Are you in debt?

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Fab1b's avatar

Fab1b

The Bald A-Hole!!

12,949 posts
Dec 9, 2009 10:24 PM
I mean credit cards, loans, cars payments? There was a time I was in major debt, the best thing that happened after my ex wife and I split was sell off everything and pay off it all. Outside rent, cable, phone, and electric I pay no further bills. Pay cash for it all. No car payments, loans, credit cards, nothing. Luckily I have a great job that pays well and I can rack up overtime when I need more cash. That my friends is the way to go!! Been that way for me the past couple of years and life is so much better/easy the past couple of years. Not to mention my savings accounts have blown up!! So how about you. Have debt, have a ton of debt?? What are you doing to fix that problem and get out of it?
Dec 9, 2009 10:24pm
Trueblue23's avatar

Trueblue23

BASEDgod

7,463 posts
Dec 9, 2009 10:25 PM
Basically just student loans here
Dec 9, 2009 10:25pm
se-alum's avatar

se-alum

The Biggest Boss

13,948 posts
Dec 9, 2009 10:25 PM
Hell yea!! It's the American Dream!!

Fab1=MPD??
Dec 9, 2009 10:25pm
Fab1b's avatar

Fab1b

The Bald A-Hole!!

12,949 posts
Dec 9, 2009 10:26 PM
Nope not MPD please give me some credit here!

But not credit I gotta pay back, LOL!
Dec 9, 2009 10:26pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Dec 9, 2009 10:26 PM
Let's see..where to start..

$60,000 on my house
$10,000 on one of my vehicles
$40,000 in student loans between me and the wife
$1,000 in credit cards
$17,000 in other loans

I'm gonna say yep..I'm in debt..what am I gonna do about it? Pay it off...slowly..as money allows.
Dec 9, 2009 10:26pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Dec 9, 2009 10:27 PM
I have no debt. My dad (and I) has been fortunate enough in his life to be able to pay for my college thus far, but this year I will be taking loans out for my last year and 2 quarters, so I will have some loans to pay back eventually.
Dec 9, 2009 10:27pm
H

h2thaizzo

Senior Member

256 posts
Dec 9, 2009 10:27 PM
I got some debt. Fab, you are in Fla, with a good job, may I ask what you do, and if it sounds good, how I can apply? :)
Dec 9, 2009 10:27pm
Fab1b's avatar

Fab1b

The Bald A-Hole!!

12,949 posts
Dec 9, 2009 10:28 PM
h2thaizzo wrote: I got some debt. Fab, you are in Fla, with a good job, may I ask what you do, and if it sounds good, how I can apply? :)
Statefarm.com is the only way to apply for State Farm though most jobs will be out of Bloomington, Illinois

I work for Statefarm, going on 11 years now. I maintain our Claim Center/Call Center/Quote and Bind Centers accross the country staffing to ensure we have people where we need them to service the policyholders.
Dec 9, 2009 10:28pm
MrPoke's avatar

MrPoke

Senior Member

348 posts
Dec 9, 2009 10:29 PM
50,000 from Grad and undergrad
8,000 in Credit card, basically had to live off a credit card for a semester in DC
2,000 on a car and that's all

Credit score is still god as well.
Dec 9, 2009 10:29pm
sleeper's avatar

sleeper

Legend

27,879 posts
Dec 9, 2009 10:29 PM
Zero debt. I am hood rich and you can take that to the bank.
Dec 9, 2009 10:29pm
stroups's avatar

stroups

Senior Member

3,223 posts
Dec 9, 2009 10:29 PM
around $40,000 for student loans but nothing else
Dec 9, 2009 10:29pm
se-alum's avatar

se-alum

The Biggest Boss

13,948 posts
Dec 9, 2009 10:33 PM
I don't see the problem w/ having debt. I work so I can have nice things, and that means debt. Sure, I could sell off everything, pay it off, and pay cash for stuff. However, I don't see the point in driving a $5,000 vehicle I paid cash for, when I can drive a much nicer $30,000 vehicle. My goal is to be debt free by the time I retire.
Dec 9, 2009 10:33pm
wes_mantooth's avatar

wes_mantooth

Tomfoolery & shenanigans

17,977 posts
Dec 9, 2009 10:33 PM
My kid is going to put me in debt.....braces this year...ugh.
Dec 9, 2009 10:33pm
R

raiderbuck

Senior Member

1,623 posts
Dec 9, 2009 10:33 PM
The only real debt I have is credit cards. About $3700 in CC's. I pay rent, car is paid off, no student loans.
Dec 9, 2009 10:33pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Dec 9, 2009 10:34 PM
Mortgage
Student loan
2 vehicle loans (0% interest on both)

