How much debt do you have? I have about $50,000, including a car loan and consumer. (not including mortgage)?
Please tell me what your total debt figure is and what does that debt include. (student loan, car loan, credit card, etc) I’m really curious as to what kind and how much debt others have in comparison to mine.
I really appreciate people who take the time to answer questions. Just want to point out though, that I’m not in financial trouble and don’t need a loan! I’m just curious about average debt loads.
My husband and I recently bought a Mazda 3 and owe the car note…our house is paid for, we have no credit card debt and live very simply…so the car and all that entails…then just monthly bills…
About $26,000. That includes our car, loan, credit cards. We also have a mortgage and monthly bills to pay but that is separate from this. That $26,000 is all our bad credit. Blahhhh….
Around $78,000.00 on my home. No other debts other then utilities, cell phones and Directv.
No credit card debt and no auto loan. I co-signed for my brother’s car so he can get a good rate but he manages it and has been responsible with it.
I use credit cards to pay all my bills that I can (via auto pay) and buy stuff I need like grocessries and gas (and get 1% cash back) but I pay off the entire balance every month in full so I dont pay any interest on credit cards. Usually the balance reported is about $600 to $800. I tend to use the credit card instead of cash and can get away with it because I dont treat plastic as free money nor go on shopping sprees or buy things spur on the moment. Plus I like the 1% cash back option. If you treat credit cards to replace cash, you will never run into credit problems. You only buy things when you have cash for it right? Treat plastic the same way!
Mortgage is 140,000 off which I have paid $10,000 towards principal in 2 years.
I have read (can’t remember the source) that to remain financially solvent and comfortable, your house should not be worth more than 3 times your yearly salary before taxes and your car should not be worth 1/3rd the yearly salary before taxes. Otherwise you are paying too much towards mortgage and car. You should also have 6-12 months of your monthly expenses in your bank account available at you all the time in case something happens to you. Now these are just guidelines. Depending on your spending habits this could alter a wee bit.
I should get myself a new car. She is 13 years old and probably worth $1000 but unless I run her into ground, I dont see a point to spending 25000 on a new car. She can probably last me another 2 years! I can afford a new one but I am cheap like that
If you have major revolving debt on credit cards, bring it down. You will be paying entirely too much in APR and will never get out of it.
For my hunband and I, we have $7500 on 0% interest credit cards, a 7 year car loan @10% interest rate with a balance of $30,000, and $10,000 in school loans.
So a total of $47,500.
It should really save you hassle to just get a car loan quote online to verify what todays rates are. You might be totally suprised. Also if your credit is not the best, a lot of them are more willing to work with people.
What I most often tell folks is that an online quote at is the way to go.
I owe 13,500 in credit card debt only, have
2 mortgages 1 for 78k the other for 20k
We own our 3 cars, my husband has another 10k in ccdebt
MY PARENTS HAVE ABOUT 100,000
(WITH MORTGAGE UTILITIES AND CELLPHONE BILLS)
IT’S CRAZY HOW SOME PEOPLE CAN OWE MORE THAN THEY MAKE IN A YEAR. DEBT ***** ESPECIALLY WHEN YOUR MOM IN A HOARDER AND SPENDER.