Debt Free?

[Mark Antony]

No but I'm close. 2 collection accounts, less than a years worth of car payments and ~10K in student loans which should all be murked by summer 2014.

 

[eiddyfouw]

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.

I'm going to make the move now that you mention it.

It makes a lot of sense.

 

[Hank Scorpio]

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

Delta Reserve Amex- $450/year
Amex Platinum- $450/year

I don't pay for the Amex Platinum Business card. It was issued to me by my company.

 

[hugheyfreeman]

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

Holy moly. I have no credit at the age of 19 , family was not very big on financial responsibility. Woukdnt know the first thing about credit

 

[you go boy]

im almost there... i will be paying off my car next month which has 10gs left and my student loan which has 33gs on it... im like 2gs shy off paying my student loans off and my credit card isn't that bad i can pay it off now but its not my priority...its really a goal of mines to be debt free by next year so i can finally move out the cribb and get my own place... i dont make enough to have these 2 expenses every month so its important to pay it off asap

 

[antidope]

I'm losing . Student loans are all that I have but we all know student loans arent a joke.

 

[superb]

http://www.youneedabudget.com/

 

[buggz05]

No car note, no mortgage, no student loans, no credit cards or credit history whatsoever.

I do have unpaid tickets, a few delinquent utility bills, and an expensive hunger for life and success.

Banks hate me.

 

[al audi]

No credit history can actually hurt you.

Credit can aid in success.

 

[jbpkickz]

No debt but no credit either

 

[onedollarballah23]

11 more payments on my car and I'm DEBT FREE!!

done paying off all my CC's

I'm only using my American Express card and pay it all off every month!!

 

[jdubb1914]

I have debt unfortunately a lot of it. I am working to pay it off. Check my progress here.

 

[heliumclinton]

I have a $500 cable bill in collections that's it, I need to build my credit though.

 

[D StaXX]

Great thread op. Just graduated so I'm getting all my finances in order. I've brought my credit score up about 100 points in 2 months. Credit Karma FTW.

 

[superb]

Guess these days a car note or mortage is hardly debt.

 

[peter80warrick]

i disagree on a car note because a car is a depreciating asset and some of the car loans are 72/83 months, by the time you pay it off you are going to want another new car so you are then stuck in the car payment cycle for the rest of your life.

Only debt i see that is good is mortgage debt and studet loan debt. For student loan debt you need to ensure you are getting a degree that will help you in paying them back. You have no reason to go to an out of state private school just to get a general degree. Also once you have a student loan debt and have completed college you need to put a plan in place to pay it off.

As they say a goal without a plan is just a dream.

Also, I have no real concern about my credit score because I see no future use for credit. I wont get a car unless i can pay cash for it and my next home i plan to buy will be cash as well or at least a 50% down payment.

 

[dathbgboy]

Far from it. But I've heard about Dave Ramsey's Financial Peace University. The church I attend offers the class every cycle and I could never afford the fee ($50) and didn't have the time due to my job

As far as my credit, it's shot. I have negative assets on it but nothing helping me build it back. Starting a new gig soon so I'll be able to save up the $500 for a secured credit card through my credit union.

 

[rocksfan25]

Just making payments on my truck. It's not bad, I could pay it off but need to save and don't want to affect my credit.

I wish I had a mortgage, Vancouver is very expensive so we are still renting. I'm the sole provider for my wife and daughter, I make good money but it is hard to save at a decent rate without two incomes. It also doesn't help that my wife is used to being broke and loves to spend money, even when we budget (aka waste our time). Don't know when we'll get out of this, feels bad...

 

[superb]

if anyone have bad credit thee lots of credit repair companies that work. One I used is skybluecredit.com

 

[dathbgboy]

if anyone have bad credit thee lots of credit repair companies that work. One I used is skybluecredit.com

I'm trying to get out of debt, so I should add another expense to get out of debt? Nah, I'm good off that brosef

 

[crcballer55]

Far from it. But I've heard about Dave Ramsey's Financial Peace University. The church I attend offers the class every cycle and I could never afford the fee ($50) and didn't have the time due to my job

As far as my credit, it's shot. I have negative assets on it but nothing helping me build it back. Starting a new gig soon so I'll be able to save up the $500 for a secured credit card through my credit union.

There is also a take home course too. IMO, the $100 for the course will be some of the best money you can spend. I tell people you'll make at least that amount of money back for each lesson in the class if not exponentially more by following the plan.

 

[dathbgboy]

Far from it. But I've heard about Dave Ramsey's Financial Peace University. The church I attend offers the class every cycle and I could never afford the fee ($50) and didn't have the time due to my job


As far as my credit, it's shot. I have negative assets on it but nothing helping me build it back. Starting a new gig soon so I'll be able to save up the $500 for a secured credit card through my credit union.

There is also a take home course too. IMO, the $100 for the course will be some of the best money you can spend. I tell people you'll make at least that amount of money back for each lesson in the class if not exponentially more by following the plan.

Didn't know about a take home course. That's right up my alley, since me and wife's schedules are all out of whack w/ one another. I'll be makin a little more w/ my new job so I should be able to afford that. Small price to pay to build wealth that I can pass on to my daughter when the time comes.

 

[c hanna]

i have 42k in debt from undergrad and thats before all the debt im gonna go into for med school
gonna be in debt till 40+

 

[superb]

I'm trying to get out of debt, so I should add another expense to get out of debt? Nah, I'm good off that brosef

Your not making sense

$50 they will remove and correct negative information off your credit report. I got a judgement removed off mine and my score jumped 120 points. That alone was worth gold

 

[kn0wledgeable]

Gotta pay off my cards and car.