How deep in debt are you!? - Page 5

pauldun170 · 11-30-2009, 03:32 PM

Gotta mortgage and some money on the line of credit
No credit card debt
All vehicles are paid for..

Based on current conditions in the housing market, we're in good shape with all those funky ratios. Would like to stop writing tuition checks as that is my biggest drain right now.

sherri_chickie · 11-30-2009, 03:36 PM

We owe a bit on my jeep but I have paid it off in 3 years I could pay it off bur we are stockpiling for when I go on maternity and family leave. By the time baby comes we will have no debt. Also we are putting extra on the mortgage.

racedoll · 11-30-2009, 05:44 PM

Pre-April very little <$5K.
Post-April >$20K due to a new car purchase.

No student loans, school was paid as I went. No scholarships or government assistance. Work did help the last 3.5 years but prior to that was mostly out of my pocket.

TYEster · 11-30-2009, 06:44 PM

I'll say I owe some money. 1 house, 1 car, 1 credit card, it's math.

Captain Morgan · 11-30-2009, 06:45 PM

Since you aren't counting mortgage, you could say I'm $2300 in debt, but I don't really look at it that way. It's 0% interest and I could pay it off right now if I wanted to, but I don't really see the point. However, $1100 of it is due after the first of the year, so I'll be paying it off then. The other $1200 is 0% interest until 2014, so that won't be paid off anytime soon.

If you want to count mortgage, I'd be about 53 or 54k in debt. Not really worried about that either, since my mortgage payment, plus insurance, plus taxes is all less than I'd pay in rent for an apartment this size. Also, like you said, I'm building equity in the house by fixing it up, especially since I'm doing most of the work myself. Only things I've hired out are carpet and tile installation, but I did all the prepwork for both.

I try my best to live beneath my means since I've been in bad shape a couple times. I've managed to dig myself out each time, but don't want to get into that boat ever again, which is the biggest reason I'm still bikeless. I could have bought a bike a couple years ago, but to me (as much as I love having one), motorcycles are luxury items and I refuse to go into debt for a luxury. I'm also kind of stubborn and want exactly the bike I like, rather than settling for less. Not much longer, though.

t-homo · 11-30-2009, 06:49 PM

glad to hear it capn.

Amber Lamps · 11-30-2009, 07:06 PM

Shit! I don't know if you are counting medical debts... since I decided that fighting cancer was a legitimate reason to incur some bills... Well, guess what? I applied for assistance from VA and was approved so... debt free!!!! Wooo hoo!!! You guys were right about not worrying about it!

MissHell · 11-30-2009, 07:07 PM

This thread is making me ill. I have too much debt.

Amber Lamps · 11-30-2009, 07:08 PM

Quote:

Originally Posted by MissHell

This thread is making me ill. I have too much debt.

Well... I can think of a few ways you could earn some extra dough, baby....

Maybe a part time job?

Papa_Complex · 11-30-2009, 07:20 PM

What, no category for people who have a positive liquid worth?

View Poll Results: How much?
0-5k	20	27.03%
5k-10k	10	13.51%
10k-20k	11	14.86%
20k-30k	11	14.86%
30k-50k	12	16.22%
50k-75k	5	6.76%
75k-100k	1	1.35%
100k-150k	3	4.05%
150k+	1	1.35%
Voters: 74. You may not vote on this poll

11-30-2009, 07:20 PM	#10
Papa_Complex Nomadic Tribesman Join Date: Nov 2008 Location: Brampton, Canada Moto: '09 ER-6n Posts: 11,150	What, no category for people who have a positive liquid worth? __________________ "Everything's better with pirates." - Lodge, "Dorkness Rising" http://www.morallyambiguous.net/

11-30-2009, 03:36 PM	#2
sherri_chickie WERA Yellow Plate Join Date: Nov 2009 Location: Calgary Moto: Gs500F Posts: 683	We owe a bit on my jeep but I have paid it off in 3 years I could pay it off bur we are stockpiling for when I go on maternity and family leave. By the time baby comes we will have no debt. Also we are putting extra on the mortgage.

11-30-2009, 05:44 PM	#3
racedoll AMA Supersport Join Date: Nov 2008 Moto: '04 Kawasaki ZX6RR Posts: 3,392	Pre-April very little <$5K. Post-April >$20K due to a new car purchase. No student loans, school was paid as I went. No scholarships or government assistance. Work did help the last 3.5 years but prior to that was mostly out of my pocket.

11-30-2009, 06:44 PM	#4
TYEster With MORE TYEstosterone Join Date: Dec 2008 Location: TX Moto: '12 KX450F / 08 YZ250F #512 / 07 KX65 #1 Posts: 1,429	I'll say I owe some money. 1 house, 1 car, 1 credit card, it's math.

11-30-2009, 06:45 PM	#5
Captain Morgan Let's do another U-turn Join Date: Feb 2008 Location: Indiana Moto: 2009 V-Strom Posts: 3,816	Since you aren't counting mortgage, you could say I'm $2300 in debt, but I don't really look at it that way. It's 0% interest and I could pay it off right now if I wanted to, but I don't really see the point. However, $1100 of it is due after the first of the year, so I'll be paying it off then. The other $1200 is 0% interest until 2014, so that won't be paid off anytime soon. If you want to count mortgage, I'd be about 53 or 54k in debt. Not really worried about that either, since my mortgage payment, plus insurance, plus taxes is all less than I'd pay in rent for an apartment this size. Also, like you said, I'm building equity in the house by fixing it up, especially since I'm doing most of the work myself. Only things I've hired out are carpet and tile installation, but I did all the prepwork for both. I try my best to live beneath my means since I've been in bad shape a couple times. I've managed to dig myself out each time, but don't want to get into that boat ever again, which is the biggest reason I'm still bikeless. I could have bought a bike a couple years ago, but to me (as much as I love having one), motorcycles are luxury items and I refuse to go into debt for a luxury. I'm also kind of stubborn and want exactly the bike I like, rather than settling for less. Not much longer, though.

11-30-2009, 06:49 PM	#6
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	glad to hear it capn.

11-30-2009, 07:06 PM	#7
Amber Lamps Moto GP Star Join Date: Mar 2008 Posts: 14,556	Shit! I don't know if you are counting medical debts... since I decided that fighting cancer was a legitimate reason to incur some bills... Well, guess what? I applied for assistance from VA and was approved so... debt free!!!! Wooo hoo!!! You guys were right about not worrying about it!

11-30-2009, 07:07 PM	#8
MissHell Followed the crowd over. Join Date: Nov 2008 Location: Hawaii Moto: '07 Yahama R6 Posts: 911	This thread is making me ill. I have too much debt.