Do you have debt?

[Diesel_Bomber]

I saw a bumper sticker that said "Debt is normal. Be abnormal." I really liked it. I also heard on the radio last Christmas that 30% of people were still paying off purchases made the previous Christmas. Blew my mind at the time. Got me wondering, and the bumper sticker popped debt back into my mind, and I'm curious, hence the poll.

Pretty simple, "no" answer means no, none, do not owe a cent to anyone at all. "Yes" means of course yes, and would encompass credit card, auto loan, student loan, medical bills, etc. I've heard several people says they don't have any debt "except for mortgage." While mortgage is of course debt, I think I'll add another category for "I owe on my mortgage but nothing else."

Thank you, folks.

 

[Vesper]

My wife an I paid off the mortgage as fast as we could, and since have only bought stuff with cash. The credit card gets paid off monthly. It's a good feeling to be on top of the wave instead of underneath it (where I've been too).

 

[Per-Sev]

I paid my house off and all my credit card debt in 02 after I received my injury settlement and am still debt free I never run a balance on my charge cards so I don't pay any interest on them. I find it would be very easy to run up a balance again but I never want to have that feeling again of not knowing what to pay first since because of my injury I could not work and almost lost everything till I won my case.

 

[Linger]

Student loan, mortgage.
Car is paid for.
My credit card literally pays me. It is a 'cash back' on purchases, I never carry a balance so each anniversary I get some hundred bucks.

To me the underlying issue is: are you generating wealth - or - debt. I live below my means, with cash + vacation time banked for months.

Usual figure is that 'average' household is 2 paychecks from bankruptcy. Now if I leveraged myself more my rate of increase in my net worth would increase, but the cushion would be gone. And I just don't feel comfortable without $ in the bank.

 

[BatteryCharger]

Usually nothing, although there was a little incident last week and now I owe $800...*sigh*

I don't have a credit card or credit of any type.
I don't buy a car unless it's with cash.
I don't buy ANYTHING unless it's with cash...

 

[garden]

Nope, I'm not in any debt at all, no mortgage.
Grammar?
Are you in debt?
Do you have debt?

 

[jabe1]

Yes, some. No mortgage, house is paid off! just old CC debt from a previous divorce.
I still have 2 cards, but don't use them except in extreme circumstances.

 

[rodfran]

Debt free!

 

[ninemm]

Student and car loans. Currently renting :sick2:

 

[NonSenCe]

stickers i could put on my stuff:

"i might drive junker cars, but mine have ALL been bought with CASH!"

"if you "buy" it with a loan, you 1. dont really have afford to it. 2. dont really own it, the bank does."

"i dont owe people money, they owe me"

"plastic money (credit cards) is not real money, nothing costs anything if you just swipe a card, pull the bills out of your wallet and you KNOW what it cost."

"cash is king in my court. and only with cash discount is possible."

" you need to be able to ULBAR it without worry. Use it, Loose it, Break it, Afford it, Replace it."

---and most importantly---

" i am poor, i dont have afford to take/have debt."

so.. NO DEBT in my case. (but this might change when i get kids and family, then i can see some good reasons to get some mortage or sort)

 

[Diesel_Bomber]

Thank you for the responses, folks.

 

[emac]

I do not revolve the balances on my credit cards thus I do not pay interest. I just use them to consolidate purchases to one bill a month.

However, I do have a car loan (42 months left)
and a mortgage (355 months left)

It is kinda depressing to see those numbers which is why I am paying over the minimum to knock them out as fast as I can. I was raised in a no debt household however just starting out life after college it is hard to not have debt. At least I do not have student loans thanks to scholarships, busting my *** during the summers, working part time during school, and a lil help from mommy and daddy. lol

 

[fisk-king]

Hi everyone. My name is Fisk...and I'm in debt.

After the many years of learning/resolving my mistakes that I made in my early twenties (credit cards/student loans) I now have a handle on my finances. I am fortunate enough to land the job/career that I am in but also understanding budgeting and saving. I've maxed out my contribution in my retirement fund but hell that can go anytime I guess. In a year/half, I will be totally debt free.

