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Whats your Debt?
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 2011-10-07 2:01 PM |
Expert  1164    Roswell, GA |  Subject: Whats your Debt?After all of the talks in the past few months on debt, taxes and such with politics, I thought I would ask a more personal question: how much debt do YOU have? The reason I ask is because I honestly feel that, in order to take control of debt issues nationwide, there needs to be a level of personal responsibility before bigger issues can be addressed. How come folks are screaming about an outrageous national debt and out of control spending in Washington when they can't even control their own finances? I'll start: I am hovering around $48,000 right now, which has dropped about $10k in the last year from some really aggressive debt reduction measures. Most is from student loans and my car, but I do admit a god chunk ($12k) is from credit cards and really stupid spending. I've taken measures to eliminate unnecessary spending, like not racing as much and cutting out cable, so I continue to see my number move closer into the black. So what say you BT? I am really curious to know how everyone stacks up financially. How much of you're financial life do you owe to someone else? Edited by 15step 2011-10-07 2:02 PM |
| 2011-10-07 2:03 PM in reply to: #3715404 |
Master 5557  , California | Subject: RE: Whats your Debt? My house, and 1 year left on a vehicle. |
| 2011-10-07 2:04 PM in reply to: #3715404 |
Veteran 478 Chicago Area | Subject: RE: Whats your Debt? My house and 2 years left on 1 car. |
| 2011-10-07 2:06 PM in reply to: #3715404 |
Champion 12759 Chicago | Subject: RE: Whats your Debt? I am super proud to say. Beside a small auto(under 5K) loan remaining........I am debt FREE!!!!! And my mortgage. Edited by NRG42 2011-10-07 2:07 PM |
| 2011-10-07 2:06 PM in reply to: #3715404 |
Extreme Veteran 787 The Woodlands/Magnolia, TX. | Subject: RE: Whats your Debt? couldn't agree with you more!! proud to say, my house and that's it. hasn't always been that way but after a lot of hard work and sacrifice it's a great feeling. and good for you for bring it up and having the balls to share your info. from what i've seen, most people don't even know how much debt they have b/c they are scared to face the facts.
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| 2011-10-07 2:07 PM in reply to: #3715404 |
Elite 4564 Boise | Subject: RE: Whats your Debt? I'm about to add 100k mortgage on top of mine but right now I'm at ~70k. ~62k is student loans, the rest is credit cards, mostly to help pay for school. |
| 2011-10-07 2:07 PM in reply to: #3715404 |
Veteran 312 Southern Pines, NC | Subject: RE: Whats your Debt? Just my house.
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 2011-10-07 2:08 PM in reply to: #3715404 |
| Subject: ... This user's post has been ignored. |
| 2011-10-07 2:08 PM in reply to: #3715404 |
| Expert 1557 Austin, TX | Subject: RE: Whats your Debt? 14yrs left on house bought 5 years ago...nothing else. |
| 2011-10-07 2:08 PM in reply to: #3715404 |
| Regular 853 | Subject: RE: Whats your Debt? I still owe on the house, my car will be paid off in April and I owe about $2000.00 in CC debt. Not as bad as it could be, but needs to be better. jami |
| 2011-10-07 2:09 PM in reply to: #3715422 |
| Champion 12759 Chicago | Subject: RE: Whats your Debt? antlimon166 - 2011-10-07 2:06 PM couldn't agree with you more!! proud to say, my house and that's it. hasn't always been that way but after a lot of hard work and sacrifice it's a great feeling. and good for you for bring it up and having the balls to share your info. from what i've seen, most people don't even know how much debt they have b/c they are scared to face the facts.
Spent 10 years paying off 50K in student loans and 22K a year in child care. But will never go back! |
| 2011-10-07 2:09 PM in reply to: #3715423 |
| Expert 1164 Roswell, GA | Subject: RE: Whats your Debt? JoshR - 2011-10-07 3:07 PM I'm about to add 100k mortgage on top of mine but right now I'm at ~70k. ~62k is student loans, the rest is credit cards, mostly to help pay for school. Right there with you... Its funny, I make a really good living (software developer) and was incredibly lucky getting a job out of school, but I can not imagine making minimal wage, or even half of my current wage and still trying to pay off my debt while living a normal life. Makes me feel bad for those that are unemployed (or underemployed) right now. |
| 2011-10-07 2:12 PM in reply to: #3715404 |
| Champion 6056 Menomonee Falls, WI | Subject: RE: Whats your Debt? I'm not sure numbers are going to mean much without also knowing the respondent's income, assets and prospects for paying off their debt. To a person making $150K a year, $100K of debt is not as big deal as it is to a person making $75K annually. That said, I'm 42. My cars are paid off, I do not have much of a mortgage and not once in my life, even when I was making $18K at my first real job, have I ever not paid off my credit card bills in full every month or been late paying any bill. Yes, both of my parents were born during the Great Depression. |
| 2011-10-07 2:14 PM in reply to: #3715431 |
| Subject: ... This user's post has been ignored. |
| 2011-10-07 2:15 PM in reply to: #3715429 |
| Extreme Veteran 787 The Woodlands/Magnolia, TX. | Subject: RE: Whats your Debt? NRG42 - 2011-10-07 2:09 PM antlimon166 - 2011-10-07 2:06 PM couldn't agree with you more!! proud to say, my house and that's it. hasn't always been that way but after a lot of hard work and sacrifice it's a great feeling. and good for you for bring it up and having the balls to share your info. from what i've seen, most people don't even know how much debt they have b/c they are scared to face the facts.
