How deep in debt are you!?

N2O Junkie · 11-30-2009, 02:58 PM

Lots of postings on various sites show everyone has the best of the best a lot of the time. Living beyond your means has become a regular thing for a lot of people I know... losing their job seems like the end of the world if it were to happen.

So... just curious.

Include student loans, vehicles, credit cards, medical bills... i would rather you not include your mortgage though since that debt typically builds equity and what not.

CasterTroy · 11-30-2009, 03:00 PM

Own all vehicles except exploder: +/-$9000 loan

2 mortgages

No other outstanding debt

shmike · 11-30-2009, 03:01 PM

Quote:

Originally Posted by N2O Junkie

Include student loans, vehicles, credit cards, medical bills... i would rather you not include your mortgage though since that debt typically builds equity and what not.

That last section is debatable.

Between my wife and I, we (I) owe approx. $9k on my truck.

N2O Junkie · 11-30-2009, 03:03 PM

Quote:

Originally Posted by shmike

That last section is debatable.

Between my wife and I, we owe approx. $9k on my truck.

yeah thats why i said "typically".

Rider · 11-30-2009, 03:06 PM

The amount of debt is relative to:

A)The amount of credit you have vs the amount of credit you use

B)Your income.

I know people that have over $100K in car loans. They also make over $250K/year.

There are also people that have a $10K car loan that are making under 20k/year. The amount of debt is not important. The important number is your income to debt ratio.

zlicius · 11-30-2009, 03:07 PM

not fair, my student loans screw me in this poll, otherwise it'd be pretty decent. LOL

CrazyKell · 11-30-2009, 03:08 PM

Student loans screw me. All other debt I have worked hard to pay off. I'm not doing amazing with it but I'm working towards getting rid of it.

I try and balance this 'sensible' side with the 'you have to live for today' side of things. I have a bike, so that tells you which side won out on that day.

Rider · 11-30-2009, 03:09 PM

Quote:

Originally Posted by zlicius

not fair, my student loans screw me in this poll, otherwise it'd be pretty decent. LOL

Some of the new grads we hire after graduation are paying $550/month..for 10 years!! That shit is scary.

Cutty72 · 11-30-2009, 03:10 PM

bout 10K, but that number will go up when I get home and buy a new pickup.

CrazyKell · 11-30-2009, 03:10 PM

Quote:

Originally Posted by Rider

Some of the new grads we hire after graduation are paying $550/month..for 10 years!! That shit is scary.

$550? That's it? I wish!

View Poll Results: How much?
0-5k	20	27.03%
5k-10k	10	13.51%
10k-20k	11	14.86%
20k-30k	11	14.86%
30k-50k	12	16.22%
50k-75k	5	6.76%
75k-100k	1	1.35%
100k-150k	3	4.05%
150k+	1	1.35%
Voters: 74. You may not vote on this poll

11-30-2009, 02:58 PM	#1
N2O Junkie Trailer Queen Join Date: May 2009 Location: Tolland,CT Moto: 01 zx6r streetfighter, 08 1125R Posts: 49	How deep in debt are you!? Lots of postings on various sites show everyone has the best of the best a lot of the time. Living beyond your means has become a regular thing for a lot of people I know... losing their job seems like the end of the world if it were to happen. So... just curious. Include student loans, vehicles, credit cards, medical bills... i would rather you not include your mortgage though since that debt typically builds equity and what not.

11-30-2009, 03:00 PM	#2
CasterTroy ................ Join Date: Nov 2008 Location: NC Posts: 3,028	Own all vehicles except exploder: +/-$9000 loan 2 mortgages No other outstanding debt __________________ “Being tolerant does not mean that I share another one’s belief. But it does mean that I acknowledge another one’s right to believe, and obey, his own conscience.” Viktor Frankl

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11-30-2009, 03:06 PM	#5
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	The amount of debt is relative to: A)The amount of credit you have vs the amount of credit you use B)Your income. I know people that have over $100K in car loans. They also make over $250K/year. There are also people that have a $10K car loan that are making under 20k/year. The amount of debt is not important. The important number is your income to debt ratio.

11-30-2009, 03:07 PM	#6
zlicius Kneedragger Join Date: Nov 2008 Location: Houston Moto: Gladius Posts: 179	not fair, my student loans screw me in this poll, otherwise it'd be pretty decent. LOL

11-30-2009, 03:08 PM	#7
CrazyKell Vrooom Join Date: Nov 2008 Moto: 06 ZX6R Posts: 4,427	Student loans screw me. All other debt I have worked hard to pay off. I'm not doing amazing with it but I'm working towards getting rid of it. I try and balance this 'sensible' side with the 'you have to live for today' side of things. I have a bike, so that tells you which side won out on that day.