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YA(I Am Debt Free)T

D

DisgruntledVirus

Lifer
Well, as of Friday of last week I am now debt free with the exception of student loans. Since I'm still in college, and it's considered "good debt" but I'm just happy that I've paid all of my stuff off except for that. It's my next goal.

But, paid off 2 loans early, and have no CC debt 🙂
 
You are not debt free if you have student loans.

I am debt free except for rent but I am probably going to be on minimum wage July first.
 
It's one of the greatest feelings in the world. Although, I did run up $400 in the last couple of weeks buying tires. 🙂

I'll pay that off this Friday though.
 
DisgruntledVirus said:
Well, as of Friday of last week I am now debt free with the exception of student loans. Since I'm still in college, and it's considered "good debt" but I'm just happy that I've paid all of my stuff off except for that. It's my next goal.

But, paid off 2 loans early, and have no CC debt 🙂
Click to expand...

I am with you. I am debt free except the house and my wife's van. 🙂
 
waffleironhead said:
income with degree minus cost of education > income without degree

sounds like good debt to me.
Click to expand...
I can walk off my job at anytime and not have a collector after me EVER. Give that a try with your student loans. "But judge I have this degree isn't that GOOD debt" 😛
 
I don't know how student loans work over there, but in NZ they are interest free, and no repayments are due if your annual earnings are below about $19,000.
 
TheSlamma said:
I can walk off my job at anytime and not have a collector after me EVER. Give that a try with your student loans. "But judge I have this degree isn't that GOOD debt" 😛
Click to expand...
Um, you can get a hardship forbearance for a student loan. Walk off the job and you don't have to pay a penny on student loans for up to 3 years.

Lets see, with student loans you get:
1) Low interest rates,
2) forgiven if you die (or fit into many categories such as a teacher in an area of need),
3) payments can be delayed, or at least scheduled as you like,
4) interest is tax deductible, and
5) the debt usually raises your long term financial picture.
That is just about as good of a debt as you can get.
 
You're still in school? How old are you?

That being said, maybe I'm being callous, but that really doesn't sound all that impressive. Wait until you have a car payment, mortgage, home repairs, unexpected stuff that comes up... you know, the real world 🙂
 
NFS4 said:
You're still in school? How old are you?

That being said, maybe I'm being callous, but that really doesn't sound all that impressive. Wait until you have a car payment, mortgage, home repairs, unexpected stuff that comes up... you know, the real world 🙂
Click to expand...

Yep...
 
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