Debt

Narrock · Post by **Narrock** » Mon May 16, 2005 9:42 pm

How much do you have? Exclude mortgages. I want to hear about car payments, revolving lines of credit, etc. Or is this too personal? Are some of you embarrassed? Maybe somebody has a good method to keep debt down. I had a few credit cards, but I paid them all down starting with the one that had the highest interest rate, and now I only have like $600 in total revolving debt. My car payment is $330. The rest of my money goes to a 401k, savings, and tithe.

Yamori · Post by **Yamori** » Mon May 16, 2005 9:45 pm

None.

Then again, I still live with my parents.

dammuzis · Post by **dammuzis** » Mon May 16, 2005 10:06 pm

my mortage is paid off my car is paid off and i have no credit card debt

Narrock · Post by **Narrock** » Mon May 16, 2005 10:26 pm

dammuzis wrote:my mortage is paid off my car is paid off and i have no credit card debt

That's a good place to be.

Captain Insano · Post by **Captain Insano** » Mon May 16, 2005 11:05 pm

Mindia wrote:How much do you have? Exclude mortgages. I want to hear about car payments, revolving lines of credit, etc. Or is this too personal? Are some of you embarrassed? Maybe somebody has a good method to keep debt down. I had a few credit cards, but I paid them all down starting with the one that had the highest interest rate, and now I only have like $600 in total revolving debt. My car payment is $330. The rest of my money goes to a 401k, savings, and tithe.

edit....

first number should have read 100..

I have about 100k on various credit right now....

I don't own a house either.

But it represents about 130k in product I am in the process of selling. It's scary to think about sometimes but making big money takes big risk.

Tikker · Post by **Tikker** » Tue May 17, 2005 12:00 am

i've still got abnout 75k to go on mortage

15k to go on the Jeep

and credit card balances that fluctuates between 500 and 1500 depending on the neato stuff I find to waste money on

Post by **Tossica** » Tue May 17, 2005 12:13 am

I'm about $230K in debt, my house is worth about $230K so I figure I am even. :dunno:

Scoota McGee · Post by **Scoota McGee** » Tue May 17, 2005 1:31 am

$120k left on the mortgage

Truck = paid

School loans = paid

I live on my credit card here but pay it off every month so about $2000 in revolving credit... go go corporate Amex.

I have my own system of tithing as well. Every month I take all the cash I earned for that month and throw it up in the air. Whatever Jesus wants he keeps. Whatever falls back to Earth is mine. That and I give to the United Way in Austin every year :wink:

labbats · Post by **labbats** » Tue May 17, 2005 5:56 am

$30k in student loans still. Everything else is paid.

Jennay · Post by **Jennay** » Tue May 17, 2005 6:06 am

Hmm well we're in kinda deep but who really cares :P It's just money right?

Bought a house in Sept = $230k (We only have about $10k in it so far but that's principal *sigh* )
His car = paid off
My car = 7kish left on it
credit cards = about $10k (from vacations, new furniture, stuff, entertainment, etc )

We had about 8 different credit cards between us so what we did was took out a low fixed interest loan to pay off most of them, so now we just have that loan (which it's interest is WAY less than the cards) and like 2 or 3 cards, but those are my Target visa, Kohl's, and the really low rate one we use for when we go out. We just dropped about 1k on a patio furniture set I wanted, and we're looking at getting a motorcycle this summer. Nothing big, probably just a Honda 750 cruiser. I gotta go get my cycle endorsement

Jirig · Post by **Jirig** » Tue May 17, 2005 6:40 am

House = paid.
Car = paid.
Credit cards = none.
Student loans = 4,200 left.

Post by **Martrae** » Tue May 17, 2005 6:42 am

So you're falling into the trap of paying off you cards with a loan and then working on maxing out the cards again? You'd be better off saving the cash up for the motorcycle and not using cards for anything.

Eziekial · Post by **Eziekial** » Tue May 17, 2005 6:57 am

No debt

but no house :cry:

(yet)
If anyone wants any advice on this, let me know. I use to be a licensed financial planner. It may be dated info, but it will be free

Jennay · Post by **Jennay** » Tue May 17, 2005 7:01 am

So you're falling into the trap of paying off you cards with a loan and then working on maxing out the cards again? You'd be better off saving the cash up for the motorcycle and not using cards for anything.

We already paid off the balance from the patio furniture and will be using cash for the motorcycle. The Target, Kohl's and remaining card have close to no balance on them, and the loan is a very much lower rate than any of the old cards, and is fixxed to pay off in 3 years. We actually have less money going out a month on bills than before.. so it's saving us money! After the 3 years, we'll only keep the 3 and pay them off each month... and that's because I like Target, I like shopping at Kohl's and getting a discount with the charge card, and because most places only take credit card when you're on vacation

Don't worry, we're ok

Post by **Ganzo** » Tue May 17, 2005 7:01 am

around 60k combined on mortgages for house and 2 rentals, about 5k on truck, no cards or loans

Post by **Lyion** » Tue May 17, 2005 7:31 am

210k on my house and its worth about 300k.

18k left on my truck, 3 years of payments at 500, but it's a 2004.

About 5k in Credit Cards which should be paid off by the time Christmas rolls around to rack them up again on the next zero interest deal I get.

Gypsiyee · Post by **Gypsiyee** » Tue May 17, 2005 7:59 am

About 30k on our house

His truck about 3k

1 more payment on his credit card

175 on my Kohl's card, about 80 on my MC, so 2 more payments for me

No car payments for me currently, although I will fairly soon

School will be about 2k, that'll start in August

We'll be buying 10 acres soon (putting the offer in within the next month) 85k for that, then building a house on that 10 acres, which will be material cost only, permits and whatnot, septic hookup, etc (god bless knowing someone in every construction profession) so about 30-50k or so there

Currently, debt isn't so bad - it's planning for the debt to come that's taxing!

Diabolik · Post by **Diabolik** » Tue May 17, 2005 8:28 am

2.5k on a Searscharge Plus, 8k on our car (1999b Jetta).

10.5k debt down from 15.5k this time last year. By December, I'll be down to 6 or 7k.

Narrock · Post by **Narrock** » Tue May 17, 2005 8:56 am

Here's a tip from a loan officer. Kizzy might want to comment on this too. This loan officer friend of mine said that credit cards are actually good for your credit as long as you don't exceed 30% of the total credit line. Department store cards hurt your credit rating. That's what he told me. I closed my Target, Wal-Mart, and Macy's accounts, but I love Sears and Sam's Club so I left those two open anyway.

10sun · Post by **10sun** » Tue May 17, 2005 11:24 am

Zero debt.

But I have a speeding ticket I need to pay.

I own my house, truck, and everything else between the two free and clear now.

I might be trading my truck in soon and going into debt for a new vehicle as my transmission is going out in my truck =(

veeneedefeesh · Post by **veeneedefeesh** » Tue May 17, 2005 11:30 am

Owe about 6K on my car, other than that I'm clear

Narrock · Post by **Narrock** » Tue May 17, 2005 12:43 pm

Oh, and I'll have a $10,500 student loan to pay back soon

Ciladan · Post by **Ciladan** » Tue May 17, 2005 1:09 pm

2.5k credit card debt, it was worse before, but I'm taking it out chunk by chunk. I can blame my ex for racking it up but I was the one with the signature. It was my own stupid fault.

namelesstavern.net

Debt

Debt

Re: Debt