How much debt do you have including mortgage etc..

I’m also 23 years old. For those who are wondering. Yeah I have a lot of debt for my age because of the house but most of the people around me the same age, don’t have a serious job and still live with their parents so I’ll take my debt 🤷🏽‍♀️

I am 31, live alone. I have:

~$5,000 left to pay on my car
~$7,000 in credit card debt

I only use my credit card for travel. The rest of my monthly expenses come right out of my checking account.

Per month:

$150 - groceries
$900 - rent, trash, water, sewage
$40 - wifi
$90 - gas and electric
$60 - gas for car
$210 - car payment

I plan on buying a house in the next 6 months to a year, so I should enjoy my low debt while I can

rickiimarieee wrote: »

Just bought a new house so around 170k of debt. Paid some of my home with cash but had to get a mortgage for the rest!
My monthly spending varies.
Usually about 100 in gas
500-600 in groceries
200 for electric
300 for tv and internet
100-200 for water and sewage
40 every 3 months for trash.
About 200 in formula for my LO.
50-200 in diapers
And about 100-200 in prescription medication.
Mortgage is 1300 a month.

Your doing great! thats not debt.. it's living expenses

sammidelvecchio wrote: »

I am 31, live alone. I have:

~$5,000 left to pay on my car
~$7,000 in credit card debt

I only use my credit card for travel. The rest of my monthly expenses come right out of my checking account.

Per month:

$150 - groceries
$900 - rent, trash, water, sewage
$40 - wifi
$90 - gas and electric
$60 - gas for car
$210 - car payment

I plan on buying a house in the next 6 months to a year, so I should enjoy my low debt while I can

How do you live on this? I'm moving out of Connecticut

BasedGawd412 wrote: »

caco_ethes wrote: »

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 😁

When I previously owned my past homes, my waterbill was $40 to $50 a month with 4 people living there.

One month I turned off my water at the source and when rent was due I asked my landlord how much for water, he said $60 lol.

Mines also around 50-60 and we have a family of 4 here as well!

rickiimarieee wrote: »

Ketch_22 wrote: »

rickiimarieee wrote: »

Just bought a new house so around 170k of debt. Paid some of my home with cash but had to get a mortgage for the rest!
My monthly spending varies.
Usually about 100 in gas
500-600 in groceries
200 for electric
300 for tv and internet
100-200 for water and sewage
40 every 3 months for trash.
About 200 in formula for my LO.
50-200 in diapers
And about 100-200 in prescription medication.
Mortgage is 1300 a month.

Your doing great! thats not debt.. it's living expenses

Well my mortgage is debt lol but yes the rest is monthly living expenses! Thanks!! 😀

Mortgage is considered "good" debt because you can liquidate and pay off at any time; it appreciates; you get tax breaks; and you can utilize the equity in the home for other uses. Good job at such a young age buying!

I live in Cali and am hesitant to post answers.

Let me just say that cost of living here is sky high, but thankfully wages are also high. I feel I would do better moving to a state with no state income tax.

rickiimarieee wrote: »

Just bought a new house so around 170k of debt. Paid some of my home with cash but had to get a mortgage for the rest!
My monthly spending varies.
Usually about 100 in gas
500-600 in groceries
200 for electric
300 for tv and internet
100-200 for water and sewage
40 every 3 months for trash.
About 200 in formula for my LO.
50-200 in diapers
And about 100-200 in prescription medication.
Mortgage is 1300 a month.

Wish I lived where do that a new house incurred that much debt. I need to move

@Danw586 I live in a 1 bedroom apartment in a nice suburb of Cincinnati (about 15-20 minutes north of downtown). My apartment is about 1000 square feet, nice but nothing extravagant. I put a big down payment on my car, so that kept my monthly payment low. I hardly ever eat out, maybe once a week, but I mostly cook my own food. I buy a lot of frozen stuff and eggs, splurge on fresh fruit! I don't have cable. I keep my heat low in the winter, probably around 63-65 degrees, and use my fireplace a lot. I lived for 29 years without central AC, so now that I have it I honestly don't use it a lot so that keeps my electric bill low. I fill up my gas tank about every 2 weeks, and a full tank is $30 depending on the current price of gas.

My mortgage payment is lower than most new car payments.
I never had student debt and don't have car payments.

I get airline miles on a credit card that I use for household spending. I pay that card in full each month.

I use the miles to pay for hotels when we go play.

I got pushed into early retirement last year. I use my IRA to make my living with buying and selling stock options each week. It's working pretty well.

I figure if too many people learn how easy it is to make a decent income with their saved cash, there will soon be no-one left to work for the man.

Only 2 sources of debt: #1 is mortgage ($200k+ left...after 14 years and sizeable down payment); we live about an hour outside of DC. COL is pretty high. I think $12kish on the one car loan (0% interest loan, so no rush to pay that off ahead of schedule). Generally, I pay credit cards in full monthly. I only use those for gas and major purchases.

I don't know exact monthly expediture; my goal is $1500 in savings per month (sometimes I hit the target...sometimes more, sometimes less).

I'm trying to get a head start on kids' college $. My husband and I (both have BS and Masters) had zero student loans...I'd like to make that happen for my kids.

nooshi713 wrote: »

I feel I would do better moving to a state with no state income tax.

Same here.

I'm turning in applications, but I've not heard anything back yet.

AliNouveau wrote: »

rickiimarieee wrote: »

Just bought a new house so around 170k of debt. Paid some of my home with cash but had to get a mortgage for the rest!
My monthly spending varies.
Usually about 100 in gas
500-600 in groceries
200 for electric
300 for tv and internet
100-200 for water and sewage
40 every 3 months for trash.
About 200 in formula for my LO.
50-200 in diapers
And about 100-200 in prescription medication.
Mortgage is 1300 a month.

Wish I lived where do that a new house incurred that much debt. I need to move

Whatcha mean? I’m not quite understanding the way this sentence was worded

AliNouveau wrote: »

rickiimarieee wrote: »

Just bought a new house so around 170k of debt. Paid some of my home with cash but had to get a mortgage for the rest!
My monthly spending varies.
Usually about 100 in gas
500-600 in groceries
200 for electric
300 for tv and internet
100-200 for water and sewage
40 every 3 months for trash.
About 200 in formula for my LO.
50-200 in diapers
And about 100-200 in prescription medication.
Mortgage is 1300 a month.

Wish I lived where do that a new house incurred that much debt. I need to move

Yes, its scary and crazy overwhelming to me the housing costs in our general area. I rent and live in fear of the skyrocketing prices here, and the idea that my landlords may jack the price because the demand and affluence is so high.

If you own a property in our general area, its a gold mine.