How much debt do you have?

[Alzar]

Just wondering...My (our) generation is known to be irresponsible with money and credit cards, but also the cost of living is pretty up there (and school and alla that shiz).

One year after graduating from college...I have $23,000 total debt... $6000 left on my college loan, $17000 left on my car loan. Fortunately no more credit card debt.

I probably have like $12000 worth of total assets (not counting the car, which will depreciate into worthlessness anyway)...Just junk and savings, no 401k or stocks or bonds or anything. Actually wait I think I have a $200 savings bond and maybe a gold coin. But yeah. WOO NEGATIVE NET WORTH

Total monthly expenses and loan repayments and insurance and all that crap are probably like $2000/mo (in Suburbia, OR, which I'm not exactly sure is more expensive than other places...I think its probably average)

yeah

How's everyone else doin?

[Seraph]

Re: How much debt do you have?

I owe the library around $250, and I owe Bell Canada around $500.

[Big Rick Cook]

Re: How much debt do you have?

I have no money coming in. I have somewhere around $3,000 debt from this trip I took, cause I put a bunch of it on my credit cards, so I could still have plenty of money to be shiftless and wandering for a bit longer. I have about $5,000 of 401K-type-stuff that's just sitting there, losing money like most everyone else's.

I generally operate with a $1,000 to $3,000 debt before I worry about actively paying it off. I can make monthly payments on the credit cards and still survive for several months at this point, so I'm not worried yet. Maybe the credit card companies will go under and I won't have to pay it back. ^.^

Oh wait. That's bad.

[DK]

Re: How much debt do you have?

I have about 500 on my credit card and 9000 or so on my car loan. I pay for college up front though so I'll be debt free from that.

[jvrlopez]

Re: How much debt do you have?

$0.

I get like $40,000 for college when I get out. Tuition coverage 100%, up to $4000 a semester while I'm on active duty. I'm getting certified on Network+, A+, and Security+. All for free.

My car costs $250 a month. Phone is $40 a month. Internet is $35. I pay all of it out of my own pocket. Don't need no one flipping no bill for me then turning around and charging me interest on it.

Don't know where people go around racking up debt.

Just watch what you buy.

[Biggie]

Re: How much debt do you have?

$0.

I get like $40,000 for college when I get out. Tuition coverage 100%, up to $4000 a semester while I'm on active duty. I'm getting certified on Network+, A+, and Security+. All for free.

My car costs $250 a month. Phone is $40 a month. I pay all of it out of my own pocket. Don't need no one flipping no bill for me then turning around and charging me interest on it.

Don't know where people go around racking up debt.

Just watch what you buy.

Making a living for themselves without going to the military. But I do get what you're saying. It's just that not all of our situations are comparable.

I got 300$ debt from an emergency room visit.

I also got around 100$ in pawn.

My debt aint that bad by any means, but I don't make that much money, and considering I'm living on my own without roomates, I don't have much after paying bills.

[jvrlopez]

Re: How much debt do you have?

No one's forcing anyone to take out a loan on a new car.

If you can't afford it, well then don't get it.

[DK]

Re: How much debt do you have?

But I felt like it.

[altoecko]

Re: How much debt do you have?

No one's forcing anyone to take out a loan on a new car.

If you can't afford it, well then don't get it.

Sometimes it's either get a new(ish) car or lose your job. Thankfully I live in the city and public transportation/biking takes care of most of my travel. I have my car but that was a gift from my father. I'm a little behind on bills right now but I'm not in the hole, just I wouldn't have any money for food (besides, like $20) if I paid them all off right now. I have two savings accounts and three CD's I set up when I DID have a steadier flow of income. Those CD's are set aside for big purchases in the future. Thankfully my cost of living is only about $900 a month for food, bills, and rent. My dad is paying for my college until I can get HOPE which will pay for however many years I go for as long as I keep up a B average.

So in summary: I am not in debt, but I am hanging on the verge of the abyss rather precariously.

[jvrlopez]

Re: How much debt do you have?

I bought my first car when I was 17. It cost $650. It got the job done.

[DK]

Re: How much debt do you have?

Some people don't like ****boxes. Let them get their goddamn loans.

[altoecko]

Re: How much debt do you have?

Okay, what if your car broke down due to some unforeseen variable yet you still need to get to work on time tomorrow or you won't have ANY money coming in? A nice friend could court you to work for only so long and you haven't really saved up money for such an occasion. A new car that you could just pay off slowly sounds like a rather enticing offer right then. I'm not saying it's the most intelligent option, I'm just saying it's a rather enticing/more commonly chosen than you think one.

[jvrlopez]

Re: How much debt do you have?

Some people don't like ****boxes. Let them get their goddamn loans.

Yeah, status symbols.

[altoecko]

Re: How much debt do you have?

Yeah, status symbols.

I drive an ugly ass car that if were ever the reason I got somewhere with a girl, I wouldn't want to get anywhere with her anyways. My car is a mode of transportation, but I would like it to have a bit of stability man. And you normally gotta break the $1000 mark before you can REALLY start trusting a car to run for a long time.

[Bon]

Re: How much debt do you have?

A lot.

24k to college (33k with interest)

That's pretty much the main one.