Do you have a lot of debt?

Original post by Mici n KC

Mar 14, 2008 01:51 PM

I think about how I will have 30-year mortgage...that's a payment every month for the next 30 years...360 months...10,957 days (included 7 leap years)

futuremrsfab Posted: Mar 14, 2008 02:05 PM

Re: Do you have a lot of debt?

i was just about to say, we dont have any debt but as soon as we find a place, we'll be in it up to our eyeballs

MrsK2008 Posted: Mar 14, 2008 02:06 PM

Re: Do you have a lot of debt?

Posted by 09BridetoBe

I HAVE STUDENT LOANS BUT THAT IS GOOD DEBT!

I will forever be in student loan debt.

I have 2 licenses that I no longer use!

Well, maybe soon..........

Mici n KC Posted: Mar 14, 2008 02:12 PM

Re: Do you have a lot of debt?

Posted by 09BridetoBe

I HAVE STUDENT LOANS BUT THAT IS GOOD DEBT!

Uck, me too, but I've been paying them for awhile now so they'll be done soon! Thankfully FH didn't go to college so he doesn't have this debt

Mizzdimple Posted: Mar 14, 2008 02:12 PM

Re: Do you have a lot of debt?

I have a small mortgage and a small student loan balance.

as long as u make ur payments everymonth on ur future mortgage u should be fine.

no credit card debt...

jessnstu08 Posted: Mar 14, 2008 02:23 PM

Re: Do you have a lot of debt?

you girls are my idols with no CC debt!

I was in an insane amount of CC debt , I was so reckless and STUPID and i had really high APR's .
I borrowed the money from my dad to pay it off and now I send him monthly payments interest free... and will be for the next 2 years

I haven't used them since this past summer, I learned my lesson

TrueLoveIn2008 Posted: Mar 14, 2008 02:25 PM

Re: Do you have a lot of debt?

Posted by MrsK2008

After all is said and done, rent, fuel, cable, utilities, groceries no extras we have about 1200$ to play with.

$1200 to play with??? I wish. I think we have about $12 to play with

Lately, all my money is spent or accounted for as soon as I get paid. On Fridays I find myself wishing it was 2 Fridays from then. I do not have a lot of debt, either - and luckily, my parents are paying for the majority of the wedding - I have a car payment, school loans, rent, a honeymoon to pay off (I charged that since it was through expedia), and savings ... I don't count my 'play' money until savings and 401K has been funded. I have more than $12, but not too much ...

Mizzdimple Posted: Mar 14, 2008 02:33 PM

Re: Do you have a lot of debt?

Posted by jessnstu08

you girls are my idols with no CC debt!

I was in an insane amount of CC debt , I was so reckless and STUPID and i had really high APR's .
I borrowed the money from my dad to pay it off and now I send him monthly payments interest free... and will be for the next 2 years

I haven't used them since this past summer, I learned my lesson

yea when i was in college i had crazy cc debt., and then when i gradutated FH made me pay them all off which im so thankful for., he trained me..hes good with $$ not me....i love to SPEND AWAY!

catsgirl Posted: Mar 14, 2008 02:42 PM

Re: Do you have a lot of debt?

we have no debt, fh is very good with money, we do extremely well. and i am so greatful for that.

Future Mulligan Posted: Mar 14, 2008 02:44 PM

Re: Do you have a lot of debt?

no credit card debt for either of us thank god!

FH still owes for his school loans and we have a loan/mortgage for our land in florida - we still owe out about 13K on it but i dont really consider that a debt....

so i guess we dont have debt BUT we owe insane amounts of money to our wedding vendors!

cherish83 Posted: Mar 14, 2008 02:45 PM

Re: Do you have a lot of debt?

With my tax money I paid off all my credit cards!! THat was a huge load off!!! Because I had owed close to $8000 on them. So now its just paying off student loans and saving for the wedding. I dont think a mortgage as debt because thats an investment. Its better IMO to have a mortgage every month than pay rent. In the end its yours.

bluekat16 Posted: Mar 14, 2008 02:49 PM

Re: Do you have a lot of debt?

FH & I paid off all our credit card debt with our tax returns

It really does take a huge load off!

KiTTeN0819 Posted: Mar 14, 2008 02:52 PM

Re: Do you have a lot of debt?

Ugh I hate that word. I am so in debt its aweful. I kept getting laid off for a few years so i racked them up big time... and then once i was no longer working seasonal jobs I went spend crazy. This past summer I cancelled all of my CC's and took out a loan to consolidate.. I couldnt believe the amount of money I had spent.. and I have no idea when I spent it on. I still owe like 17k, with nothing to show for it.

Mici n KC Posted: Mar 14, 2008 03:04 PM

Re: Do you have a lot of debt?

