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how much debt you owe? now with POLL

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how much debt you owe? not factorig equity

  • under 1k

  • 1k to 10k

  • 11k to 25k

  • 26k to 50k

  • 51k to 100k

  • 101k to 200k

  • 201k to 400k

  • 401k to 600k

  • 601k to 999k

  • over one million bajeesus

Results are only viewable after voting.
RaistlinZ said:
$0.00

It's funny how people can't fathom how others can be debt free.

No... we aren't kids living in our parents' basements.

No... we aren't rich jerks who inherited all of our money.

I'm 30 and debt free. Paid off my credit card and student loans last year. I'm currently saving for a house and will pay that 100% cash when I do (I'm still years away from that being a reality though). Obviously, it will be an inexpensive starter home, but I'm fine with that.

Oh, I'm also single with no kids. I think that has helped me stay debt free more than anything. 😎
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It's also funny that everyone with debt = some irresposnible credit card feign.

I guess I forgot the two years between 26 and 28, after I paid off my student loans, and before I bought my house. And yes, I was single with no kids. damn what a laid back life that was, hard to even imagine it now.

The majority of us do take quite some time to pay down mortgages. (my only debt now is a mortgage) another $6k if you count wife's car.

Even though I do plan on paying off the mortgage WAY EARLY, that's still at least 5-10 years away.
 
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Probably 20-25k including interest. Will most likely have to take out another loan to finish school 🙁
 
$0 but then I'm not in a normal position. Still live at home with the parents rent free at 28 and have few if any other expenses, even food for the most part. At least I have saved about $55k over the years so when I decide to go back to university my degree will be paid for by myself.
 
About $2600 in credit card. More than half of that are no interest financing plans at stores. Other expenses are either school related or food so not that bad.
 
Have house mortgage @ 518K, car loan @ 19K with 0% APR, student loan 2K, credit card 1.5K....

Gonna add student loans in two years (~50K) since I will be going back to school. But i will pay the current student load and the cc by the end of the year.
 
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getting divorced will lengthen up your debt years, believe me 😀

might have almost been out of the hole completely in a few years 0_0

with only my income, i'll be in debt until i die. it's all good 🙂
 
ichy said:
I owe about $156k on my mortgage. The interest rate is low enough that I'll probably pay it off as slowly as possible, since the interest rate on my reward checking account is almost as high as the interest on my mortgage. If interest rates ever go back up I'll really be laughing, since it'll probably be possible to get CDs that pay better rates than my mortgage interest rate.

One thing I don't understand is how people get into 10, 20 or 30k of debt for a car. Makes me shake my head. I bought my car used with cash for $4k, and I intend to drive it into the ground. If I have enough saved to buy a decent newish car with cash when my current one dies then that's great, but if not I'd never consider getting a car loan. I'll just buy another cheap beater.
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Because someone has different priorities than you?
 
$0.

New vehicle paid in full with cash. Student loan paid in full and on time. Always paid CC bills before due date. At least 6 months emergency fund and a nice sum of changes in my 401k/investments.

<<<--- expenses < incomes/revenues = FTW. 🙂

And no, I have been on my own for years, I came to the US as a LEGAL immigrant with nothing. It does help that I am single and no kid plus I only smoke/drink socially and I am in my 30s.

I have my 20&#37; down payment for a nice house up and ready, just waiting for that day..one of these days to pull the trigger.
 
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Locut0s said:
$0 but then I'm not in a normal position. Still live at home with the parents rent free at 28 and have few if any other expenses, even food for the most part. At least I have saved about $55k over the years so when I decide to go back to university my degree will be paid for by myself.
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Move out already FFS 😛

Seriously though, living on your own and establishing some independence does dramatically more for your life enjoyment than having a huge amount of savings. Trust me.

/just some friendly advice from a self-admitted tightwad 🙂
 
Eos said:
ichy said:
I owe about $156k on my mortgage. The interest rate is low enough that I'll probably pay it off as slowly as possible, since the interest rate on my reward checking account is almost as high as the interest on my mortgage. If interest rates ever go back up I'll really be laughing, since it'll probably be possible to get CDs that pay better rates than my mortgage interest rate.

One thing I don't understand is how people get into 10, 20 or 30k of debt for a car. Makes me shake my head. I bought my car used with cash for $4k, and I intend to drive it into the ground. If I have enough saved to buy a decent newish car with cash when my current one dies then that's great, but if not I'd never consider getting a car loan. I'll just buy another cheap beater.
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Because someone is stupid, has terrible priorities, and doesn't know how to manage their money any better than a teenager?
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Fixed.
 
InflatableBuddha said:
Move out already FFS 😛

Seriously though, living on your own and establishing some independence does dramatically more for your life enjoyment than having a huge amount of savings. Trust me.

/just some friendly advice from a self-admitted tightwad 🙂
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😀 I will... one day 😛
 
Mortgage, about 280k, truck I think about 15k left (0% no hurry) and about 7k on the cc.
 
$0. I live at home, drive a 12 yr old car, and my college is paid for. (my parents saved up a good 50 grand for my college. It has to last at least through my MA I've used a lot of that so far.)
 
Around $7500 in student loans. I'm European so I buy things for the money I have, rather than for money I don't have.
 
Eos said:
Because someone has different priorities than you?
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Different priorities would mean using "fun money" on something different than I do. Going $30k into debt for a depreciating asset is pretty irresponsible for the typical middle-class American.
 
28

Been debt free for almost 3 years.

Been living on my own since 2001.

Paid my own way through college.

That's right kids, it can be done!
 
ichy said:
Different priorities would mean using "fun money" on something different than I do. Going $30k into debt for a depreciating asset is pretty irresponsible for the typical middle-class American.
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Depends on the interest rate, IMO. Some people are getting 0% car loans, or close to it. Buying a car on uber low interest is like MAKING money versus buying it in cash.
 
Train said:
Depends on the interest rate, IMO. Some people are getting 0% car loans, or close to it. Buying a car on uber low interest is like MAKING money versus buying it in cash.
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Unless they offer you $X000 cash back or 0% financing like they often do. Then you're still throwing money away.
 
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