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How many here are debt free?

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How many here are debt free?

Old 06-10-05, 09:11 AM
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How many here are debt free?

totally, completely debt free?


If not totally debt free, how many have only a mortgage?
Old 06-10-05, 09:14 AM
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My wife and I have a mortgage, and that's it.
Old 06-10-05, 09:16 AM
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Old 06-10-05, 09:17 AM
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i never believed in credit card debt - meaning, i didnt treat it like credit. i treated it like cash. if i wanted something that cost $500 and i didnt have $500 in my bank, i just didnt buy it. period. even though i had plenty of credit and could have bought it easily. temptation is tough but credit card debt is a bitch.

i paid off my cards EVERY TIME.

i cant understand how someone buys a $2000 tv for example but doesnt have the money to do so, so instead ends up paying teh minimum on their balance every month - in the end that $2000 tv costs $4000. nice.

if its something you MUST HAVE, then i understand but i know too many people who bought crap because they HAD to have it.
Old 06-10-05, 09:19 AM
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will be in october
Old 06-10-05, 09:19 AM
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Not even close:
Car
CC
School
Old 06-10-05, 09:21 AM
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I have a car payment, student loans, and a mortgage, but I don't have a cent of credit card debt, and I have a pretty tidy sum of money saved up. I don't consider myself in debt, even if by some strict definition I am. (Like atari2600, I use credit cards all the time, but I pay them off in full every month.)
Old 06-10-05, 09:23 AM
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I love 0% financing deals

what's not better than buying something and paying it off over a few years without paying interest. In real dollar terms you are paying a lot less for that item.
Old 06-10-05, 09:25 AM
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just a mortgage.. but i haven;t made my 1st payment yet, so i have 30 years left
Old 06-10-05, 09:26 AM
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Debt free. No student loans, own my car outright, no mortgage.
Old 06-10-05, 09:31 AM
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How many of you without a mortgage have a home paid free and clear?

Not debt free, not for a long time, although I would love to have this house paid off quickly.

Atari: I bought a $2000 TV for 0% and paid within a year with no finance charges. And people with no credit cards usually have trouble getting the best financing (if you're just starting out).

CCs are necessary evil, key word being evil.

What I will never NEVER never NEVER understand is how anyone can or is willing to pay $500-$700 on a new car or truck. Especially people renting at $800/m or that live in a $100,000 house.

I love cars, don't get me wrong, I just see them (as much as CCs) as being a money trap for a lot of people. Too many people are hung up on being proud to "own a new car" when it's really not helping them.

Last edited by The Bus; 06-10-05 at 09:34 AM.
Old 06-10-05, 09:36 AM
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Originally Posted by The Bus

Atari: I bought a $2000 TV for 0% and paid within a year with no finance charges. And people with no credit cards usually have trouble getting the best financing (if you're just starting out).
nothing wrong with that. USING credit isnt bad at all. if you use it right.

and if you cant get good financing and cannot afford the tv, then dont buy it (for whoever that applies too).
Old 06-10-05, 09:38 AM
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Does anybody want to buy a healthy kidney? How about a liver? Barely used.

Then I can talk about being debt free.
Old 06-10-05, 09:44 AM
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I have no consumer debt, which is what I am really concerned about. I figure I will have mortgage and probably auto payments most of my life. Everything else is on a cash-basis though. The only thing we use credit for are big purchases, vacations, etc. but we pay them off the first month.
Old 06-10-05, 09:45 AM
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I only have my student loan to pay off. Car's paid off, no CC debt and I rent.
Old 06-10-05, 09:47 AM
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only a mortgage. car is paid off.
Old 06-10-05, 09:48 AM
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Not yet, but am on a plan that will have us debt free in 7 years (including mortgage). Just in time to put the kid through college....
Old 06-10-05, 09:49 AM
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No debt
Old 06-10-05, 09:54 AM
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just car. maybe a mortgage in the near future
Old 06-10-05, 09:55 AM
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Originally Posted by Adam Tyner
I have a car payment, student loans, and a mortgage, but I don't have a cent of credit card debt, and I have a pretty tidy sum of money saved up. I don't consider myself in debt, even if by some strict definition I am. (Like atari2600, I use credit cards all the time, but I pay them off in full every month.)
I'd consider the student loan and mortage as good debt and therefore not "real debt," but the car loan is certainly REAL debt.
Old 06-10-05, 09:57 AM
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Originally Posted by wlmowery
Not yet, but am on a plan that will have us debt free in 7 years (including mortgage). Just in time to put the kid through college....
I'm hoping to be out of CC debt in about 8 months, but I'll still have a car paymnet. However -- I just got an offer from my CU to refinance my car loan to about 4.6% -- only needing a 650 FICO. I'd lower my payments by about $70 a month.
Old 06-10-05, 09:58 AM
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I just have a mortgage and pay off my credit card every month, typically $3,000 to $4,000.
Old 06-10-05, 09:58 AM
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debt free
Old 06-10-05, 10:00 AM
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Old 06-10-05, 10:01 AM
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Me, debt free? I have student loans (which I will have to start paying back after I graduate in Dec), too much CC debt, and I have to get a car soon. It's not that bad really, but being a student is a bitch.

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