How much are you in debt?

[Chrisksaint]

Re: How much are you in debt?

About 6-7k already in loans I think, probably around 20-25k by the time I finish school.

Hopefully less lol

[ScoobySnax]

Re: How much are you in debt?

@cjones

I'm right there with you man. I'm always out to eat for lunch and before you konw if, you can blow $300 on lunch in a given month. What my wife and I do is tryto take sandwiches during the week. We'll buy lunch meat, Pb&J etc. and light snacks like crackers and cashews. This has worked pretty well when we do decide to stick to it (not this week lol).

As for the CC's just pay them off in one lump sum and put them in the sockdrawer (I had to do that today as a matter of fact). I keep going back and forth pay $400, then use it right up. You can't make any real progress like that imo. Sure, your savings takes a hit, but you can build that right back up over a few months.

If your using the transit system to get to and from work, how are you spending $200/month on gas?

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As far as my profile goes, my wife and I are about $110k in debt, with 80 of it being in student loans. ****.

I have a few bad guys on my CR totaling about $5k that I'm trying to get rid of before making a home purchases. No credit card debt (as of this morning lol). We have two cars with about $29k left to pay on those. we hope to put about $7k towards that this month.

If it wasn't for those damn student loans and car notes, we could save about $3k a month, which would be glorious.

Sometimes I feel like I can't get ahead and it's very frustrating. All you can do is keep trying to manage your funds to the best of your ability. A lot of the debt (especially the student loans) were my own bad decisions. I didn't need as much as I asked for and now I have to pay money back.

Sorry for the long-winded post.

Signed,
A pissed off MFer in debt

[cjonesfan921]

Re: How much are you in debt?

@cjones

I'm right there with you man. I'm always out to eat for lunch and before you konw if, you can blow $300 on lunch in a given month. What my wife and I do is tryto take sandwiches during the week. We'll buy lunch meat, Pb&J etc. and light snacks like crackers and cashews. This has worked pretty well when we do decide to stick to it (not this week lol).

As for the CC's just pay them off in one lump sum and put them in the sockdrawer (I had to do that today as a matter of fact). I keep going back and forth pay $400, then use it right up. You can't make any real progress like that imo. Sure, your savings takes a hit, but you can build that right back up over a few months.

If your using the transit system to get to and from work, how are you spending $200/month on gas?

As for the gas, I'm a weekend driver. I put most of my mileage from Fri-Sun. During the week, I have about a 3-4 mile drive to the bus stop one way. The car gets about 18MPG. It also doesn't help that the gf lives 15 miles away and make a few trips back and forth between Fridays and Saturdays.

As for lunch, I'm going to try something different this week. I'm pretty sure I can manage fine with a nice little snack and an apple juice, or something.

I'm definitely going to crunch some numbers over this weekend. I really need to take a stranglehold on my expenses, too many frivolous things. I glanced at my 'set' expenses, and my net take home, (which could and should be higher if I adjust my withholdings) and there is no reason I should not save at least $500 a month.

As far as my profile goes, my wife and I are about $110k in debt, with 80 of it being in student loans. ****.

I have a few bad guys on my CR totaling about $5k that I'm trying to get rid of before making a home purchases. No credit card debt (as of this morning lol). We have two cars with about $29k left to pay on those. we hope to put about $7k towards that this month.

If it wasn't for those damn student loans and car notes, we could save about $3k and month, which would be glorious.

Sometimes I feel like I can't get ahead and it's very frustrating. All you can do is keep trying to manage your funds to the best of your ability. A lot of the debt (especially the student loans) were my own bad decisions. I didn't need as much as I asked for and now I have to pay money back.

Sorry for the long-winded post.

Signed,
A pissed off MFer in debt

It's very frustrating. But, if you didn't go to school, you may not be where you are now. That's how I look at it. The lucky ones get a job in their field and can pay it off, and it seems most of us here, are lucky enough.

