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How much personal debt do you have?

How much personal debt do you have?

  • None!

    Votes: 12 25.5%

  • Under $1,000

    Votes: 3 6.4%

  • $1,000-$5,000

    Votes: 7 14.9%

  • $5,000-$10,000

    Votes: 2 4.3%

  • $10,000-$25,000

    Votes: 6 12.8%

  • $25,000-$50,000

    Votes: 4 8.5%

  • $50,000-$75,000

    Votes: 1 2.1%

  • $75,000-$100,000

    Votes: 1 2.1%

  • $100,000-$200,000

    Votes: 7 14.9%

  • Over $200,000

    Votes: 4 8.5%
  • Total voters
    47
tryreading said:
About $8,000.00 outstanding, will have it paid off soon.

But the house is paid off, my wife's car is too, and I drive a company truck so no debt there. Very close to being debt free.
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Good job. I guess we won't be seeing you on that show ('til debt do us part), anytime soon. Does anyone ever watch that?

I'm really surprised at some of the responses here. The news I hear is that most people are drowning in debt. I'm not seeing that here at all.
 
40K on a home equity loan, will be paid off in 3 years or so.
2 houses, 3 cars (2000, 2002, 1980), all paid for.
200K in IRA savings accounts, and our current retirement income almost matches our best years working. That will go up a little when I turn 65 and start drawing from the one source I haven't tapped yet.
Never carried any debt other than mortgage or short term car loans.

Most valuable asset has been the wife that went to work (teacher) the same year the youngest child started first grade. We saved her income, lived on mine. She paid for our 2 kids college education once we got to that point.
Now we are living well on our social security retirements, her teacher retirement, my navy retirement, and a piddling company retirement.
I would like to take this opportunity to thank those of you who are still in the work force and are making voluntary contributions to social security.....THANKS, GUYS.....
 
Barbbtx said:
The news I hear is that most people are drowning in debt. I'm not seeing that here at all.
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I agree that most people are drowing in debt. I think it's safe to assume most wouldn't want to talk about it because they're embarrassed.
 
We refinanced the house that we bought in 2007 again a few months ago for 4.5% over thirty years. Let's just say between that and my student loans, we are very deep in debt.

My wife did that John Cummuta thing a while back. He had some good ideas, but they seemed like common-sense things, like don't carry a balance on your credit cards, buy used cars, put a little extra toward principal with your mortgage payment, etc.
 
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Mellie said:
I agree that most people are drowing in debt. I think it's safe to assume most wouldn't want to talk about it because they're embarrassed.
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Or - you know - there's a reason they call it "personal".
 
None. Though I do wish I was compiling some college debt.
 
soccerboy22 said:
And here I thought you libertarians were all about personal responsibility :).
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I have principles, but they are negotiable for the right price, and that price is surprisingly low ...
 
Your Star said:
As long as I can get a job with that degree ;)
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I'll give you the same guarantee of a job I got with my degree -- overqualified for most jobs, underqualified for the rest!
 
Mellie said:
If you're comfortable....how much personal debt do you have? Do you think you can be debt-free anytime soon? Do you follow a certain plan to achieve your financial goals?
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The only debt I have is my mortgage, which equals about 105,000.00. Granted, I don't drive a fancy car and my house is a four bedroom, modest 2000 sq ft, but that's the only true debt I have.
 
I'm looking at assuming about one million dollars in medical debt....And I thought grad school at NYU was expensive.
 
Our 2 kids are in good shape, both just owe money on their mortgage and one will be paying off her house early for sure. The other will have to wait til he gets promoted to Asst. Principal so he has enough extra money to pay down his mortgage. We help that family with their medical bills. Their problems are not their fault, you never know when one of your kids might come down with a serious long term illness.
The future is unpredictable, and preparing for it is too important to put off til later. Sounds like many posters here have the right idea. Once you get out of debt, life is a lot easier. You can't lose what you don't owe money on....
 
Coronado said:
I have principles, but they are negotiable for the right price, and that price is surprisingly low ...
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I like your style. If I knew I wouldn't have student loans from law school then I would take you up on your offer.
 
soccerboy22 said:
I like your style. If I knew I wouldn't have student loans from law school then I would take you up on your offer.
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You'll have all you can handle, trust me. Credit hours are more and books are a lot more.

Just be sure to use a little of that student loan money and buy two or three nice, properly tailored Italian suits. That's not just clothing, that's an investment.
 
1069 said:
It is a right, and it's free everywhere else in the industrialized world except the US.
It's not my fault my lame-ass country is behind the times, human rights-wise.
That doesn't mean I have to be. I'm free to just ignore them.
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Having watched good, hard-working people that played by the rules all of their lives, have everything they worked for, ripped off by greed-driven corporations after one single catastrophic medical crisis, I'm amazed that some people still defend a for profit system of stealing peoples wealth via denying them the health care that every other civilized nation on the planet do as routine.

Regressives' greed knows no bounds nor has any conscience.
 
Coronado said:
You'll have all you can handle, trust me. Credit hours are more and books are a lot more.

Just be sure to use a little of that student loan money and buy two or three nice, properly tailored Italian suits. That's not just clothing, that's an investment.
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My dad got me a really nice tailored suit when I turned 21 last year. He said it would be the most useful birthday present, aside from the laptop I got when I turned 18 and the tux I got when I turned 19.
 
Barbbtx said:
I'm really surprised at some of the responses here. The news I hear is that most people are drowning in debt. I'm not seeing that here at all.
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I would say that the majority of people in my neighborhood are drowning in debt. New cars, paid twice as much for their homes as I did, etc. I was just raised to be financially conservative, and not spend money that I don't have. My daughter (who is 16) is perfectly happy to drive a 1999 Hyundai Elantra that I paid cash for. I drive a 2001 Toyota Camry (also paid off).

My son asks me almost every day if we're poor. That's because most of the people around us are driving BMWs, Volvos, and other cars that they are in debt up to their eyebrows to afford. I tell him, no, that we OWN our cars, and my house will be paid off before he starts college. I also have pre-paid their college tuition since they were tiny. I figure that they can work to pay for books, and I'll help with living expenses.

I actually look forward to the day when everything is paid off and I can bank my mortgage payment in my retirement IRA.
 
soccerboy22 said:
My dad got me a really nice tailored suit when I turned 21 last year. He said it would be the most useful birthday present, aside from the laptop I got when I turned 18 and the tux I got when I turned 19.
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I have a really nice Armani suit tht I wear about once every three or so years.
 
winston53660 said:
I'm looking at assuming about one million dollars in medical debt....And I thought grad school at NYU was expensive.
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Ouch $1 million in medical debt

Unless you earn a great deal per year, how on earth will you be able to pay that back on top of other debts
 
Lord Tammerlain said:
Ouch $1 million in medical debt

Unless you earn a great deal per year, how on earth will you be able to pay that back on top of other debts
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I actually have no other debt. And right now I'm going on disability to help with upcoming medical finances.
 
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