Ever realized how much debt you are in?

[kranky]

Originally posted by: Linux23
Wow. I just paid off 12-14K in credit card bills in the last 3 months. I am transferring the remainder of the 7k to a card with a 1% APR and will wipe that clean before years in. Close to 20K in CC debt, paid off in about 6 months. I am really impressed with myself.

Oh and to top it off, I plan to buy a house, by myself in 2008 if I live. I'm finished being a financial moron, and it really is time for me to wakeup and finally grow up.

:beer: for you!

 

[tfinch2]

Originally posted by: nakedfrog
<div class="FTQUOTE"><begin quote>Originally posted by: Eli
<div class="FTQUOTE"><begin quote>Originally posted by: vi_edit
If you are making $15 an hour, that 5% is about $25 a week, or around $1200 a year. If the transmission in your car craps out that's your years savings wiped out.</end quote></div>And that is being generous.

People that work paycheck to paycheck don't make $15/hr.... 🙁
</end quote></div>

I know of families pulling in over $80k per year that live paycheck to paycheck, if that makes you feel any better. I know, it seems crazy, but it's true.

That's the way my GF's parents are. Thankfully she doesn't like to follow in their footsteps. I make about a third of what they do, am a full-time student, and I am more financially stable than they are.

 

[PrinceofWands]

11k in student loans. That's it. Even that bums me out though, since before going back to school I was debt free.

 

[mattocs]

80k on the house, 10k in auto loans, and 5k in CC. This is for the wife and I combined.

 

[tasmanian]

Originally posted by: SacrosanctFiend
Yup, $0.

 

[Cogman]

less then 7k for car loan. Thats it 🙂 I don't feel the burn yet (and have a pretty good computer too 🙂)

 

[Muadib]

I was at 0 CC debt, but I just charged a trip, so now I'm at 4k. I owe 10k on my car.

 

[halik]

Owe 9K on the car, but I'm selling it in the next couple of months. Just took out an 18K loan for gradschool, but thats about it.

 

[alien42]

i have never been in debt nor had a car payment. only money i 'owe' is for my mortgage.

 

[Squisher]

$175K on a house.

 

[Safeway]

Originally posted by: Muadib
I was at 0 CC debt, but I just charged a trip, so now I'm at 4k. I owe 10k on my car.

Why didn't you try to plan that trip for sometime in the future? Save up $4000 over a period of time and pay for the trip up front rather than pay off $6000+ on a credit card.

 

[skyking]

We nuked the mortgage in 2001 and have not had car payments since the 80's, but I still worry that I'm not adding ot the personal retirement fast enough.

 

[Megatomic]

Yes, every month when I pay a mortgage and two car loans. And the other bills...

 

[RadioHead84]

nope....


0 debt. I know when I buy a house and a new car i'll get in debt but I don't see myself ever buying beyond my means...so no worries.

 

[Suspicious-Teach8788]

I'll be in debt the day I move out of my parents' house. Remember Asian kids get their tuitions paid for, and as long as they're raking in cash they can live at home. Once they move out there's no more money =P

 

[NanoStuff]

Originally posted by: Safeway

Originally posted by: Muadib
I was at 0 CC debt, but I just charged a trip, so now I'm at 4k. I owe 10k on my car.

Why didn't you try to plan that tip for sometime in the future? Save up $4000 over a period of time and pay for the trip up front rather than pay off $6000+ on a credit card.

Because he's stupid, like the majority. CC companies love it.

 

[tfinch2]

Originally posted by: Safeway

Originally posted by: Muadib
I was at 0 CC debt, but I just charged a trip, so now I'm at 4k. I owe 10k on my car.

Why didn't you try to plan that trip for sometime in the future? Save up $4000 over a period of time and pay for the trip up front rather than pay off $6000+ on a credit card.

How do you know he's not going to pay off the CC bill when it's due?

I charge thousands on CC for the rewards.

 

[Safeway]

Originally posted by: tfinch2

Originally posted by: Safeway

Originally posted by: Muadib
I was at 0 CC debt, but I just charged a trip, so now I'm at 4k. I owe 10k on my car.

Why didn't you try to plan that trip for sometime in the future? Save up $4000 over a period of time and pay for the trip up front rather than pay off $6000+ on a credit card.

How do you know he's not going to pay off the CC bill when it's due?

I charge thousands on CC for the rewards.

The way he worded his post, he considers it credit card debt. I assumed (probably correctly) that paying it off in one billing cycle wasn't his plan.

 

[KingGheedora]

Just curious. Why do you have that much CC debt?

 

[Regs]

8k in school loans and another 12k in car loans.

So yeah.

Money does no good sitting around damnit!

 

[randomlinh]

more than i should have.

 

[akshatp]

Glad to say $0... But my wife has some minor cc debt which she is paying off, so I guess I can be held accountable for that... Whats mine is hers and Whats hers is mine, right? (Well in this case it is LOL)

 

[imported_Imp]

Over a grand after a crazy month of fulfilling dreams, goals and sad realizations.

 

[jadinolf]

Originally posted by: multiband8303
Almost 4k in credit card debt, and 3k in unsecured loans...7k in total....I feel terrible....

You look OK, though.

 

[Avalon]

$9K in student loans, $2500 for a car loan, and $800 on my CC. All three are slowly but surely shrinking.