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re: How much debt do you have?

Posted on 9/8/22 at 10:47 am to
Posted by OysterPoBoy
City of St. George
Member since Jul 2013
35749 posts
Posted on 9/8/22 at 10:47 am to
quote:

I just write it off.


Bingo. These people that brag about no debt are throwing away money every year.
Posted by Nono
Member since Nov 2017
4820 posts
Posted on 9/8/22 at 10:48 am to
12,000 on windows for house

5 years no interest, just made payment 4.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 9/8/22 at 10:48 am to
I'm definitely negative net worth
Posted by Loup
Ferriday
Member since Apr 2019
11714 posts
Posted on 9/8/22 at 10:50 am to
quote:

For the first time in my adult life, I have zero debt. No mortgage (last payment made this month), no car payment, no loans, no credit card balance. It’s a good feeling.


Congratulations, that's a huge accomplishment.


About 125k for my house, my wife pays half the note on that.

29k on my truck, financed at 0% interest though.

About $15k worth of student loans.

It's not much compared to a lot of folks I know at my income level but I still feel like I'm smothering. I hate debt. I've talked to my wife about tightening the belt for a couple of years and using her income just to try and pay the house off but I don't think she wants to go in on that.
Posted by El Segundo Guy
SE OK
Member since Aug 2014
9695 posts
Posted on 9/8/22 at 10:50 am to
quote:

These people that brag about no debt are throwing away money every year.


Not true. I have a small cattle farm and zero debt.

Do you even Schedule F, bro?
Posted by SportsGuyNOLA
New Orleans, LA
Member since May 2014
17313 posts
Posted on 9/8/22 at 10:50 am to
Just an SBA

Own my home, pay cash for my vehicles

Zero debt aside from SBA
Posted by Shamoan
Member since Feb 2019
9455 posts
Posted on 9/8/22 at 10:51 am to
one vehicle almost paid-off and about $190K remaining on my mortgage.

got my student loans paid off in-full about 4 years ago and wifes vehicle paid off about 10 months ago.
Posted by OysterPoBoy
City of St. George
Member since Jul 2013
35749 posts
Posted on 9/8/22 at 10:51 am to
quote:

I have a small cattle farm and zero debt.


Small cattle are also a great write off. You buy them small and fatten them up but only pay taxes on what they weighed when you bought them.
Posted by BoogaBear
Member since Jul 2013
5668 posts
Posted on 9/8/22 at 10:52 am to
The large majority of the nation has student loans, mortgage, car notes, and credit card debt but not here!

Mortgage
My student loan
Wife's student loan
Posted by Grievous Angel
Tuscaloosa, AL
Member since Dec 2008
9739 posts
Posted on 9/8/22 at 10:52 am to
Zero.

Unless you count the CC that I pay off each month.

Might be bout to buy a new car though (45k). I don't like parting with that much cash at one time if the interest rate is right.
Posted by Oilfieldbiology
Member since Nov 2016
37745 posts
Posted on 9/8/22 at 10:54 am to
Mortgage and about $2,500 on a car note.
Posted by bayoudude
Member since Dec 2007
25000 posts
Posted on 9/8/22 at 10:55 am to
Less than 50% of my liquid assets and a much smaller percentage if you go by net worth.
Posted by Grievous Angel
Tuscaloosa, AL
Member since Dec 2008
9739 posts
Posted on 9/8/22 at 10:56 am to
quote:

That ain't no shite. Learning that lesson the hard way. Been debt free for about a year and my score has gone down every month since.


Keep your oldest credit cards open and use one regularly and pay it off. I do that for Amex points.

Credit Karma says my score is 833.

I have zero debt outside of the CC I pay off every pay period (every two weeks) but that all counts for payment/credit history.
Posted by HECM62
NOLA
Member since May 2016
530 posts
Posted on 9/8/22 at 11:00 am to
No mortgage, car and truck bought with cash. We have 1 CC that we use and payoff each month. Could retire, or at least work part time except for health insurance. At age 63 and 60, with some conditions, private HI is crazy expensive.
Posted by Miglez
Member since Jan 2018
298 posts
Posted on 9/8/22 at 11:02 am to
About $30K in credit card debt
Posted by DirtyMikeandtheBoys
Member since May 2011
19431 posts
Posted on 9/8/22 at 11:02 am to
bout treefitty plus bout another fitty
Posted by CaptainsWafer
TD Platinum Member
Member since Feb 2006
58419 posts
Posted on 9/8/22 at 11:02 am to
quote:

For the first time in my adult life, I have zero debt. No mortgage (last payment made this month),


NOT SO SUBTLE BRAG
Posted by danilo
Member since Nov 2008
20526 posts
Posted on 9/8/22 at 11:03 am to
Mortgage. I am a simple guy. Much more happy having freedom and minimal stress than having lots of stuff (being single and no kids certainly helps)
Posted by cubsfan5150
Member since Nov 2007
15851 posts
Posted on 9/8/22 at 11:04 am to
You paid off the house that you just bought in the past couple of years?



BTW, why were you still making payments if you Paid it off in June like you claimed?
This post was edited on 9/8/22 at 11:08 am
Posted by Fat and Happy
Baton Rouge
Member since Jan 2013
17147 posts
Posted on 9/8/22 at 11:05 am to
Just house and child support
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