(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 # 107
    Member
    2023 posts
    Buzzing bee

    I picked 31-50K. This includes my car, student loans, and small amount of credit card debt. But, I wouldn’t say that I am drowning in debt. All of my loans were entered with the understanding of what their monthly payments would be and I can still afford to make payments, pay for my other monthly expenses, and save.

    Post # 108
    Member
    1695 posts
    Bumble bee
    • Wedding: March 2012

    All I have is school loans.

    Post # 109
    Member
    4410 posts
    Honey bee
    • Wedding: December 2010 - Savannah, GA

    View original reply
    @auggiefrog:  I don’t believe there is such a thing as “good” debt.  As long have debt, you are tied to that payment. That payment will always have to take priority over other purchases, which means you’re really not free to spend your money the way you want. 

    Post # 110
    Member
    766 posts
    Busy bee
    • Wedding: June 2013

    dang those student loans

    Post # 111
    Member
    213 posts
    Helper bee
    • Wedding: June 2013

    We’re both lucky. Both had scholarships that covered our entire university tuition, and had parents who warned us against getting credit cards in college. So we are starting out our married and adult life in the black. We don’t make too much money, but are able to live happily without owing money to anyone!

    Post # 112
    Member
    290 posts
    Helper bee
    • Wedding: November 2012

    I’m in debt, about 100k, from grad school. My PharmD is worth it though, and hopefully I’ll be able to pay it off quickly!

    Post # 113
    Member
    870 posts
    Busy bee
    • Wedding: June 2013

    I only have about $20,000 in student loans.  However, my fiance has about $50,000 in student loans.

    Post # 114
    Member
    701 posts
    Busy bee
    • Wedding: June 2012

    View original reply
    @pinkshoes:  I meant to include it on the positive side, but I think I would still be above $100K in debt.

    Post # 115
    Member
    9830 posts
    Buzzing Beekeeper
    • Wedding: April 2019

    I have about $25-$30k in student loans

    Post # 116
    Member
    6738 posts
    Bee Keeper
    • Wedding: June 2014

    View original reply
    @bestbuddies:  what do you invest in???

    View original reply
    @Mrs. Mouse:  I’m with you on that one!!

    View original reply
    @Loribeth:  I read that book, too!  Got me out of some credit card debt at the beginning of last year.  Still owe about $170k in student loans though..

    View original reply
    @CaliHoya:  It’s not always worth it… I wish someone had told me to go to a cheaper school or a school that offered more money rather than a higher ranked school to save myself the debt.

    Law School Student Debt:  $170k.  FI’s is about $100k.  We don’t make nearly that as our yearly salary, so I’d say it was NOT worth it – except, if we hadn’t gone to the same school, we would have never met each other!

    Post # 118
    Member
    11324 posts
    Sugar Beekeeper
    • Wedding: February 2011

    If you don’t count house debt we are in a combined total of about 130K-ish debt. Most of that is student loans, a little is for our cars. If we put our lives on hold until we paid off our debts we’d have bought a house when we were like…. 45. lol

    Post # 119
    Member
    1091 posts
    Bumble bee
    • Wedding: October 2012

    I have tons of student loan debt, although there’s a small chance they’ll be paid off in the near future.

    Fiance has student loans, the mortgage, car, and a little credit card debt. None of it is what I’d consider frivolous debt except the credit cards, sorta, and even those were used to fix up the house once he bought it, so it’s not like he was going on fabulous vacations he couldn’t afford or anything.  Sometimes you just have no choice- who can buy a house with cash? (although I did just buy a car with cash, so…).

     

    Post # 120
    Member
    1290 posts
    Bumble bee
    • Wedding: January 2013

    No debt here. I don’t own a house (he does), my car is paid off, no student loans, no credit card debt, etc.  My fiance is definitely the breadwinner and essentially pays for everything. This kinda made me uncomfortable to start (I do not like being dependent on anyone) but I’m okay with it now.
    I just save my money and pay for groceries and other random expenses. Last year, when we moved in together, I took him on 2 week trip to the Carib with the money I saved by not paying him rent.  I’m a registered nurse but he makes about 10x what I make.

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