How deep in debt are you!?

[pdog]

It's not in my name so legally it's not mine. And 2.7% interest over 30 years means the payment's less than 5% our monthly income. So yeah, it's a big number but it doesn't worry me.

Originally Posted by pauldun170

So in other words you have shedloads of debt.

[pauldun170]

Originally Posted by pdog

It's not in my name so legally it's not mine.

A judge or lawyer might say otherwise

Her debt is yer debt

[pdog]

Yes, she has to pay it off which ultimately means less money for us, but if she passes away tomorrow, I'm not responsible for any of it.

"Debt incurred outside the marriage does not make your spouse responsible, but any loans or lines of credit obtained during the marriage makes both partners liable."

Originally Posted by pauldun170

A judge or lawyer might say otherwise

Her debt is yer debt

[racedoll]

Pre-April very little <$5K.
Post-April >$20K due to a new car purchase.

No student loans, school was paid as I went. No scholarships or government assistance. Work did help the last 3.5 years but prior to that was mostly out of my pocket.

[Amber Lamps]

I have zero debt. Bike paid for. Car paid for.

My monthly expenses are;
Rent $460
Gas/Elect $100 (approx)
Cable/internet $40
Insurance $120 full coverage bike&car
Groceries $2-300
That's about it... Where I save money over most people is by not drinking, smoking or going out to eat too often. I know people who drop $500+ on those 3 things alone per month. Not to mention my lack of sponges...I mean spouses and children...

[t-homo]

I would hate to see how much I spend on smoking and beer through the year.

[Amber Lamps]

Originally Posted by t-rock

I would hate to see how much I spend on smoking and beer through the year.

That's hilarious!!!!

[TYEster]

I'll say I owe some money. 1 house, 1 car, 1 credit card, it's math.

[Captain Morgan]

Since you aren't counting mortgage, you could say I'm $2300 in debt, but I don't really look at it that way. It's 0% interest and I could pay it off right now if I wanted to, but I don't really see the point. However, $1100 of it is due after the first of the year, so I'll be paying it off then. The other $1200 is 0% interest until 2014, so that won't be paid off anytime soon.

If you want to count mortgage, I'd be about 53 or 54k in debt. Not really worried about that either, since my mortgage payment, plus insurance, plus taxes is all less than I'd pay in rent for an apartment this size. Also, like you said, I'm building equity in the house by fixing it up, especially since I'm doing most of the work myself. Only things I've hired out are carpet and tile installation, but I did all the prepwork for both.

I try my best to live beneath my means since I've been in bad shape a couple times. I've managed to dig myself out each time, but don't want to get into that boat ever again, which is the biggest reason I'm still bikeless. I could have bought a bike a couple years ago, but to me (as much as I love having one), motorcycles are luxury items and I refuse to go into debt for a luxury. I'm also kind of stubborn and want exactly the bike I like, rather than settling for less. Not much longer, though.

[t-homo]

glad to hear it capn.