Debts?

[BFG_]

What types of debt do you have?

I was reading this article in the guardian this morning and wondered if socially anxious people are less likely to borrow money.

https://www.theguardian.com/money/20...-rents-workers

[anxiouslondoner]

Would vote none, but it won't let me

[BFG_]

Can a moderator add none to the poll options please?

[Mr. Nobody]

No debts as such, as I do find it feels quite binding to have a debt hanging over me,
I like to feel financially stable and to some extent independent as it diminishes the level of anxiety a little, just knowing that there's one less aspect of life to worry about.

Although, having said that, I know that there is always money required for living day to day,...like gas bills electricity bills, and especially food and travel money required to just keep going,

I have been mortgage and car loan free for a good few years now, but things are ever-changing.

[Chess&Junkfood]

Debt thread + BFG?





No, it goes without saving that BFG is friendly and great! Although if I was a customer of the BFG debt agency, then I can assure you that there would be no dilly dallying on my part!

Anyway

I'm fortunate that I don't have any debt. I don't have a mortgage as I rent. I have no car loan as I still drive a car that belongs in a museum. I also don't go on holidays that often. In fact, I don't go out that often to spend money. So after paying the general day to day bills, I usually save what's left. Which in a way is a lot of delayed gratification on my part. Buying a shiny new car would be nice. Or even putting down roots and buying my own property would also be good. But I just feel like keeping things simple at the moment. Although I've been saying that for a while now, but still.

[BFG_]

Interesting pole results it's appears social anxiety = thrifty sensible money cautious people who have savings as they don't trust the uncertainty of the world around them.

[biscuits]

^ it can also be avoidance - not wanting to go to important/formal meetings.

I know the idea of going to meetings freaks me out more than anything!

Plus we are likely to be worriers in many areas as well as socially. Is it the right decision etc.

[BFG_]

Originally Posted by Chess&Junkfood

. I have no car loan as I still drive a car that belongs in a museum.

What's the car?

[BFG_]

I'm so tight the banks pay me for borrowing their money.

Sometimes I wonder what it would be like to be frivolous with money.

[Chess&Junkfood]

No, it's actually a Ford Fiesta, BFG. It's been an adequate car to drive. Not too stylish. Not too fast. A bit like me really. Although it still gets me from A to B. It once nearly got me to A&E when my tyre blew out. But I think that helps to add charm to the car. It's also not a big car to drive. So it would probably be like driving a toy car for you.

[BFG_]

First car I ever drove was a 1982 Ford fiesta 950cc popular plus.

[Chess&Junkfood]

BFG in a 1982 Ford Fiesta 950cc popular plus



My first car was a Renault 5 1988. I forget the cc, but I do remember helping it up a hill once. So probably not much cc. But it did have charm.

[Lee S]

Originally Posted by Chess&Junkfood

No, it's actually a Ford Fiesta, BFG.

I had a B-reg Mk2 Fiesta L for ten years. 950cc. It did not like hills very much but was easy to drive and reliable, although I did eventually have to change the differential bearings, which was a common fault on front-wheel-drive Fords at the time. I think the car I liked the most out of the many I've had would be the Escort Mk6 Zetec. Also had that for ten years before the tin-worm claimed it. It was so nice to drive and never really went wrong apart from very minor things.

No debt here and have decent savings. But that could easily change.

[Chess&Junkfood]

Absolutely, Lee! Food blenders had more cc than those cars. Although they still got you from A to B and you were even able to whisk an egg at the end of it all. Or something like that.

[Lee S]

^ Yep

[genovese]

Speaking of Fiestas, I read the other day the price of a brand new, base-spec Fiesta circa 2012 was £9995.

In 2024 it's £19,000.

[Lee S]

^ eek!

[gregarious_introvert]

I voted "buy now pay later" because, at present, I am paying monthly for some caravans with Haven - partly so the money continues to earn interest between payments and partly because each instalment ends in "£x.01" and the 99p goes into a roundup account paying a higher rate of interest. The total amount is minimal and could be paid off instantly. I also have this year's "big trip" booked through TourHub and next month, I have to pay an instalment of £800, then take $700 with me in August when I travel to Zimbabwe. There is no alternative payment arrangement, but again, the money is already in place. TLDR: I use (interest-free) credit when it suits me, but only when I already have the money.

I used to have a mortgage, but had to sell and wasn't in a position to buy another property, I have never had a car loan, never been overdrawn. I use credit cards (although these days, I use them mainly for deposits on car rentals) occasionally but pay the balance each month (again, I never spend what I don't have already). I'm quite thrifty by nature, always seeking the best deals on what I need or want; I've known poverty and homelessness in the past and I don't want to experience either again.

[humphrey]

I suppose I am in debt for my council tax, gas, electric water etc as I pay these by direct debit over the year. But I don't actually have any loans.

I always save up for my car now, I had my first couple on finance, but now I trade in and pay cash for the rest, except this time. I got the PCP for £2250 deposit contribution, but still put a 50% deposit down. I will pay the balance within a couple of days of picking up the car so only pay a few pounds interest. Only done it this way as it is a better deal than paying cash!

[anewyear]

Flippin'eck you're all doing ok! For me, money comes and money goes.. thankfully it's not a problem and if I wanted to be stricter with myself then the overdraft and credit card could be gone but, if I fancy a meal out or whatever then I'm gonna have it