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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

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Old 10-17-2007, 12:54 PM
 
Location: Land of Thought and Flow
7,691 posts, read 9,188,615 times
Reputation: 4410

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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 4,145,855 times
Reputation: 879
Mine is easy...zero.
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Old 10-17-2007, 01:51 PM
 
Location: Toledo
3,857 posts, read 5,239,814 times
Reputation: 3571
$30,000 from student loans, $2,000 from credit cards.
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Old 10-17-2007, 02:28 PM
 
57,959 posts, read 29,481,080 times
Reputation: 7340
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 19,794,530 times
Reputation: 6652
$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
25,596 posts, read 32,355,085 times
Reputation: 37667
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
 
19,537 posts, read 22,722,750 times
Reputation: 26988
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 2,774 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 2,800,191 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 5,406,527 times
Reputation: 1154
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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