Not including the mortgage on the house but include credit cards, bank loans, car loans, intrest free stuff in the house etc. And how old are you - what's you plan to reduce this?
2006-09-15 00:59:30 · 33 answers · asked by BigBoy 3 in Business & Finance ➔ Personal Finance
I'm 33 and have a mortgage and have just spent the last 4 years trying to sort out car finance, credit cards, and 2 bank loans. I cleared it all in May this year and have promised my self unless it absolutely necessary that I wont get in debt again. Its a great feeling being debt free again and I now have a huge amount of disposable income simply because I'm not paying credit off - I recommend it to anyone who is in debt.
2006-09-15 01:12:00 · update #1
I'm in my mid twenties and have a few sources of debt, but no credit card debt whatsoever...Stay away from credit card debt and the game they want you to play. Buy things on the card and pay them off right away...Build up that credit...
I have a car loan with about $3500 left that I will pay off with my tax return next year. I am months in adavance on the note as well. I think my next payment isn't due until July of 2007. Its $200/month and I send off payments as often as I can. You have to be aware that you can either buy some clothes OR you can pay of the car quicker with an extra payment. It's a decision I think is easy, but friends want to buy the clothes and pay each month with nothing in advance and no hope of paying off the car early.
With that said, not that you asked per se, but I would highly recommend to anyone to buy QUALITY pre-owned cars and pay them off early and enjoy the fun of not paying a note on the car. Buy a Lexus or Acura from a few years ago that are reliable cars and look new, but are thousands less.
Anyhoot..
I also have roughly $10,000 left of college loans that is at 3% at the moment. It's $100/month and its something I am also in advance with, but I get the tax write off and because the interest rate is so low, I am not in such a huge hurry to pay it off as say the car loan. I still would like to pay this bad boy off years early and save thousands in interest, but at the moment, I just keep paying an extra $100 here and there for months in advance...
Other than that, I am good to go...
2006-09-15 04:43:23 · answer #1 · answered by JRockLC25 2 · 0⤊ 0⤋
Well...I have 1 car almost paid off a credit card with a $1,000 balance left after buying all new furniture. My plan to reduce it is to do what I am doing right now, paying double payments on the Credit Card. The Car is 0% financing.
2006-09-15 01:09:20 · answer #2 · answered by KathyS 7 · 0⤊ 0⤋
My Car 15000
personal loans 1000
credit cards combined 2000
Those figures are in US dollars after I converted it from south african Rands.
I am currently working my *** off to pay all of it off but I am getting somewhere since I am spending less & paying off more nowadays. Plus I won a few grand at the casino the other day & I payed some credit card debt off.
2006-09-15 01:12:51 · answer #3 · answered by Claude 6 · 0⤊ 0⤋
I'm 25 and have about £2000 owed on various things, about £500 on cards, I just got a loan for my holiday of £1000 so that pushed it up quite a bit. The rest is just on small things like catalogue stuff.
My plan to reduce this is to pay off more than usual over the next few months to get it all cleared.
2006-09-15 01:04:34 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Nothing. Had about £45K about this time last year but sold a property and worked hard to pay it all off. Now, nothing but mortgage on my home and another property investment! I'm 34 & will begin over paying on my mortgage as I plan to be mortgage free in 12 years!!
2006-09-15 03:11:58 · answer #5 · answered by scallywag 4 · 0⤊ 0⤋
I have about 9500 $ in debt. On two credit cards and a credit line. I just consolidated the two credit cards to the credit line because it charges less interest. I now make larger payments to one place and am paying less interest and finance charges in this process.
I'm between 20 and 30 years old.
2006-09-15 01:01:46 · answer #6 · answered by KinfOfPly 3 · 0⤊ 1⤋
Student Loans - around $50,000
Credit Card - $300
I plan on living at home a few more years after graduation (unfortunately)...and attempting to pay down the loan at about $5,000 to $10,000 a year for a few years. I don't know though how that will go; we will see.
2006-09-15 01:11:29 · answer #7 · answered by L 2 · 0⤊ 0⤋
I'm 24 and have no debt. Until last year I had about 10k of debt but paid it all off with my annual bonus last christmas. Since then I haven't used a credit card once.
2006-09-15 01:08:10 · answer #8 · answered by Anonymous · 0⤊ 0⤋
im in no debt just the mortgage ,i have no credit cards or loans my bills are only ntl ,electric and mobile phone bill and a car insurance pay monthly ,
i was worse last year but moving house last year i got more for my old house and cleared alot up and treated myself.
2006-09-15 01:05:28 · answer #9 · answered by Nutty Girl 7 · 0⤊ 0⤋
Live for the Moment - don't sit and wring your hands wishing your life away...watching everyone else have fun .. at-the end of the day the Credit companies cant Crucify you can they...(unless you borrowed from mad Jimmy Fae Govan) Once you realise you cant handle the amount you owe - don't start crying - contact them and offer to pay at an amount you can handle - or do a bunk to Spain - on a Credit Card of course.. Look at me I owe about £80K in credit cards... but who cares..let them take it out of my backside..!
2006-09-15 01:04:39 · answer #10 · answered by Anonymous · 0⤊ 0⤋