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debt poll  

Poll Results: Are you worried about your debt?

 
  • 50% (67)
    Yes
  • 49% (66)
    No
133 Total Votes  
post #1 of 36
6/12/07 at 2:02pm
Thread Starter 
Are you worried about debt?
post #2 of 36
6/12/07 at 2:03pm
Thread Starter 
I will volunteer that I am worried about my school loans.
post #3 of 36
6/12/07 at 2:15pm
Nope, we don't have debt. Even are house is paid in full. We don't even have any credit cards.
post #4 of 36
6/12/07 at 2:23pm
You didn't have an "other" so I picked yes. We have been working to get our life situated so we could survive off one income and safe money off the other income. Well, we finally got the first half of that accomplished. However, just as we got that part figured out so we could survive off one income, I not only found out I was pregnant but I am pregnant with twins.

So, we are currently living off one income as I have been on leave from work for 8 weeks thus far and have another 2-3 months to go before returning to work. We are surviving, and I hate just surviving But at least we aren't falling behind and things aren't rough, just no more eating out, no movies, kids aren't doing camp this summer, no summer trips, etc.

As long as nothing else happens, we should be very good to go within the next two years. And it is a good feeling to know that even if something else happens, we aren't going to sink.
post #5 of 36
6/12/07 at 2:55pm
Nope. I'm a single stay at home mom of three, living off of less than $2k a month with a mortgage of $975 a month, so I probably should be, but I'm not. I've gotten creative with my budgeting, paid off all debt other than the mortgage, and we live very frugally, but I've also learned how to have faith in God and fun with my children, and I'm happier now than I've ever been in my life.
post #6 of 36
6/12/07 at 2:55pm
No other choice other than yes and no, so I choose yes.

I have debt but have a solid plan and those debt numbers are dropping like crazy. $30K in debt will be gone in 18 months.

So my only concern is keeping our current income at it's current level. So long as that happens, no I am not worries about my debt because we have a plan.

TYhe only worry is maintaining our jobs, not a big risk of losing them, but it is always a possibility and if that would occur in the next 18 months, then yes, i would be concerned.
post #7 of 36
6/12/07 at 3:04pm
Six months ago, I would have said yes. We are in muuuch better shape now than we were then. Now I'm not worried. I'm confident that we will continue cleaning up our mess and will soon be debt-free (other than our vehicles & house).
post #8 of 36
6/12/07 at 3:14pm
I'm not.

Our total debt is $69000. Just about $13000 will be paid off completely within a year, plus at least another $7700 within a year, so a minimum of $20700 gone in a year making it $48300. We do the snowball plan for our debt so as they start coming down the rest will fall faster too. Our house has 5 years left and that's the bulk of our debt.

The economy here is really high(with a shortage of workers) & even if dh got fired he'd have another job at the same wage or higher within a couple of hours. he'd have to do something pretty major to be fired though, he threatens to do it every few weeks & they won't let him.lol He is considering changing jobs & working up north which would bring us an extra $10,000-$12,000/year. If he does & didn't like it, his current job would still be here for him.
post #9 of 36
6/12/07 at 4:21pm
Nine months ago, I was terrified with our debt levels. It kept me up at night and I had no idea what to do. So DH and I started living extremely frugally (even more than we had been). I paid every extra cent to debt. Last year, we paid off $8k in debt, on an income of $33k. For us, that was really big. Now, we're in a better position to pay off the remainder of our debt, and it will be gone by January 2008. It's been hard work, but it's actually happening!
post #10 of 36
6/12/07 at 4:33pm
That's a hard poll to answer.

Do I worry? Yes, I do. I don't worry extensively (like I did a few years ago), but I still know in the back of my mind that something unforseen and major could cause major problems for us--we haven't paid down our debt enough to be that secure yet.

Am I worried? No, as long as we continue on the path we are, we'll be fine and we'll eventually pay off our debts.

So, I'm not worry free, but I no longer feel that daily panicky feeling that we're buried under debt we won't be able to escape from that I used to feel almost constantly.

So, I guess I'll vote no.
post #11 of 36
6/12/07 at 4:36pm
I voted no. The only debt we have is our mortgage. We haven't carried credit card debt or car loans for years.

BUT, we just bought a new house, and there is a huge temptation to spend, spend, spend to get the new house and property just the way we want it. So while I'm not worried about our debt, I am conscious of the fact that I need to live and spend carefully so that we won't end up in debt.
post #12 of 36
6/12/07 at 5:26pm
I voted No.

Am I annoyed that we have debt? Yes. But we have a plan to pay it off, and I'm confident we will succeed.
post #13 of 36
6/12/07 at 5:39pm
I voted yet because of our student loans. Mine are old, and dh is currently racking up more.

We own our home & cars though, but we have about $600 in cc debt and some medical bills.
post #14 of 36
6/12/07 at 6:07pm
No. The only debt either my husband and I have right now are my student loans and they are manageable.
post #15 of 36
6/12/07 at 6:22pm
Yes. I'm very very worried. Keeps me up at night worried.
post #16 of 36
6/12/07 at 6:38pm
No. We're in a good place now and don't have any debt besides our mortgage. We're buying a new car soon and will take a small loan out for it. Our goal is to have it paid off in two years.

If DH lost his job or one of us had something terrible happen, then I would absolutely be scared of our debt. DH and I are really lucky that we have very supportive, financially secure parents that wouldn't let us get into major financial trouble. If we didn't have our jobs or our parents, I would be very scared and worried.
post #17 of 36
6/12/07 at 6:46pm
No, the debt we have is entirely by choice.
post #18 of 36
6/12/07 at 7:31pm
Not really. Not right now. Our debt is manageable at the moment. You never know what the future brings though and I do worry about that.
post #19 of 36
6/12/07 at 8:26pm
No. We have a mortgage (well we have had one for all of 6 days- first payment is due August 1st) and nothing else. We do not plan to pay anything on it except for 12-13 payments a year for the next 5 years or so. But we are young (mid 20s) and it is a fixed rate, 5.5% conventional mortgage with a payment we can afford on 1 income so I feel comfortable with the debt. We also have an emergency fund to cover house emergencies and the mortgage payment itself for a bit if we lose our income or something. Also, my husband is a student in a high demand, high starting income field so once he is done with school we can try and pay off the mortgage early if we decide it is worth it (depends on what kind of interest we can earn after he is done with school on savings and investments).
post #20 of 36
6/12/07 at 8:53pm
No, not anymore. With my DH deployed we have been paying off things, and now we only have my truck loan. I'm fine with that!
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