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How much do you owe?

Home ▸ Archive ▸ Serious Business ▸ How much do you owe?
Sykotyk's avatar

Sykotyk

Senior Member

1,155 posts
Jun 30, 2012 7:46 PM
Between the house, credit cards, business debt, etc, I owe about $100k. Should have it paid off by next fall at earliest.
Jun 30, 2012 7:46pm
Q

queencitybuckeye

Senior Member

7,117 posts
Jun 30, 2012 7:47 PM
$145K on a mortgage. At 2.75%, I'm not paying it two minutes early.
Jun 30, 2012 7:47pm
Cat Food Flambe''s avatar

Cat Food Flambe'

Senior Member

1,230 posts
Jun 30, 2012 8:09 PM
Belly35;1215966 wrote:We took the Dave Ramsey plannig course a year ago.
Between my wife and I our personal total debt including everything we will be dedt free in 5 years.
The two companies can be sold or closed with no lose of money.... Walk away
If I sell them now we are talking addition funds.

I will still work I have no plans to retire anytime soon the deft free is a nice goal and feeling to accomplish
Belly - I conduct one of his courses once a year - while I don't agree with EVERY detail (It's just not possible to travel without a credit card unless you keep $25,000 in your debit-card accessible checking account), it's a great way to learn how to manage your money and understand the true cost of debt. I wish that I had taken it thirty years ago - it would have saved me a lot of stress.
Jun 30, 2012 8:09pm
J

jmog

Senior Member

6,567 posts
Jun 30, 2012 8:19 PM
Definitely did the Dave Ramsey "debt snowball" to get to this point.

In the last two years we have paid off $15k worth of CC debt, and about $20k worth of car loan debt.

Next will be house, but will take about 4 years to save up the cash.
Jun 30, 2012 8:19pm
gorocks99's avatar

gorocks99

Senior Member

10,760 posts
Jun 30, 2012 8:21 PM
~$75k in student loans
Jun 30, 2012 8:21pm
Glory Days's avatar

Glory Days

Senior Member

7,809 posts
Jun 30, 2012 8:30 PM
0$
Jun 30, 2012 8:30pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jun 30, 2012 10:35 PM
Cat Food Flambe';1215988 wrote:Belly - I conduct one of his courses once a year - while I don't agree with EVERY detail (It's just not possible to travel without a credit card unless you keep $25,000 in your debit-card accessible checking account), it's a great way to learn how to manage your money and understand the true cost of debt. I wish that I had taken it thirty years ago - it would have saved me a lot of stress.
I agree. I wasted so much money
Jun 30, 2012 10:35pm
THE4RINGZ's avatar

THE4RINGZ

R.I.P Thread Bomber

16,816 posts
Jun 30, 2012 10:42 PM
We owe about $90,000 on house valued at approx. $225,000. No other debt. Paid cash for our cars, and don't have a credit card.
Jun 30, 2012 10:42pm
G

gut

Senior Member

15,058 posts
Jun 30, 2012 10:48 PM
There's something ironic about people wasting money to take a class on how not to waste money.
Jun 30, 2012 10:48pm
Cat Food Flambe''s avatar

Cat Food Flambe'

Senior Member

1,230 posts
Jun 30, 2012 11:12 PM
gut;1216040 wrote:There's something ironic about people wasting money to take a class on how not to waste money.
Actually, we don't charge for the course, and his organization gives us the material at production cost.

I usually do this for couple of churches in the Hilltop section of Columbus. Sadly, my guess is that 75% of the adults don't have the slightest idea of how they truly spend their money, or have any knowledge of how to control it. It's very common to see people who don't even realize they're paying 30%-40% interest on "buy here pay here" car loans - just drop the payment by $20 a month and extend the load period by 12 months, and they think they're getting the bargain of the century. For these people, being taught how to manage the their basic finances in a clear and understandable way is not wasted money. Ramsey isn't teaching anything approaching rocket science - but he -is- able to reach out to people in a manner that almost everyone can identify with.

