How much debt do you have including mortgage etc..
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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.1 -
Motorsheen wrote: »
Truth1 -
Single income and I have a 4 year old girl (I don't get spousal support or child support). I make decent money and able to put away money every month.
I rent a nicely little apartment and I have a car payment, one credit card payment. But I also have daycare costs, which is almost as much as my rent.
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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.4 -
I'll play. We owe about $145K of our $185K home loan. We have a new car and a new boat that we owe roughly $50K on. We have no credit card debt. We worked our butts off following Dave Ramsey and got rid of a ton of credit card debt quickly. We currently put 10% in 401K's and $500 in savings each month. Our current emergency fund is at $5K and climbing. I'm sure some would ask. Why did you do Dave Ramsey then buy a new car and a boat?
Well it's simple. We could afford it with zero stress or worry about making the payment. My husband and I received good raises this year which freed up our budget considerably. We honestly live below our means because it really keeps the stress away. We have a modest house on good incomes. We are planning for retirement. We have a ton of equity in our house because we remodeled our house by paying cash. That part has been tough because our home was super outdated and I love to decorate. If one of us lost our job tomorrow or ended up sick, we wouldn't lose everything we own. I will say that we will NEVER EVER have credit card debt again. In paying off our cards, Dave Ramsey saved my marriage. The interest alone will absolutely destroy any chances you have of getting out of the hole if you let it. Credit card debt free for 3 years and counting. We are obviously blessed with good jobs so every situation is different.6 -
OP are you a Loan Shark by anychance?
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Financially, none. But what I owe through being helped-out by my housemate, quite a lot.1
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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....8 -
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.4 -
mattig89ch 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 soon11 -
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?6 -
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mattig89ch 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.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.2 -
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.1
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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 that1 -
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.
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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 😁1 -
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.
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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 $39.2
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