Freethought & Rationalism Archive

cheetah · 04-15-2003, 03:37 PM

Ok, everyone, 'fess up! Are you the typical American with tons of credit card debt? or are you clean as a whistle? My mom told me she read that the AVERAGE American has about $75,000 worth of debt NOT including their home mortgage or car!!! Whoa!

I am the type that pays off my credit card each month. I have zero debt, except that I just purchased one house and am buying a home for myself, too. I am considering letting myself go into debt for a short time, in order to afford buying some furniture, appliances and decor for my new home, but my partner feels we must never allow ourselves to go into credit card debt at all. I figure just a few thousand, but he is kinda adamant. I know I would be nervous about that debt and really want to pay it off, but I would also really like to have a nice home, and it's no good buying furniture over a period of 10 years. By the time your done with one room, it's already outdated!

Secondary poll: who thinks I should go into credit card debt and buy myself some furniture?

cjack · 04-15-2003, 03:44 PM

I just paid off the last of my credit cards, and re-financed my house.

I'm going to go right back into debt, though, as I need a new air conditioner. At least I can write it off as a home improvement!

I don't see anything wrong with going into debt to buy furniture. I did it, but made sure I could pay it off within a single year. If you can get a 12 months same-as-cash deal, go for it.

FoE · 04-15-2003, 03:46 PM

I owe about $400 in total.

Monkeybot · 04-15-2003, 03:46 PM

I'm gonna get slammed with mega student loan repayments when I graduate.

Derec · 04-15-2003, 03:57 PM

I can't quite believe that figure.

Are you sure it's not $75,000 total or $7,500 without mortgage/car loan?

On edit: I second the notion to make use of the same-as-cash deals. Just make sure you don't forget about the debt.

UMoC

oriecat · 04-15-2003, 04:00 PM

I find that 75,000 figure really hard to swallow if it doesn't include homes and cars. Maybe student loans would drive the average up, but still! That is an incredible amount of stuff.

I charge almost everything and pay off my bill in full every month. I owe about 45k on the house and 16k on the car.

Hedwig · 04-15-2003, 04:04 PM

I have some student loan payments and a semi-high credit card bill. But other than that I'm currently doing okay. My first full pay period will go to paying off my credit card.

Jacey · 04-15-2003, 04:11 PM

No credit cards, several thousand in the bank, several thousand invested (although that's shrunk quite a bit, fuck you Bush), well ahead on car payments, school tuition paid for by the Marines.

All that and I'm still stingy.........

Pensee · 04-15-2003, 04:21 PM

Quote:

Originally posted by Monkeybot
I'm gonna get slammed with mega student loan repayments when I graduate.

ditto :banghead:

beth · 04-15-2003, 04:22 PM

After loans, cards, etc.... about fifteen k. Business loans and student loans, though...

View Poll Results: How much debt do you have?
I am WORSE than the average American. Not counting my car and home, I have OVER $75,000 in debt!	4	4.71%
I am about average. I have approximately $75,000 in debt, not including my car or home.	4	4.71%
I am a good girl/boy! I have MUCH less than $75,000 debt!	30	35.29%
I am financially pious. I anally pay off my credit cards every month and have no debt except for my home and/or car.	47	55.29%
Voters: 85. You may not vote on this poll

04-15-2003, 03:37 PM	#1
cheetah Veteran Member Join Date: Sep 2001 Location: San Diego, CA Posts: 2,118	Poll: what's your level of financial indebtedness? Ok, everyone, 'fess up! Are you the typical American with tons of credit card debt? or are you clean as a whistle? My mom told me she read that the AVERAGE American has about $75,000 worth of debt NOT including their home mortgage or car!!! Whoa! I am the type that pays off my credit card each month. I have zero debt, except that I just purchased one house and am buying a home for myself, too. I am considering letting myself go into debt for a short time, in order to afford buying some furniture, appliances and decor for my new home, but my partner feels we must never allow ourselves to go into credit card debt at all. I figure just a few thousand, but he is kinda adamant. I know I would be nervous about that debt and really want to pay it off, but I would also really like to have a nice home, and it's no good buying furniture over a period of 10 years. By the time your done with one room, it's already outdated! Secondary poll: who thinks I should go into credit card debt and buy myself some furniture?

04-15-2003, 03:57 PM	#5
Derec Contributor Join Date: Aug 2002 Location: Atlanta, GA Posts: 15,686	$75,000 average?! I can't quite believe that figure. Are you sure it's not $75,000 total or $7,500 without mortgage/car loan? On edit: I second the notion to make use of the same-as-cash deals. Just make sure you don't forget about the debt. UMoC

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04-15-2003, 03:44 PM	#2
cjack Banned Join Date: Jul 2002 Location: Arizona Posts: 4,294	I just paid off the last of my credit cards, and re-financed my house. I'm going to go right back into debt, though, as I need a new air conditioner. At least I can write it off as a home improvement! I don't see anything wrong with going into debt to buy furniture. I did it, but made sure I could pay it off within a single year. If you can get a 12 months same-as-cash deal, go for it.

04-15-2003, 03:46 PM	#3
FoE Veteran Member Join Date: Nov 2001 Location: Ottawa, Canada Posts: 1,168	I owe about $400 in total.

04-15-2003, 03:46 PM	#4
Monkeybot Veteran Member Join Date: Feb 2001 Location: North Carolina Posts: 8,102	I'm gonna get slammed with mega student loan repayments when I graduate.

04-15-2003, 04:00 PM	#6
oriecat Veteran Member Join Date: Feb 2001 Location: Portland OR USA Posts: 1,098	I find that 75,000 figure really hard to swallow if it doesn't include homes and cars. Maybe student loans would drive the average up, but still! That is an incredible amount of stuff. I charge almost everything and pay off my bill in full every month. I owe about 45k on the house and 16k on the car.

04-15-2003, 04:04 PM	#7
Hedwig Veteran Member Join Date: Nov 2001 Posts: 3,921	I have some student loan payments and a semi-high credit card bill. But other than that I'm currently doing okay. My first full pay period will go to paying off my credit card.

04-15-2003, 04:11 PM	#8
Jacey Banned Join Date: Mar 2001 Location: the gulag Posts: 3,043	No credit cards, several thousand in the bank, several thousand invested (although that's shrunk quite a bit, fuck you Bush), well ahead on car payments, school tuition paid for by the Marines. All that and I'm still stingy.........

04-15-2003, 04:22 PM	#10
beth Veteran Member Join Date: Jan 2003 Location: where orange blossoms bloom... Posts: 1,802	After loans, cards, etc.... about fifteen k. Business loans and student loans, though...

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