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is it
10,000
20,000
30,000
40+
or 1 million pounds
Additional Details
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jojeba | Is my debt excessive? |
I'm 25 and have credit card debt of £2500. That's the extent of my debt but I have no savings. Is my debt average, less than average, or greater than average, do you think? Should I be stressing? |
 |
 
blackcat
 |
I'm one who says that any debt yu have that you can't pay off immediately is excessive.
Since you have no savings, I assume you live "hand to mouth.'
Pay it off, start saving for emergencies and live a happier life! |
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Scott M
 |
It's average, but the average person in there 20's these days has too much debt. Should you be stressing, no. Should you be working on lowering that, absolutely. |
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ZZA
|
you should not be stressing, but you should be controlling over your spendings.
i am 26 and i have debt of £34,0000 i am very stressed. |
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alicialions
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that's not much at all...just keep it under control and you'll be fine. |
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L
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ithink you should make it a priority to reduce your spending and pay this off. credit card companies charge huge amounts of interest, and before you know it it could spiral further out of control. |
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Teresa G
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It is an average debt but pay it off as soon as you can and keep it under control |
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ezki1
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this is not bad at all, compared to other people your age you are very lucky, so dont stress. |
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you're lucky I'm nice
|
my husband and I have about $2,600 in debt. it's only one credit card, and we are paying it off. i think you have an average amount, but it's not "good". get it paid off ASAP. |
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RM
 |
Only you know the answer to that - what did you spend the money on?
If you were asked to pay it back by the end of the month, how would you do it?
'Average' means nothing - it depends on your income and your expenses. If you're earning £5000 pm, then fine, it's not a problem, but if you earn an average wage, and you don't spend outrageously, then it's a problem - you're living beyond your means.
The advice by another poster to not worry until you can't meet your minimum payment is crazy - that's the quickest route to spiralling debts and consolidation loans... madness that takes years to get out of.
Keep a spending diary for a month, see where your money is going. Gather your statements and bills and get a clear picture of what your expenses really are every month.
Then see whether you earn more than that figure. If you do, put it towards clearing the debt asap. If you don't have a surplas, you need to make changes to bring your lifestyle in line with your income.
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Fooligan
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It's not too bad, depends what you earn really. No need to stress but always pay more than the minimum repayment or it'll never go down. |
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sailor
 |
About average for total Debt of a 25 year old |
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GK
|
I agree it's nothing but.. Your instinct to worry about it is healthy. It is not just about how large the debt is but how does it relate to your income. Allowing debt to grow is a huge mistake!!
If you can easily live within your means then try to discipline yourself to do just that. Otherwise you will find yourself paying faceless giant organisations chunks of your hard earned cash.
Taking the step to ask for help is a lot easier when the debt is small than when it has grown out of control. If you are worried try citizen's advice who can point you in the right direction. |
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Angela P
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id say that was quite good, considering the state i was in at your age. dont let it get out of control though |
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catblackindia
 |
The thing is this , if you can pay your payments comfortably then you have no problem. No point stressing till you have trouble paying. |
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Sharon B
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Thats nothing..have some of mine tooo and then lets both worry together... |
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