Posted by cherish83

With my tax money I paid off all my credit cards!! THat was a huge load off!!! Because I had owed close to $8000 on them. So now its just paying off student loans and saving for the wedding. I dont think a mortgage as debt because thats an investment. Its better IMO to have a mortgage every month than pay rent. In the end its yours.

I completely agree. We didn't want to rent because it's flushing money down the toilet for us! So we can't go on all these great vacations anymore, but hey I'll turn my backyard into a tropical island with some blow up palm trees and a kiddie pool and call it a day

GinaBambina08 Posted: Mar 14, 2008 03:14 PM

Re: Do you have a lot of debt?

I wouldn't consider a mortgage debt....technically it is, but it's actually a good kind of debt, so it wouldn't bother me...

cherish83 Posted: Mar 14, 2008 03:15 PM

Re: Do you have a lot of debt?

Posted by Mici n KC

Posted by cherish83

With my tax money I paid off all my credit cards!! THat was a huge load off!!! Because I had owed close to $8000 on them. So now its just paying off student loans and saving for the wedding. I dont think a mortgage as debt because thats an investment. Its better IMO to have a mortgage every month than pay rent. In the end its yours.

I completely agree. We didn't want to rent because it's flushing money down the toilet for us! So we can't go on all these great vacations anymore, but hey I'll turn my backyard into a tropical island with some blow up palm trees and a kiddie pool and call it a day

Put a sandbox back there too by the pool. That way you can pretend your on a beach!

Mici n KC Posted: Mar 14, 2008 03:18 PM

Re: Do you have a lot of debt?

Posted by cherish83

Posted by Mici n KC

Posted by cherish83

With my tax money I paid off all my credit cards!! THat was a huge load off!!! Because I had owed close to $8000 on them. So now its just paying off student loans and saving for the wedding. I dont think a mortgage as debt because thats an investment. Its better IMO to have a mortgage every month than pay rent. In the end its yours.

I completely agree. We didn't want to rent because it's flushing money down the toilet for us! So we can't go on all these great vacations anymore, but hey I'll turn my backyard into a tropical island with some blow up palm trees and a kiddie pool and call it a day

Put a sandbox back there too by the pool. That way you can pretend your on a beach!

Great idea! I'll play some calypso music too! My neighbors are going to hate me

cherish83 Posted: Mar 14, 2008 03:20 PM

Re: Do you have a lot of debt?

Posted by Mici n KC

Posted by cherish83

Posted by Mici n KC

Posted by cherish83

With my tax money I paid off all my credit cards!! THat was a huge load off!!! Because I had owed close to $8000 on them. So now its just paying off student loans and saving for the wedding. I dont think a mortgage as debt because thats an investment. Its better IMO to have a mortgage every month than pay rent. In the end its yours.

I completely agree. We didn't want to rent because it's flushing money down the toilet for us! So we can't go on all these great vacations anymore, but hey I'll turn my backyard into a tropical island with some blow up palm trees and a kiddie pool and call it a day

Put a sandbox back there too by the pool. That way you can pretend your on a beach!

Great idea! I'll play some calypso music too! My neighbors are going to hate me

Oooh and have a pina coloda!

failurebydsign Posted: Mar 14, 2008 03:20 PM

Re: Do you have a lot of debt?

lets just say my name uldnt be on our mortgage because my credit is that bad

when i was 18 ( 5 yrs ago ) nobody told mehow important credit was..so i had accepted every credit card offeri got and ended up with about 15 credit cards

im slowly paying itoff..but it cant get any bigger because they are all closed and my credit is so bad that i can not open anything new..so ill get it cleaned up really quick i hope

Mici n KC Posted: Mar 14, 2008 03:45 PM

Re: Do you have a lot of debt?

Posted by KiTTeN0819

Ugh I hate that word. I am so in debt its aweful. I kept getting laid off for a few years so i racked them up big time... and then once i was no longer working seasonal jobs I went spend crazy. This past summer I cancelled all of my CC's and took out a loan to consolidate.. I couldnt believe the amount of money I had spent.. and I have no idea when I spent it on. I still owe like 17k, with nothing to show for it.

It is nuts when you add it all up. When I was in college I was stupid with my CCs, but thankfully they didn't have super high limits. I got to the point where I was paying my bills and had no spending money. My mom paid off the balances and I was able to pay her back interest free. It wasn't that much, but when you're in college make peanuts it was a lot!

MrsD71208 Posted: Mar 14, 2008 04:16 PM

Re: Do you have a lot of debt?

'Good' debt: Student loans..almost done with them! and mortgage....they are both positives though.

'Bad' debt: ZERO!!!! All balances are and always stay at ZERO!!!