[val738]

I always hear that most people are in SUCH debt, but it just seems so hard to believe. I was just wondering how much you owe, minus your house and vehicles, because I think almost everyone owes for those. So, credit cards, student loans, judgments, etc. It is anonymous.


Valerie

[val738]

Hey I was still doing it!!!
I only put one-two grocery shopping trips on it a month, and pay it off every month. I only have one credit card... Thats also in the minority, from what Ive heard....

[reminisce71]

No credit cards here, just Dh's student loan. I don't think he is ever going to get it paid off.

[val738]

I mean, the only reason I put the groceries on there is to raise our credit. It was REALLY REALLY bad a couple years ago.

[mommyoftwins]

Originally Posted by val738

I always hear that most people are in SUCH debt, but it just seems so hard to believe. I was just wondering how much you owe, minus your house and vehicles, because I think almost everyone owes for those. So, credit cards, student loans, judgments, etc. It is anonymous.


Valerie

I count debt on vehicles as debt, no not everyone has an auto loan so I wouldn't think it would be a "given". I would consider debt to be ANYTHING but the mortgage including credit cards, loans, HELOCs, cars, student loans, ect.

just my .02

[val738]

Well, in that case, Im flat broke.. . But that wouldnt really be a fair poll either because my $215,000 house in Illinois is about $150,000 in Texas and $800,000 in California. So that debt, I mean, its still debt, but its different. Vehicles would be about, uhhh.... you guys are going to laugh at me now. About $65,000 for my van, his car, and his Harley.

[mommyoftwins]

Originally Posted by val738

Well, in that case, Im flat broke.. . But that wouldnt really be a fair poll either because my $215,000 house in Illinois is about $150,000 in Texas and $800,000 in California. So that debt, I mean, its still debt, but its different. Vehicles would be about, uhhh.... you guys are going to laugh at me now. About $65,000 for my van, his car, and his Harley.

I said I wouldn't include the mortgage but YES auto debt is debt (says Dave Ramsey ). That was one of our problems before, the assumption that car loans and student loans "didn't count" because everyone has them. Well we finally woke up and bought used cars that we could afford and refuse to enter the car loan game again. We're still working on those darn student loans....

Yikes! You owe $65K on cars?? Ouch!

[val738]

Before I started coupons and sale shopping, I was spending about $1000 a month on groceries. Now I am doing about $500, so that extra money goes to pay off DH's Harley 3 1/2 years early, saving us $5000 in interest. And then rollover the money to the next vehicle and then the next. So Im hoping that one day I wont have a car payment, but it will be a LONG time before no house payment!!!

[val738]

Well, DH had a little tiny truck. I got preg, he bought a car. He hated the car, we rolled the leftover amount onto the truck. Gas prices SOARED, so he traded in the truck for a little car, rolling it over again, but keeping the monthly payment the same.

My car, when I was a single mom and poor, I did what I could and got a lease. That was done, and I started doing daycare and needed a van. DH hadnt gotten the truck yet, so he said, get whatever you want! I got the CHEAPEST model I could, but with the stow 'n' go still. That was way before I was frugal, unfortunately.

And DH HAD to have his bike.... thats only $10K though... ONLY


In our old house, we were paying more for our cars a month than our mortgage....

[rojhan]

I wonder if this is another poll that would be better off not using absolute numbers.
$10K in debt for somebody that makes $10K/year is a lot. $10K in debt for somebody that makes $100K/year isn't really "as much". Maybe a better question would be what your debt-to-income ratio is?

On the plus side, I'm less in debt (in absolute numbers, excluding mortgage) than I was 10 years ago, and I've had a couple of pay increases since then. Still working on getting debt down as close to zero as I can, though.