Debt Free?

[peter80warrick]

Wanted to see if any of the Niketalkers out there are 100% debt free. My wife and I are debt free other than our mortgage and on target to pay that off in 17 years instead of 30, owe about 205k on it. Fully paid for 05 Accord and 07 F-150.

I do use credit cards for rewards but they are paid in full every month. Between my wife and I's cards we have probably gotten 400 + dollars so far in rewards. We then use those rewards to cover most of our Christmas gifts to the family.

Each year we would on building out a monthly budget in excel that as we look at 2014 is up to 50 different rows of where our money needs to go to keep us on track.

Also, starting to think about our retirement location, we currently live on the East Coast, but thinking West Coast, I have heard great things about Spokane Washington. Both under 30 with 200k in Retirement savings so far and would love to retire in 25 years by the time we both hit 55.

I know my drive to be debt free started with Dave Ramsey and he continued to motivate me daily.
http://www.daveramsey.com/home/

Great books to read
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Forums I read:
http://www.freemoneyfinance.com/

 

[carver]

I'm currently in the same position.

No debt outside my mortgage. No car note no nothing 

 

[yeah]

Welcome to the 20%.

Motivation for me. Good job to y'all. I'm on my way...

 

[peter80warrick]

I'm currently in the same position.

No debt outside my mortgage. No car note no nothing 

I love that feeling. Every time we go to Honda for an oil change they ask about the car because it is a Hybrid and we just tell them we love the no payment feeling.

 

[lightweight champion]

Under 30 with $200k already? Homie you're gonna have it easy before 50.

 

[crcballer55]

Paid off the student loans 4 years ago and it feels GREAT!

The wife & I do our monthly budget in Google Docs so we can collaborate on it at the same time. Much nicer than excel IMO.

We also switched to using cash for our purchases and save A LOT more than when we used our credit cards. The rewards are tempting, but you don't realize how much more you're actually spending until you go the cash route and can't overspend your budget.

 

[slicknick951]

no debt but im broke

Just gotta make it trey songs playing right now

 

[memphisboi55]

Paid off 3 credit cards this summer.. I'm striving towards it.

 

[nazdrowie]

trying to get there...

ton of student loans left but knocked off a third of a really large number in 2.5 years so i guess i got that going for me but still...long road a head

im debt-phobic b/c of this...i dont even see myself being comfortable to take on a mortgage

 

 

[lightweight champion]

|I trying to get there...

ton of student loans left but knocked off a third of a really large number in 2.5 years so i guess i got that going for me but still...long road a head

im debt-phobic b/c of this...i dont even see myself being comfortable to take on a mortgage :\  

how much are you paying in rent? I come across at least a dozen people a week who pay the same in rent for either apartment or house that they could for their own home mortgage.

 

[shogun]

My student loans will be paid off in a year, year and a half. The school loan debt some of my friends have are crazy.

 

[calypso chanta]

Just got my first job in July

+ Still got my oldish car
+ Bills paid every month
+ Student Loan bill every month
+ I had like $1000 on my credit card

This Friday I'll finally pay off that credit card! So the only debt i'll have is my student loan bill. EFFF WIT YOUR BOY DOEE!!



I'm hype.

 

[docwatson]

I'm 26. Just started grad school (4.5 more years!). No debt, (and will graduate with no debt). Sitting on a nice little nest egg from workin the past few years. Got an '09 Fusion paid, but I won't be buying a house for at least 5 years since I'll be relocating once more after grad school.

OP, I'm from the West Coast (on the east coast for school), and while its true that West Coast > East Coast, I wouldn't recommend Spokane. Well, if you're looking for more of a country-type experience maybe (also would not recommend it if you are a minority), but Western Washington is far superior to Eastern Washington. Seattle-Area is great. Perhaps the Kirkland/Redmond area (personally, my goal is to move back to Seattle-area and live on Lake Washington in Juanita).

