The "I Have no Debt" thread

[PLYMCO_PILGRIM]

I'm curious as to how many of us here on the USMB dont have any debt whatsoever.

I paid my debts off years ago and refuse to go into debt for anything. I have an emergency savings and a retirement savings account.

Getting to the point where I had no debt was very difficult for me and involved years of sacrificing fun and spending on fun stuff.

What about you guys?

I put up a poll in case you dont want to state your situation publicly.

 

[strollingbones]

i dont owe for the house or vehicles....i carry about 6,500 in debt right now and want to get shed of that

 

[jillian]

zero debt except for car payments and car lease.

 

[Luissa]

I am paying off my car, and I owe college loans. I also owe about $3000 on a porch.

 

[Toro]

I'm going to refinance my mortgage. I took out a HELOC to partially fund a purchase property last year because rates were so cheap. I have a bit of credit card debt but I can pay it off whenever I want.

If the government is going to give me free money, I'm taking it.

 

[Natsumi]

I was lucky enough to have my grandparents by my side, as they paid for my college and my arrival to the U.S. I have about 5,200 in debt from the remaining balance to pay off my car..other than that..that's all I owe.

 

[topspin]

25000 on two cars 175000 on the house. Have that covered 5 fold with high quality stocks. In this shitty market I may sell and pay off the house.

 

[william the wie]

No debts since 1992.

 

[Baruch Menachem]

zero debt to go along with zero income

 

[Mr. H.]

Mortgages on the residence and an investment property but that's it for debt.
Of late I've been struggling to not give in to the temptation to buy a new car. Must... not....

 

[Skull Pilot]

No personal debt. I pay cash for my cars and toys.

I have mortgages on my income properties but the rents cover those with plenty to spare. Those mortgages will be paid off before I'm 60 then it's nearly all profit for retirement cash flow.

I plan on buying the 3 acre lot next to me and building a house but the rents on other properties will cover that mortgage as well.

 

[xotoxi]

Are medical school loans considered a business expense?

 

[Avatar4321]

Student loans. Law school was expensive. But Ive already got a plan to pay it all back quickly.

 

[fyrenza]

Holy MACKEREL!

(I'm sorry, but I've been drinking and smoking and it was HILARIOUS ~ )

I read the title as "The I Have No DICK Thread"!

 

[chanel]

We pay our credit cards bills in full every month. Always have.
We buy our cars for cash. Always have.
We send in extra principle on our mortgage each month. Always have.

I hope to be debt free when the boys finish college.

Congrats to you guys that have done it.

 

[Douger]

Student loans. Law school was expensive. But Ive already got a plan to pay it all back quickly.

Does it involve neck braces ?

 

[PLYMCO_PILGRIM]

Thanks for the responses and participating everyone.

If anyone needs tips/ideas/advice on budgeting to pay off their debts feel free to send me a private message.

 

[Care4all]

own the house and car outright, this is why I was able to retire young and only the hubby works....no credit card debt....have retirement funds that are unaccessible without penalty, my husband was unemployed for a year, so we ate in to nearly all of our accessible savings/emergency funds though and are trying to save up again for the next emergency.

 

[Avatar4321]

Student loans. Law school was expensive. But Ive already got a plan to pay it all back quickly.

Does it involve neck braces ?

Not for me I hope lol

 

[Toro]

Thanks for the responses and participating everyone.

If anyone needs tips/ideas/advice on budgeting to pay off their debts feel free to send me a private message.

Heck, you don't have to PM me. I'll just tell you.

Spend less than you make. Use the rest to pay down debt.

It's kind of like the secret to losing weight - eat less.