Is any of you in debt???

Question

If you are in debt...

How much money in debt are you???

Im in debt a little over three thousand dollars :-(

Answer 1

i make payments on my car outside of that i never borrow money if i was you i would pay of the 3000 dollars and try to pay cash for everything.

Answer 2

Real debt help is not quick or easy. Quick, pain-free fixes like debt consolidation, debt management, and bankruptcy actually cause you more harm than good.

Debt is dumb. Most normal people are just plain broke because they are in debt up to their eyeballs with no hope of help. If you're in debt then you're a slave, in the sense that you do not have the freedom to use your money to help change your family tree. According to a recent USA Today article about debt, 78 percent of baby boomers have mortgage debt, 59 percent have credit card debt, 56 percent have car payments.

It takes a lot of will, discipline, courage and help to slay the debt monster. But it can be done. Imagine how much you could put toward retirement if you just didn't have a stinking car payment? This is how the wealthy build their wealth. Debt is really dumb. Welcome to the real world!

Answer 3

I have about $3000 left on my non-mortgage debt.  That is about $10,000 less than this time last year.  It will be $0 by the end of Sept.

Answer 4

yes in the past not now for 10 yrs! i was literally a slave to my credit bill. hmm 3000? u can clear it. mine is 5000 (aprox) by the time i cleared most. i thought it will take me more than 24 mths or twice that length to clear but instead i clear in just four months and even has a surplus. as long as you have a job u can clear it. in fact my pay was very low and i was amazed i could clear it.

Answer 5

Yes I am in dept.  but I am plowing my way out of it.  One thing you need to remember is to pay the highest interest rate off first and pay as much as you can.  Pay the min. payment of all the rest of your debt.  Then, once you pay the first one off take all the money you were paying on that bill you payed off plus the normal min. payment you were paying and put it on the next debt.  then repeat until it is all paid off.  MOST IMPORTANT THING TO REMEMBER WHEN YOU ARE GOING THIS IS NOT TO ADD ANY MORE DEBT!!!  Get only what you can pay cash for.  

Now when I first started out 1 year ago I had over 10,000 in debt.  I now have 4,000 and decreasing every month. They were mixed credit cards and installment payments.  

Don't forget to pay yourself first.  What I mean is to put a set amount of money a month aside for emergencies.  Being in debt so much I could only put about 2% of my gross pay away in a savings account each month.  Now I am putting 10% of my gross pay away every month into a savings account, and when I get done, I am going to take half the money I am paying in bills right now into a retirement account or money market account for retirement.  I want to get to the place were I have all I own paid off, then I am able to put 20% of my gross income into investments of my choice each month for the next 20 years so I can retire early.  If you set this up automatically, you don't even realize the money is gone and you learn to live on the money you have in your bank account.  If you stop and think about it, if you pay off all your debt and are wise with your money,save for what you want instead of charging, you will save the interest the banks charge plus the head ache of paying your debt off.  I am almost there, good luck, and remember make your money work for you, not you work for your money!!!!!  Be smart!  Make a budget, only buy what you NEED and save for what you want.  Make it automatic via auto pay/transfers and you will only have to do it once.

Answer 6

$3,000 is not a terrible amount. Try to cut out wasteful spending in your budget. Cut out the extra sodas, eating out, extra clothes, extra shoes, junk. etc.  You wil find extra money. Put that toward the debt plus what you are paying now.  It will come down fast.  I bet you can get it paid off in a year.

Answer 7

i'm in debt but how much is none of your business, less than you though  :)