How much debt do you have including mortgage etc..

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Replies

  • LyndaBSS
    LyndaBSS Posts: 6,964 Member
    Phoenixsunflr wrote: »
    And what’s your monthly spending on bills food and other essentials?

    I could tell you but then I'd have to kill you.
  • CoffeeAndContour
    CoffeeAndContour Posts: 1,466 Member
    Well I’m paying off 8 years of University, and I just bought my house less than a year ago, so my answer is a lot.

    But I live within my means and make debt my first priority outside of regular monthly expenses.
  • hesn92
    hesn92 Posts: 5,966 Member
    edited July 2019
    Interesting question lol. I owe about $100k on my house, no other debt besides credit cards which I use for everything and pay off every month to get points. So I don't consider that to be real debt lol. I don't care to pay my mortgage off early. I was very fortunate in that most of my college was paid for with grants and my grandpa. I only had a small loan that is paid off now. My car is pretty old and has over 200k miles, so I live a pretty mediocre lifestyle. I don't really want to share what our monthly spending is though, that seems a little personal. We have soon to be 3 kids so it's a lot more than I would like it to be.
  • slessofme
    slessofme Posts: 7,740 Member
    edited July 2019
    I have a mortgage that is well below my means. I have 2 paid for vehicles, one is a hoopdy that I provide for my teen to drive. No consumer debt and aside from a month or two earlier this year while waiting for reimbursement from work for travel expenses, I haven't carried a credit card balance in over 10 years. I am also a Dave Ramsey person, not because of the religious aspect, because not using debt fits within my risk tolerance.
  • xGreatWhiteNorthx
    xGreatWhiteNorthx Posts: 335 Member
    edited July 2019
    29 years old
    Single income family (but 2 adults)
    One 6 year old child
    93k mortgage
    17k car
    7k line of credit from recent home and car repairs I couldnt cash flow due to being on medical leave. Quickly paying it down.

    No credit cards.
    No student loans.

    450/mo on groceries including dog food for a Lg and XL breed puppy.
    250/mo on gas
    120/mo for hydro
    100/mo "blow" money

    700/month for sinking funds such as home and car maintenance, gifts, clothing,christmas, vet Bill's etc
  • corinasue1143
    corinasue1143 Posts: 7,464 Member
    House and car paid.
    Gas, electric, water=about 200/mo. Phone, internet = 100. No cable by choice. Car gas, food, clothing =all on one credit card, paid each month = 4-500/ mo except Christmas=8-1000, pocket money=300/mo. Annual bills=car insurance, house insurance, house taxes, etc = 4000/yr.
    Gym membership=$10/mo.
  • corinasue1143
    corinasue1143 Posts: 7,464 Member
    Motorsheen wrote: »
    source.gif

    Truth
  • mattig89ch
    mattig89ch Posts: 2,648 Member
    I have more in debt, then I do years on this earth. Though not by much.

    I live with my parents, have a single car, and I live in the 3rd most expensive place in the continental USA. I don't even have a large enough nest-egg, to live on if I lost my job tomorrow. NY sucks folks, plain and simple.
  • kevinflemming1982
    kevinflemming1982 Posts: 158 Member
    Financially, none. But what I owe through being helped-out by my housemate, quite a lot.
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  • mattig89ch
    mattig89ch Posts: 2,648 Member
    bojack5 wrote: »
    mattig89ch wrote: »
    I have more in debt, then I do years on this earth. Though not by much.

    I live with my parents, have a single car, and I live in the 3rd most expensive place in the continental USA. I don't even have a large enough nest-egg, to live on if I lost my job tomorrow. NY sucks folks, plain and simple.

    I do agree NY is a crazy expensive to live.....but its also a place that pays crazy good too....

    not in my experience.
  • mattig89ch
    mattig89ch Posts: 2,648 Member
    edited July 2019
    bojack5 wrote: »
    mattig89ch wrote: »
    bojack5 wrote: »
    mattig89ch wrote: »
    I have more in debt, then I do years on this earth. Though not by much.

    I live with my parents, have a single car, and I live in the 3rd most expensive place in the continental USA. I don't even have a large enough nest-egg, to live on if I lost my job tomorrow. NY sucks folks, plain and simple.

    I do agree NY is a crazy expensive to live.....but its also a place that pays crazy good too....

    not in my experience.

    Fair enough.....i have no idea what you do for work, and everyone has a different experience. However, i will say the construction trades, especially the unions pay incredibly well, i have a few friends in the FDNY that all make 6 figures, i train a few teachers that make great salaries, and my own experience has been one of being able to move out of the projects in the Bronx and become a fairly successful businessman. I believe im quite a bit older than you and i didnt find my financial groove until my 30's.......so im hoping that you find that groove as well someday soon :)

    I work in IT. There's such a huge pool of trained professionals here, they can pay pennies on the dollar for us. Though I will say, my dads in the union for cabinet makers. We can barely afford to keep the roof over our heads.
    mike_rom wrote: »
    I'm surprised anybody is on here actually answering :laugh: especially those who actually have a lot of debt.

    I don't have debt other than my mortgage, but shouldn't some things stay personal?

