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[Peter H]

My wife and I have about 12k in terms of non mortgage debt...

... and a 300K mortgage!

[matt-sboro]

i have a 4.5k loan that paid off credit cards etc that i wasted doing cars up - i get back pay next month from the pay deal finally agreed at work so this should cover the repayment of the loan in december.

i also have a sofa agreement that is £1200

and my mortgage so that wont be going anytime soon!

i certainly wont be getting any more finance agreements for cars as i get bored within 6 months and look at something different - i have wasted too much buying and doing up cars!

so at the moment i am comfortabe as i know a few months work plus all the extra working over chritsmas should easlily pay my 2 loans off  

[Tony H]

I have a loathing of paying interest( cos I'm a tight wad)so I avoid it like the plague if at all possible. All credit cards are on direct debit and are paid off in full every month. As has been said I also was brought up in the mindset of if you want it you save for it, and not buy now and pay later, unless of coarse it's an interest free deal

[amigov6]

Voted, not much now & still well in positive equity. No store or credit cards (anymore) & small debt i have is arranged not arrears.
   What i don't understand is, with credit cards if you can pay in full each month to avoid charges why do you need it in the first place? :-?

[tunnie]

My wife and I have about 12k in terms of non mortgage debt...

... and a 300K mortgage!

 

What are the monthly payments on that?

[ngrainqey]

Voted, not much now & still well in positive equity. No store or credit cards (anymore) & small debt i have is arranged not arrears.
   What i don't understand is, with credit cards if you can pay in full each month to avoid charges why do you need it in the first place? :-?

some people guy use credit cards that have a years free interest then spend upto the limit, come the end of the year transfer credit from another card and then continue like that, if you do it right then you can actually make money lol!

[amigov6]

I've heard about that, Martin Lewis? I'm to disorganized though, i'd break it right up & incurr charges so i leave well alone.

[Chopsdad]

Now is the time to look at what you have borrowed, check out the rates you are paying and lump it all together for a cheaper deal.

High street banks are keen to lend and have targets to achieve so may be more sympathetic than you think, so now is the time to do it.

Look at how much you pay out on all of them and that's your monthly budget - no more!

Be wary of finance deals for kitchens, furniture, computers etc after any initial free period ends they can be as much as 30%+

[Jay w]

i have a loan for Mia's additional tuition , that was interest free, i had the money to pay for it outright but decided to stick it all in a buliding society account and have it pay the loan on a monthly basis, i know i am not earning a lot of interest but anything is better than nothing at all......

My other debt is a directors loan from my business, and again that is interest free....

My mortgage is 89K and we want that taken care of in the next few years

[Radar]

Voted, not much now & still well in positive equity. No store or credit cards (anymore) & small debt i have is arranged not arrears.
   What i don't understand is, with credit cards if you can pay in full each month to avoid charges why do you need it in the first place? :-?

It is a matter of convenience (i.e. not having to carry a big wad in your pocket at all times or cheque book). Also you can get protection/assitance in areas of disputes, lots offer reward schemes and to shop online where most of the best deals are had.