How much debt do you have including mortgage etc..
Phoenixsunflr
Posts: 78 Member
in Chit-Chat
And what’s your monthly spending on bills food and other essentials?
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Replies
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Zero debt. No cards, no car payments. Own my house. I'm nowhere near retirement age, probably 20+ years away.
Dave Ramsey might be annoying, but it works.
Monthly spending is pretty much whatever I want. I save large amounts toward retirement and have a bunch left over for discretionary spending. Family of six.30 -
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100% debt free here. I own 100% of what I have. But then so do most homeless individuals... so it isn’t saying much6
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What is the motivation behind this question?6
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LiftingSpirits wrote: »What is the motivation behind this question?
Im just curious to see what everyone’s situation is. How they did it. Tips they have etc0 -
rfitnessmfplulz wrote: »Zero debt. No cards, no car payments. Own my house. I'm nowhere near retirement age, probably 20+ years away.
Dave Ramsey might be annoying, but it works.
Monthly spending is pretty much whatever I want. I save large amounts toward retirement and have a bunch left over for discretionary spending. Family of six.
That is amazing!
Can I ask how much your house was..
How long did it take for you to pay it off? And what’s your household income?
And how old are u? U seem like ur doing really well!! Please share
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No debt. I've paid off two houses now. Eligible to retire 7 months ago but I plan to keep going for a few more years.
The secret is not to go into debt for anything but the big items like education and house. Buy secondhand cars, pau cash. Don't buy as much house as the bank is willing to lend you money for.
My monthly budget won't help you as I'm a household of one and live in a different country.5 -
I’ll be surprised if people with debt answer this.
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I have just worked out that at the current rate I can afford to retire, debt free, by the current official retirement age... of my great-great-grandchildren (if anyone makes it that far).6
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Y’know what? Part of getting out of debt is looking at it squarely and dealing with the shame so
My house is paid for because I believed, STILL believe, debt is a kind of trap- indentured servitude from which it is difficult to escape.
But I *kitten* up. I didn’t have an adequate emergency fund and when *kitten* happened I resorted to using credit.
The snowball method won’t work for me because it is only a single creditor.
I’m not comfortable sharing the amount, but there is an eradication plan in effect. I should be done, if I don’t die first, in two years.15 -
Two years ago i had no personal debt other than $30k left on my mortgage. It was going to be paid off July of 2019.
Now we have around $100k in vehicle debt and $484k in a mortgage, so thats neat
Payments are $3k on the house and $2500ish on the vehicles.
Not sure what we spend on other bills, I’d have to look it up. Our family living spending has been astronomical this year so far. Something like $75k, not including payments toward loans.10 -
We have 97k left on our house and 5k left on our camper but that’s it. No credit cards or car payments. We live carefully within our means. Probably spend $900 mortgage, $200 electric, $110 camper payment, $400-$600 a month on groceries. There’s 3 of us.1
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your_future_ex_wife wrote: »I’ll be surprised if people with debt answer this.
I will.... you can’t see me, but I’m waving my hand just below my chin to indicate that I am up to my neck in debt.12 -
between mortgage and student loans (the size of a small mortage) - too much debt. i'm working on paying it down, but its slow going4
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Student loans and mortgage is all that is left now. 10yrs left on the house and I figure the student loans will be paid off sometime around age 73 or 74. Student loan debt is almost 3 times the amount of the balance on our mortgage. No car payments in 15+ yrs and no credit card debt. Our daughter gets married next June; the wedding is almost completely paid for already. Will we retire at 65? Probably not, but we live well. Our monthly budget? There is plenty leftover after the bills are paid.4
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I’m grateful for all of you sharing right now. I was beginning to feel alone out here. I’m going to deal with this *kitten* the same way I dealt with being overweight. Track everything. Be consistent. Be realistic14
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