I'm completely out of debt!!!

[E equals MC2]

It was as bad as $8K at one point. Now it's zerrrrrroooooooooooo. Also my car's paid off last month!!

Time to save up!

[edit]
well not counting student loan ($12K), but those are good debts so they can wait.

 

[child of wonder]

Congrats!

 

[Joemonkey]

Originally posted by: E equals MC2
[edit]
well not counting student loan ($12K), but those are good debts so they can wait.

So... if you had a mortgage would you not count your house either because it is a "good"? debt is debt

 

[E equals MC2]

Originally posted by: Joemonkey

Originally posted by: E equals MC2
[edit]
well not counting student loan ($12K), but those are good debts so they can wait.

So... if you had a mortgage would you not count your house either because it is a "good"? debt is debt

please do not ruin my moment.

 

[Gunslinger08]

Same here. Paid off my car a month ago. Now I'm saving for a house.

 

[xeemzor]

Congrats!

 

[tdcarrol]

Congratulations. I'm paying of my car this month myself.

 

[Vette73]

Originally posted by: Joemonkey

Originally posted by: E equals MC2
[edit]
well not counting student loan ($12K), but those are good debts so they can wait.

So... if you had a mortgage would you not count your house either because it is a "good"? debt is debt

Student loans can be written off, usually have very low rates, and some jobs will help pay them.

i got about 4k last year to put toward my SL and i wrote off the interest. So I consider myself debt free minues the house and SL's as well.


Good for you OP. Now don't go mess it up. :thumbsup:

 

[TheKub]

Congrats!

 

[Kelemvor]

What the hell is a Good debt?

 

[lokiju]

Shit I wish I only had $8k in debt

 

[Modelworks]

Congrats !
I'm out of debt as well.
Every now and then I see some new item I would like to have, but then I start thinking about the payments every month.

Free of debt and I love it.

 

[Ktulu]

I thought everyone on ATOT was already debt free.

 

[Kelemvor]

Originally posted by: Ktulu
I thought everyone on ATOT was already debt free.

I will be once all my rebates come in.

heh heh j/k

 

[ItsPat]

Sounds like its time for you to buy a hot tub.

 

[Homerboy]

Originally posted by: Ktulu
I thought everyone on ATOT was already debt free.

AND FLAWLESS!!!


$12K in student loans hey? We collect on people like that every day.

 

[ViviTheMage]

hahaha, only as bad as 8k?

 

[jonks]

Congratulations! You've won an all expense paid trip for 2 to Miami, Florida! Please respond by PM with your address and credit card number (for damage deposit only) and we will contact you with more information. Once again, congratulations!

 

[tidehigh]

Originally posted by: Kelemvor
What the hell is a Good debt?

debt that has an interest rate less than or equal to how much you can make in interest with the capital/cash you have.

why pay it off when you can make more money by not paying it off?

 

[jorken]

Boosh!

 

[MaxDepth]

Well, if we are going to compare good debt versus bad debt, then mine is:

$108K left on the mortgage (good)
$3,128 in old credit card, bill debt. (bad)

I look to pay off the old stuff by July 10 of this year. Yeah, it will be great to have that off my mind forever. Other than that, no other loans or car payments.

 

[sdifox]

Originally posted by: tidehigh

Originally posted by: Kelemvor
What the hell is a Good debt?

debt that has an interest rate less than or equal to how much you can make in interest with the capital/cash you have.

why pay it off when you can make more money by not paying it off?

because paying debt does not incur the wrath of irs, such as capital gain does.

 

[Ns1]

I can't wait to be out of debt so I can buy a nice shiny minicooperS

 

[tidehigh]

good point. if you owe 500k on your mortgage over 10 years and you have enough cash to pay it off. i think in most instances you'd be better off keeping the cash and investing it and just making you payments. obviously i'm no expert

 

[sdifox]

maybe you should change the topic to I am completely out of car debt.