    They key is to be vauge. Notice my answer didn't actually give any numbers.
  • cwolfman13
    cwolfman13 Posts: 41,865 Member
    mortgage and a small car payment. IMO, a mortgage is entirely worth it as you are acquiring an asset that will appreciate. The car is a necessity...I spend a lot of time in my car driving around 20,000 miles per year...need something both reliable and comfortable and enjoyable to drive. We use our CC for just about everything, but we pay it off every month...no CC debt.
  • Ketch_22
    Ketch_22 Posts: 12,711 Member
    edited July 2019
    mattig89ch wrote: »
    I have more in debt, then I do years on this earth. Though not by much.

    I live with my parents, have a single car, and I live in the 3rd most expensive place in the continental USA. I don't even have a large enough nest-egg, to live on if I lost my job tomorrow. NY sucks folks, plain and simple.

    What do you do? if I can ask that, oops I just read your answer. I too was in IT in NYC (lived in NJ). IT is def vague. A person could be a print room jockey and still be "in IT". NY is one of the highest paid for IT. NJ has even higher property tax than NY so I left. Retired at 30 and living the dream in Maryland ;) house prices on my street are 600k so theres that
  • BasedGawd412
    BasedGawd412 Posts: 346 Member
    edited July 2019
    Debt
    Chase credit card $8000
    2015 Kia Forte $9500
    2012 Kia Sorento $9500

    I got my credit rating from a score of 600 something to 755. I did have zero credit card debt at the beginning of the year but I took a vacation and work slowed down immensely right after.


    Rent $550
    Electric $35 a month
    Gas $30 a month
    Water $50 a month (my landlord gets the bill, I'm sure he is cheating me)
    2015 Kia forte that's totaled $415 a month, 3 years left
    2012 Kia Sorento $223 a month, 4 years left
    Car Insurance $180
    Monthly subscriptions $200 a month
    Gas for vehicle $200 to $300 a month
    Food $400 to $600 a month

    I live in Pittsburgh Pennsylvania which is cheap to live plus I travel for a living so I'm hardly home which is why my utilities are low.

    I did buy two houses before, first one was 37,500 and second was 39,000. Each 3 bedrooms 2 bath and werent even fixer uppers.

  • caco_ethes
    caco_ethes Posts: 11,962 Member
    BasedGawd412 wrote: »
    Rent $550
    Electric $35 a month
    Gas $30 a month
    Water $50 a month (my landlord gets the bill, I'm sure he is cheating me)
    2015 Kia forte that's totaled $415 a month, 3 years left
    2012 Kia Sorento $223 a month, 4 years left
    Gas for vehicle $200 to $300 a month
    Food $400 to $600 a month

    I live in Pittsburgh Pennsylvania which is cheap to live plus I travel for a living so I'm hardly home which is why my utilities are low.

    I did buy two houses before, first one was 37,500 and second was 39,000. Each 3 bedrooms 2 bath and werent even fixer uppers.

    Our water bill has a base fee of $27 and is $4/1000 gals after that. If yours is similar then $50 might not be unrealistic

    Unless you travel all month 😁
  • CSARdiver
    CSARdiver Posts: 6,252 Member
    I have ~80k left on the mortgage and will have this paid off in <2 years by our current plan. This remaining debt is intentional as shifting investments would not be wise. There is definitely something to being in debt that affects one's mindset and reinforces the slave/owner mentality.

    Had no student loans personally and we paid off my wife's loan two years ago. I discovered Dave Ramsey a few years back, bought his book, his daughter's book, and have been teaching these principles to our kids. I'm in the process of becoming an adviser and opening up a pro bono service.

    I just finished Chris Hogan's book "Everyday Millionaires" which is an amazing resource on how wealth is an output on behavior. This really puts many of the myths to bed on what wealth is and how to gain it. So many of these principles can be applied to weight management or any other process.

  • seltzermint555
    seltzermint555 Posts: 10,740 Member
    BasedGawd412 wrote: »
    Debt
    Chase credit card $8000
    2015 Kia Forte $9500
    2012 Kia Sorento $9500

    I got my credit rating from a score of 600 something to 755. I did have zero credit card debt at the beginning of the year but I took a vacation and work slowed down immensely right after.


    Rent $550
    Electric $35 a month
    Gas $30 a month
    Water $50 a month (my landlord gets the bill, I'm sure he is cheating me)
    2015 Kia forte that's totaled $415 a month, 3 years left
    2012 Kia Sorento $223 a month, 4 years left
    Car Insurance $180
    Monthly subscriptions $200 a month
    Gas for vehicle $200 to $300 a month
    Food $400 to $600 a month

    I live in Pittsburgh Pennsylvania which is cheap to live plus I travel for a living so I'm hardly home which is why my utilities are low.

    I did buy two houses before, first one was 37,500 and second was 39,000. Each 3 bedrooms 2 bath and werent even fixer uppers.

    Dang...I'm in a smallish Missouri city that people say has one of the lowest COL in the US, and still you have me beat. Hard to find rent of $550 for even a one bedroom apartment, or a house under $50k that is liveable, and my small home is full electric but that's $125/month. Your $50 water sounds about right to me too, ours is $39.

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