How much credit card debt?

momomo said:
As an "under-35",I think it would need research cause i dont spend more then 20mins travelling to and from my home.
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I'm about 30mins walk myself, nice isnt it? But if you're under-35 and a mortgage-owner I doubt we're in the majority.
 
We have €600 at the moment on the CC, that's enough to give me sleepless nights - some purchases for baby Quinno, and it'll be cleared really soon. We'd saved up for the likely things like prams, cots etc, as well as the consultant's fee, so we did pretty ok.

I generally like to save for things - recently I indulged in a rather expensive hi-fi, but it's one of my things and I had saved up for probably 6 months or so for it. It would have been easier to 'flash the plastic' but I wouldn't dream of it - it sickens me to see an interest charge on the CC if it happens.

It's an interesting thought about the negative equity situation of mortgages. Based on the (inflated) value of our house against what mortgage we have outstanding on it, the house would need to drop by 60% in value before it's in negative equity.....it's anotehr question of course with regards to 'rent v buy' - we're probably border line at the moment..... but someday., it will be ours (sure it's only a few years to go to 2026 !)
 
Can I throw my hat in?

190% ratio of debt to gdp.

now our gdp is grossly over inflated due to multiN.

So postulate to the figures if you will...but gnp: gdp has been mooted to be around .86:1

So roughly, being generous..GNPEBT of 1:2.05

Ok, now on other side of the equation, price our housing stock at REINSTATEMENT cost, as inherent value is not tangible...

I wouldn't be too confident of debt levels being nice and low.

And if we factor in the cost of servicing the debt versus the various offsetting income, ie
Mortgage costs versus Capital Appreciation.
Car Loan costs along with depreciation vs weighted aspect of wage (including increases) devoted to depreciating assets...ie cars..


Interesting piece of info...we have more bmw's and mercs per capita than anywhere else in the world....

In 2005, more cars worth over 70k where sold in ireland than the revenue had records of ppl earning 70k or more...

ppl won't own up to indebtedness...and econometric studies in the us have shown that the more educated a person is, the less likely they are to admit financial trouble.
 
baby_tooth said:
Interesting piece of info...we have more bmw's and mercs per capita than anywhere else in the world....

In 2005, more cars worth over 70k where sold in ireland than the revenue had records of ppl earning 70k or more...
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Have you a source for this one?
 
read it on a report from someone who worked in the planning section of main car distributors, they had sourced their info from revenue and vechicle registiration office.

other stat is from a report from the central bank...think it was another of thsoe IFSRA reports.
 
you would put under 35s in 'youth' bracket ? excellent stuff that means 5 yrs of 'youth' left for me !
 
I read an article yesterday - I think it was in Irish Tatler - on credit card debt and it said that the average credit card debt amongst women in Ireland was over €5,000.
 
cjh said:
I read an article yesterday - I think it was in Irish Tatler - on credit card debt and it said that the average credit card debt amongst women in Ireland was over €5,000.
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maybe they consider it a 'debt of honour'....

from the bbc news site today, while the average European has 1558 GBP in unsecured debt, the average Briton has 3175 GBP (I assume this is also unsecured debt).
The article mentions German, French, Turkish,Greek and Dutch debt rates but little old Ireland doesn't get a mention.
 
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