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re: Paid off my student loan and credit card yesterday

Posted on 2/11/20 at 9:54 am to
Posted by Wtodd
Tampa, FL
Member since Oct 2013
68474 posts
Posted on 2/11/20 at 9:54 am to
quote:

Paid off my student loan and credit card yesterday

quote:

Along with signed a purchase agreement on a 4 bedroom, 3 bath house

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Posted by Jax-Tiger
Vero Beach, FL
Member since Jan 2005
27005 posts
Posted on 2/11/20 at 9:54 am to
quote:

My builder friend said that dining rooms are on the way out. His and Her totally separate bathrooms are in.


We do this. Hers is connected to the master BR. Mine is downstairs, down the hall, and to the right. I share it with the kids.
Posted by GREENHEAD22
Member since Nov 2009
20609 posts
Posted on 2/11/20 at 9:55 am to
Catfish business is picking up is it?
Posted by wfallstiger
Wichita Falls, Texas
Member since Jun 2006
14806 posts
Posted on 2/11/20 at 10:07 am to
Well done.

We did likewise in 2015, student loans on two of our children and satisfied mortgage two years early.....were in our mid to late 50s, though.

Enjoy your accomplishments
Posted by deltaland
Member since Mar 2011
100868 posts
Posted on 2/11/20 at 10:10 am to
quote:

Not much confidence in the student loan forgiveness program?


I prefer a robust economy full of opportunity and higher earnings that allow me to pay off debt rather than expecting other people to foot the bill
Posted by deltaland
Member since Mar 2011
100868 posts
Posted on 2/11/20 at 10:14 am to
quote:

careful not get yourself in debt up to your eyeballs with pool tables, poker tables, multiple TV’s, and toys unless you can afford it.


I already own most of these already including a speed boat and a fishing boat and my truck is paid off as well. My GF is moving in with me and splitting the bills as well. I needed a house with more room with her wanting to move in and take the next step and still have room for my stuff plus hers. Combined I think we have like 6 TVs to put somewhere. Had to get a storage unit until I can close on the house
Posted by Zach
Gizmonic Institute
Member since May 2005
116836 posts
Posted on 2/11/20 at 10:22 am to
quote:

Hers is connected to the master BR.


And how many beauty products are in her bathroom? If it's less than 500 she must be into the natural look.
Posted by deltaland
Member since Mar 2011
100868 posts
Posted on 2/11/20 at 10:32 am to
quote:

My builder friend said that dining rooms are on the way out. His and Her totally separate bathrooms are in.



This house has both actually. It’s actually a duplex which is why it’s so large. But looks like a normal house, one side is larger than the other. Built in 1940. But I’ve got plans to tear down the wall between the sides and connect it with a locking door. One side is modern while the other is a bit dated (smaller side). I’m using the dated side for a weight room, gaming/movie room and the bar. And has it’s own kitchen. So that side will be for activities and groups of friends and be able to keep the nicer side of the house clean and people out of it. Nicer side has the fireplace and updated kitchen/floors and is much larger.
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 2/11/20 at 10:34 am to
quote:

I prefer a robust economy full of opportunity and higher earnings that allow me to pay off debt rather than expecting other people to foot the bill


arent you the catfish farmer?

your entire industry is subsidized/propped by uncle sam
This post was edited on 2/11/20 at 10:35 am
Posted by deltaland
Member since Mar 2011
100868 posts
Posted on 2/11/20 at 10:35 am to
quote:

Catfish business is picking up is it?


Yes. Prices are up and sales are good. Costs of production holding steady. Imports are way down currently. Industry experienced growth the past 2 years in acreage for first time since 2003. And processed the most pounds since 2010.
Posted by boosiebadazz
Member since Feb 2008
84622 posts
Posted on 2/11/20 at 10:35 am to
It is pretty cool being able to buy all the shite you wanted to when you were younger but poorer
Posted by deltaland
Member since Mar 2011
100868 posts
Posted on 2/11/20 at 10:44 am to
Catfish farms don’t receive crop subsidies or subsidized crop insurance

The only help we get from Fed gov is we got them to do stricter inspection of imports and when we get an over supply of fish sometimes the usda will purchase fish for lunch programs to help ease the pain
Posted by HubbaBubba
North of DFW, TX
Member since Oct 2010
51001 posts
Posted on 2/11/20 at 10:47 am to
Congrats. I purchased my first home in 1980. Mortgage financing was hovering around 17%. It was a bad time to buy, and even worse for sellers. The Owner was trying to get out of the house and owner financed it at a rate of 8%. $43,000 purchase. 3 bedroom, 2 bath. Carport had been turned into a bedroom and they had added a great room on the back with a decent patio and cedar fenced yard. Even had a wood framed storage building on concrete. The house was worth a lot more but the market was terrible. I can't imagine mortgage rates getting that high ever again. Rates got as high as 21%.
This post was edited on 2/11/20 at 10:48 am
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
58035 posts
Posted on 2/11/20 at 10:57 am to
quote:

Paid off my student loan and credit card yesterday


Posted by LSUROXS
Texas
Member since Sep 2006
8517 posts
Posted on 2/11/20 at 10:59 am to
MAGA Beatch!! Congradulations! Now KAG!!
Posted by Midget Death Squad
Meme Magic
Member since Oct 2008
28182 posts
Posted on 2/11/20 at 11:13 am to
quote:

Don't most people do that within a couple of years of graduating?



Yes. Most people are able to pay off 40-50K in student loans as well as save up 50K downpayment on a 250K house within 2 years, because most people graduate college making 300K/yr. Yup, that's exactly right
Posted by Flats
Member since Jul 2019
26960 posts
Posted on 2/11/20 at 11:21 am to
quote:

Yes. Most people are able to pay off 40-50K in student loans as well as save up 50K downpayment on a 250K house within 2 years, because most people graduate college making 300K/yr. Yup, that's exactly right


Nobody said you had to buy a 250k house. But I looked up the student loan statistics and I admit I didn't know how big those numbers are, so I can see that being an issue. Most of the people I went to school with had co-op jobs or their parents paid for school so big student loans weren't a thing. Granted it was much more affordable then for the parents, but that's what happens when you flood a market with money.
Posted by Zach
Gizmonic Institute
Member since May 2005
116836 posts
Posted on 2/11/20 at 11:28 am to
quote:

Nobody said you had to buy a 250k house


When was the last time you bought a house? 250K is a very modest home in most places.
Posted by gatorsimz
cafe risque
Member since Feb 2009
8401 posts
Posted on 2/11/20 at 11:29 am to
Congrats!
Paid off my CC debt last month after being in debt for the past 5 years. Over-leveraged myself furnishing a house, paying for a wedding/honeymoon, engagement ring, among other things. Very liberating, as I felt pretty hopeless at times.
Posted by Flats
Member since Jul 2019
26960 posts
Posted on 2/11/20 at 11:34 am to
quote:

When was the last time you bought a house? 250K is a very modest home in most places.


According to Kiplinger $240k is the median for the largest 100 metro areas. Presumably young people just starting out understand that they're probably not going to be buying the median for their first home.
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