[snejk]

Quote:

Originally Posted by neFilim242 /img/forum/go_quote.gif Oh thanks dude. I'm glad you got the reference. I've always wanted to see "Hardware" but haven't had the chance yet.

Aah... thats the name yes. Heh - it's not very good though, but there are three cool dudes in it at least: Carl, Lemmy and Iggy Pop if I dont remember wrong. About 15 years ago I was as much into Carl McCoy you could be without turning gay

Gotta put on a Fields of the Nephilim cd now!

 

[error401]

Just paid off my car and pay off my credit cards every month, so I'm debt free. Of course, I'm young and don't have any significant assets either, but at least my bank accounts are deep in the black, and I intend to keep things that way until I'm ready to buy a house. With the real-estate market the way it is here right now it'll probably be a long time before that happens.

 

[snejk]

Back on topic. I don't see the problem with debt. It's just a way to match the needs in your life with the money (capital) needed, on a more extended time scale. When you're 20 to 30 there is no way to match your income and saved capital with the spending you need to be able to have a decent life (house, car etc). Presuming you don't have rich parents...

As long as you don't overstretch...

 

[RedLeader]

Just a bit of student debt here, nothing I won't be able to take care of shortly after I'm done.

 

[Roam]

Everything paid for, retirement secure, not quite megabucks yet though I should be there in a couple years thanks to peak oil.

 

[VicAjax]

i'm a bit confused on the poll choices. when you say "own house," do you mean own outright, with no mortgage whatsoever?

as it is, if i add savings + 401k + home equity + appreciation on home value, then subtract what i owe on our mortgage... i come out ahead by $250k-$300k.

having said that, i haven't been saving for my 4yo son's college fund, and my salary isn't going up quickly enough for my comfort level... so while it looks good on paper, i don't feel financially secure for the longterm.

 

[Old Pa]

Quote:

Originally Posted by VicAjax /img/forum/go_quote.gif i'm a bit confused on the poll choices. when you say "own house," do you mean own outright, with no mortgage whatsoever?

That is correct.

 

[VicAjax]

Quote:

Originally Posted by Old Pa /img/forum/go_quote.gif That is correct.

then i put "no debt;" my net worth is safely in the black even though i have a large mortgage.

 

[Archangel]

I will have about 58.000 USD in debt when I finish my course at university.
If I`m a good boy then it will be written down to approx 48.000 USD which I will be hoping for.

 

[Old Pa]

Quote:

Originally Posted by VicAjax /img/forum/go_quote.gif then i put "no debt;" my net worth is safely in the black even though i have a large mortgage.

You can put down anything you want to, but as long as you have a large mortgage, even if you could pay it off completely from other assets, then you have debt. As stated before, this is not about net worth.

 

[Thelonious Monk]

i'm debt free. and i still haven't seen 5 years worth of child support, so i guess i'm pretty well off

edit: this topic really makes me hope that i get into college on scholarship.

 

[Oski]

Quote:

Originally Posted by Old Pa /img/forum/go_quote.gif You can put down anything you want to, but as long as you have a large mortgage, even if you could pay it off completely from other assets, then you have debt. As stated before, this is not about net worth.

Wow, congrats Old Pa and Ken36! It's not an easy feat to fully payoff the house you live in.

I'm in a similar situation to VicAjax in that while I have a mortgage on my place, I have the cash in the bank to pay it off but don't currently. For me personally I think of my current mortgage as an asset, since I locked in a 30-year fixed for 5.0% back in mid-2003. Right now I can put my money in bank CDs and make more than 5.0%, so it makes more sense to have the cash and not pay off the debt.

 

[AdamP88]

Other than my car payments, I'm about $2k away from being debt free.

 

[ak622]

No mortgage, no student loans, and nothing else other than my monthly usage on my credit cards. I try to save up before making head-fi purchases and I'm trying to avoid any impulse buys.. This has worked for me so far but I'm trying to save up a good down payment for place which will bring me into big debt range!

 

[Shizelbs]

I have a ton of debt. House loans and student loans. Its all fine by me though. My financial picture is a good one.