Post # 1
I was just sitting here thinking about it. And for my age, I’m in so much debt. Mostly from my new car & school. But most of my credits cards are also maxed out. I think our dream of getting a house within the next year or two is out the window.
I just wanted to see if where I’m at is normal.
Post # 3
All mines is in school loans
Post # 4
I do have a lot of debt ~$80,000. But it is all school related as I have been in post-secondary education for 10 years and will be receiving my doctorate this fall.
I already have a job lined up for January and my annual salary will exceed my debt load and so although it makes me sick to think about it, I should have it paid off within a few years.
Post # 5
we have two mortgages (two homes), and both paying off student loans, so yes. but we have tons of cash flow. we could pay off our student loans now if we wanted. the only reason we dont is because we make more money investing that money instead.
no credit card debt or anything though
Post # 6
@FMM: atleast you will hve a great job where you can pay it off fast. My job really doesnt pay that well.
Post # 7
DROWNING in it.
But, in exchange for that debt, I have a brilliant education that got me a job I adore. I have a house I love in a town that I love living in.
Someday, somewhere around my retirement, I’ll have these things paid off, and while I’m making the payments, I live quite small. So I won’t ever be rolling in it. Eh, don’t need a decadent lifestyle, anyway. After all, what I really wanted was a brilliant education, a job I adore, and a house I love.
Post # 8
We have student loans, and no other debt, so it’s manageable.
Post # 9
I have no debt. My husband has some student loans and a credit card that we are paying down and he has stopped using that credit card so that we can get rid of it. I have never before used a credit card and we need to get rid of that debt and just focus on the student loans. Thankfully he doesn’t have a ton of money tied up in student loans, I just wish it was loans on a degree he’s actually using, which he isn’t.
Post # 10
I don’t have any since paying off my student loans.
Post # 11
Does owning a house count as debt? If it does, then DEBT: I HAS IT. If not, then no, I don’t have any. I bought a used car, which I love (I have always bought used and probably always will). I don’t spend what I don’t have, and I pay off my credit cards in full every month.
I don’t mean to come across as boastful because I think that it’s very normal for young people these days to have student debt and car payment debt (I have been blessed with supportive parents who never charged me rent as I saved up for a downpayment on a house). The maxed out credit cards would be my only concern that I wouldn’t call “normal” although I’m sure it’s very common.
Post # 12
I think you’re going to need to adjust your choices. If someone has a home that’s $500,000 they are technically in debt. I guess it also depends on what you are including.
I have student loan debt, we’re paying off my credit card and I have a car loan.
ETA: The majority of my student loan debt will be forgiven because of PSLF.
Post # 13
The only debt we have at the moment are school loans and DH’s car. We’re probably at about $30,000. However, we plan to have it all paid off in two years. Then we’ll have a mortgage…
Post # 14
I have no school loan debt (thank goodness!), just 1 loan from a new car I purchased for myself last year, less than 22k now. I have credit cards but only use them for gas which I pay off within a month’s time. Should have my car paid off in 2 years.
ETA: My husband has school loans though, about 15K left. And he just paid off both his cars, so that’s good.
And we got a loan to build our house 2 months ago so that’s 460K that we’re in debt for. Oh well! We’ll manage it!
Post # 15
@star_dust: Thats our first thing is pay off our 3 credit cards. It seems so hard though. & yes i understand, I went to school for something I’m not even using. Such a waste of money
Post # 16
Nope. Our debt consists of a car loan that’s almost paid off (we could wipe it clean right now if we wanted to but we’d rather keep that $$ in the bank) and a few hundred on a credit card that’s zero’ed out every month. My student loan was paid off a few years ago and DH never had any. Debt scares me so I like to have as little as possible.