Type of debt

[wdwfan16]

Poll to follow.

 

[blanq]

We have two: mortgage and vehicle payment. Until a few months ago, we just had our mortgage, but in November we bought a new vehicle. We put a good chunk of change down on it (10K), but we still have a loan.

 

[singnring]

100% Debt-free.

Mortgage (last remaining debt) paid off on July 3, 2009 - our Independence Day!!

 

[blanq]

100% Debt-free.

Mortgage (last remaining debt) paid off on July 3, 2009 - our Independence Day!!

Congratulations! That is a huge accomplishment!

 

[singnring]

Congratulations! That is a huge accomplishment!

Thanks!!

 

[jennyf2]

I just made my last car payment yesterday I paid off 1 of my CC's last month I have another credit card with a balance of approx $500 & of course my never ending mortgage (just purchased in 2008--still a LONG LONG LONG way to go).

 

[erin.w]

For now I have DVC, student loan and car payment. Until I move in with my fiance in the spring, then I will have a mortgage as well. My only card with a balance is my Jetblue card that I purchased tickets on for our upcoming trip last week, but that will be paid off within the month.

 

[tileman]

Just truck & house.

 

[DL55]

Just our mortgage for 8 more years.

 

[DawnM]

Mortgage only. Unfortunately, we are in it for the long haul too unless we can sell and downsize.

 

[dtr_angel]

I know car payments & mortgages are considered debt, but I don't consider them the same way as I do student loans & credit card debt.

My husband has student loans and it drives me crazy, but nothing I can do about that. Luckily they are still in deferment, and we're in the process of trying to consolidate to save on interest. I paid time to the military so I'd never have student loans because I hate owing money to someone. We have about $1100 on a credit card, but it is interest free and my goal is to pay it off by this summer (it normally would've been paid off, but I'm not working as much as I used to)

 

[dtr_angel]

I just made my last car payment yesterday I paid off 1 of my CC's last month I have another credit card with a balance of approx $500 & of course my never ending mortgage (just purchased in 2008--still a LONG LONG LONG way to go).

we just bought our home in 1/2009 so we have a long way to go!! I'm not worried about it though, I know that payment isn't going anywhere for at least 28 more years

 

[luvdisney00]

We have a mortgage and a car loan, but the car loan will be done in Oct. We also have $199/mo pmt on my daughter's braces, but the ortho gives 0% financing for 2 yrs so I took it. I have the money for them in an account that's earning interest so why not. My husband just bought a used car for cash which was great (no Payments) but took a dent out of savings. Working on rebuilding savings now.

 

[Inkmahm]

No debt. My goal was to pay off my mortgage before Y2K (2000) and I did. I paid my 30 years loan in 12 years.

 

[Good Morning Dewdrop]

Just the mortgage - it's almost 1/2 paid off but still a long way to go!

 

[ssawka]

I know car payments & mortgages are considered debt, but I don't consider them the same way as I do student loans & credit card debt.

My husband has student loans and it drives me crazy, but nothing I can do about that. Luckily they are still in deferment, and we're in the process of trying to consolidate to save on interest. I paid time to the military so I'd never have student loans because I hate owing money to someone. We have about $1100 on a credit card, but it is interest free and my goal is to pay it off by this summer (it normally would've been paid off, but I'm not working as much as I used to)

I find it interesting that you seem to have negative feelings towards student loans, IMHO student loans and mortgages are the most justifiable debt. At least with student loans, you usually have a true Return On Investment (ROI) in the way of higher salaries. Now it is great that you served in the Military (I applaud you for that!) and did not have to take out student loans, but that is not an option that is open to everyone.

 

[TifffanyD]

Just one car loan. But I feel like I'm cheating... because we rent so we don't have a mortgage.

But last year we paid off my car (over 10k), a loan (5+k) and had a loan forgiven (DH owed his parents for school from before we were married).

We also paid cash for our wedding, honeymoon, and DVC and are now working on saving for a house... but we don't plan to buy for a few years so that we can put a big payment down and have a mortgage (and taxes and insurance) that is less than what we pay now for rent).

 

[antmaril]

I have a car payment (a lease). I have no other debt.

 

[Swimalie]

Just a mortgage. We bought in 2006 so we will have the mortgage for a while or until the house gains the $150,000 in value it has lost since we bought it and we can move to another area and buy a house out right. This time next year we will be buying a brand new car and paying cash for it.

 

[4luv2cdisney]

We have a mortgage and a car loan, but the car loan will be done in Oct. We also have $199/mo pmt on my daughter's braces, but the ortho gives 0% financing for 2 yrs so I took it. I have the money for them in an account that's earning interest so why not. My husband just bought a used car for cash which was great (no Payments) but took a dent out of savings. Working on rebuilding savings now.

I was wondering if other people considered this debt or not! We do this all the time...save $ for something, get 0% financing for it, keep the $ in the bank to pay it off. We usually try not to actually use the $ we set aside for it though. We try to pay for it out of our normal budget if we can. Then that $ either becomes total "fun money" or long term savings.