80K is a ton, however, I have heard horror stories. I have a friend who is up towards 100K in students loans and is a history major. Not to knock any history majors, but, I'm not sure he will be able to manage that in the future.

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Now that I really think about it. My emergency fund is my credit card, basically. It's always good to have cash, but not having to worry about interest collecting debt like cc debt, would be incredible.

[NDAlum]

Re: How much are you in debt?

$140k house
$4k car
$0 credit card

Going to knock my car out first then keep it in great shape and ride it til the wheels fall off. I'm also going to start paying double principal on my mortgage once I pay off my car.

It's only an extra $1/month towards the principal [/mortgage joke]

[cjonesfan921]

Re: How much are you in debt?

$140k house
$4k car
$0 credit card

Going to knock my car out first then keep it in great shape and ride it til the wheels fall off. I'm also going to start paying double principal on my mortgage once I pay off my car.

It's only an extra $1/month towards the principal [/mortgage joke]

That will be my move going forward. I leased the car this time around, but when that's over, September of '14, I'll have a better idea of what I want for good.

[gerg1234]

Re: How much are you in debt?

23k on Student Loans
15k on 2010 Chevy Silverado
2k on credit card (hoping tax return will kill that quickly)

[Dog]

Re: How much are you in debt?

As of right now, nothing. But I'm walking a thin line right now

[WazzuRC]

Re: How much are you in debt?

$15k in school loans
$700 in credit card
My wife owes about $60k in student loans and $1700 on credit cards.

Now that we both finally have decent paying jobs, we'll be able to knock out the CC debt in the next 3 months.

Neither of us have good vehicles but they are both paid off. We are renting now and hopefully will be buying a house in the next two years. Our financial situation has been pretty tight the last few years so we haven't had a chance to really knock out a lot of student loans or be set with opportunities to buy a house or newer cars.

We both work in industries where the salary isn't the greatest so it's been tough.

[ScoobySnax]

Re: How much are you in debt?

^Just hang in there man. It takes time to pay down debt. It's great that you have no car payments. I wish I could say the same. After I pay mine off, I'm not buying anything that will have me paying fixed amounts each month (besides a home). It's too demoralizing for me.

[DamnYanks2]

Re: How much are you in debt?

2000.00 for prescription drugs
14,000 in nursing home fees

I have been slowly paying off nursing home bills, and medical bills for a while now. My dad had a stroke when I was 18 and it landed him in a nursing home. I'm now 21, and it's been a cold way to learn how the medical system works. I have pretty good coverage with Samba, but certain prescriptions and nursing home bills are all out of pocket expenses.

I can't really complain too much, my father had a good income, but he made too much to be elgible for medicaid. So it's all out of pocket. But yea it sucks.... it's outlandish how much some of this stuff costs, and it's been a hard road of learning for me. I've made plenty of mistakes financially along the way, lol I've come a long way though.. barely knew how to write a checkbook when I was 18.

[Phobia]

Re: How much are you in debt?

I thought this was a interesting thread so I wanted to see just how much I owe.

House - 90,000
Student Loans - 25,000
Truck - 8,000
Medical & Dental - 3,000
Credit Cards - $300

Total $126,300

Now I don't carry credit card debit. I use the credit cards to keep a high credit score in case I ever need a loan or finance something. So I use the walmart credit card to purchase games then pay it off $50 a month or so to keep a credit score high with the plus of having the games I would like. The max on the card is only $400 so it works out perfect.

[cjonesfan921]

Re: How much are you in debt?

Settled. I will be CC debt free by March! I feel a huge burden will be off my back.

[rdub78]

Re: How much are you in debt?

Medical: About $1500
Dental: $300

Other than that nothing else.

[Flightwhite24]

Roughly a little over $225,000 and the bulk of it is my home which ran a little over $200K.

Hopefully I win the Powerball on tomorrow and I will be debt free.


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[Marino]

Re: How much are you in debt?

30k student loan right now, could have been worse though, so thankfully that's it.