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Posted: 12/20/2016 10:07:50 AM EST
So...I know there's a lot of Dave Ramsey echo's running around here on ARFCOM. But who is really debt free? I'm sure it's a fair chunk of the populace here. Myself and my family should be only under a mortgage's burden by mid 2017. Right now we have the consummate auto loans, and a bit of revolving credit balance that is pending closure.

Poll inbound
Link Posted: 12/20/2016 10:09:27 AM EST
If you "own" property you are never "debt" free.
Link Posted: 12/20/2016 10:09:53 AM EST
Unfortunately in this country if you own property or even a vehicle you can never be totally debt free.
Link Posted: 12/20/2016 10:10:21 AM EST
34, have a mortgage which should be paid off in six years. Humble brag.
Link Posted: 12/20/2016 10:10:42 AM EST
An ar's worth of credit card...
Link Posted: 12/20/2016 10:11:11 AM EST
Mortgage
Car Payment
Student Loans
Link Posted: 12/20/2016 10:11:25 AM EST
In for people who says they are totally debt free except 200k in mortgage debt.
Link Posted: 12/20/2016 10:11:29 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MARINE-ORDIE:
If you "own" property you are never "debt" free.
View Quote


Tax burden isn't a debt. Besides, uncle Joe said you should be joyus when you pay your taxes. Your greedy ass finally gets to help your fellow man via letting Uncle Sugar decide what needs to be done with your money.

Now put a smile on your face and gimme my money!
Link Posted: 12/20/2016 10:12:21 AM EST
Mortgage and truck loan. I'll never be out of the hole. Fuck it.
Link Posted: 12/20/2016 10:12:32 AM EST
The Asian culture is pretty debt free. Too bad I'm white
Link Posted: 12/20/2016 10:12:44 AM EST
Totally debt free.
House is paid for as well as both vehicles.
No CC debt either.
I *might* buy a new truck next year as a retirement gift for myself and if I do I will probably note it for two years.
Link Posted: 12/20/2016 10:13:42 AM EST
I only have student loans right now. Saving for a downpayment on a house. So in two years I'll have student loans and a house loan
Link Posted: 12/20/2016 10:13:43 AM EST
Mortgage only.
Link Posted: 12/20/2016 10:15:08 AM EST
Truck Payment and Credit Cards
Link Posted: 12/20/2016 10:15:15 AM EST
I am debt free, wife has 65k in student loans. Together we have about 3k balance between two CCs that will be paid off in the next 60 days. Both vehicles paid off.
Link Posted: 12/20/2016 10:15:26 AM EST
Student loans
Link Posted: 12/20/2016 10:15:34 AM EST
you're never totally debt free.
I don't have any of the listed obligations in your poll, no outstanding loans or CC debt
now it's just taxes, insurance, a HOA fee, living expenses and utilities.
Link Posted: 12/20/2016 10:15:58 AM EST
Mortgage, and just recently a car payment. The wife sold her Jetta back to VW, and bought a Grand Cherokee. Nice Jeep, but it sucks having a car payment again.
Link Posted: 12/20/2016 10:16:20 AM EST
Paid off the mortgage last month! "We're debt free!"
Link Posted: 12/20/2016 10:17:35 AM EST
Link Posted: 12/20/2016 10:17:39 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Panhandle:
you're never totally debt free.
I don't have any of the listed obligations in your poll, no outstanding loans or CC debt
now it's just taxes, insurance, a HOA fee, living expenses and utilities.
View Quote


Those aren't debts, those are expenses. Very different. Both require you to pay money out of your pocket, but for different reasons.
Link Posted: 12/20/2016 10:17:45 AM EST
[Last Edit: 12/20/2016 10:20:31 AM EST by brassburn]
I pay taxes year 'round. I just can't seem to get them paid off.



ETA: The majority of the posters in any thread related to the subject of debt (of any kind) will claim to be debt free. Being debt-free (save for a mortgage to please the Dave Ramsey-ites) is remarkably rare these days. Wages have been pretty stagnant for a long time and expenses are higher across the board. Debt is an unfortunate reality for a great many people. I don't judge because I carried quite a lot of debt for 20 years solid. People do what they have to do. That's all.
Link Posted: 12/20/2016 10:19:26 AM EST
nope

Sometimes life kicks you in the nuts and you have to take on some debt.
Link Posted: 12/20/2016 10:19:33 AM EST
All the above.   

Autos will be paid off in April and credit cards in about 12-18 months.  I'll have a mortgage and student loan debt until the day I die.  
Link Posted: 12/20/2016 10:19:39 AM EST
Debt is for suckas.

In all honesty, though, if Hillary had won, I would have leveraged myself to the hilt and neckbearded .22 like a motherfucker.
Link Posted: 12/20/2016 10:20:20 AM EST
Five car payments left and I am totally debt free.
Link Posted: 12/20/2016 10:21:48 AM EST
I can write a check and pay off my total debt with a lot left over.
Perhaps a better metric is what is your net worth?
Link Posted: 12/20/2016 10:21:49 AM EST
Nada.
Link Posted: 12/20/2016 10:21:49 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Obrez:
Five car payments left and I am totally debt free.
View Quote


Jesus, who needs five car loans?
Link Posted: 12/20/2016 10:22:07 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dyezak:


Tax burden isn't a debt. Besides, uncle Joe said you should be joyus when you pay your taxes. Your greedy ass finally gets to help your fellow man via letting Uncle Sugar decide what needs to be done with your money.

