Debt

[Narrock]

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]

None.

Then again, I still live with my parents.

[dammuzis]

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

[Narrock]

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]

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]

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

[Tossica]

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

[Scoota McGee]

$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

[labbats]

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

[Jennay]

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]

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

[Martrae]

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]

No debt but no house (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]

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

[Ganzo]

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

[Lyion]

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]

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]

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]

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]

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]

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

[Narrock]

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

[Ciladan]

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.