Debt...

BMD'sPeanut Posted: Feb 17, 2004 03:07 PM

Debt...

How did you get out of it? Or what are you doing to get out of it?
(Not including school loans or medical bills.)

heidla Posted: Feb 17, 2004 03:10 PM

Re: Debt...

Other then our mortgage I have no debt. I am anal about finances. I got in a little trouble when I was 19 and since then I either pay cash or pay off my amex in full each month. Debt scares me!!!

shamma Posted: Feb 17, 2004 03:11 PM

Re: Debt...

Just saw your post in its entirety. I paid off a large debt last year, by being serious, it can be done. Cut back and not spend what you don't have. You have to really want to. B/c I could have been sending in minimums for the rest of my life, but I know that was not realistic.

heidla Posted: Feb 17, 2004 03:14 PM

Re: Debt...

No, student loans are not included.

NYCHICK Posted: Feb 17, 2004 03:14 PM

Re: Debt...

It is a fear of mine. I have NEVER been in debt and god willing never will. It is to scary the way it follows you around for the rest of your life if REALLY scary.

Becky Posted: Feb 17, 2004 03:17 PM

Re: Debt...

I took out a personal loan to consolidate all of the debt I accumulated while I was in law school and not working full time. Since then I try to not buy anything that I can't pay off outright. The operative word being TRY But over the last few years, I have been paying down and not charging.

Now that I have my school loans to pay back in full force and effect, I really can't afford to have any more credit card debt.

curly2003 Posted: Feb 17, 2004 03:18 PM

Re: Debt...

I own a home= DEBT

cocoa Posted: Feb 17, 2004 03:20 PM

Re: Debt...

just student loans. i have always over paid my credit card bills and i refuse to owe anyone. i hate that feeling. plus, i don't charge food or gas b/c it has been consumed by the time the bill comes and i dislike that idea.

wacky Posted: Feb 17, 2004 03:21 PM

Re: Debt...

We are in debtr right now $12,000 to be exact. We are paying about $2000 a month to get rid of it. Im so pissed that $$ could go towards our house fund

Debt is a horrible thing

heidla Posted: Feb 17, 2004 03:22 PM

Re: Debt...

Yes, owning a home equals debt but, I think of it as a positive kind of debt. The kind that I have worked so hard to' keep my credit clean' for debt.

BMD'sPeanut Posted: Feb 17, 2004 03:26 PM

Re: Debt...

Posted by heidla

Yes, owning a home equals debt but, I think of it as a positive kind of debt.

I agree.

alina Posted: Feb 17, 2004 04:40 PM

Re: Debt...

I don't carry credit card balances unless there is a very large purchase to be made (i.e. over a few K)... And even then, I try to pay it of as fast as possible.

One exception for me was student loans at the time when I was barely breaking even while living on own... I paid the minimum on those b/c I calculated that my total savings of paying it off earlier would be minimal relative to total loan balance. So, I figured spending $ today is worth it for a bit of extra price.

jennbaby Posted: Feb 17, 2004 04:46 PM

Re: Debt...

Pay with cash! I say if you don't have the cash to buy it, you cant afford it (with the exception of a home, car etc)

Jenn P Posted: Feb 17, 2004 05:00 PM

Re: Debt...

No debt here-just the mortgage and a car payment which we're in the midst of paying off early. We only use one credit card and pay it off in full every month.

chmlengr Posted: Feb 17, 2004 05:53 PM

Re: Debt...

I'm DEBT free and proud of it. Because it took me years to pay off my debts I had accumulated from my coollege years through my early 20's. Seeing the $$ grow in the savings account is so much more satisfying than sending in money each month to pay it off. I also paid off my chool loans in full and only have a car payment each month, in addition to our living expenses, like the mortgage.

Julybaby Posted: Feb 17, 2004 08:50 PM

Re: Debt...

I have credit card debt right now, but it should be paid off by March. Between the ages of 20-30, I had at least $1000 of credit card debt, and when it was paid off, I put more stuff on the cards. Until my HM, I was credit-card debt free for about a year and it was so awesome. I agree, if you can't pay with cash, don't buy the product.

KarenK122 Posted: Feb 17, 2004 10:48 PM

Re: Debt...

My DH and I both brought a significant amount of debt to our relationship. His mostly from medical conditions that went above and beyond insurance and mine from a previous divorce and trying to get my life back on track. My whole salary goes to paying off the debt and we never ever pay anything on credit. If we don't have the cash then we don't get it. That also included our wedding. We paid everything with the cash we saved up. I am happy to say though that we are almost done paying everything off and will be debt fee within the next six months!! Yay!! Then it all goes to a house fund.