Now put a smile on your face and gimme my money!
View Quote


Debt

1.something, typically money, that is owed or due:

•the state of owing money




Link Posted: 12/20/2016 10:22:19 AM EST
I pay rent to the state on my property... and I pay the state so I can put my car on the road..

Other than that just student loans.
Link Posted: 12/20/2016 10:23:49 AM EST
No problem with debt if you use it to work for you, and not against you.
Link Posted: 12/20/2016 10:23:53 AM EST
1 credit card away . House and cars are paid for. New car is in the future .
Link Posted: 12/20/2016 10:24:03 AM EST
Sooo...for those with wisdom beyond the years of yore:

What's the difference between a leveraged investment and investment real estate with a mortgage?
Link Posted: 12/20/2016 10:24:29 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By williammunny:
No problem with debt if you use it to work for you, and not against you.
View Quote


Damn...someone already answered my question!
Link Posted: 12/20/2016 10:24:38 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dyezak:


Those aren't debts, those are expenses. Very different. Both require you to pay money out of your pocket, but for different reasons.
View Quote

And if you don't pay any of those would a "debt" collector be calling on you? I think the answer is YES.
Link Posted: 12/20/2016 10:24:42 AM EST
Wife and I, 52, 54
Paid off the house three years ago.
Three cars and three bikes, most all newer and paid cash.
No other debt. Never paid a dime in CC interest (28 years), 401k's are funded(ing) and we are building cash reserves.

Bragging? Not really. Just letting others know life without debt is possible.
Link Posted: 12/20/2016 10:25:05 AM EST
[Last Edit: 12/20/2016 10:27:12 AM EST by Elsinore13]
Just wrote a check for a new Tundra TRD Pro. Fuck Uncle Sam brag.... [;)

Age 51. Just under a half million in debt. House, business and all equipment, motorhome, 40 old motorcycles, 1/2 dozen cars and trucks, beach house and 26 townhouses. Fuck Dave Ramsey living in his mansion. People just need to learn to manage their debt. I could be debt free pretty quick if needed.
Link Posted: 12/20/2016 10:25:25 AM EST
I have a credit card that I use and pay off every month. Own the house and the car, no other loans or any type.
Link Posted: 12/20/2016 10:26:53 AM EST
I'm about to be. Once refi with soon to be ex happens I will have zero debts. Cost me all of my money though
Link Posted: 12/20/2016 10:27:39 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MARINE-ORDIE:

And if you don't pay any of those would a "debt" collector be calling on you? I think the answer is YES.
View Quote


Common understanding, not oxford definition:

Debts can be eliminated and have a finite end.

Expenses can never be eliminated, and yes, not paying them will incur penalties.
Link Posted: 12/20/2016 10:28:47 AM EST
Paid off our mortgage this summer (10th year of a 30-year mortgage). That was the only debt we had left.

No car loans.

No student debt.

No credit card balances (pay them in full each month).

Never did the Dave Ramsey program or anything like that. Learned this stuff early in life and married a frugal woman.

Now that's not to say that we might not have debt again sometime in the future. Debt is a tool. Like any tool it can be used wisely or poorly. If our priorities are such that we want to utilize debt again then we will.
Link Posted: 12/20/2016 10:30:18 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dyezak:


Common understanding, not oxford definition:

Debts can be eliminated and have a finite end.

Expenses can never be eliminated, and yes, not paying them will incur penalties.
View Quote

I guess we can agree to disagree. I "own" the lot next to my house. Paid cash for it. I still pay taxes on it and consider it a debt to the State and it is budgeted for.
Link Posted: 12/20/2016 10:30:53 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MARINE-ORDIE:
If you "own" property you are never "debt" free.
View Quote

So much truth.
Link Posted: 12/20/2016 10:31:19 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By USMC6177:
I'm about to be. Once refi with soon to be ex happens I will have zero debts. Cost me all of my money though
View Quote


No debt, no assets! Congrats you're 18y old again!
Link Posted: 12/20/2016 10:31:49 AM EST
I'm totally debt free and been that way since 2012 after I made the last monthly payment on my Harley.

Link Posted: 12/20/2016 10:33:49 AM EST
Mortgage and 2 car loans. But I could pay them tomorrow if I wished. Rather keep the low interest loans and cash invested.

Link Posted: 12/20/2016 10:33:51 AM EST
Was 100% debt free this time last year. I'm currently toting two mortgages worth about 1.3 million.
Link Posted: 12/20/2016 10:34:29 AM EST
The only long term debt I have is my mortgage. 1 credit card that gets paid off every month.

I do have a positive net worth, which I think is more important than being debt free anyway. Not all debt is toxic.
Link Posted: 12/20/2016 10:34:34 AM EST
I have a tiny sliver of mortgage left, but I also have 3x enough money in my immediate cash savings account to pay it off. I'm not too concerned about it.
Link Posted: 12/20/2016 10:35:01 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MARINE-ORDIE:

I guess we can agree to disagree. I "own" the lot next to my house. Paid cash for it. I still pay taxes on it and consider it a debt to the State and it is budgeted for.
View Quote


Agreed. You'll never be done owing someone for something. What word you want to brand that with is variable. We all know gay means a happy go-lucky person. But if everyone started randomly calling homosexual people gay then eventually we would have a different definition of that word .
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