Bare Knuckle Pickups Forum
At The Back => The Dressing Room => Topic started by: JDC on May 03, 2008, 01:31:08 PM
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according to the missus I'm the only person she knows who isn't in debt (not including mortgages), just wondering how common this is
personally I'd rather stay so far away from debt that it would be in another galaxy
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i have student debt still... shame since my course turned out to be a total waste of my time, wasn't what i was hoping for at all.
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Probably very uncommon - well done.
FWIW, aside from a relatively small mortgage, I have a few months left on car finance & pay my credit card off every 3-4 months. I reckon my debt position is better than most...
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I have WAY more debt (non-mortgage) than I'd like - will need to make inroads into paying it all off (again). Most people I know are in a similar position.
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Im screwed, completely, for a long time.
But im still trying to buy a JCM800, hehe!
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Just student debt here. I seriously plan not to get into any other debt than a mortgage. No credit cards for us, just cold, hard saving...
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I have no unsustainable debt if that answers your question.
I have a loan to pay for my car which I've never defaulted on, and doesn't take up much of my income, and I have my student loan.
Besides that, I'm on the good side, no debt here at all :D
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I have a few but nothing out of control like many I know. My son was married to an evil bitch who went mad of his card (he'd let her use it) after they had parted-he thought it was a trial separation, she had other ideas.Anyways, he ended up having to face a mountain of debt and I had to bail him out as he had lost his job at the time and was desperate.I could have bought quite a few custom guitars with the money I had to let him have (it was actually money I had earmarked for some major work on my house). It is a bit ironic because have never used credit cards to any great extent. A lesson for anyone out there thinking they are in love and getting a bit free and easy with money they don't have. It is going to take him years to pay me back.
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according to the missus I'm the only person she knows who isn't in debt (not including mortgages), just wondering how common this is
personally I'd rather stay so far away from debt that it would be in another galaxy
I'm with you, JDC - no debts (except mortgage), no overdraft, pay the credit cards every month. Sorry, I know that sounds smug.
My mortgage is 18 years old, so doesn't cost me much, which helps. Plus I have no expensive addictions (guitars, CDs and DVDs excluded - and I've cut down on those), no car, no great urge to travel. And, unfortunately, no wife/GF or kiddies.
So in my case, "no life" is the recipe for "no debt", I guess. :wink: :? :|
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I have a student loan to pay off, but thats it.
Most people I know that have (non-house-related) debt have it from credit cards.
If thats a problem for any of you, heres a trick I find works extremely well:
Dont spend money that you dont have yet :wink:
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I don't have any debts apart from a small mortgage and a very small bank loan for a car. It's the only way to be IMO. $%&# all that credit card cr@p!
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I have a few but nothing out of control like many I know. My son was married to an evil bitch who went mad of his card (he'd let her use it) after they had parted-he thought it was a trial separation, she had other ideas.Anyways, he ended up having to face a mountain of debt and I had to bail him out as he had lost his job at the time and was desperate.I could have bought quite a few custom guitars with the money I had to let him have (it was actually money I had earmarked for some major work on my house). It is a bit ironic because have never used credit cards to any great extent. A lesson for anyone out there thinking they are in love and getting a bit free and easy with money they don't have. It is going to take him years to pay me back.
She sounds like a nice girl! Did you chase her up in the courts to get the money back from her?
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I've had to borrow money from myself a couple of times, but... no. No debts.
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I don't see how people have the mindset that they should use money they don't have and think they can pay it back? I'd never do that. Well, I suppose I'm only saying it to those who are absolute bonkers. Like said woman up there ^
I'm soon to have student debt which won't be fun but hopefully I can live with it.
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I'm allready about 6 grand in debt from student loans and thats only for my first year :|I dont think I want to get a credit card, seems too easy to spend money you havent got. At least with a debit card, you know how much you have to work with.
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Yeah, it's tough for you guys with student loans (they didn't exist in my day).
The government claim they want to discourage a "debt culture" and yet they're happy for countless 21-year-olds to leave University with many thousands of pounds of debt. :?
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No Johnny, we got some back but the dozy sod had given her his credit card to use. He was thinking through his trousers unfortunately.We got a few quid back but nothing of any great significance.
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When is a Kitchen meant to cost £17,000 :roll: :evil:
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Yeah, it's tough for you guys with student loans (they didn't exist in my day).
The government claim they want to discourage a "debt culture" and yet they're happy for countless 21-year-olds to leave University with many thousands of pounds of debt. :?
More than that, they are encouraging more university attendence, and trying to increase statistics in education (as in most things as well)
My school has treated me worse and given me less support for being the only person not going to uni.
And I'm to young to get into debt at the mo :) want to avoid it really
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I was completely free from (non mortgage) debt until last week at which point I bought a new car.
Bugger.
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If you're a student and you know what you want to do i.e. your course is relatively vocational student loan should not put you off...
its the cheapest loan you'll ever get! no job, no need to pay off...
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Anyone to hazard a guess what Uni or College will be like for someone my age? :evil: .
I'm 16 in July.
