My attitude to personal debt

[contractor79]

You can save money by judicious use of credit. Taking out a mortgage when you can afford to pay 100% in cash means you can invest the money and potentially make a profit off it.

??

[NotAllThere]

Credit cards aren't a problem if you have the means to pay off in full every month. Years ago, just before I first went contracting, we managed to keep a £500 debt without paying a penny in interest, by judicious use of the credit card.

I have credit cards - that I pay off in full. And a mortgage - which is about 2/3 of what I'd pay in rent for the same house. The mortgage I work to reduce as quickly as possible.

I have no other debts at all. And never use or have used my overdraft facility.

[Jog On]

I've gone off debt big time, don't have any left and I won't have any again (not that anyone will allow me any).

However, as you say, not having some sort of plastic makes transactions very difficult. For example, try buying a plane ticket with cash these days!! It's a good job I know what it's like up the

There's no option for used to have lots of debt, now behave very differently.

I now have several credit cards with sizable limits and zero balances. Cards are critical for some transactions to be done with minimal fuss and maximum protection.

I’m paying off a big chunk that I acquired over a few years when I was permie, in my 20s and more concerned with having a good time than anything else. I lived beyond my means with money that wasn’t mine and at the time the bank encouraged it. I remember them extending my credit card balance and overdraft without me asking a couple of times, then when I got into a jam I’d go and talk to them and they’d say “Hmm - why don’t we give you a nice personal loan to move all those nasty balances onto and reduce your interest payments”.. Then I’d max out the card/overdraft again.

I was very naive and am paying for it now – nothing like learning the hard way...

I’m now following a very aggressive debt repayment ‘snowball’ plan to get it all cleared in the next 6 months if I don’t get benched at any stage.

[Bagpuss]

well ?

None of the above. I use credit cards to my personal advantage, via stoozing or slow stoozing

[EternalOptimist]

None of the above. I use credit cards to my personal advantage, via stoozing or slow stoozing

I have never stoozed in my life. Is it obscenely biological ?

[FarmerPalmer]

what about use a credit card to make money (cashback) from my spending ?
no loans, no card debts, but a low LTV mortgage