How much debt do you have?

None


Got myself into debt about 15 years ago that put me into a bad way with worry & stress and now am afraid to even get a simple car loan out


And them loans i had were all for mainly stupid things

cars (A £4000 Escort RS turbo S1 was one of them :p )
sportbikes
speedboats
hifi's
High end car stereos & amps
etc etc
 
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It's interesting to see everyone dismissing the student loans, I'm sure when I spoke to them this year (rate changes every sept) it was 4.4%. So it's hardly a small amount on the interest front or is that just me?

Mine are almost paid off, another year or so I reckon. Bar that, zero debt.
 
chaparral said:
None


Got myself into debt about 15 years ago that put me into a bad way with worry & stress and now am afraid to even get a simple car loan out


And them loans i had were all for mainly stupid things

cars (A £4000 Escort RS turbo S1 was one of them :p )
sportbikes
speedboats
hifi's
High end car stereos & amps
etc etc
Click to expand...

S1 meh lol. I had a H plate mk4 erst merc grey.

17s momo arrows
Coilovers
4 pots front and back by hi spec
240bhp at the wheels.
5th injector
T4 hybrid turbo
3 inch exhaust straight thru.
10 auotmeter gauges
High and low boost.

It used to boost to 38psi and hold 34 all day long.


It had a Power Engineering 1.9 block and stage 3 head.

It used to be gutless unless 4400rpm then from then OMG all hell was unleashed. It developed sooooooo much torque. But the big turbo was so god dam laggy :(
 
Aside from my 9k student loan deal, which I started paying back in 2004 I owe nothing and saved up £4.5k since Feb and for me who used to leak money on cars, beer, and computer parts is a massive achievement. I am aiming for £7k by end of Nov.

It's funny how 9 months on the dole totally changes your outlook on life and money.

Oh and never had or got a credit card. May need one for internet security though, but I trust myself now as I have grown up a bit.
 
I'm really surprised/pleased that so many people are saying none!

I owe 12k on my car, but I reckon it's worth 15k, so that surely doesn't count. Other than that I'm in the none category too.
 
BringTheRain said:
S1 meh lol. I had a H plate mk4 erst merc grey.

17s momo arrows
Coilovers
4 pots front and back by hi spec
240bhp at the wheels.
5th injector
T4 hybrid turbo
3 inch exhaust straight thru.
10 auotmeter gauges
High and low boost.

It used to boost to 38psi and hold 34 all day long.


It had a Power Engineering 1.9 block and stage 3 head.

It used to be gutless unless 4400rpm then from then OMG all hell was unleashed. It developed sooooooo much torque. But the big turbo was so god dam laggy :(
Click to expand...
Loved my RS turbo....Clocked up about 45,000miles in 2 years



(:o Did that mileage in an island that only 7 miles long :o )

I also chipped mine and think i had a turn dial to control how much boost i wanted..
and i also fitted a 3 inch straight thru exhaust with 4" tail pipe..
& lower Coilover Kit
 
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chaparral said:
Loved my RS turbo....Clocked up about 45,000miles in 2 years



(:o Did that mileage in an island that only 7 miles long :o )

I also chipped mine and think i had a turn dial to control how much boost i wanted..
and i also fitted a 3 inch straight thru exhaust with 4" tail pipe..
& lower Coilover Kit
Click to expand...

That IS a lot of mileage. Was it a mongoose exhaust. They sounded awesome xD
 
No debt whatsoever. Trouble is I can only scrape just over 11k in savings and the like and only increasing that a slow rate.

Feels like I'm just treading water, if I'm honest. :(
 
Currently about £1,800 on the credit card, bought a lot in the last few months that I wouldn't normally buy so stuck it all on there to spread the cost a little bit - will be paid off in 2 months.

Oh and a few hundred quid on my overdraft as I've just bought my first car and insurance companies are gits and it tipped me over the edge and into the red... but I didn't want to wait until pay day and didn't want to put even more on the CC!
 
BringTheRain said:
Used to buy rounds of drinks with it as well. God I was popular lol.

I do have some great memories but I am paying for it now. But then I did have a wild 17-22. without loans and such. It never would have happened.

I accept its my fault. Nobody forced me to spend the money. And I know in 2 years time I will think WOW!!

And yes I probably have laid more than you :p I think I was up to 40 ish by the time I hit 19. My best mate Simon lost his cherry
At 20 and I remember us having a party as I hit 50 as well lol.

Haha
Click to expand...

To be fair, I am impressed sir.

On the plus side I have no debt currently (well I have 1.2k student loan which will be 3.9k when I graduate) but I currently have around that saved. Going to lose all savings when I move out in 3 weeks no doubt.

If I graduate with a 2:1 or above in engineering I'm pretty sure ~5k in loans wont be much in the grand scheme of things (woop woop free tuition fees in Scotland)
 
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About 2k on the credit cards, am between jobs atm so need to use them to cover bills. Should get that paid down in a month or two once working again.
 
£3.5k on cards (interest free until Oct, then I'll use some savings to clear them), £67k on mortgage.

I ran up debts of over £80k by being silly. 'Got away' with it by piling £60k onto the mortgage (which was £40k to start with). Then I saw the precipice and panicked. :o

I've since been very lucky with a £21k shares windfall (£14k after tax) and a mostly stable well-paying job to give me the funds I need to pay down the debt. I really don't know what I'd have done without those (probably Bankruptcy and mortgage default).

I'm still spending too much, but I've seen what too much debt looks like and won't go there again out of choice. Paying off nearly £50k feels good even if I still have £70k to go. Facing redundancy taught me a few hard lessons too.
 
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Never had a credit card, paid the car off last year which was about £8k since 2004 (£150 p/m) and didn't go to Uni.

Apart from the usual monthly debits (phone, internet etc) i've not got anything hanging over me, thankfully. Will be moving into a flat with my Fiancee in a couple of months time so maybe there'll be a couple of sofas that we'll be paying off for a few years soon :)
 
7K on 12 months interest free, which I'll pay off in a couple of months. I hate debt, but sometimes it's a convenient and necessary evil.
 
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