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View Poll Results: How much luxury debt do you have
$0 38 59.38%
$1-2000 9 14.06%
$2001-$5000 3 4.69%
$5001-$10000 5 7.81%
$10000+ 9 14.06%
Voters: 64. You may not vote on this poll

 
 
Old 10-17-2007, 12:54 PM
 
Location: Land of Thought and Flow
7,691 posts, read 9,087,369 times
Reputation: 4404

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With all of the credit problems in America - I've looked at the results of the Net Income thread.. and want to try a comparison for a class I'm taking.

Aside from:
Mortgage/Rent
Car
Electric
Water
Natural Gas
Child Support
Cellphone
Cable/Phone/Internet

These are the debts I want to get figures on:

College ((yours and/or Your Kid(s)'s))
Credit Cards
Any sort of "financing" ((like for Lasik or DFS))




I just want to see if there's a correlation between income and "luxury" debts. If you want to, provide your answers from the Net Income thread along with your answer here.

If you don't want it to be public, you can PM me with the answers.

Thank you, all!
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Old 10-17-2007, 01:46 PM
 
Location: Southwest Missouri
1,921 posts, read 4,105,771 times
Reputation: 879
Mine is easy...zero.
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Old 10-17-2007, 01:51 PM
 
Location: Toledo
3,857 posts, read 5,177,374 times
Reputation: 3571
$30,000 from student loans, $2,000 from credit cards.
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Old 10-17-2007, 02:28 PM
 
57,179 posts, read 28,898,230 times
Reputation: 7241
Zero debt other then mortgage, and that'll be paid off by the end of the year. Car was just paid off this week.
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Old 10-17-2007, 02:31 PM
 
Location: Marion, IN
8,192 posts, read 19,589,037 times
Reputation: 6639
$0.00

I have been debt free for 2 weeks short of 2 years.
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Old 10-17-2007, 02:33 PM
 
Location: Far from where I'd like to be
25,391 posts, read 31,712,866 times
Reputation: 37138
I only have a mortgage. I paid cash for my car last December, and pay off my credit cards every month.
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Old 10-17-2007, 02:36 PM
 
19,333 posts, read 22,326,419 times
Reputation: 26773
About 12k for land. Be paid off before 12/08. House paid off years ago. Cars same. Except for the lot we've been debt free for 6 years.
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Old 10-17-2007, 03:26 PM
 
2 posts, read 2,744 times
Reputation: 11
0.

I'm really proud of ourself. Our family of 3, came to this country 7 years ago with $3000. Now we have our own house cost over $300,000 with 30% down, no debt at all. We bought 2 cars in cash, one is used. Our family is bigger now, 2 kids, a girl and a boy!

We are very happy even though our family income is just below average in CA.
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Old 10-17-2007, 03:29 PM
 
781 posts, read 2,780,790 times
Reputation: 247
Also.....zero:-) Good luck on your paper.
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Old 10-17-2007, 04:49 PM
 
2,141 posts, read 5,361,700 times
Reputation: 1153
Quote:
Originally Posted by Changlelele View Post
0.

I'm really proud of ourself. Our family of 3, came to this country 7 years ago with $3000. Now we have our own house cost over $300,000 with 30% down, no debt at all. We bought 2 cars in cash, one is used. Our family is bigger now, 2 kids, a girl and a boy!

We are very happy even though our family income is just below average in CA.
You should be proud! I've learned that most immigrants work very hard and tend to pay for many things in cash and carry very little debt. Good for you!
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