If I had my way, you should not be allowed to graduate from high school unless you could balance a checkbook and figure interest on a loan.
Jun 30, 2012 11:12pm
M

mella

Senior Member

647 posts
Jun 30, 2012 11:20 PM
Dave Ramsey rocks, the radio show is free. Started with the envelopes to keep track of spending, moved on to the debt snowball, and some luck. I agree, wish I started this plan 20 years ago.
Jun 30, 2012 11:20pm
J

jmog

Senior Member

6,567 posts
Jul 1, 2012 1:47 AM
gut;1216040 wrote:There's something ironic about people wasting money to take a class on how not to waste money.
Then you don't understand such a thing as return on investment (which drives most businesses by the way). I never paid for a Ramsey course, googled the basics and figured it out on my own.

However, if one spends $50 on a course and using those basics saves themselves $10,000 over years in interest, it was worth the original $50.
Jul 1, 2012 1:47am
4cards's avatar

4cards

Ohio Chatter Legend

2,551 posts
Jul 1, 2012 7:50 AM
...just a hundred something on my wifes leased car every month and that's it. Home is paid for, no credit card debt, and my sons last semister at YSU in the fall is already paid.
Jul 1, 2012 7:50am
rmolin73's avatar

rmolin73

Senior Member

4,278 posts
Jul 1, 2012 8:19 AM
Just my mortgage and about 1,500 on my credit card I'll pay that off this month.
Jul 1, 2012 8:19am
j_crazy's avatar

j_crazy

7 gram rocks. how i roll.

8,372 posts
Jul 1, 2012 8:28 AM
180k on my house No other debt. Paid off my student loans last year. Got my truck off after totaling my previous one (insurance money).
Jul 1, 2012 8:28am
McFly1955's avatar

McFly1955

Senior Member

1,441 posts
Jul 1, 2012 10:47 AM
around 100K on mortgage, around 15K on student loans, around 10K on 1 car (recently bought other car, paid cash).Student loans were at around 30K just a couple years ago, we have been hitting them hard with a plan to pay them off by the end of 2013, and will accomplish that unless something unexpected happens....Then the car is gone end of 2014, then we hope to never borrow again.
Jul 1, 2012 10:47am
End of Line's avatar

End of Line

It's Clobberin Time!

6,867 posts
Jul 1, 2012 2:19 PM
Around 9K in medical bills.
Jul 1, 2012 2:19pm
S

Sonofanump

Jul 1, 2012 2:36 PM
Just my mortgage which we have equity in. Wife's car is paid off and I have a company car.

We are +10 years out of school and +10 years away from kids college so I'd hope we would be where we are at.

I don't mind a 3.625% percentage rate and being able to include that interest on taxes.
Jul 1, 2012 2:36pm
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Jul 1, 2012 4:00 PM
It's near impossible for me to get out of debt right now, or take any chunks out, as I'm taking Masters classes. Once I'm done with those, I plan on taking drastic steps in decreasing our debt.
Jul 1, 2012 4:00pm
derek bomar's avatar

derek bomar

Senior Member

3,722 posts
Jul 1, 2012 4:05 PM
55k in student loans, 6k for my truck and 190k mortgage
Jul 1, 2012 4:05pm
like_that's avatar

like_that

1st Team All-PWN

26,625 posts
Jul 1, 2012 4:08 PM
Zero debt.
Jul 1, 2012 4:08pm
hoops23's avatar

hoops23

Senior Member

15,696 posts
Jul 1, 2012 4:13 PM
ernest_t_bass;1216329 wrote:It's near impossible for me to get out of debt right now, or take any chunks out, as I'm taking Masters classes. Once I'm done with those, I plan on taking drastic steps in decreasing our debt.
This is becoming as bad as ytown always referring to her "hubby"
Jul 1, 2012 4:13pm
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Jul 1, 2012 4:14 PM
hoops23;1216337 wrote:This is becoming as bad as ytown always referring to her "hubby"
What's that?
Jul 1, 2012 4:14pm
like_that's avatar

like_that

1st Team All-PWN

26,625 posts
Jul 1, 2012 4:15 PM
hoops23;1216337 wrote:This is becoming as bad as ytown always referring to her "hubby"
LMFAO, reps.
Jul 1, 2012 4:15pm
GOONx19's avatar

GOONx19

An exceptional poster.

7,147 posts
Jul 1, 2012 5:28 PM
About $100,000 in student loans. With two years left.
Jul 1, 2012 5:28pm