re: Americans&#39; household debt hits new record high

Posted by bleuman

Places

Member since Sep 2009

8925 posts

Posted on 11/6/25 at 1:54 pm to RLDSC FAN

Only mortgage, pay a bit extra to principal monthly.

Posted by Joshjrn

Baton Rouge

Member since Dec 2008

31739 posts

Posted on 11/6/25 at 2:16 pm to LNCHBOX

quote:
Yea these two are a little different than other debts, assuming you didn't get a basket weaving degree

Reminds me of the "cheating" thread, which lumps in cheating on your diet and cheating on your spouse

Posted by JohnnyKilroy

Cajun Navy Vice Admiral

Member since Oct 2012

40327 posts

Posted on 11/6/25 at 2:16 pm to Carolhdg

quote:
However, I understand the difficulties younger people face. We bought our house at the bottom of the market, vehicle prices exploded after we bought our current vehicles, and it was a lot easier to pay for college out of pocket in the seventies. It’s a different world than when I grew up.

Frame this one boys. We got a unicorn here.

Posted by TheHarahanian

Actually not Harahan as of 6/2023

Member since May 2017

23184 posts

Posted on 11/6/25 at 2:21 pm to thelawnwranglers

quote:
keep enough household cash to pay property taxes for a couple years. In the bank or mattress?

Mattress. The intent is to have it on hand so it’s never made unavailable.

2 ...

Posted by thelawnwranglers

Member since Sep 2007

42060 posts

Posted on 11/6/25 at 2:30 pm to TheHarahanian

quote:
Mattress. The intent is to have it on hand so it’s never made unavailable.

Lol. I don't have $15k sitting around

Freaking NJ

I get it though

https://www.mymathtables.com/calculator/number/trillion-divide-by-billion-calculator.html

Posted by Shexter

Prairieville

Member since Feb 2014

19222 posts

Posted on 11/6/25 at 2:32 pm to Eurocat

quote:
1.23 trillion divided by 24 billion is 51 times!

No it's not its 5166 times.

Posted by Celery

Nuevo York

Member since Nov 2010

11656 posts

Posted on 11/6/25 at 3:25 pm to RLDSC FAN

Time to bring back to endentured servitude. Work that debt off.

Posted by dewster

Chicago

Member since Aug 2006

26442 posts

Posted on 11/6/25 at 3:28 pm to RLDSC FAN

Not shocking. There are clear cracks right now and have been for several years.

We have not even begun to pay for shoveling cash into the economy during Covid. Those hand outs didn’t land on me. But we are all going to pay dearly for them.

This post was edited on 11/6/25 at 3:29 pm

Posted by MC5601

Tyler, Texas

Member since Jan 2010

4238 posts

Posted on 11/6/25 at 3:33 pm to RLDSC FAN

$31k auto debt (company pays $700 a month allowance)
$1k credit card that I pay monthly
$0 mortgage debt (can't have mortgage debt if you can't afford a home!)

Posted by HangmanPage1

Wild West

Member since Aug 2021

2041 posts

Posted on 11/6/25 at 3:39 pm to MC5601

I never worry about debt, it is what it is. Only get to live once and you not going to jail over it.

Posted by UptownJoeBrown

Baton Rouge

Member since Jul 2024

7499 posts

Posted on 11/6/25 at 3:40 pm to HangmanPage1

quote:
you not going to jail over it.

Oh but that’s exactly what we need.

Posted by 777Tiger

Member since Mar 2011

88975 posts

Posted on 11/6/25 at 3:47 pm to RLDSC FAN

quote:
How much debt does the OT have in their households?

71 months remaining on F-350 payments(8.9%)

60 payments on wife's Denali(6.9%)

rolled Jaiden and Braiden's strength coach and batting coach loans into one(19.99%)

only owe $255k on the double wide ande the travel trailer(necessary for travel ball tournaments, other than that, we're coasting )

Posted by Horsemeat

2025 Contributor Of The Year

Member since Dec 2014

15271 posts

Posted on 11/6/25 at 3:50 pm to RLDSC FAN

I carry about $400/m debt - car note, cell phone, and storage unit. All of that goes to my credit card and I pay that off every month and ring up the rewards points for free stuff.

I got (major) debt free months ago and have ZERO intention of ever going back.