O.T. -Anyone recommend any books on the subject of handling finances?

 

[Launch Mini]

Debt is not always a bad thing.
IMO if you are paying it down a d not refinancing to live it isn't as negative as so many lead you to believe.
I don't think many with debt will say so here as there are too many negatives associated with it.
I have debt but I have it working for me increasing equity. No credit cRd balances nor caroans though.

 

[MCFLYFYTER]

I am still trying to figure out how the 25 people who have no debt are accessing the internet. Is you internet service pre-paid? Even if you were using free dial-up, you would still need a land line. So, unless you live in a cave and are 100% self sufficient, Your ARE indebted to someone. Don't kid yourself.

 

[Per-Sev]

I am still trying to figure out how the 25 people who have no debt are accessing the internet. Is you internet service pre-paid? Even if you were using free dial-up, you would still need a land line. So, unless you live in a cave and are 100% self sufficient, Your ARE indebted to someone. Don't kid yourself.

I go the library and use there computers for free, I have a solar panel on my roof for electricity I have a well in my back yard for water. I have a garden and grow my own food and I hunt squirrels for meat using a sling shot. I make my own paper using pulp. I drive a horse and buggy for transportation.
I don't own a phone I use smoke signals and drums to call my friends. I make my fabric from a spinning wheel and sew my own clothes. So am I debt free?

 

[andrewnewman]

I am still trying to figure out how the 25 people who have no debt are accessing the internet. Is you internet service pre-paid? Even if you were using free dial-up, you would still need a land line. So, unless you live in a cave and are 100% self sufficient, Your ARE indebted to someone. Don't kid yourself.

Per-sev's ...er... unique circumstances aside I think the spirit of this thread has to do with debt that is incurred to address a cash flow circumstance (e.g. not having the money) for which people pay formal interest.

Certainly a credit card you pay off every month represents debt but it doesn't formally cost you anything unless the credit card chooses to charge a yearly membership fee. Sure we all know that the vendor builds the cost of taking a credit card into their retail costs but unless they give a cash discount it's a moot point. Further, even if they did give a cash discount, then that would represent a "convenience fee" rather than traditional debt.

My town charges me up front for property taxes so that *they* remain indebted to me for 12 months. The local restaurant charges me for the food I eat after I've eaten it. I, therefore, carry a 1.5 hour debt to them. I don't think any of these circumstances are what we are talking about...

 

[Steve K]

I am still trying to figure out how the 25 people who have no debt are accessing the internet. Is you internet service pre-paid? Even if you were using free dial-up, you would still need a land line. So, unless you live in a cave and are 100% self sufficient, Your ARE indebted to someone. Don't kid yourself.

well, when I get the bill from my ISP, I write them a check. Same for electricity, credit cards, etc. I budget, so I know that I've got money in the bank to cover all expenses plus spare cash to handle a wide variety of emergencies.

On the other hand, I do feel that I owe a debt for all the things my parents have done for me, to my fellow citizens for my education and community support, and to the folks who have served in our armed forces for doing the dirty job of keeping us safe.

regards,
Steve K.

 

[KC2IXE]

I have a mortgage, BUT also have the cash in back that if I wished to, I could write a check for it tonight. Because of tax reasons, it's better for me to have it invested, than to pay off the mortgage, so I don't

 

[KC2IXE]

I am still trying to figure out how the 25 people who have no debt are accessing the internet. Is you internet service pre-paid? Even if you were using free dial-up, you would still need a land line. So, unless you live in a cave and are 100% self sufficient, Your ARE indebted to someone. Don't kid yourself.

My web site pays me more than it costs per month, and yes, they bill me at the end of the month, but there is cash in bank to handle it. I don't hink folks are counting revolving credit that is paid in FULL each bill - if they wanted to charge me interest or would give me a lower rate to prepay, I'd be fine with doing that - IF they were giving me a better deal than what I earn on the money for their bill every month