 

[adobecs4]

Only debt I have is about $400 on my credit card. Car note if you want to add that. Other than that, I pay my school tuition (I go to a CC) monthly and I try and make payments on that evey week. Paying out of pocket is

 

[nazdrowie]

how much are you paying in rent? I come across at least a dozen people a week who pay the same in rent for either apartment or house that they could for their own home mortgage.

im not for now

i ninja'd it once i started working full time

but will be heading closer to the city in a few months because my work commute is not the business

...thats why ive been able to pay off a third of a really large number after 2.5 years...i have roughly 30k put away but have decided to start draining those funds to cover a large chunk of whats left...my payments are manageble b/c of a low interest rate but im just not comfortable with owing any sort of money at this point...im trying to go into my 30s owing as little as possible 

 

[lightweight champion]

Only debt I have is about $400 on my credit card. Car note if you want to add that. Other than that, I pay my school tuition (I go to a CC) monthly and I try and make payments on that evey week. Paying out of pocket is

Pay as much as you can out if pocket. And if you work check to see if the company you work for does tuition reimbursement. You gotta beg, borrow, and deal for every dollar to get by in school.

 

[peter80warrick]

I'm 26. Just started grad school (4.5 more years!). No debt, (and will graduate with no debt). Sitting on a nice little nest egg from workin the past few years. Got an '09 Fusion paid, but I won't be buying a house for at least 5 years since I'll be relocating once more after grad school.

OP, I'm from the West Coast (on the east coast for school), and while its true that West Coast > East Coast, I wouldn't recommend Spokane. Well, if you're looking for more of a country-type experience maybe (also would not recommend it if you are a minority), but Western Washington is far superior to Eastern Washington. Seattle-Area is great. Perhaps the Kirkland/Redmond area (personally, my goal is to move back to Seattle-area and live on Lake Washington in Juanita).

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.

 

[yanky]

This thread just reminded me that I need to pay off my cc bill today.

 

[slicknick951]

I'm 26. Just started grad school (4.5 more years!). No debt, (and will graduate with no debt). Sitting on a nice little nest egg from workin the past few years. Got an '09 Fusion paid, but I won't be buying a house for at least 5 years since I'll be relocating once more after grad school.

OP, I'm from the West Coast (on the east coast for school), and while its true that West Coast > East Coast, I wouldn't recommend Spokane. Well, if you're looking for more of a country-type experience maybe (also would not recommend it if you are a minority), but Western Washington is far superior to Eastern Washington. Seattle-Area is great. Perhaps the Kirkland/Redmond area (personally, my goal is to move back to Seattle-area and live on Lake Washington in Juanita).

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.

Reading this reminds me that i have no idea what i want to do when i retire. I have no plan or ideas

 

[jesusshuttlesworth34]

Retirement is overrated and for the lazy/boring IMO.


I don't plan to stop creating/working or doing something productive on personal/entrepreneurial ventures until I'm in the grave.



I'm Debt Free, never had a problem generating revenue.

 

[HankHill]

Only debt is student loans that I make payments on. Only been out of deferment since July though. I honestly have enough saved to pay it all off, but I'm not dropping all that at one time. Id figured id still do it quick and pay it off by next year.

Always bought my cars in cash so I didn't have to pay a car note.

Use my credit card mainly for gas. I use it on other things I get rewards on only if I have the funds available. Always put what I spend into a separate savings so I can pay the bill from that account.

Not buying a house anytime soon. Thought about it when I graduated last Dec, but I'm already moving to a different state barely a year with my current job. Probably going to move again in another 3.

 

[JVII]

Retirement is overrated and for the lazy/boring IMO.

Sounds like retirement is right up my alley.

 

[mr 100]

Debt free

Paid off all credit cards, student loans, even mortgages.

Feels good

 

[Hank Scorpio]

I carry debt (credit card) purposely. I never have a balance no more than 25% of my total allowed credit. Here are some of the cards I have:

-Delta Reserve American Express (Use this mostly for traveling)
-American Airlines Advantage MasterCard (Use this for most purchases)
-American Express Platinum (Use this for BIG purchases or whenever I need their concierge service)
-American Express Platinum Business (Company credit card which I use for work expenses)
-Bloomingdale's
-Best Buy
-Macy's

No car payments, mortgage or student loans.

Credit score of 815 FTW

 

[peter80warrick]

I carry debt (credit card) purposely. I never have a balance no more than 25% of my total allowed credit. Here are some of the cards I have:

-Delta Reserve American Express (Use this mostly for traveling)
-American Airlines Advantage MasterCard (Use this for most purchases)
-American Express Platinum (Use this for BIG purchases or whenever I need their concierge service)
-American Express Platinum Business (Company credit card which I use for work expenses)
-Bloomingdale's
-Best Buy
-Macy's

No car payments, mortgage or student loans.

Credit score of 815 FTW

How much in annual fees do you play for the Amex's?