how much debt do you have? - Mothering Forums
View Poll Results: how much debt do you have?
none! 113 26.65%
$1-$5,000 46 10.85%
$5,000- $15,000 77 18.16%
$15,000- $50,000 114 26.89%
$50,000 to $150,000 48 11.32%
$150,000 + 26 6.13%
Voters: 424. You may not vote on this poll

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#1 of 139 Old 04-20-2009, 07:13 PM - Thread Starter
 
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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?

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#2 of 139 Old 04-20-2009, 07:20 PM
 
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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.
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#3 of 139 Old 04-20-2009, 07:25 PM - Thread Starter
 
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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

eh. who needs a signature?
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#4 of 139 Old 04-20-2009, 07:34 PM
 
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Excluding mortgage, we owe about $3000 on our car. That's all.
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#5 of 139 Old 04-20-2009, 07:39 PM
 
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We have a lot:

more than 200k in mortgage
25000 in student loans
still 8000 on our car
2000 in cc debt
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#6 of 139 Old 04-20-2009, 07:42 PM
 
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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).

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#7 of 139 Old 04-20-2009, 07:42 PM
 
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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.

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#8 of 139 Old 04-20-2009, 07:49 PM
 
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I voted none, but we still have our mortgage.

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#9 of 139 Old 04-20-2009, 07:51 PM
 
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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.
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#10 of 139 Old 04-20-2009, 07:56 PM
 
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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.

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#11 of 139 Old 04-20-2009, 08:04 PM
 
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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!

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#12 of 139 Old 04-20-2009, 08:07 PM
 
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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

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#13 of 139 Old 04-20-2009, 08:08 PM
 
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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.
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#14 of 139 Old 04-20-2009, 08:19 PM
 
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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!
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#15 of 139 Old 04-20-2009, 08:54 PM
 
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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.

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#16 of 139 Old 04-20-2009, 09:00 PM
 
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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.

Me Wife to T (14 years)Mama to Princess(4) and Monster Boy(my 1 year old ):
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#17 of 139 Old 04-20-2009, 09:00 PM
 
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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.
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#18 of 139 Old 04-20-2009, 09:11 PM
 
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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.

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#19 of 139 Old 04-20-2009, 09:36 PM
 
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The only debt we currently have is our mortgage.

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#20 of 139 Old 04-20-2009, 09:41 PM
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Just mortgage here. Two years ago my answer would have been much different!
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#21 of 139 Old 04-20-2009, 09:42 PM
 
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Excluding mortgage ($50,000), we have $40,000 in student loan debt (two undergraduates, and two graduate degrees in progress). We don't have any other debt. Our mortgage payment is so much less than renting in our area that we are able to pay a good bit towards principle monthly. Student loans, meh, I'm not happy about it, but to us it is worth it.
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#22 of 139 Old 04-20-2009, 09:49 PM
 
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We owe about $3K on our credit cards. That's everything.

We were completely debt free until we lost our baby. We went a little overboard that Christmas, trying to just force Christmas spirit into place (buying gifts, decorations, eating out and take out, renting comedies, etc. etc.). Our tv also blew up, and we felt it necessary to get a new one, and spent too much. Ordinarily, I'd have just left it, but we really felt like we needed the tv (the movie "Elf" saved that Christmas). Then, dh needed a new bike (he cycle commutes to work).

We're working on it, but I decided to go ahead and attend the ICAN conference, so we're not making the strides we should be. We intend to have it paid off by the end of July. I hate carrying debt.

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#23 of 139 Old 04-20-2009, 09:50 PM
 
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I checked $150,000+ but it's our mortgage. We don't have any other debt.

My advice may not be appropriate for you. That's ok. You are just fine how you are and I am the right kind of me.

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#24 of 139 Old 04-20-2009, 09:51 PM
 
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no mortgage here (yet)

we have about 50k in student loans (ungrad and mba)

we will be needing a car in the near future.
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#25 of 139 Old 04-20-2009, 10:03 PM
 
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None. But then again, we don't have much in savings or stuff either... we live with my dad, and DH is going to school for paramedic/firefighter while we both job-hunt...
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#26 of 139 Old 04-20-2009, 10:40 PM
 
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Our mortgage is about $60 0000 and we have about $3000 left on the car. No cc or student loan debt left though.

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#27 of 139 Old 04-20-2009, 10:52 PM
 
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I voted for $50-150,000, because I'm including the mortgage. We owe about $30K on our first house (which we hope to finally sell in the next couple yrs to the couple who is currently house-sitting), and $47K on the house we live in- so $77K in mortgage debt.

If I left out the mortgage debt, then our consumer debt is "just" $14K on the vehicle we bought today. We paid off our student loans and credit card debt a few months ago, but now it feels like we are back at square one, since the debt we acquired today is about the same amount as what we worked so hard to pay off last year.

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#28 of 139 Old 04-20-2009, 10:56 PM
 
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I checked $15,000- $50,000 , that's all car debt. Student loans are paid off, no credit card debt, we do have a mortgage though.
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#29 of 139 Old 04-20-2009, 11:06 PM
 
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wow. reading your number makes me depressed lol.

combined we have around 100k with NO mortgage:

~60k in student loans
~20k left on car
~15k in credit card and medical debt

on one income with a husband who has poor spending/saving habits, i'll probably be in debt for the rest of my life unless i declare bankruptcy (90% of the debt is in my name because of DH's poor credit. that wont' get rid of the student loans though)

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#30 of 139 Old 04-20-2009, 11:15 PM
 
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Excluding mortage we have a few thousand to pay off on a home equity loan for new flooring a few years ago.

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