No credit card debt.
Dec 9, 2009 10:34pm
GoChiefs's avatar

GoChiefs

Resident Maniac

16,754 posts
Dec 9, 2009 10:35 PM
se-alum wrote: I don't see the problem w/ having debt. I work so I can have nice things, and that means debt. Sure, I could sell off everything, pay it off, and pay cash for stuff. However, I don't see the point in driving a $5,000 vehicle I paid cash for, when I can drive a much nicer $30,000 vehicle. My goal is to be debt free by the time I retire.
Yeah..I don't care about debt either..as long as I bring in enough money to pay my bills on time every month and still have some left over..it's fine by me.
Dec 9, 2009 10:35pm
BuckeyeBlue's avatar

BuckeyeBlue

Senior Member

561 posts
Dec 9, 2009 10:37 PM
I have a little bit of debt, but nothing where I feel in over my head. That being said, I plan on being debt free within 10 years.
Dec 9, 2009 10:37pm
Fab1b's avatar

Fab1b

The Bald A-Hole!!

12,949 posts
Dec 9, 2009 10:39 PM
I am not saying there is anything wrong with it, especially if you can pay your bills and still have money in your pocket. I was just saying what is working for me and how much I enjoy not having the bills to pay, thats all. Now those that have tons of debt but can't pay it, those are the people that should be finding ways to get it down. Too many people in this country lived or live well beyond their means and that is part of crisis now and there was a time I certainly was part of that! Now I live above my means by making the cash to pay it off in full when I buy.
Dec 9, 2009 10:39pm
Trueblue23's avatar

Trueblue23

BASEDgod

7,463 posts
Dec 9, 2009 10:40 PM
wes_mantooth wrote: My kid is going to put me in debt.....braces this year...ugh.
Good luck with that one man.. cost my parents about $2,000 dollars for my braces..

Make your kid take damn good care of them. I refused to wear a mouthpiece while playing basketball, you have no idea how many times I had my braces messed up from getting elbowed and stuff like that.
Dec 9, 2009 10:40pm
Terry_Tate's avatar

Terry_Tate

Senior Member

7,606 posts
Dec 9, 2009 10:40 PM
70K in student loans
11K left on car loan
<2K on credit card

Got the credit card to basically build credit. I have a well-paying job and have paid over 6K in principal in the last year, paying well over the minimum on the loans at some points. I've been paying the minimum lately to build up cash to buy a house and get the 8K first-time home buyer credit and I want to use part of that to help pay some more off. My goal is to have the car and the lesser of my 2 student loans(16K) paid off in 2.5-3 years so I can hammer the rest of my student loans. Once I get past those 2 I will be clear sailing.
Dec 9, 2009 10:40pm
Firad's avatar

Firad

Senior Member

1,525 posts
Dec 9, 2009 10:47 PM
Just student loans as I am a sophomore in college.
Dec 9, 2009 10:47pm
gorocks99's avatar

gorocks99

Senior Member

10,760 posts
Dec 9, 2009 10:55 PM
~$70,000 in student loans, undergrad and grad school.
Dec 9, 2009 10:55pm
Curly J's avatar

Curly J

Self Pwner in Training.

7,282 posts
Dec 9, 2009 10:59 PM
Just my Condo and my Jeep. Got credit cards, but they are paid off. Good thing because I have to help pay for my Daughter's wedding in April.
Dec 9, 2009 10:59pm
I

I Wear Pants

Senior Member

16,223 posts
Dec 9, 2009 11:13 PM
Student Loans are the debt that I have.

Although because of this whole financial meltdown debt is getting a worse rap than it needs to have.

Companies cannot get buy without incurring debt at different times and a some durable goods like cars and houses would be incredibly difficult for the average person to obtain without taking on some debt. Although I think it's obvious that debt needs to be kept in check or else it can run your life.
Dec 9, 2009 11:13pm
Cat Food Flambe''s avatar

Cat Food Flambe'

Senior Member

1,230 posts
Dec 9, 2009 11:16 PM
Still have $80K on a 20 year mortgage , which will be paid off in 9 years at 5.25%. One week's take-home pay for Lady D'Friskies and I will cover the monthly payment. Many thanks to my parents, who paid for five years of college tuition (-and- dorm/board fees for the first two years), and also advanced/gifted me the portion of tuition my employer didn't cover for a second degree when I was in my thirties. I was -very- fortunate, and I fully appreciate it.

Other than that - zip. And that's after 11 kid-years of college since 2004 - of course, I'm still driving a 2001 Windstar minivan. Dave Ramsey would be proud. :)
Dec 9, 2009 11:16pm