How much TOTAL debt do you have?

[crisi]

It's an anonymous poll - so please be honest. I just sat down and added up our TOTAL debt, mortgages, credit cards, cars, everything. It's a totally sobering amount!! I've been wanting to get the credit cards paid off - but geez, the total amount is mind boggling!! Makes me want to crawl into a hole!!

Remember when comparing yourself to others, different people are in different situations. We have no debt, but we have a large income, the lifestyle (pretty much) we had with a much smaller income, we've had the advantage of inheritence and stock options to pay off our mortgage and cars, we are in our 40s, had our kids late - and they aren't in college yet so there are no college loans (and hopefully won't be), we've had the advantage of being healthy.

 

[GoofItUp]

DH and I owe less than $12k on our house and that is our ONLY debt!

ETA: We are 32 & 31 and have had no inheritance or financial windfalls. We both were blessed with good jobs. And, we tried to be very responsible with our $$ while we were both working which has allowed me to be a SAHM for almost 2 years now!

 

[nunzia]

I answered but 90% of the debt is my house.

Same here

 

[shortbun]

Except for our mortgage we're debt free. We own more than half our house too. Hmmm, must be time to buy something, lol!

 

[sk!mom]

I started wondering if some of the low to nothing debts could be renters. I had not thought about that.

No, Dh and I are not renters but we only have about $12K left on our house and then we will be debt free. We are on track to pay this house off in 12 years.

When we started our plan to live debt free, we had student loan debt, consumer debt, car loans, and a house. It is possible to pay it off though and live debt free. We've been down to only the mortgage for several years now and I have to say, it is very freeing.

 

[Nie0214]

Right now I only have student loan debt ~$18k or so if you factor in interest over 10 years. My car is my mother's old car and paid off (I hope to be getting a new car in 2 years).

$0 balance on my credit card, and I rent an apartment.

 

[Kate and Pete]

We have a mortgage (about 98k left on it), a car (with about 12k) and a student loan (12K). That's it! We're CC debt free (never had debt because of a CC - thank goodness!). We'll pay off the car and drive it until it dies. We're not looking to pay off the house, and we want to be in a new house in a few years....so, we're doing just fine!

 

[Chicago526]

Mortgage, cc's, truck loan, under $175k. The truck and cc's will be gone in about two years, then we'll really be sittin' pretty!

 

[hopemax]

We have nothing, but we don't own our own home yet. We are saving for one. Ask again next year, and the answer will hopefully be different.

Never had student loans, and the car got paid off in May.

 

[Piecey]

I started wondering if some of the low to nothing debts could be renters. I had not thought about that. Stay in the practice of paying off those credit cards each month, and you'll be great.

I put us in the >50k category. Our only debt is student loans and one car (which is only 6k). We're still in school, though... but have got preapproval papers to go get ourselves into some more debt. Yay.

 

[TheBigBadWolf]

We were debt free for over ten years, after paying off our land (12 acres) and home. We have never carried any credit card debt or school loans, and we try to pay cash when we buy new cars/trucks. But, we bought a new home on five acres two years, ago and that mortgage is our only debt now. We have enough assets to pay off the mortgage if need be. We kept our old home/land as rental property but may sell it when the RE market improves. I love the security of being debt free and can't wait to pay off the mortgage on our new home.

 

[spima3]

Big jump from nothing to under $50K.
I picked the under $50K, but we actualy only have $9K on a HEL.
No other debts. We're in our mid 40's, with 3 kids, and I'm a SAHM, so we live on DH's income, which is very modest.
Our kids are all under 13 yrs old and if they go to college, they will be responsible for the bulk of the payments. We will not go into debt to fund their educations.
They are all excellent students, and DD13 is a terrific athlete, so I'm hoping they can get scholarships to help them out. Just hope that they will still be available by the time they get there!

 

[emh1129]

We also rent right now. Other than that, I have some student loans (around 5k) but those are deferred until I finish school.

 

[tonilea]

We have no debt and own our own (very modest) home.

 

[scribega]

Here is your "OMG, no way" post:

House - 123,000
Student Loans - 75,000
Cars - 24,000
Credit Cards - 65,000

Total: 287,000
Minus house debt: 164,000

Needless to say - major debt. I want go into how it happened, but we are working on fixing it.
About 6 months ago we started making some major changes. We sold our old home and moved into a smaller townhome to save some money. We just traded in one car that dropped our payment. We spend about $1100 a month on CC payments, but we are slowly chipping away at that.

Are we going to Disney this year? Yep, in October. We have been really good about paying for the trip with cash. We already have $600 put away for trip that will cover food and misc.

 

[LorieR]

We owe nothing. We have a modest home and our kids are out of college.

 

[jeankeri]

Well, I'm in with the majority. House and car are both half way towards being paid off, plus some cc debt. Even with the cc paid off I would still be in the same bracket. Would love to see a poll with total savings...

 

[Karenj2]

Our only debt is our house, plus DH's car (mine will be paid off next month). I chose less than 400k, because I think we're JUST over the 300k mark. No CC debt.

 

[marcyinPA]

I also answered, but our only debt is one car and our mortgage. Under 100K~ yeah!

 

[*pixie*dust*]

I currently only owe on my home. No CC debt, student loans or car loans. (Although a car loan may be in my future in the next year or so. )