Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
$51,000 really isn't a huge amount of debt, many college grads have much much more.
However .... you have set yourself a goal of paying all of this off and it seems to me that you aren't really trying too hard. Either get with the plan stick to it and reach your goal or keep adding to it and end up bankrupt before you are 30.
Paying down the lowest interest rate debt first because its on my sister's credit card and I want to pay it off quick. I haven't missed a payment.
$344 credit card is interest free for 9 more months, rather throw money onto my highest balance first. Also I don't owe money to friends, that is what they owe me.
Once again, this is a real post.
I can't wait for next month's update either!
Do you always add the money that's OWED TO YOU, to the amount you owe, to calculate the sum of your DEBT?
Has anyone asked this guy what he makes? Yes he's only 25 but for all we know he runs his own little tech business and is making $350k a year. If that's the case this debt is nothing and might be paid off next month.
Has anyone asked this guy what he makes? Yes he's only 25 but for all we know he runs his own little tech business and is making $350k a year. If that's the case this debt is nothing and might be paid off next month.
Motorcycle Loan $2,624.64 @ 10.9%
Car Loan $2,924.91 @ 1.49%
Credit Card 1 $334 @ 0% for 11 months until June 2016
Credit Card 2 $3,542 @ 12.49%
Credit Card 3 $5,760 @ 0% for 12 months until June 2016
Credit Card 4 $12,992 @ 0% for 18 months until December 2016
Line of Credit $6225.52 @ 10%
School Loan $10,244.33 @ 3.35%
Total Debt I’m Paying On = $44,647.40
Friend 1 Loan $4,500.07
Friend 2 Loan = $2,624.63
Total Debt In My Name = $51,772.10
New update as of 10/04/15.
Motorcycle Loan $2,498.94 @ 10.9%
Car Loan $2,728.61 @ 1.49%
Credit Card 1 $334 @ 0% for 11 months until June 2016
Credit Card 2 $3,700 @ 12.49%
Credit Card 3 $5,644 @ 0% for 12 months until June 2016
Credit Card 4 $12,122 @ 0% for 18 months until December 2016
Line of Credit $6,103.39 @ 10%
School Loan $10,124.94 @ 3.35%
Total Debt I’m Paying On = $43,255.88
Friend 1 Loan $5,711.30 This increased, I lent my friend $1500 to pay off a fine.
Friend 2 Loan = $2,498.93
Do you always add the money that's OWED TO YOU, to the amount you owe, to calculate the sum of your DEBT?
what.are.you.on?
It is owed to him, but he got the money in the first place via borrowing. He did not withdraw the money from his bank account, he borrowed it. He has to repay it whether the friends repay him or not.
It's easy to pick Dave Ramsey apart, there are things he believes that I do not, but at the end of the day he offers hope to the hopeless. Yes, he makes a great living doing it, but he also puts information out there that will work for anyone, even those who aren't self-proclaimed financial geniuses. I wonder how many Dave haters are broke economy professors...
Actually, college professors, as a group, are pretty good with money. They're right up there with small business owners, farmers, & engineers.
Quote:
Originally Posted by raggedjim
Most people will not do even the basic things to make their financial lives better.
Thank you. Especially when someone says that cutting cable simply "isn't possible" instead of admitting it's a personal choice. That sounds like crybaby language to me. If they would admit it's a conscious choice, I'd take them more seriously.
It is owed to him, but he got the money in the first place via borrowing. He did not withdraw the money from his bank account, he borrowed it. He has to repay it whether the friends repay him or not.
Thank you. Someone comprehended that ha!
Yes I'm super happy, this is my first post after a while where the debt actually decreased! A huge part of me wanted to book a vacation (that I DESPERATELY need) for October, would have cost me about a couple thousand BUT I refrained. Trying to get RID of this debt not add more, especially since I've already added a substantial amount when I financed my bike...
Instead of taking a vacation to NYC and spending a few grand, I'm actually going to head out to the Appalachian Trails and spend some time with nature, all for less than $50! Awesome!
The journey continues!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
