How much debt do you have?

34.2 months. Roughly. Why are you wondering this?

So you make a lot of money or have no debt..

Pure curiosity

Either/or…guess which ;)

I’m going to guess very little debt

Why would you advertise how much you make and owe? My wife and my accountant are the only ones that have these numbers, and I believe it is best to keep info like this to yourself.

I didn’t advertise how much I earn, the figures above are made up. I’m curious how long it would take to pay off your debt not how much you actually earn or actually owe as that is irrelevant to me as a lot of the people earn in different currencies.

2.5 years to pay off everything I own.

0. I have no credit cards and if I can’t pay for something in cash I don’t get it. Debt is a horrible stressful thing that I try really hard not to participate in.: )

Not even debt on cars or a mortgage? That’s impressive

You wound me…really….actually it’s a little of both…I make a fairly decent living, but my debt really isn’t astronomical by any means.

Nope, we bought our car outright and I rent (so,I have basic monthly bills like everyone else, just nothing owing.)

I bought a house in May - so if I keep paying the standard payment it will be done in a little less than 33 years :P.

Other than that not an ounce of dept to my name, and that is the first thing I have taken a loan on. Everything else has been cash upfront.

I have to agree with Patricia cartwright. Everything I do is done in cash. No credit cards. Only recently have I setup a checking account - I got tired of getting money orders to mail in payments on utilities and having to barrow my friends debit card to make purchases online. But my pickup was paid in cash, as was my first car. But then again I don’t feel i need a $12,000 vehicle. My $800 s10 does just fine. Only reason I have a mortgage is because I couldn’t figure out how to make enough to buy a house outright :P.

The only debt i have at the moment is a small loan note and unpaid speeding ticket. I’ll go by my fiances income since mine isnt a set income, with no bills or anything else to pay for it would take a week to pay off lol. We currently rent our home, have no credit cards, paid cash for both vehicles, so we’ve managed to have almost no debt so far.

Well once you get married, have kids, she will want a new car. I have not seen a $12K car.

That is nice, debt is bad.

I spent almost 17 years working a very high income cash job and as I suck with money, I figured out to never buy anything I couldn’t afford to buy straight out. If I keep all bills to a minimum to means less stress and more happiness. : )

Well we own a few companies and this is very hard to almost impossible to do, they have the saying it takes money to make money. Well it does, but we have now worked down around 50% of our debt in 2.5 years, half way there :)

I still live at home so I pay minimal rent and have no debt. I’m earning a lot as I work full time and another part time job, and I save a lot of my money. I live with my mother and my sister and we have no mortgage, we own our house, we own our car and everything else. We do have credit cards that we share and pay off as needed. I think we are quite lucky to be living like this.

cars*

So you own your home outright?

Sorry I did not read, your rent.

Well “she” will just have to live with whatever we can get with cash.

idk how long it will take me to pay off my debt completely seeing that im still in college, but as of right now im about 30 grand (USD) in the whole.

I carry no credit card debt (I regularly use a credit card for the points - I’ve gotten TONS of free groceries over the years, but generally what I charge when I’m shopping, I pay off when I get home that day). I do have a mortgage as I own my home (which I feel will provide me with some stability as it will be paid off long before I retire). I’ve actually increased my mortgage payments by $75/month over the last 6 months in order to pay it down even quicker.

As an interesting side note - on credit cards statements (in Canada anyway), the companies are now including an estimated repayment time is you only pay the minimum balance. For example Mastercard states that if you only pay the $10 min payment on a $250 (approx) bill it will take you 2 yrs and 7 mos to pay off. YIKES!!