Debt Free?

peter80warrick said:
Since we are looking at it for retirement, we need a lower cost of living and also want something that is sunny most of the year. Spokane basks in about 260 days of sunshine a year. Want to get out and soak up that vitamin D? The Spokane area has 76 lakes and five ski resorts, plus plenty of golf courses and wineries.

The city has urban appeal too, with a downtown that's become a destination for retirees looking to trade high maintenance homes for condos that are walking distance from restaurants, art galleries, and theaters.

I want the west coast because of sports. I hate even now not making it to the end of a game and am jealous of games starting at 5:30pm versus 8:30pm for us.
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I would also suggest Bend, OR. Probably even more sunshine and definitely more to it than Spokane imo. Cost of living may be a bit higher though.
 
SoundnFury said:
the debt i took for school is outlandish and uncalled for.

biggest mistake i ever made.
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This right here. But after reading 2 chapters of Rich Dad, Poor Dad, I see why I made that decision :smh: Can't worry about things that already happened though. I'm gon get myself right
 
ThuG LyFe said:
Good thread. I only recently started planning my expenses and couldn't believe how much I was spending before especially on useless things. First thing I switched was use of credit cards. I was drawn in by the cash back and while I've built up some points I did spend a ton of money at the same time. Now that I'm just taking out cash, I "feel" it more and tend to spend less on things I don't really need.

Also finally down to <$32k in student loans (from ~$100k 2 years ago) and it'll be paid off by next year according to my plan. My car lease will also end around the same time I'm done with student loans so I'll be debt free (for the time being) then and can start saving for bigger things in life like engagement/marriage/ and a house.
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How did you knock your loan down so fast?

I been owing 70k or so for almost a decade... I might start putting 2k a month on it with a good side hustle
 
RonsWeedRoom said:
 
interest is based on your credit score not the price of your home.

I'm tier 1, 780 score, 3.75% 30 year...I have a duplex that has a 137k balance so the payment is $6xx. plus escrow for taxes and insurance which is another $500.

I have a house I rent to students that pays for itself and the duplex and that has a 250k balance at 4.25% (had big balance on my credit card when they pulled my application).

I knock on wood everyday that I keep tenants for the next 10 years so I can pay both homes off without coming out of pocket.
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WOW that 250k loan is like almost 200k interest. So its like paying double for the house.

Silly me, i always thought the interest rate was  % times the cost of house. So for 250k at 4% or so I though that would equal interest to about 10k..

But I got it wrong according to mortage calc. So a 250k house loan would be about 179k interest if its around 4% 30 year right?

Good mortage calc http://www.interest.com/mortgage/calculators/mortgage-calculator/
 
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Clearing up my little debt should be all gone in feb shoulda done it a long time ago but im on my way also
 
I like this thread. We should make this an official NT Debt Free thread and share ideas and updates of our commitments to get our debt right.
 
Will be CC debt free by December of this year. Had amassed a lot of debt within in a few months last year smh live & learn.

I've been struggling trying to decide if I want to pay off my student loans (30K) in a total of 2 years or stretch it out to 5 years. Leaning toward 5 years and using the extra money to buy a few rental properties . But at the same time it will feel good to be completely debt free.
 
I have 6 grand on a credit card I'm trying to pay off and have about 3 grand of old debt from college. Recently put myself on a budget to knock this out in a 6 months to a year.
 
I have about 25k in student loan.
12k left on car note
Small balance on credit card.
One outstanding debt I'm paying back now. I worked hard this last year to pay everything off. Still got a way to go but I'm better then I was last year.
 
Car note, but that's paid for on time. Also my Credit Card is always paid in full. I've got about two years left on my car note, but my credit is looking :pimp: for a 19 year old.
 
xbiker47 said:
Putting my head down and trying to clear off my cards right now
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How secure is your job? If it's very secure I would say go to your local credit union and put a lien on your car. Take the equity of the vehicle and use it to consolidate your debt. You'd be paying off that debt a a much lower rate than your credit cards. You'd be surrendering your pink slip until the lien is paid off, but what's more important? Holding onto that piece of paper (which you'd still be driving the car anyway) at the cost of paying more in interest or saving money every month while paying down debt?
 
22 Years old, Debt Free (No student loans, CC paid in full every month).

Alot of credit available, using it to a minimum so my ratio of used credit to revolving credit available is really low.

Saving up some cash to most likely put it down on a condo eventually.
 
jjs136 said:
22 Years old, Debt Free (No student loans, CC paid in full every month).

Alot of credit available, using it to a minimum so my ratio of used credit to revolving credit available is really low.

Saving up some cash to most likely put it down on a condo eventually.
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pimp.gif
 
jjs136 said:
22 Years old, Debt Free (No student loans, CC paid in full every month).

Alot of credit available, using it to a minimum so my ratio of used credit to revolving credit available is really low.

Saving up some cash to most likely put it down on a condo eventually.
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Idk where u live but what do u do?

I'm in the same exact boat and 27 with a solid job in OC and my goal is to have a house by 32-33
 
Debt free :pimp:

Got two credit cards that I pay off in full every month never use them if I dont actually have the money for it

Got a car i paid in full for, when I was car shopping almost sprung to finance a slightly newer model but decided against it because it seemed like I was going to have to pay that thing for years :lol:
 
Ecook0808 said:
jjs136 said:
22 Years old, Debt Free (No student loans, CC paid in full every month).

Alot of credit available, using it to a minimum so my ratio of used credit to revolving credit available is really low.

Saving up some cash to most likely put it down on a condo eventually.
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Idk where u live but what do u do?

I'm in the same exact boat and 27 with a solid job in OC and my goal is to have a house by 32-33
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Montreal :smokin

I work in Banking. Entry level so the income is not the best but I will only go up from there

I live with my mom so the expenses are minimum. Plan is to save 10k a year for the next 3 years.
 
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jjs136 said:
Montreal :smokin

I work in Banking. Entry level so the income is not the best but I will only go up from there

I live with my mom so the expenses are minimum. Plan is to save 10k a year for the next 3 years.
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Probably a lot cheaper than here lol. House here in OC is avg. 720k :x
 
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Ecook0808 said:
Probably a lot cheaper than here lol. House here in OC is like 720k :x
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Some neighborhoods here are in that range too :x

Lookin at a condo so i won't be droppin that much for sure.
 
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BeezyGotSole said:
Honestly I would wait for another market correction out there. The cali market is od hot right now.
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I've been thinking of buying in Corona. Houses are cheaper and as more people come, the more it's going to spread out.

But yeah ur right in general.
 
Ecook0808 said:
I've been thinking of buying in Corona. Houses are cheaper and as more people come, the more it's going to spread out.

But yeah ur right in general.
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I would hate for you to buy at the peak, or near the peak. Is Corona close to OC?
 
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