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Not sure about in the future but right now its about £6-7k a year. Quite a lot but uni is fun (until everyone runs out of money/stops going out), so its probably worth it really.
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Not sure about in the future but right now its about £6-7k a year. Quite a lot but uni is fun (until everyone runs out of money/stops going out), so its probably worth it really.
For me it's not that much:
1. You get a student loan so you pay when you leave Uni and have a reasonable income, i.e. currently £15 000
2. If you applied then your library board will pay for £1000-2000 of it for you.
etc. etc. plus grants and all that malarkey.
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I didnt know anything about that library board thing. I got a £250 "regional bursary" though just for living within 20 or 25 miles of the uni, which funded my Pearl LP :lol:
Btw, until I find a summer job do you reckon I can get on jobseekers allowance, since technically I am able to work but havent been able to find a job yet, or due to me being a uni student am I exempt? Dad suggested it but I feel so lower class and cheap just thinking about it :lol:
edit - turns out students cant get jobseekers allowance. Time to start sending out CVs then :\
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I still owe about £16,000 to Student Loans (who have just caught me up after 5 odd years and now go for £140 a month) and about £8,000 on a loan........ And just bought the wife an £8,000 car which I'm now tied into.
I also owe a couple of people beers.
Owing money isa right paini n the arse, for all you young 'uns. Don't get credit cards, they really do take the proverbial.
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I have a loan for the business which I needed after doing several guitar shows (another benefit of not doing one this year) and also I used it to get rid of a large debt on a credit card.
Now I am really careful not to run up any debts on a credit card that I wont be able to pay off at the end of the month.
In fact I chose to play the credit ratings game as best I can
I do use my credit card a lot every month - payingh lots of bills and buying stuff , but then at the end of the month when the statement comes through I just pay it in FULL
What this does is score me lots of points for spending via credit but because I always pay it off in full makes me look like I'm affluent when in fact I am just careful. I chose not to overspend (he lied) unless its on tools and stuff for work
My only vices are CDs, gigs, food, clothesetc and the occaisional amplifier.
Oh and hair products too!
Guitars I seem to have enough of strangely enough
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Long time away but... the students out there and recent leavers - how much on average do I need to budget per year for fees etc? What is a typical student loan debt? We started saving £50 a month per kid starting when they were born for this 'eventuality' - so with luck they'll have around £11,000 plus the interest when they get to go to college - assuming the idle little gits get that far :roll:
"Wasn't like that in my day, lad, I'll tell thee...."
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Apart from the (10 year fixed rate) mortgage I've got:
* Car loan with 12 months to pay
* Sofa loan (0% finance though, so that's OK ;) )
* Fairly chunky credit card balance
The credit card is the 'bad' debt if you like, but if I needed to I could sell my motorbike etc and pay it off. I'm a live now, pay later kinda guy :roll:
We're having a belt tightening this year and trying to cut debts a bit. Mrs TF is selling her motorbike as she doesn't use it any more, plus I've cleared a few guitars etc. I'm getting more sensible as I get older, but I don't regret the choices I've made or the money I've borrowed in the past.
You only live once, right?
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I think a typical student loan debt is in the region of £10k. I was a bit different from most students in the fact that my folks couldn't afford to give me any money (didn't have to pay fee's either what with being a scivvy).
You might have the trouble of having to fork out for fee's.... I did hear that things like engineering might have an additional £3k a year put on as they are expensive to teach (they could just chuck out all the bloody sociology and media studies students so that there's some money left over for real subjects - rant over :roll: )
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Well, i wasn't in any debt until a couple of hours ago when i applied for a student loan for my last year at uni. Fortunately it's only for tuition fees, so it's just over £3k. Cleared off my credit card a couple of months ago, but i don't really make a habit of putting stuff on it- same kinda thing as Jonathon, just put petrol on it and pay it off to keep the credit rating ticking over.
I know some people who's spending habits just baffle me... paying for holidays left, right and centre, buying cars (not even buying them for a sensible amount- paying a few hundred and then wondering why it breaks down after a month). And a slightly worry one was: "Finally i'm debt free now, got my credit card paid off"... "yea, i took out a £7k loan, and the rest of the money i'm gonna use on a holiday to cuba and on some clothes".... she wasn't even joking either, taking out a loan to pay off a credit card is apparently clearing debt these days :roll:
I like being Mr Frugal with my money :) Need to get some summer clothes though... getting too hot for jeans, combats and band tshirts!
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And a slightly worry one was: "Finally i'm debt free now, got my credit card paid off"... "yea, i took out a £7k loan, and the rest of the money i'm gonna use on a holiday to cuba and on some clothes".... she wasn't even joking either, taking out a loan to pay off a credit card is apparently clearing debt these days :roll:
I have a friend who regularly does that, she's forever "consolidating" credit card balances to take advantage of those 6-months-interest-free offers (which is sensible enough, if you're in that position). But she also does the loan thing - and takes out more than she needs to spend it on other stuff. :roll:
She always thinks as soon as one balance is paid off, that's the end of the problem - on some level she seems to believe that she'll never actually spend more money ever again. And she's always shocked when she finds she has a new credit card balance to pay off.