Who's really debt free?

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[ARCHIVED THREAD] - Who's really debt free? (Page 1 of 4)

Posted: 12/20/2016 11:07:50 AM EDT

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

Posted: 12/20/2016 11:09:27 AM EDT

[#1]

If you "own" property you are never "debt" free.

Posted: 12/20/2016 11:09:53 AM EDT

[#2]

Unfortunately in this country if you own property or even a vehicle you can never be totally debt free.

Posted: 12/20/2016 11:10:21 AM EDT

[#3]

34, have a mortgage which should be paid off in six years. Humble brag.

Posted: 12/20/2016 11:10:42 AM EDT

[#4]

An ar's worth of credit card...

Posted: 12/20/2016 11:11:11 AM EDT

[#5]

Mortgage

Car Payment

Student Loans

Posted: 12/20/2016 11:11:25 AM EDT

[#6]

In for people who says they are totally debt free except 200k in mortgage debt.

Posted: 12/20/2016 11:11:29 AM EDT

[#7]

Quote History

Quoted:
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!

Posted: 12/20/2016 11:12:21 AM EDT

[#8]

Mortgage and truck loan. I'll never be out of the hole. Fuck it.

Posted: 12/20/2016 11:12:32 AM EDT

[#9]

The Asian culture is pretty debt free. Too bad I'm white

Posted: 12/20/2016 11:12:44 AM EDT

[#10]

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.

Posted: 12/20/2016 11:13:42 AM EDT

[#11]

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

Posted: 12/20/2016 11:13:43 AM EDT

[#12]

Mortgage only.

Posted: 12/20/2016 11:15:08 AM EDT

[#13]

Truck Payment and Credit Cards

Posted: 12/20/2016 11:15:15 AM EDT

[#14]

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.

Posted: 12/20/2016 11:15:26 AM EDT

[#15]

Student loans

Posted: 12/20/2016 11:15:34 AM EDT

[#16]

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.

Posted: 12/20/2016 11:15:58 AM EDT

[#17]

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.

Posted: 12/20/2016 11:16:20 AM EDT

[#18]

Paid off the mortgage last month! "We're debt free!"

Posted: 12/20/2016 11:17:35 AM EDT

[#19]

Only owe on our 0% Kubota til April. Really no point in paying it off early. There were no finance fees, only a $12 recording fee. Why not use other people's money for 5 years?

Posted: 12/20/2016 11:17:39 AM EDT

[#20]

Quote History

Quoted:
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.

Posted: 12/20/2016 11:17:45 AM EDT

[#21]

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.

Posted: 12/20/2016 11:19:26 AM EDT

[#22]

nope

Sometimes life kicks you in the nuts and you have to take on some debt.

Posted: 12/20/2016 11:19:33 AM EDT

[#23]

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.

Posted: 12/20/2016 11:19:39 AM EDT

[#24]

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.

Posted: 12/20/2016 11:20:20 AM EDT

[#25]

Five car payments left and I am totally debt free.

Posted: 12/20/2016 11:21:48 AM EDT

[#26]

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?

Posted: 12/20/2016 11:21:49 AM EDT

[#27]

Nada.

Posted: 12/20/2016 11:21:49 AM EDT

[#28]

Quote History

Quoted:
Five car payments left and I am totally debt free.

View Quote

Jesus, who needs five car loans?

Posted: 12/20/2016 11:22:07 AM EDT

[#29]

Quote History

Quoted:

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

Posted: 12/20/2016 11:22:19 AM EDT

[#30]

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.

Posted: 12/20/2016 11:23:49 AM EDT

[#31]

No problem with debt if you use it to work for you, and not against you.

Posted: 12/20/2016 11:23:53 AM EDT

[#32]

1 credit card away . House and cars are paid for. New car is in the future .

Posted: 12/20/2016 11:24:03 AM EDT

[#33]

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?

Posted: 12/20/2016 11:24:29 AM EDT

[#34]

Quote History

Quoted:
No problem with debt if you use it to work for you, and not against you.

View Quote

Damn...someone already answered my question!

Posted: 12/20/2016 11:24:38 AM EDT

[#35]

Quote History

Quoted:

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.

Posted: 12/20/2016 11:24:42 AM EDT

[#36]

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.

Posted: 12/20/2016 11:25:05 AM EDT

[#37]

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.

Posted: 12/20/2016 11:25:25 AM EDT

[#38]

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.

Posted: 12/20/2016 11:26:53 AM EDT

[#39]

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

Posted: 12/20/2016 11:27:39 AM EDT

[#40]

Quote History

Quoted:

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.

Posted: 12/20/2016 11:28:47 AM EDT

[#41]

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.

Posted: 12/20/2016 11:30:18 AM EDT

[#42]

Quote History

Quoted:

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.

Posted: 12/20/2016 11:30:53 AM EDT

[#43]

Quote History

Quoted:
If you "own" property you are never "debt" free.

View Quote

So much truth.

Posted: 12/20/2016 11:31:19 AM EDT

[#44]

Quote History

Quoted:
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!

Posted: 12/20/2016 11:31:49 AM EDT

[#45]

I'm totally debt free and been that way since 2012 after I made the last monthly payment on my Harley.

Posted: 12/20/2016 11:33:49 AM EDT

[#46]

Mortgage and 2 car loans. But I could pay them tomorrow if I wished. Rather keep the low interest loans and cash invested.

Posted: 12/20/2016 11:33:51 AM EDT

[#47]

Was 100% debt free this time last year. I'm currently toting two mortgages worth about 1.3 million.

Posted: 12/20/2016 11:34:29 AM EDT

[#48]

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.

Posted: 12/20/2016 11:34:34 AM EDT

[#49]

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.

Posted: 12/20/2016 11:35:01 AM EDT

[#50]

Quote History

Quoted:

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

.

[ARCHIVED THREAD] - Who's really debt free? (Page 1 of 4)

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