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how much debt do you have?

Poll Results: how much debt do you have?

 
  • 26% (113)
    none!
  • 10% (46)
    $1-$5,000
  • 18% (77)
    $5,000- $15,000
  • 26% (114)
    $15,000- $50,000
  • 11% (48)
    $50,000 to $150,000
  • 6% (26)
    $150,000 +
424 Total Votes  
post #1 of 139
Thread Starter 
i'm curious about this because it seems like the answers vary a LOT. it seems like a goal of most folks that post here is NO DEBT.

maybe my situation is different but the only debt i have is $60,000 in student loans. i am on the income contingent plan and my goal is to make 20 years of payments and have the remainder written off. so, i'm not really trying to do much about this debt except make my payment each month.

maybe if it was a reasonable amount of money, like $15,000 i'd be trying to get it down faster but $60,000 just seems like a black pit and i don't have that much money.

in fact, last year i paid all my payments and the total amount went up because of interest, so frankly, why bother?
----------------
also how big of a priority is it for you to pay it off?
post #2 of 139
do you mean consumer-type debt (car, credit cards, etc) or total debt, including mortgage? We've got zero consumer debt, the only debt we have is my student loan (close to paid off, woohoo!) and our mortgage.
post #3 of 139
Thread Starter 
yeah, i guess i should exclude the mortgage. we aren't home owners so i didn't really think about that part of it.

yay you for having your student loan almost paid off
post #4 of 139
Excluding mortgage, we owe about $3000 on our car. That's all.
post #5 of 139
We have a lot:

more than 200k in mortgage
25000 in student loans
still 8000 on our car
2000 in cc debt
post #6 of 139
I voted 'none' ... assuming that we're excluding mortgages. We've paid off car, student loans, and maintain a zero balance credit card.

If we're including mortgages, we have $125,000 owing on the house (we paid $325,000 for it 6 years ago, so we're pretty happy with the remaining balance).
post #7 of 139
No mortgage. No car payments.

$1700 - Student Loan

$6,000 or so in medical bills.

A few hundred to an auto parts store.

$100 for a phone bill.

We settled all of our credit cart debt last week with our tax refund. :

Paying off our debt is our top financial priority at the moment.
post #8 of 139
I voted none, but we still have our mortgage.
post #9 of 139
We have zero debt. Our car is paid for, we pay off any credit card use immediately. We do have a mortgage, but we owe less than half of the value.
post #10 of 139
Over $150K.
I included our mortgage because I don't believe any debt is "good" debt.
We have cc debt and I have a huge student loan and our car is not yet paid off.
WAAAAAAAy too much debt, but we are paying it off.
post #11 of 139
I voted $150,000+ too because I included our mortgage. We have paid off some cc's and our boat has one year left. We lease my car, it's cheaper for us to do this (now) we're in a mess though and had to put our mortgage on cc in October 08. (see my other thread) I'd LOVE to be debt free!
post #12 of 139
about $3500 excluding mortgage. Also excluding my DH's business debts because he is a retailer and we buy most of our inventory on a credit model.

I am not in the eliminate the mortgage camp. We have a 20 year 4.5% interest rate on our home. We owe less than 50% of what we paid and will be itemizing for a long time because we are self-employed and give a lot to our church. So I enjoy the tax deduction and don't feel that this debt is a problem.

I feel very happy about our situation and we have a plan in place to pay the consuemr debt off by the end of the year. We are planning to reward ourselves with a Valentine's weekend trip to Aruba sans children. Paid with cash, of course
post #13 of 139
We have a modest mortgage and no other debt.

We may buy a car in a few months, in which case we'll have about $10,000 in debt.
post #14 of 139
Zero cc, 2 paid off cars, owe 125K on a 184K mortgage. But--and IMO this is a biggie--DH and I are both 40. If you had asked me this question 10 yrs ago we would have had student loan, car, and possibly cc debt, and very little equity in our home. And we're not half as frugal as many here on this board. So there is hope for the indebted!
post #15 of 139
A lot!!!!!!


Here are the rough numbers:

CC -- 3600
Car loan -- 11,000
Student loan -- 13,000
Mortgage -- 165,000

The cc will be paid off in June, then we save a 10,000 emergency fund, then we go to work on the car loan next year.
post #16 of 139
Well since many aren't including mrtg. we have about $5,000 cc debt, which I hate, but the card is basically frozen to us(meaning zero usage). I pay 50 over the minimum payment currently.

It's way better than it used to be.
post #17 of 139
Non-mortgage = 0

However,

Mortgage = 200,000. Sigh.

However, that is less than half the current sale value of our home. Still feels like a gigantic weight hanging over my head.
post #18 of 139
we have about $9000 in car loans and about $77k on the mortgage (less than 10 years! w00t! : )

ETA... we just finished my student loan and one of the car loans about a month or so ago when we got our tax refund and dh's bonus. We're not snowballing at this time though - it's going to savings b/c we're nervous about dh's job security.
post #19 of 139
The only debt we currently have is our mortgage.
post #20 of 139
Just mortgage here. Two years ago my answer would have been much different!
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