how much debt you owe? now with POLL

[Engineer]

We put stuff on cc for miles but pay it off monthly.

I do it for the 1% and 5% rewards. Not to mention the protection that a CC can offer.

As for my timeline, I paid off my home on my 37th birthday and my cars two months later. I'm now 41 going on 42 (In January). Debt free about 4.5 years or so.

I know "Under 1k" is very low but I want a ZERO (0) on the poll! :biggrin:

 

[OILFIELDTRASH]

I like how 32% are completely debt free. Must be nice to be in your late teens/early twenties and have a couple houses paid for.

 

[Apple Of Sodom]

$380K house (primary mortgage)
$80K auto
$30K CC

CC debt gets paid off monthly but right now it is about $30K or somewhere in there (I use it for business too and charge everything... paying a $30K CC bill one month isn't uncommon.)

 

[dquan97]

$14k on car. no mortgage or cc

 

[Minerva]

The credit card cash back rewards are getting stingy now. Some don't allow you to pay utilities and pay other bills by phone like property taxes and stuff. I guess the smarter folks jumped on the bandwagon and put EVERYTHING on the card and paid the bill in full every month. :sneaky:

Casinos now charge a fee (3%) on CC advances because people would take out $10k bring it home and when their CC bill came pay it off and rake the points.

The big banks are getting shitty to with checking accounts. They want you to keep pretty tall balances on an account that earns 0 or infinitesimal interest.

 

[AstroManLuca]

About $90,000. Almost all student loans, with a couple cars (total amount owed on them isn't much though) and a tiny amount of CC debt.

 

[Rhoxed]

$0.0

Own car, no student loans

Rented a house for 12yrs, last year the landlords gave me the house - so paid off also

Im 23 btw, when i was 18 my mom passed away and my dad lost his job, i started paying rent for the house and a year later he and my brother moved out. So i havent technically paid the rent for 12yrs, but the land lords didnt seem to mind since it was the same family. (3br 2ba house on a barrier island in FL)

 

[roguerower]

Bout $16k. $10k owed to DFAS for my 1.5 years in ROTC, $3.5k owed to the Feds for student loan, and $2k owed to the bank for my motorcycle. No CC debt.

-Rent my apartment.
-Car is a 2001 Honda Civic that I got from parents when my dad moved overseas to Japan with the Marine Corps
-All school loans are on a 10 year plan
-Bike will be paid for come February next year

 

[PingSpike]

The only debt I have is a student loan.

Edit: How comes you guys are able to borrow so much money as a student loan?

That's easy. Thanks to lobbying, death is the only way to escape paying student loans. They'll get it eventually most likely.

 

[schneiderguy]

$14.98 on my credit card

 

[nageov3t]

$1,500 on my one credit card. it was $5K 2 months ago and should be 100% paid off this month ($1,000 of my paycheck on the 15th will go towards it and the remainder will come from my paycheck on the 30th)

I don't normally carry any significant balance from month to month, but between moving expenses and going on vacation, I let my credit card run up a bit high this summer. once it's paid off, I need to go back into debt to buy furniture from my apartment ($2-3,000... presumably I'll qualify for 12 months interest-free financing). once that is done, I'll finally be able to start building my savings up. I currently have enough in there that I could live off of it for 3 months (assuming absolutely no other income) but I'd love for that to really be 6-12 months.

 

[MotF Bane]

About 35k, all student loans.

 

[mizzou]

$0.0

Own car, no student loans

Rented a house for 12yrs, last year the landlords gave me the house - so paid off also

Im 23 btw, when i was 18 my mom passed away and my dad lost his job, i started paying rent for the house and a year later he and my brother moved out. So i havent technically paid the rent for 12yrs, but the land lords didnt seem to mind since it was the same family. (3br 2ba house on a barrier island in FL)

This sounds like the premise to a teary eyed romantic movie, you should write a book

 

[BoberFett]

Just mortgage, $270K or so.

 

[aphex]

Law School Loans + Cars + House = More than I care to admit

 

[BassBomb]

wheres the zero in pole?

 

[ch33zw1z]

~125k on a mortgage, and about 5k on a '09 Corolla. Never had a CC, don't plan on it.

 

[Engineer]

wheres the zero in pole?

I just jumped the gun and hit the 1k or less. Close enough I guess.

 

[NikolaeVarius]

Currently 70 bucks on my CC, about 30k on loans, and according to the National Debt Clock $44,218.51 to misc countries.[FONT=verdana,arial,helvetica][/FONT]

 

[Vic Vega]

$0.00

Cash or not at all.

 

[Engineer]

Currently 70 bucks on my CC, about 30k on loans, and according to the National Debt Clock $44,218.51 to misc countries.[FONT=verdana,arial,helvetica][/FONT]

LOL. Forgot about that one...but what the hell, I'll just pass it on to the next guy. The last guy did that to me.

 

[silverpig]

~100k total with my wife and I. Mostly student loans with some CC in there. Gonna be taking a decent chunk out of it soon (signing bonus woohoo!), and then I'll be out of school and in a good job. Won't have any problems paying it off.

 

[KaChow]

I do it for the 1% and 5% rewards. Not to mention the protection that a CC can offer.

As for my timeline, I paid off my home on my 37th birthday and my cars two months later. I'm now 41 going on 42 (In January). Debt free about 4.5 years or so.

I know "Under 1k" is very low but I want a ZERO (0) on the poll! :biggrin:

Pretty much the same for me. Paid off my house earlier this year, use the credit cards for the rewards and pay them off monthly and own my cars and motorcycles. I'll be 40 next week and I don't have any intent of doing anything requiring a loan for at least 10 more years when I get the hell out of the DC area...hopefully.

 

[Kirby]

bout $2.5k in a loan (just to build some credit, I've got it in a savings account and make payments from that), and about $4k to my parents

 

[Malak]

0

I ditched debt about 10 years ago.

I would love to do that. Probably at around $130k between car, mortgage, student loans, and misc. For most that probably doesn't seem bad, but I've been running from layoffs for 5 years and am unemployed right now, so it's pretty bad for me. Hopefully things will turn around soon, or house might disappear.