(Closed) Why do you have debt or no debt?

posted 7 years ago in Money
  • poll: Why do you have debt or no debt?
    I don't have any debt because of my parents or family. (ex. paid for school, wedding etc.) : (36 votes)
    17 %
    I don't have any debt and my parents don't have money. I did it on my own (school & wedding) : (31 votes)
    15 %
    I don't have debt... Other... please explain : (14 votes)
    7 %
    I have debt and my parents don't have money. It's my own doing and it was 'somewhat' necessary. : (50 votes)
    24 %
    I have debt and my parents helped me out financially but I still have debt. : (45 votes)
    21 %
    I have debt because... other... please explain : (28 votes)
    13 %
    I won the lottery that's why I don't have debt. Or I'm really lucky. : (4 votes)
    2 %
    What is debt? : (0 votes)
    Other : (3 votes)
    1 %
  • Post # 3
    Member
    952 posts
    Busy bee
    • Wedding: August 2010

    School loans, wedding, honeymoon, ebay. (in no particular order) LOL

    Post # 4
    Member
    2714 posts
    Sugar bee
    • Wedding: May 2012

    The only debt I have are my student loans. My parents paid for a portion of school and I paid for the rest. They are very generously paying for our wedding (although even if they weren’t we would not have gone into debt for it). The only other debt we’re looking to have in the future is when we purchase a house, but I consider a mortgage an investment! 😀

    Post # 5
    Member
    10367 posts
    Sugar Beekeeper
    • Wedding: September 2010

    I have been 100% financially independent of my family since age 17. I have no debt because I made it a priority to live below my means, and because I am a scientist working in a high-paying field. My husband and I both really believe in living below our means, never buying something we can’t pay for outright (except for a house, eventually), and having a large cushion to fall back on!

    Post # 6
    Member
    642 posts
    Busy bee
    • Wedding: April 2012

    I paid for school but parents helped sometimes. The only other debt I have is my car and a few very small credit cards. My parents will contribute to the wedding, but we are paying for a lot of it.

    Post # 7
    Member
    2091 posts
    Buzzing bee

    I have about 7000 in student loans, and just under 2000 in CC debt. My dad has money but I hated asking him for help after I moved out, so I payed bills with my visa. Definitely not the smartest plan by any means but at least my interest rate isn’t crazy high…

    Cannot wait until I get a FT job and can start paying more than minimum.

    Post # 8
    Member
    1124 posts
    Bumble bee

    Student loans.

    Post # 9
    Member
    10288 posts
    Sugar Beekeeper
    • Wedding: October 2011

    Between FI and I, we have very little debt (basically just a car payment and 2 credit cards with pretty low balances). What college I did attend was paid for by my parents and grandmother. My parents are paying for about half of our wedding and we’ll be covering the rest (a few other family members are chipping in as well as FI’s family). We’re paying for our portion of the wedding cost out of savings. 

    We don’t believe in unnecessary debt. If we want to make a big purchase, we do so out of savings. 

    Post # 10
    Member
    260 posts
    Helper bee
    • Wedding: March 2011 - The Providence Biltmore

    Student loans, house, and unfortunately…wedding.  groan.  

    Post # 11
    Member
    7296 posts
    Busy Beekeeper

    my parents have debt. i paid for grad school (masters and phd), wedding, living expenses, travel (thats the ‘somewhat uncessary part!)……i don’t have MAJOR debt, at least i dont think. i just tend to live slightly beyond my means. my debt goes up and down. i have never missed payments or been  unable to pay so i have extremely good credit ratings. i pay it down or get close to….until the next big thing comes (now that thing is wedding!).

    Post # 12
    Member
    1944 posts
    Buzzing bee
    • Wedding: June 2009

    Well no option for had debt now have no debt. I had alot of debt from student loans, immaturity and basically having to be on my own since 18. and not understand money and budgets. I got myself in the whole with medical bills and utility bills but once I graduated, I was able to start paying things off. Then I got married and my DH had zero debt because he was taught, unlike myself, the value of money and how to manage it. His parents had money invested for him before he was 18, and this was his money not theirs. It was his money he saved from working etc. Well after getting married, we paid off all my debt in about 6 mths, about 17k. Funny thing is, now I am the budget queen and manage all the finances. We did not have a huge wedding because we were building a house. And honestly our mortgage is the only debt we owe. Its a great feeling, not going to lie.

    Post # 13
    Member
    1041 posts
    Bumble bee
    • Wedding: November 2012

    Student loans…..tons of student loans… and a little CC debt.    My FI on the other hand has NO debt (he recently paid off his student loans).  I wanna be like him

    Post # 14
    Member
    249 posts
    Helper bee
    • Wedding: April 2011

    I selected “other”- because I have craploads of debt!

     

    Post # 15
    Member
    1003 posts
    Bumble bee
    • Wedding: June 2012

    Car and mortgage. The car was before I came along, it is FIs and if I were in the picture he would of put a lot more down then he did. But here we are! only two and a half more years till it is paid off.

    Post # 16
    Member
    1205 posts
    Bumble bee
    • Wedding: December 2011

    I have a mortgage and am currently carrying an interest-free loan for graduate school; I’m going to be paying off the balance of that loan upon graduation before it accrues any interest.

     

    I am very, very, very, very lucky–and very aware of that.  I worked really hard (started earning money and saving it in middle school, from babysitting, then got my first “real” job as a freshman in high school, and have been working part- or full-time since), got some scholarship money, saved my earnings where possible, and have had additional help (especially in the undergrad college expenses department) from my parents.  I would not be where I am without help from my family, and we as a couple wouldn’t be where we are without the help we have had from both sets of parents.  I will always be grateful.

    The topic ‘Why do you have debt or no debt?’ is closed to new replies.

    Find Amazing Vendors