TelBoy

For the first time.

Ok, who's got a mahoosive credit card bill they're sweeping under the carpet?!

Scoobychick

iTrader: (1)

Ssssh...

Damn...

davyboy

Did this 17k per person not include a mortgage though?

Ringpeas

Its only 17 grand each

What are you worrying about

JDM

I'm doing my bit for the national debt, when it all goes **** up I'll take the money I've been hiving away and sod off to somewhere sunny.

Ringpeas

That's what I heard

JoeyDeacon

It does indeed, although that is £17K for every man woman and child in the country.

TelBoy

Yep, that's correct, mortgages are included. But it's £55k per household, and don't forget, there are SEVEN times more NON-mortgage owners than mortgage owners, on a purely arithmetical basis, so somebody somewhere has still been racking up the expenditure!

Ringpeas

Yes, but more young people are buying now, rather than renting.

angrynorth

Damn, I'm going to whinge on 2 threads today. But...

You are only in debt if you can't afford to pay it back. This is yet another example of scare tactics put in place by our totalitarian government. 17 grand? FFS, including mortgage! That is just funny. Even at 55k per household, with average UK house prices around £120k then that is quite a good figure really. Especially when you take into consideration that young people are taking out £100k + on mortgages!

A mortgage is not a debt in the sense that its a bad thing to have, sure its nice if you don't need one, but its only a bad thing if you cant afford to pay it.

davegtt

17k is bugger all but as said its spread out overall, wish I only had 17k have a nice little 2k loan thats ticking over and a massivly over spent credit card that Im gonna have to swap over to another 0% card this month...lol its sitting about £50 short of 5k at the mo wanna get it outta the way though by the end of the year clearing off any uneeded bills for a couple of years time ready for this interest rate hike

Senior_AP

Its a borrow borrow borrow culture. If you turn on your TV all you see is Credit Card adverts, re-mortgage adverts and debt consolidation.

Its sad.

JDM

Does it really matter it's all imaginary money anyway.

If push comes to shove when the house of cards collapses I'll be away with my offshore funds as I said before. It pays to have an escape planned, James Bond baddie style!

Senior_AP

You've backup - fair play. I know a guy who permanently lives in debt, impulse buys, the works.

He even had to ring up SKy TV to get a replacement remote control for Sky Digital cos he wore out the red button!!

SomeDude

All these people should stop spending money, that will be good for the economy

ProperCharlie

personally, i don't agree with the levels of debt that are being accumulated. i have a mortgage but no other debts. i only buy something on a credit card if i know i will have enough money to clear it off in full at the end of the month. if people want to fund high street bank's profits - then i suppose that's down to them.

however it wouldn't hurt people to consider if they *really* need to go out and buy another WS tv, or whatever. it's always the people on the lowest incomes that suffer the most. they see most of their incomes disappear into debt repayments, then burrow more and more money on longer and longer (ie more expensive) terms to try and get themselves out of the hole. i've seen it many times.

Nicci

I am not contributing to the household debt (and don't ever want to own a credit card).

I have some money out of a monopoly set if anyone needs it.

juicy1

Personally i absolutely *hate* being in debt but in my circumstances it was unavoidable. I have CC, overdraft but no loans or mortgage. I can't understand these people you see on programmes that admit they have 20K on credit cards or whatever just because they wanted to have a better standard of living I mean , what planet do they live on??
Some people seem to see a 6K limit on a CC as an extension of their earnings!! Its all good if you can pay it all off each month!

ProperCharlie

better standard of living? that's a laugh! how does paying £400 for something that costs £200 give you a better standard of living?

r32

No mortgage no credit card bills, no HP, no loans, nice ............... the trillion isnt mine.

STEVE...........

ProperCharlie

lend us a tenner then.

juicy1

PC-Thats just what one of the guys said on some consumer program i was watching He was earning 10K a year and Barclays gave him a 6k credit limit and according to him it improved his standard of living. He then spoke to Martin Lewis (the debt management guy) and went v pale

Nicci

I agree with juicy1

Why do these people have a standard of living that is clearly beyond their means?

Surely paying of the loans and getting out of debt is more important.

Is it too simple to live to an affordable standard?

I am sorry but these dreamers drive me insane.

Ringpeas

Their standard of living only improves for a short time, then drops as interest charges consume more of their income.

Total muppets

SiDHEaD

I reckon a great deal of it is mine

Was fine till i bought the scoob and tried to commute in it. A year on and i've got about 15k on cards and loan

Andy

unclebuck

I laugh out loud at the morons swanning around in their gas guzzling SUVs, done up like footballers wives as they drive backwards and forwards from their ludicrously over valued homes - all 'paid' for by credit.

There is going to be *such* a hangover when this particular New Labour induced party is over. Boom and Bust? we ain't seen nothing yet!!

Idiots all!!

UB

Ringpeas

Yes, and we will all suffer when it happens - debtors and non debtors. There will be job losses galore as recession sets in.
Better enjoy it now

JDM

"better standard of living? that's a laugh! how does paying £400 for something that costs £200 give you a better standard of living?"

If you don't pay back the original £200 and just shift it from 0% card to 0% card.

ProperCharlie

in reality only a tiny number of people are actually doing this. if everyone was doing it, the CC companys would stop offering 0% transfers.

Fosters

Who's got the biggest debt (no mortgages!) to salary ratio then?

Mine's 33% (very crap accountant ) my salary's well into 6 figures tho, so on paper it looks horrendous!