How much are you in debt? Be honest.

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Rumpltzer

Rumpltzer

Diamond Member
Jun 7, 2003
4,815
33
91
1) $0 I've never carried a balance or paid interest to a credit card company

2) <40% of my annual income on a car loan and student loans (3% APR on each)
 
A

Albis

Platinum Member
May 29, 2004
2,722
0
0
1) Zero

2) 30k (loans from undergrad and masters at 2.9% so I'll take my time to pay that off)
 
S

Suspicious-Teach8788

Lifer
Feb 19, 2001
20,155
23
81
1) ZERO. Parents pay for credit cards, plus they receive my statements, and they give me the OK. Pretty much it's just food and stuff that goes on the CC. Any gifts or my stuff I pay on my own, but if it's food, groceries, stuff I need for college, they pay.

2) Uhhh. not old enough? har. But yes I will be paying my parents back big time once I get a real job after graduating.
 
preslove

preslove

Lifer
Sep 10, 2003
16,754
64
91
Originally posted by: Ronstang
Originally posted by: toekramp
Originally posted by: Ronstang
Originally posted by: LtPage1
Originally posted by: Ronstang
ZERO....and I have always owed ZERO, unless you count a home mortgage.
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Which he is.

0 for me. Ask me after I'm done with school.
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Well it is still ZERO because I no longer have a mortgage as it has been paid off.
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where is the hugely jealous emoticon
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There is nothing to be jealous about. People in debt would not want my life because they want things NOW. I have always worked and saved and only purchased things I could afford to pay for with cash. That means a lot of restraint and learning to wait and do without sometimes, or extra work to provide the income to satisfy my wants. I have always had a positive balance in my bank/investment accounts since I was 8 years old. Saving and investing is key but that means putting off today so you can have more tomorrow and that is not what todays younger generations are all about.

I put myself through college and graduate school with my own money and never took out one loan. I have always saved money by training myself to do anything I need to do....I am kind of the "ultimate do-it-yourselfer". I learned how to work on cars when I was a young kid so I have NEVER had to pay anyone to fix ANY problems with ANY of the vehicles I have ever owned....including the newer computer controlled ones. I do all home improvement and repair. I do just about anything I need for myself. The amount of money that saves you is HUGE, but young people these days mostly don't want to learn to do for themselves....they want things handed to them.

Being debt free is a mindset that goes along with a lifestyle that does not meet the needs of most people today who simply have to have everything NOW. My parents always saved and invested since the day my father started working. Because of that we as a family lived on what remained after investing. I learned that lifestyle from my folks. Today my parents are retired living in complete luxury because they planned it that way. The minute my dad retired he changed his lifestyle to the affluent one he had saved and planned for since the time he was 16. We never went without but we also never had a lot of the luxuries other people in the same income bracket just had to have. I learned these things from him and have practiced them my whole life. I will never owe a dime except on a home mortgage.
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Are you Chuck Norris?







edit:

a. $0

b. ~$7,500 in student loans. I'm going to defer most of them during grad school.
 
shortylickens

shortylickens

No Lifer
Jul 15, 2003
80,287
17,081
136
Zero.
And I have 80 grand in the bank.

I learned early on to control my spending.
Of course, I've never been married.
 
N

necine

Diamond Member
Jan 25, 2005
3,631
0
0
about 500... will be paid at the end of the month.

about 5k in interest free student loans (still full time student)
 
G

GoingUp

Lifer
Jul 31, 2002
16,720
1
71
Just bought a place.

Mortgage = 140K
CCs = 10,100.
Student Loans = 22K

I have $3800 in the bank earmarked for my credit card bills, and I'm working overtime to pay off the rest. Should have another 2 grand of the bills paid off shortly as I worked a bunch of OT over the weekend. Zero percent interest on one until end of Feb. Other is zero percent interest until the middle of April. The april one is what I bought all of my furniture with. Student loans are deferred right now as I am back in Grad school. My student loan rate is also lower than what I make at ING, so I'm in no hurry to pay it off right now :)
 
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