rest, not that it’s much.

JohnCleary

listermint wrote: »

Why put 3k on a credit card and then clear it ?

Intrigued

Security. If there's any issues (ie. fraudulent transactions) it's the banks problem, as it's their money.

stefanovich

JohnCleary wrote: »

Security. If there's any issues (ie. fraudulent transactions) it's the banks problem, as it's their money.

Plus, you have access to funds between paychecks and don't need to touch savings. Good for credit rating.

BDI

All my tax each year pays srameens wages. So disheartening.

All he does is plant trees and he should have retired 14 years ago.

elperello

Deleted User wrote: »

120k here, so 80k is pennies.

I like your approach

Some anonymous guy on the internet says his income is 80k and provokes outrage.

ytpe2r5bxkn0c1

joejoggs wrote: »

How much in debt are you and your current income. Would be interesting to see. Not taking mortgages into account.

This is it wrote: »

The question of debt was asked but once again Srameen managed to wedge his income in there as well. Nothing new

What bit of the question is beyond your comprehension?

ytpe2r5bxkn0c1

BDI wrote: »

All my tax each year pays srameens wages. So disheartening.

All he does is plant trees and he should have retired 14 years ago.

:D None of your taxes pays my wages. I retired over 21 years ago on my own private pension. I don't even draw the State pension or household package.

padd b1975

200 and 290 on a home improvement loan and car finance, both being serviced by rent a room income.

Rental income surplus goes towards overpaying my mortgage.


God bless you rent crisis.

The chan chan man

€230,000 left on my mortgage
€4,000 left on my wedding
€10,000 left between my and my wife’s cars

The heir to the overdraft as I call my son...

JohnnyFlash

1.3 million in mortgages on a few apartments. Nothing wrong with borrowing money if it’s being used to buy an asset that is increasing in value. Some people are far too cautious about debt, and invariably end up making really terrible financial decisions as a result.

Mad_maxx

JohnnyFlash wrote: »

1.3 million in mortgages on a few apartments. Nothing wrong with borrowing money if it’s being used to buy an asset that is increasing in value. Some people are far too cautious about debt, and invariably end up making really terrible financial decisions as a result.

Very true, sounds like you own more than just " a few" apartments?

elperello

Charles Dickens had it right long before our time.

Mr Micawber's famous, and oft-quoted, recipe for happiness:

"Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery."

Raconteuse

Just mortgage.

NSAman

Apart from mortgages, cars (one paid off this month) not a cent.

Supercell

No debts, 160k'ish left on my mortgage which I'm hoping to pay off by the time my eldest reaches college age. Pretty frugal overall, drive an 07 car with zero intention of selling it until it cannot be insured or it dies, whichever comes first. Put a little bit into stock portfolio every month. Not rich by any means but dont want the stress many high paying jobs bring either. Being in debt is a lifestyle choice I think for many.

Greyfox

1k left on my card and 2k left on a loan. Getting into debt is so so easy but I've learnt the cost of paying it back, never again I hope as I've wasted so much money over the last 10 years.

Sugar Free

Zero debt at the moment. Prior to saving for a mortgage I put a lot into stock and index funds, specific tax-deductible government approved investment fund* and company stock (at a 25% discount).

The last 6 months and next 8 or so I've had to build up my cash pile for the deposit instead. So all investments save for my pension and tax-deductible investment fund have been halted.



* I don't live in Ireland

20Wheel

tayto lover wrote: »

Was never on the dole and never a day off work sick either.

Here, have a tiny medal.

LimeFruitGum

Other than the mortgage, I have been debt free for years. I got rid of the credit card a few years ago, once I could clear the balance after a nice tax rebate came through. I only got a credit card because I was traveling and using your own bank card abroad was still very hit-and-miss at the time.

I have never been one for always tapping mates for a tenner or whatever; feels a bit scabby. I took a small business loan years ago when I was self-employed, but I wouldn’t see the point of taking out a loan to buy presents or something that would not give you a return on that loan amount.

Sheep Shagger

New mortage as we moved from.a 2 bed apartment to s 4 bed house a few months back.

Normally have a couple of hundred euros on the credit card each month but is cleared in full each month.

Need to sit down and go through xmas spends as it's a bit higher than normal but on track to clear everything with this months pay and we are pretty much done present wise.

Luckily both of us think the same way re money and dont like debt except for the mortgage.

Wife paid off a new iPhone with Argos 6 months interest free (why use your own money when you can use someone elses) but don't normally do HPs, small loans for holidays, car etc.

An conscious we are fortunate enough to be in this position, is very very easy to get into (non mortgage) debt though.

CivilCybil

6k other than mortgage. Was on 26k a year and recently moved to 33k so hopefully will use the extra to repay the debt in 2020 and start building some savings.

Have been a single parent for a long time and sometimes debt has been necessary just to keep going.

Salary Negotiator

Just under €180K on the mortgage and €35K on a car loan.

The car loan is higher than I’d like but it’s an EV and if I’ve done the calculations right the fuel savings will match the depreciation over the next few years.

DelBoy Trotter

None thankfully. I had a car long for about 10 years that I kept topping up and changing car with, but cleared that about 5 years ago and haven’t had any debt since

SafeSurfer

€1,333 on one term loan, €8,567 on another, €6,442 on another, €51,000 on another, about €8,500 on one credit card and €6,000 on another. Apart from those and the mortgage, completely debt free.

gmisk

No debt...bar mortgage

The J Stands for Jay

Ignoring the mortgage, nothing. I pay for my cars in cash. What other things are people using debt for?