(Closed) Are you in a lot of debt?

posted 8 years ago in Money
  • poll: How much debt are you in?

    Under a $5,000

    $5,000 to $10,000

    $11,000 to $30,000

    $31,000 to $50,000

    $51,000 to $100,000

    $100,000 to $500,000

    Way over $500,000

    Debt FREE!!!

  • Post # 92
    Member
    369 posts
    Helper bee
    • Wedding: September 2012

    Just mortgage and maybe $1500 in credit cards.  Both our cars are paid off thank god! 

    Post # 93
    Member
    2701 posts
    Sugar bee
    • Wedding: November 2011

    we have our $69K mortgage and DH’s $25k in student loans. But we don’t have any credit card debt or other loans. We are super conscious and a little anal!

    Post # 94
    Member
    63 posts
    Worker bee
    • Wedding: August 2012

    We have a bunch but I’ve just kind of gotten used to it, and so I don’t stress about it too much.  We have the mortgage, we both have car payments on new-ish cars, we carry some credit card debt (but just to maintain the credit score; I usually pay them off every month or two), and then of course there are my student loans, mostly from grad school.  It would be WAY worse without the GI Bill benefits, as it is Im looking at about 50,000 or so in federal Direct loans.  The hubby-in-a-month has no student loan debt, he went to a tech school and now has a nice, stable, pension-giving state job.

    Post # 95
    Member
    540 posts
    Busy bee
    • Wedding: November 2013

    All of mine is school loans. For me they were unavoidable if I wanted to go to college. An education is irreplacable and one of the few things I would fell “okay” going into major debt for (major being over a few thousand)

     

    I am not too comfortable having any debt, but also know that as a teachcer after 10 years of making payments the rest will be forgiven. We are doing our best to pay if off, but not being able to find a job is making that preeetty hard 😀

    Post # 96
    Bee
    11808 posts
    Sugar Beekeeper
    • Wedding: September 2009 - Barr Mansion

    Yep. Law school pretty much guaranteed I’ll be in debt for the next 20 years. Oh well!

    Post # 97
    Member
    7286 posts
    Busy Beekeeper
    • Wedding: October 2011

    Just student loan debt-which I hate, but I guess was a necessary evil!

     

    Post # 98
    Member
    1423 posts
    Bumble bee
    • Wedding: May 2009

    Just student loans.  I’ll pay them off in a year or so — for now they aren’t accumulating interest.  I’m still in school.  But this time for free! (Phd — Actually I get paid to go.)

    Then we’ll buy a house and have more debt than ever — but only mortgage debt. 

    It’s much better than it was.  When we graduated from college we owed about $42,000 in student loans.  I can’t imagine what we would have owed if we were graduating now. 

    Post # 99
    Member
    1900 posts
    Buzzing bee
    • Wedding: July 2012

    I’m 24 and voted Debt free – I’ve got about $25000 in student debt, but the way it works in Australia is that you don’t have to pay if off unless you’re earning a certain amount of money (plus it’s an interest free debt) so as far as I’m concerned, it really doesn’t count.

    Post # 100
    Member
    13094 posts
    Honey Beekeeper
    • Wedding: July 2010

    View original reply
    @BeetleGrl215:  “we carry some credit card debt (but just to maintain the credit score; I usually pay them off every month or two)”

    Carrying debt on the credit cards doesn’t improve your credit score.  Using them and paying them off each month is all you need to do (and then you aren’t throwing away money on interest).

    Post # 101
    Member
    701 posts
    Busy bee
    • Wedding: June 2012

    I put $100,000-$500,000 because we are currently paying off my student loans, our home, and our two cars. We have a measly $2K on credit from the wedding that will be paid off within months. I think of it as “necessary” debt…

    I didn’t include any 401K, but I think if I did that we would still be in this range.

    Post # 102
    Member
    5373 posts
    Bee Keeper
    • Wedding: June 2014

    I’m 21 and I have about $13,000 in school loans. My Fiance is also 21 and doesn’t have any debt (:

    Post # 103
    Member
    15131 posts
    Honey Beekeeper
    • Wedding: June 2011

    View original reply
    @plzhalp:  I didn’t include any 401K, but I think if I did that we would still be in this range.

    401k ?  How could that be included as debt? 

    Post # 104
    Member
    523 posts
    Busy bee
    • Wedding: August 2014

    All my debt is school related for undergrad 2 years at a private college and finally got some brains and transferred to in state tuition.. I am in my senior year and owe 50,000 smh.. And my best bet is grad school which will be about another 25,000… leaving with me with about 75,000 in school debt.. but we will see

    Post # 105
    Member
    6112 posts
    Bee Keeper
    • Wedding: August 2012

    I am so extremely thrilled to be debt free.

    I took out as few loans as possible when I did my undergrad/grad.  When I sold my house to move in with Fiance that pretty much took care of the rest of my loans.  I am very grateful that I made a small profit on my little home – doesn’t seem to be the norm nowdays!  I had been paying on my student loans for 8 years before I started the grad program.  Fiance is smarty pants and got scholarships and his parents helped a little.  I have a Master’s and Fiance has a PhD; we are in our mid 30s. 

    Our cars are paid for.  Fiance paid his new Subaru off in 3 years.  I bought a used Saturn and paid cash.  It’s definitely an in-town car – no road trips for that one.

    We do have a mortgage though, but I did not include that for the poll.  Our net worth is in the plus, and we plan to celebrate when it hits 1/2 a million in a couple years!

    Post # 106
    Member
    2703 posts
    Sugar bee
    • Wedding: September 2012

    Fiance has zero debt and I have somewhere between 20 and 30K.  This is all student loans and my car (which will be paid off within the year!).  We don’t have any credit card debt.  Well, wait, I do have a few hundred on a card from when I bought some furniture but I have 0% financing on it so I’m taking my time paying it off.  If it had any sort of interest then I would have already paid the balance in full.

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