after uni

[nanunanu]

Ive just finished uni and am in a minimum wage job, I am 1200 overdrawn out of my 1500 limit switch account which is the only account i have. is everyone in debt all ur life??? ive got 12k student loan 2 pay back and think my gf may b pregnant. am i in trouble???

[nanunanu]

id also like to add that i wouldnt b unhappy about it, i was just wondering if everybody is always in debt no matter how much you work??? unless u win lottery :) I always seem 2 be skint, even tho im pretty tight wit money

[5029]

No, I have never been in debt in my life.  I now have a university degree and a car, neither of which put me in debt.  I suppose everyone is different, and mortgages put most people in debt.

 

My parents are not in debt either, they have paid off two cars and their mortgage.

[ewand]

Fair play, 5029, but I would suggest that nanunanu is not alone any way.  Many people in the UK are in debt, and even if they have no "conventional" loans, credit card bills or overdrafts, many people have mortgages, a form of debt.  However, in answer to your question "am I in trouble?", I would say depends?  Are you happy in your job, therefore not interested in looking for a more highly paid job?  Is your girlfriend pregnant, and if so will you keep the baby and raise it yourselves? etc.?

 

You are not massively overdrawn, so I wouldn't get too worried about that.  Also, student loans are only paid pack when you are earning enough to afford to pay it back (I think 17k) so I wouldn't worry too much about that, either, as it will be collecting nominal interest.  However, if you are planning on having the baby, then it is worth thinking will you be able to give this child a good start in life and can you and your girlfriend afford the time, cost and challenges you will face when raising a child. 

[5029]

ewand, i was not suggesting that he/she was alone, as you can see i stated "everyone is different"

[ewand]

5029, surely stating "Everyone is different" suggests everone is alone!!???  ha ha!  I know what you are getting at, and I wasn't being critical of your response, but merely suggesting that there are probably fewer in the position you (and your parents) are in, and more like nanunanu and I!

[Hammer]

In response to the question "is everyone in debt all ur life??? " - not everyone, but probably a fair chunk of people, myself included. Even if you exclude mortgages, I would say that the majority of people under the age of about 30 have been or will be in considerable debt at some point in their lives.

The problem is we all want things now rather than saving up first, and it's so easy to obtain credit it's scary. This is not necessarily a bad thing, but not eveyone is as worried and careful about it as you abviously are (only �1200 in debt apart from the very very cheap student loan that you won't have to pay back yet anyway - how did you manage that!)

Don't worry too much about it, you do not have too much debt, just make sure it stays that way!

[natalie_1982]

I know lots of people that are in debt, and both my parents are (aside from there mortgages).  I've onlyjust begun to sort mine and should be free in about 3 years time if I work hard.  You're not alone but if it's really getting you down and you can't cope financially call a company called Gregory Pennington, they really helped me.  And if it's getting you down physically/ emotionally speak to somebody!  Good luck and keep your chin up :)

[H.Wilkinson]

Try not too worry. Smell the flowers while you can.