How much are you in debt?

Collapse

Recommended Videos

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • Scottdau
    Banned
    • Feb 2003
    • 32580

    #46
    Re: How much are you in debt?

    Originally posted by Jistic
    No question, it's different. Most houses appreciate. But would they beat a safe mutual fund? Probably not. Although they could. But we have to live somewhere, so what can you do. If you're paying $10K a year in interest, will your house appreciate 50 grand in 5 years? If not, you're losing money. Granted you get a tax break.

    You make most of your money on the latter half of a mortgage cycle, however most people refinance before that and end up starting the curve all over again where you're stuck paying mostly interest. It's a slow death.

    It's not as bad as having an auto loan. Especially on a new car. Financially that's about as bad as it gets. Nothing depreciates like a car. And you're stuck paying interest on something that is a fraction of the value it was just a few years earlier.

    That tax break is worth it to me. I love that thing.

    Comment

    • TimmeH
      Cult of Personality
      • Jun 2003
      • 4588

      #47
      Re: How much are you in debt?

      I have over $7000 in credit card debt because of my crappy job and my own stupid spending urges.

      I have another $5000 to pay back for student loans.

      So altogether $12000, pretty sad for a 21 y/o

      I'll probably have to get myself a little deeper in debt before getting out since I'm starting a new job in a couple weeks where I'm going to need a more reliable vehicle. That being said, the new job doubles my yearly salary, so hopefully after i get the reliable vehicle, the debt will get paid off fast
      Co-Commish of the OS Vets I & II
      Vets I | Green Bay Packers(11-6)
      | Last Game: L 31-6 @ CAR (Wild Card Round)
      Vets II | Washington Redskins(13-6) | Last Game: L 37-34 OT @ ATL (NFC Conference Championship)

      Vets Bowl I Champion | Vets Bowl II Runner-Up

      Comment

      • ESPNdeportes
        MVP
        • Jul 2002
        • 3459

        #48
        Re: How much are you in debt?

        Originally posted by Husker_OS
        $0.00



        I don't plan on getting a credit card prior to buying my first house. My debit card always has enough money on it thanks to the job and the parents.
        If you use your credit card responsibly, you won't have a problem.
        "You can not ensure success, but you can deserve it." - John Quincy Adams

        PSN: raginrapids

        Comment

        • NoleFan
          Hall Of Fame
          • Aug 2002
          • 12855

          #49
          Re: How much are you in debt?

          Originally posted by ESPNdeportes
          If you use your credit card responsibly, you won't have a problem.
          Very good advice!
          F-L-O-R-I-D-A! S-T-A-T-E! Florida State! Florida State! Florida State! Wooooo!

          Comment

          • Hooe
            Hall Of Fame
            • Aug 2002
            • 21554

            #50
            Re: How much are you in debt?

            This thread made me think of this.

            <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/hn5EP9StlVA&hl=en"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/hn5EP9StlVA&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>


            As for me, college student, so a fair amount... dunno exactly how much off the top of my head though.

            Comment

            • BunnyHardaway
              Banned
              • Nov 2004
              • 15195

              #51
              Re: How much are you in debt?

              Ask me in 4 years when I'm going to owe $50,000+ for college

              Comment

              • Bamafan3723
                THE Standard in CFB
                • Jul 2003
                • 7287

                #52
                Re: How much are you in debt?

                $0. I pay off my credit card bill each month and do a good job of not spending alot.
                "The best thing about being a football player at Alabama...winning...winning." -Mark Barron

                Comment

                • Rainey
                  MVP
                  • Jul 2002
                  • 4507

                  #53
                  Re: How much are you in debt?

                  Originally posted by JJLinn
                  Ask me in 4 years when I'm going to owe $50,000+ for college
                  Get a job JJ! lol
                  NCAA Vets League: Arkansas Razorbacks (9-2, 6-1)
                  MLB OS League: Seattle Mariners (9-2)

                  Comment

                  • theaub
                    Stop! Homer Time!
                    • Feb 2004
                    • 9643

                    #54
                    Re: How much are you in debt?

                    About $700 in credit card debts. I make all my purchases on credit so I can build it up. No problems paying it off ever.
                    Blue Jays, Blackhawks, Auburn

                    Comment

                    • themush
                      Rookie
                      • Mar 2008
                      • 247

                      #55
                      Re: How much are you in debt?

                      Originally posted by Jistic
                      Mortgage is still debt. Sure you may make money when you sell, but how much interest have you paid to that point? I got one, and it's still debt.


                      Equitable debt. Meaning you don't pay us we take it. Not as bad as unsecured debt. CC, signature loans, etc....

                      Don't pay the mortgage the bank takes your house. Don't pay your CC it hammers your credit but, they won't come take your CC from you.

                      Now with that said if you ever want to own your own house don't get into tooo much CC debt.

                      Pay your bills people. Just pay your bills.
                      There are 3 types of people in the world those who understand math and those who don't.

                      Comment

                      • BunnyHardaway
                        Banned
                        • Nov 2004
                        • 15195

                        #56
                        Re: How much are you in debt?

                        Originally posted by Rainey
                        Get a job JJ! lol
                        Haha, JJLinn's job search is currently entering year 2, still no luck.

                        Comment

                        • MachoMyers
                          Old School
                          • Jul 2002
                          • 7670

                          #57
                          Re: How much are you in debt?

                          Originally posted by JJLinn
                          Haha, JJLinn's job search is currently entering year 2, still no luck.
                          Keep going to school and get A's.

                          All these guys with $0 debt are the guys that fill up my gas tank. :wink:

                          Comment

                          • Jistic
                            Hall Of Fame
                            • Mar 2003
                            • 16405

                            #58
                            Re: How much are you in debt?

                            Originally posted by themush


                            Equitable debt. Meaning you don't pay us we take it. Not as bad as unsecured debt. CC, signature loans, etc....

                            Don't pay the mortgage the bank takes your house. Don't pay your CC it hammers your credit but, they won't come take your CC from you.

                            Now with that said if you ever want to own your own house don't get into tooo much CC debt.

                            Pay your bills people. Just pay your bills.
                            Don't know what the finger wagging is for. But it's DEBT. Debt is debt. Thanks for the sage wisdom though.
                            PSN: JISTIC_OS
                            XBOX LIVE: JISTIC

                            Comment

                            • 3rdAnswer
                              Regular Cat Records®
                              • Sep 2002
                              • 10845

                              #59
                              Re: How much are you in debt?

                              No debt other than a school loan I'm about to get for next semester.
                              -Jay Illestrate, Emcee/Producer/Graphic Artist
                              www.REGULARCATRECORDS.COM
                              New York Giants - Duke Blue Devils - Charlotte Hornets - San Antonio Spurs

                              Comment

                              • mjb2124
                                Hall Of Fame
                                • Aug 2002
                                • 13649

                                #60
                                Re: How much are you in debt?

                                Originally posted by Xavier12
                                All these guys with $0 debt are the guys that fill up my gas tank. :wink:
                                Heh.... Don't think so. We probably just manage our money better.

                                Comment

                                Working...