[ejheverest]

0 debt excluding mortgage. Girlfriend is the same.

[newdadkel]

Student loan----Business loan. Only 200K left. It actually helps A LOT for tax reasons but Im tired of keeping it on the books so getting rid of it in the next 12-18 months.

[markham335i]

0$ - havn't bought my house yet tho

if your doing this for school ur research maybe a little bias coming from a bmw forum =\

[double_j]

Car loan and mortgage. I'm in a positive net worth situation once you factor in the value of the assets behind them!

[Hawkeye]

Student loans ~ 25K left only (no parental help and grad school was even more expensive than undergrad!)
Vehicle loans ~30K left
Mortgage too

Girlfriend had parents pay for her college/car so she has zero debt and is in her mid 20's as well.

For all you cash only people, get off your high horse and stop being such douches. Unless you come from money or wait till you are old balls you cannot afford nice things in life without some loan debt.

[TK-421]

Originally Posted by morfinx

Not me. Got through college and grad school with ZERO parental help. Did it by working part time jobs (at one point more 2 jobs at a time), massive amounts of student loans, and graduate school funding. Paid for all of my education and vehicles with my own money and damn proud of it

That's what I'm doing now. It's a bitch and a half, that's for sure.

[double_j]

Originally Posted by Hawkeye

For all you cash only people, get off your high horse and stop being such douches. Unless you come from money or wait till you are old balls you cannot afford nice things in life without some loan debt.

I could either agree or disagree with this statement but it really depends on what you define as 'nice things'.

Debt to buy a house - OK.

Debt to buy a Louis Vuitton bag - maybe not so smart.

Debt to buy your only source of transportation - acceptable

Being underwater on a loan for your only source of transportation - stupid.

[NYC6]

$400-$500 on CC's is all. House paid for, cars paid for. I hate being in the hole looking up. We're looking for a summer place in Naples, Fl at this time. Depending on price we might finance some. I hope not to though.

[Freakazoid]

Originally Posted by Hawkeye

For all you cash only people, get off your high horse and stop being such douches. Unless you come from money or wait till you are old balls you cannot afford nice things in life without some loan debt.

this, this is exactly why I haven't posted in this thread.

[Sara]

House $0
Car 10k left
CC's all 3 combined less than 1k
Horses- Never ending. If I didnt have horses I'd own a Ferrari.

[InsanePineapple]

Originally Posted by Hawkeye

Student loans ~ 25K left only (no parental help and grad school was even more expensive than undergrad!)
Vehicle loans ~30K left
Mortgage too

lol completely opposite for me. My stupid ass decided to go to a private school for undergrad (I hugely regret this now) and ended up with a butt load of student loans from that. Grad school was free because I got funding

Originally Posted by TK-421

That's what I'm doing now. It's a bitch and a half, that's for sure.

Hang in there, you'll make it through! Besides, you seem to be doing a much better job than I was in grad school. You are driving a BMW after all. I was driving a Honda Civic at the time

[NaNo_F1]

If you grasp basic finance concepts you don't need to say anything on here except laugh... cant believe some of u even have a bmw

[InsanePineapple]

Originally Posted by NaNo_F1

If you grasp basic finance concepts you don't need to say anything on here except laugh... cant believe some of u even have a bmw

Please, do tell Why can't you believe it?

[NaNo_F1]

You must have thought because I posted below you I was aiming for you...not the case but what I mean is its just complicated to explain, everyone has different situations, but debt is by no means being careless with your money, as some of our our cash loaded friends on here propose. There is no method to impose on everyone, basic example if you can make 5% returns on whatever monetary investment you prefer, it makes no sense to pay cash as opposed to financing at 1.9% and using your returns on your cash (basic example, assuming you can make 5%). If its your personal preference to not have any debt, then thats ok too, just saying, you could at least make some more money while you have the money. In any case, Im an idiot too for buying mods on a deppreciating asset and my mods will be worth 1/2 their value when I sell them, see, we all do dumb things Should we start a financial section, is there one? It seems a lot of people have questions on this stuff, there's probably more knowledgeable people than me on here but it would be good resource, even if its just for basic concepts, I mean, dont take any advice from the internets!

[DougLikesBMW]

$0

I have my parents to thank for supporting me financially.

[ScotyH]

Originally Posted by NaNo_F1

You must have thought because I posted below you I was aiming for you...not the case but what I mean is its just complicated to explain, everyone has different situations, but debt is by no means being careless with your money, as some of our our cash loaded friends on here propose. There is no method to impose on everyone, basic example if you can make 5% returns on whatever monetary investment you prefer, it makes no sense to pay cash as opposed to financing at 1.9% and using your returns on your cash (basic example, assuming you can make 5%). If its your personal preference to not have any debt, then thats ok too, just saying, you could at least make some more money while you have the money. In any case, Im an idiot too for buying mods on a deppreciating asset and my mods will be worth 1/2 their value when I sell them, see, we all do dumb things Should we start a financial section, is there one? It seems a lot of people have questions on this stuff, there's probably more knowledgeable people than me on here but it would be good resource, even if its just for basic concepts, I mean, dont take any advice from the internets!

Couldn't agree with you more. Those who say they pay cash for their 60k car are full of shit and/or mentally handicapped.

Having that 60k working for you in an investment at 8% & having a car loan at 4% while also being able to write off the interest & depreciation seems a bit smarter to me.

It takes money to make money. Generally speaking, if you have large & smart debt, you are going to make a good return.

Only those born into old money families don't really need to worry about these things.

The misconception is that if you have no debt, you must be on your way to be ballin'.

What we should really be looking at is net worth if some of y'all want to have a pissing match.

[Cdnrockies]

Originally Posted by Hawkeye

For all you cash only people, get off your high horse and stop being such douches. Unless you come from money or wait till you are old balls you cannot afford nice things in life without some loan debt.

Originally Posted by NaNo_F1

You must have thought because I posted below you I was aiming for you...not the case but what I mean is its just complicated to explain, everyone has different situations, but debt is by no means being careless with your money, as some of our our cash loaded friends on here propose. There is no method to impose on everyone, basic example if you can make 5% returns on whatever monetary investment you prefer, it makes no sense to pay cash as opposed to financing at 1.9% and using your returns on your cash (basic example, assuming you can make 5%). If its your personal preference to not have any debt, then thats ok too, just saying, you could at least make some more money while you have the money. In any case, Im an idiot too for buying mods on a deppreciating asset and my mods will be worth 1/2 their value when I sell them, see, we all do dumb things Should we start a financial section, is there one? It seems a lot of people have questions on this stuff, there's probably more knowledgeable people than me on here but it would be good resource, even if its just for basic concepts, I mean, dont take any advice from the internets!

Originally Posted by ScotyH

Couldn't agree with you more. Those who say they pay cash for their 60k car are full of shit and/or mentally handicapped.

Having that 60k working for you in an investment at 8% & having a car loan at 4% while also being able to write off the interest & depreciation seems a bit smarter to me.

It takes money to make money. Generally speaking, if you have large & smart debt, you are going to make a good return.

Only those born into old money families don't really need to worry about these things.

The misconception is that if you have no debt, you must be on your way to be ballin'.

What we should really be looking at is net worth if some of y'all want to have a pissing match.

Seems the posts in this thead all point to a very young, well taken care of demographic.

As mentioned in these posts, debt isn't necessarily a bad thing.

North of $3M here and quite ok with it.

[chachacha28]

lol, i have a networth thats probably in the negatives.

22 and in the military.