 |
By *good-being-bad OP Man
over a year ago
mis-types and auto corrects leads cock leeds |
There's a program on at the moment I think BBC about debt in the UK.
They ssaid 6 million folk in the UK don't believe they'll ever be debt free 
I have a mortgage..it has a few years to run then I'll be debt free.yippee.
I knew a guy who was terrible at managing money. Are you good at managing your budget?
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
We were good at managing money until I miscarried on our wedding day. I already had depression - that pushed me over the tipping point. I was off work for six months, went from earning over a grand a month, to £300 at most (stat sick pay).  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
No I'm terrible and it's likely I will never be debt free. Depressing seeing my wages practically disappear within days to pay what I owe. But hey ho I'm healthy and fitter than what I was 20years ago, some people have it far worse |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
No, I’m just in the process of sorting my debts my ex left me with. This time next year I will be debt free. But I’ve very little personal income so I’m always careful with my spending x |
Reply privately, Reply in forum +quote
or View forums list | |
Recently had a chat with my mortgage advisor over buying another buy to let property. He was foaming at the mouth in enthusiasm to try and get me to buy more borrow more. (I except his big fat commis had a lot to do with it)
He said money’s cheap at the moment no wonder people get sucked into debt.
I’m terrified of debt and will only make choices I can afford. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
Depends on your definition of debt. Though I am free of most loans, I will be in debt to the tax man until after I am dead, which is the truth for a lot more than 6 million people. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *etLikeMan
over a year ago
most fundamental aspects |
What compounds the problem, are the debt companies who will, for a fee, “help” you out of debt. If you google debt advice, pretty much the first page are those pretending to be there for you.
If you have debts, there are charities and organisations who will help for free. Citizens Advice or National Debtline will never charge you a fee and have highly trained specialists to help. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Recently had a chat with my mortgage advisor over buying another buy to let property. He was foaming at the mouth in enthusiasm to try and get me to buy more borrow more. (I except his big fat commis had a lot to do with it)
He said money’s cheap at the moment no wonder people get sucked into debt.
I’m terrified of debt and will only make choices I can afford."
buy to lets not great ,pay tax on therental,then 40% when you sell it or is it 28%
its ok but not going to make you fortunes
one bad tenant could sink you if your relying on the rent to cover mortgage 
one needs to know the game .. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ngelina4uWoman
over a year ago
Camberley/Middleton |
"Depends on your definition of debt. Though I am free of most loans, I will be in debt to the tax man until after I am dead, which is the truth for a lot more than 6 million people."
True for the self employed but people who are employed by someone else never see the money the tax man has it at source.
Saying that though all those people who have credit cards are in-between 1 day and 56 minimum in debt so you have a point. |
Reply privately, Reply in forum +quote
or View forums list | |
"Recently had a chat with my mortgage advisor over buying another buy to let property. He was foaming at the mouth in enthusiasm to try and get me to buy more borrow more. (I except his big fat commis had a lot to do with it)
He said money’s cheap at the moment no wonder people get sucked into debt.
I’m terrified of debt and will only make choices I can afford.
buy to lets not great ,pay tax on therental,then 40% when you sell it or is it 28%
its ok but not going to make you fortunes
one bad tenant could sink you if your relying on the rent to cover mortgage
one needs to know the game .."
Been in the game for a while know what I’m doing this isn’t my first Rodeo. I wouldn’t do it unless I got a healthy return. |
Reply privately, Reply in forum +quote
or View forums list | |
Aside from paying finance on my car I'm lucky enough to be debt free, I did get in a fair bit of debt on credit cards in my 20's when I was on a low salary but I've changed jobs and jumped up the pay scale a few times in recent years so paid everything off which is a nice feeling. I don't have kids and I'm happy renting so no mortgage either.  |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
