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07/02/2013 at 20:42
Do you have one?? Do you always use it? Are you always in it? Do you ever get out of it?
We have one. When we were in trouble and had our house we were always in it to the max, now its hit and miss whether we use it or not, but it we do its only by a couple of hundred quid max. We discussed getting rid of it so we can never run it up again, but to have that available money sitting there if we needed it in an emergency is to appealing. Especially as we don't have credit cards etc anymore.
07/02/2013 at 20:58
We used to have one on the old account but these last few months we have been out of it and finally able to change to a decent bank. We now have a much bigger overdraft but I vow to only use it in emergencies!
07/02/2013 at 21:58
we have one but don't use it, although I'd be more inclined to put something on my credit card I suppose. We're trying to clear those at the moment, hopefully by June our only debt will be our mortgage I used to use my overdraft all the time when I was younger, in fact could never get out of it so I'm really wary now about using them. Not sure why I think a credit card is any better mind you!
07/02/2013 at 22:22
Yep, we live in ours, its £3000 and we are to the limit each month, we have a crazy amount of debt!
08/02/2013 at 06:59
Yes, all of our bank accounts in the UK have an overdraft facility but we don't use it as we haven't had to.
08/02/2013 at 07:29
No overdraft but a £100 buffer on the account should we ever need it or an unexpected Bill is taken. Its not chargeable so I've always just kept it.
08/02/2013 at 08:20
We have an overdraft on ours. TBH I couldn't tell you what it is now, as we don't generally use it. It must be quite big though, as we used it when we bought our car in cash a few days before my husbands bonus was paid, back in Feb last year. It was that or take from the ISAs, and we knew we wouldn't be able to put back into them so we sucked it up!
Month to month though we are lucky enough not to need it, but i'd never get rid of it - just incase I guess. The same as I have 2 "spare" credit cards about my main one, but never use them (though this actually is pointless as if I did need them, i'd not know the pin, as I don't use them.. but hey ho!)
08/02/2013 at 08:35
We don't have an overdraft on ours. We've never really needed one.
08/02/2013 at 09:54
On our joint account we don't have one, and manage to stay about the line. H has an overdraft on his own account, but it's been there since student days and is about £1k I think. It's something we probably should start working at reducing - once we've got rid of the couple of grand on our credit cards that will be the next thing to sort out!
08/02/2013 at 09:58
I don't even know if we have an overdraft on our account! I think I still have one on my UK account but I barely use the account so hopefully will never need the overdraft facility. When I was a student and then a graduate I lived at the bottom of my overdraft constantly which I hated but I was dumb with money then I somehow managed to pay it off when working and with a bit of help from a tax rebate as well. I really hate having any debt on credit cards as well so make sure it's paid off within a month or two of using it.
08/02/2013 at 10:17
We have a small one of £100 which we probably dip into most months but as it's free and so small i don't really think about it. H and i both had big overdrafts left on our student accounts a few years ago and hadn't managed to pay off. So when we reorganised finances we added the balance of them to my graduate student loan. Paid them off and closed the accounts.
08/02/2013 at 10:32
I have a £400 overdraft but never use it, purely out of principle because I get charged £1 a day on it and am too tight to give the bank money
08/02/2013 at 13:17
OH is in his to the max every month. It does my head in!
Im in at by the end of the month but POA is have it cleared by end of March & not use it. But I wouldnt get rid of it, its handy & costs pennies.
I have a credit card but its paid in full when its used - maybe every couple of months.
Our only 'debt' is our mortgage but they will change when we get a new car, hopefully end of year. But my parents will lend us the £ so we will pay them back. I dont like having debt.
08/02/2013 at 13:26
No I don't have one, I sometimes would like one but I used to have one and always used it, just like it was my money. Now I just stay skint and hang on for payday!
08/02/2013 at 16:52
We have a 100 quid OD limit on our own accounts which by the end of each month we have normally used about 50 quid of it and we have 1000 OD limit on our joint account but never use that. Won't get rid of it though as you never know when there may be an emergency. We also have a flexible friend and most months have a couple of hundred owing on that. My theory is who doesn't have a bit of debt at our age and as long as you can pay it back then there's no problem :-)
08/02/2013 at 18:22
Nope, I don't have one. My H does, but I can't remember how much for.
08/02/2013 at 19:27
I use to live in my OD then my pay would bring me back to zero each month, weve almost paid of our debts after years of struggling and i still have the OD but try my best not to use it but will if I have to (only for a bill or something important). We have no savings now so I wouldn't get rid of it incase of emergency.
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