How Much Do People Spend On Their Monthly Credit Commitments

[Ben1996]

How much do people spend on their monthly credit commitments a month

[bobbinwales]

Just pay off my Credit card in full each month. Mortgages already paid up

[alavahalf]

This much ..

https://www.credit-connect.co.uk/consumer-news/almost-5m-consumers-head-into-2020-with-personal-debts-over-10000/

[Buenchico]

Welcome to AB, Ben.

I keep my credit card for sudden emergencies (such as big vets' bills). So I usually owe nothing on it at all. It's probably around a couple of years since I used it for a few hundred quid's worth of car repairs, with me paying the balance off within just a few months.

[Sunk]

As much as they have to.

If you can afford to, you pay nothing.
If credit is helpful to you, you pay some.

Unfortunately there are some people who need credit to stay afloat, but it is adding to their problem because it is too much and very expensive.

[Paigntonian]

As little as possible. Runs to about 30 a month at the mo.

[woofgang]

0

[rowanwitch]

Why do you want to know?

[cashier]

Don't have a credit card.

[Sunk]

Great question to induce a lot of old people to smugly post they pay £0 in credit fees. Woohoo to you.

In the real world, the average personal debt is £16,000 so tens of millions of people are shelling out for credit.

As long as that is manageable, there is no problem (apart from shady loaners minting it).

[bobbinwales]

Should we of answered a diffrent question to the one that was asked then sunk??

[Sunk]

bobbinwales

No. The problem is with the question, not the answers.

[bobbinwales]

Best report it then sunk.

[ToraToraTora]

£0

[Atheist]

Sunk; why is it smug to not be in debt?

[Tilly2]

I spend as much as it takes to not be in debt.

[Sunk]

No need to report it, it is an harmless irrelevant question. Here's another one...

- When you go to the checkout, are you spending more on cat food than on sustenance for yourself?

[ToraToraTora]

athiest, sunk is a lefty, prosperity is a sin.

[Mamyalynne]

It isn't at all smug to say you have no credit commitments, nor is it anything to do with age - my answer would have been the same 10,20 or 30 years ago.

£0

[tiggerblue10]

I don't have credit commitments. Do you mean credit cards?

[Sunk]

The majority of UK adults have debt, which incurs fees.
The older you are, the longer you have had to pay off your commitments. The average debt in the UK is £16,000. So the majority are paying credit fees.

If you have no debt, pay no fees, then good luck to you. Most people are not that lucky. They pay for credit because they have to, it is convenient for them, and it gets them what they want (at an additional cost).