debt

A

aaron_wade

Well-known member
this 26 yr old girl at my job is $37K in debt. and she has no degree to show for it. not even a freaking certificate! nothing at all! i think she dropped out, b/c she had a baby. what in the hell was she thinking? can anyone relate to this?
 
Whooo, 37k in debt! I'm glad I can't relate. I think its amazing how much some people in their 20's are in the red.

I'm putting off getting a credit card for awhile.
 
It is hard to resist. After all, the payments are so small. It took my brother about 13 years to pay off his Sears and Pennys bills from college. It was probably about 600 bucks of stuff that wound up costing thousands.
 
Yeah, but college loans rock. I don't use credit cards, but college loans are at 2.7% right now. There is no way that you could ever get a loan like that with any credit card. Sure I have some money to pay off, but with my BFA piece of paper hopefully someone will recognize that. BTW, I didn't buy my DVX with all loans, just a little bit. I worked hard for that camer in a photo studio making ugly people look, well, less ugly.
 
Credit cards rock, if you use them right. I always pay it off at the end of the month, so it ends up being just an interest-free 30-day loan.
 
I agree Horsefilms, they are indespensible for buying stuff online, it all comes down to how responsible you spend with them. I don't have my own credit card, but I usually use my dad's, and pay him with cash the second we place the order. I try to pay with cash as much as possible, I don't even really like writing checks or using my debit card. It makes me cringe when I hear stories of people who spend with reckless abandon on their credit cards, get into huge amounts of debt, and then claim bankruptcy (sp?) all because of irresponsible spending. It almost makes me afraid to get one of my own credit cards.....
 
And it's a great way to track your spending. If you pay it off every month it's like having a free bookkeeper.

I spent my student loans on microphones and a PA for my band. All stuff I still have, and use (occasionally)
 
I think congress also just passed a law making it now impossible or difficult to declare bankruptcy to wipe out cc debt.
 
Debt sucks; paying more for an item than it really is sucks; I had some bad credit issues in my 20's (Not comparable to 37K in debt) with a low credit rating but changed all that in my 30's. MY new truck is 1% APR for 5 years. Now thats a good deal.

I found out recently I have a pre-approved $7500.00 Credit Line at DELL; I paid off my $3300.00 Dell in a week after purchase.

DEBT BAD

Understanding your credit and how it works = priceless.
 
..yeah, john if we use our card n vacation or something we pay it imediately when we get back too. my wife uses shopping store credit cards to buy stuff on discount, and then pays it off imediately in the same transaction with our debit card.

my fam has 0 debt, and owes nothing on any items we possess. we refuse to have it any other way. everyone else i know has large debts they have pay all the time. and their spend thrifty lifestyles will just keep them working to pay for it untill they die. I dont understand why its so hard for people to simply live within their means. If people just waiting til they could outright cash purchase the hings they want they would probably realize they dont really want or need it most of the time anyway. Ive watched people i know buy things they couldnt afford time and time again, and within a couple month or so they could care less about the purchased item, and still have years to pay for it. ..people are so impulsive and consumer minded.. they just have to have anything shiney that cathes their eye, and think nothing about the fishing line attached. i see so many people trying to stuff money in to one of their pockets, while being completely oblivious to the giant hole in the bottom of the pocket.. they try to get rich with one hand, while the other hand is busy paying debt. .. they try to buy happiness with what they dont have, when they havent found it with what they already have. if your not content with who you are, or what you have, or what you can do now, you will never be content with more of any ofthe same. and the pig grows bigger and thinks it needs to stick more food in its bigger mouth to get bigger.. to want more food.. to get bigger.. to want more food.. its no big suprise that nearly 70% + of the people that win the lottery go bankrupt within the next 5-10 years. absolutely rediculous. ..learn to live in the confines of the american reality before you try to live the american dream.

..steps off soap box..
 
Exactly Neil

Some things you just have to finance (a car or home for example); other items? Take the time to save up for it. I remember saving for my DVX100; stopped eating out lunch everyday and suddenly I had my camera.
 
All of this credit card and other debts deffinetly has an effect on the economy too. Too bad not everyone buys only what they have the money to pay for. It's alot easier to "buy" when someone simply slides a plastic card, but when you hand over cold hard cash, its alot harder to spend, and you really get an idea of how much you're paying. It was that way with my DVX, I got a job and worked full time for 1 summer, and part time through the next school year and pretty much saved 95% of the money and put it toward my DVX. When I wrote that check and paid for 100% of it right then and there and walked out the door with it, I didn't feel any buyers remorse, and it sure felt good to know that it was 100% paid for....
 
If you can use like HorseFilms, you're the lenders least favorite customer!

They call him a "convenience user". They hope and pray that he'll just slip for at least one month...

Before I met my wife, I paid off my balance every month without fail. Ah, those were simpler times...
 
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