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re: Besides a mortgage and car notes, what's the most amount of debt you've been in?
Posted on 10/9/24 at 10:27 am to Jenious
Posted on 10/9/24 at 10:27 am to Jenious
I'm probably in the worst position I have had in life but it isnt that bad. My rainy day fund of $50k has been wiped out from replacing pipes under my house, new roof, new ac, water heater busted in the ceiling, and various auto repairs. I am.aitting on $5k of credit card debt that I know I can pay off but it gives me anxiety due to not being able to efficiently pay back.my emergency fund. I am still putting money into my retirement fund at least
0
Posted on 10/9/24 at 10:38 am to JimTiger72
quote:
Get $1k into an emergency fund savings account & pay cash..
We have an emergency fund with $10k in it. I just have a problem with touching money once it goes into a "savings" account. I don't consider $1k car repairs, kids sports fees, tractor repairs, and/or home repairs to be an emergency. I probably should just pay with cash but its a mental block for me....i don't like to touch savings unless its an emergency emergency.
I agree with you though, thats how I should do it.
Posted on 10/9/24 at 10:40 am to mthorn2
quote:
I don't consider $1k car repairs, kids sports fees, tractor repairs, and/or home repairs to be an emergency.
I probably wouldn’t either but I definitely wouldn’t be going into debt for that when I have $10k in the bank
Posted on 10/9/24 at 10:43 am to Jenious
The debt of sin was going to send me to hell. That debt was paid through blood two thousand years ago
Posted on 10/9/24 at 10:47 am to Trapped in time
quote:
Never had debt until I got married. I’m about 60k in cc debit
Damn. That's a serious chunk.
Posted on 10/9/24 at 10:52 am to Jenious
Bought an RV that cost me $142,000
Posted on 10/9/24 at 11:06 am to Jenious
Business, approx $4mil between different entities, commercial real estate, everybody wants to be the boss, but you gotta be willing to put your arse on the line for everything.
Posted on 10/9/24 at 11:19 am to Trapped in time
quote:
Divorce would put me In a way bigger hole.
At least the hole would be a fixed size. As long as you’re married, it will just keep growing.
I went to Europe twice last summer for under $5k for two weeks total, no points used. That’s probably what your ball and chain wants to spend for four days on 30A.
Posted on 10/9/24 at 5:11 pm to Jenious
Student loans.
Posted on 10/9/24 at 5:21 pm to AwgustaDawg
quote:
If you want a true friend, one who is truly concerned that you live a long time and are satisfied with your life and unlikely to lose your shite and skip town find a banker dumb enough to extend you a million dollar line of credit on nothing more than your signature. That poor bastard will be better than a dog.....
Unsecured doesn't mean without recourse. Sounds like he was concerned for you because if you defaulted, he was going to have to sue the brakes off of you personally.
Posted on 10/9/24 at 6:13 pm to tes fou
Borrowed money comes in laughing and leaves crying.
Posted on 10/9/24 at 8:37 pm to Jenious
When I graduated college I got lots of credit cards. Sears sent me an application 1st, so I got it. Used it for Kenmore appliances, and a few Craftsman tools. When I moved to Dallas in 1984 I added Saks, Neiman Marcus, Lord and Taylor, Joskes, Wolf Brothers, and a bunch of gas company cc's. I had my own Am EX card and a company one. Had a Visa with a $3K limit and a Master Card with a $5K limit.
I needed suits for work, so I bought suits, shirts and ties. Bought nice shoes too.Every week I would go buy clothing items from Saks, Culwell & Sons, the Polo Shop or a sporting goods store, just because I thought I deserved something new. I probably had one of the best ruby shirt collections known to man. I usually got the Saks or Cullwell & Sons private label ones, but if I loved it, I'd get a Polo one. Back then they were a mere $75, but worth it. I once had a dancer from The Million Dollar Saloon try to buy it off me in a Burger King. She offered me $100 for it. That was before I'd even been in the club.
Unfortunately, I wasted a few dollars in those places too. Then came the cocaine. At one point I was getting a cash advance on the MC to pay the Visa. I think my high was $7K combined on the Visa and the MC. I got rid of all credit cards. Went without anything but a debit card for about five years. Since I started using them again I only have one but pay everything, except the bill for it, with it.
I needed suits for work, so I bought suits, shirts and ties. Bought nice shoes too.Every week I would go buy clothing items from Saks, Culwell & Sons, the Polo Shop or a sporting goods store, just because I thought I deserved something new. I probably had one of the best ruby shirt collections known to man. I usually got the Saks or Cullwell & Sons private label ones, but if I loved it, I'd get a Polo one. Back then they were a mere $75, but worth it. I once had a dancer from The Million Dollar Saloon try to buy it off me in a Burger King. She offered me $100 for it. That was before I'd even been in the club.
Unfortunately, I wasted a few dollars in those places too. Then came the cocaine. At one point I was getting a cash advance on the MC to pay the Visa. I think my high was $7K combined on the Visa and the MC. I got rid of all credit cards. Went without anything but a debit card for about five years. Since I started using them again I only have one but pay everything, except the bill for it, with it.
Posted on 10/9/24 at 9:13 pm to Jenious
Kids. It never stops
This post was edited on 10/9/24 at 9:15 pm
Posted on 10/9/24 at 9:26 pm to Planetarium
quote:
Put up a grain bin couple years ago, pre Covid. Between dirt work, concrete, the bin, fan, sweep, stirrers, stairs and electrical it was $150K. I was told the same bin today would be $225K, minimum
What size bin was it?
Posted on 10/9/24 at 11:27 pm to Jenious
I could say buying a herd of cattle that would take years to break even
I bought a 26k rodeo bull that broke his leg on the 8hr trip home
I bought a 26k rodeo bull that broke his leg on the 8hr trip home
Posted on 10/9/24 at 11:32 pm to Shexter
quote:
Child support - not really "debt", but a constant installment payment towards my ex's Ozempic
Posted on 10/9/24 at 11:37 pm to Dirt Booger
quote:
bought a 26k rodeo bull that broke his leg on the 8hr trip home
Are you SOL when this happens? Could you at least eat him?
Posted on 10/10/24 at 12:30 am to supadave3
We casted him and hoped his hind leg would heal to the point we could use him as a breeder. Didn’t work out in his case
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