Spent 10 years paying off 50K in student loans and 22K a year in child care. But will never go back! sweet...congrats! |
| 2011-10-07 2:16 PM in reply to: #3715444 |
| Expert 1164 Roswell, GA | Subject: RE: Whats your Debt? antlimon166 - 2011-10-07 3:15 PM NRG42 - 2011-10-07 2:09 PM antlimon166 - 2011-10-07 2:06 PM couldn't agree with you more!! proud to say, my house and that's it. hasn't always been that way but after a lot of hard work and sacrifice it's a great feeling. and good for you for bring it up and having the balls to share your info. from what i've seen, most people don't even know how much debt they have b/c they are scared to face the facts.
Spent 10 years paying off 50K in student loans and 22K a year in child care. But will never go back! sweet...congrats! ditto! |
| 2011-10-07 2:16 PM in reply to: #3715404 |
| Expert 1036 | Subject: RE: Whats your Debt? Lets see, 2 home mortgages, 1 camp mortgage, 2 investment property business loans, 1/3 of 20 investment home business loans, maybe 1,000,000, but I don't worry. I read that the median income of an ironman is around 160,000, so I must be rich!!!!!!! |
| 2011-10-07 2:18 PM in reply to: #3715404 |
| Master 1376 Chicago | Subject: RE: Whats your Debt? Our house is under contract and we are going to rent. So assuming we close as planned on 11/4 I will have no debt.
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| 2011-10-07 2:21 PM in reply to: #3715447 |
| Champion 12759 Chicago | Subject: RE: Whats your Debt? 15step - 2011-10-07 2:16 PM antlimon166 - 2011-10-07 3:15 PM ditto!NRG42 - 2011-10-07 2:09 PM antlimon166 - 2011-10-07 2:06 PM couldn't agree with you more!! proud to say, my house and that's it. hasn't always been that way but after a lot of hard work and sacrifice it's a great feeling. and good for you for bring it up and having the balls to share your info. from what i've seen, most people don't even know how much debt they have b/c they are scared to face the facts.
Spent 10 years paying off 50K in student loans and 22K a year in child care. But will never go back! sweet...congrats! To give credit where credit is deserved, my ex-soul mate made this happen! And even though it was a harsh life for 7 years, we both left the marriage with equal checks in our hands and a home for our children to be raised in. It takes A LOT of disciple. We were NOT great lovers but successful business partners! Edited by NRG42 2011-10-07 2:24 PM |
| 2011-10-07 2:22 PM in reply to: #3715404 |
| Pro 4838 | Subject: RE: Whats your Debt? house loan $0 vehicle $0 credit cards thats it, we don't have the money on hand, we (my wife and 2 kids) don't buy it |
| 2011-10-07 2:24 PM in reply to: #3715404 |
| Elite 3277 Minnetonka | Subject: RE: Whats your Debt? Debt free except for mortgage which will be paid off in 15 years. (Currently figuring out how to save for two college educations for the kids and a new TT bike for me)... |
| 2011-10-07 2:28 PM in reply to: #3715466 |
| Subject: ... This user's post has been ignored. |
| 2011-10-07 2:33 PM in reply to: #3715404 |
| Elite 3277 Minnetonka | Subject: RE: Whats your Debt? Foggy, you mean give my wife the old "It's better to ask forgiveness than permission??" |
| 2011-10-07 2:37 PM in reply to: #3715494 |
| Subject: ... This user's post has been ignored. |
| 2011-10-07 2:38 PM in reply to: #3715404 |
| Subject: RE: Whats your Debt? Zero, nada, zilch, no student loans, no car payments (used to have each) no mortgage, CC paid in full each month. aaahhhhhhhhhh....................... |
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