Morgage $77,000.00 5.7%
Car $3,200 (will be paid off in the next 6 months)
CC-3,000
Dental 500.00
Then the worst bill of all HE $15,000 (remodeled kitchen, roof, house painted)

The Mini Van will be paid off in the next 4 months then we can attack the rest, Since I am charged no interest on the dental bil.l I admit I only send the required amount due every month.

[quote=stacia]I seem to be the only one who doesn't consider a mortgage and auto payments "debt." When you say debt, I think of credit cards or personal loans, that type of thing.

I like your way of thinking. And like someone else said a house is an investment. Ours has been increasing an average of 8-10% each year. I don't see this trend forever, but I 'm glad I bought when I did. So, if I take out my mortgage and auto, we're only $4325. CC debt @ 0%.

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:love:R4JBNS Traci
Wife to Ben Sahm to Jonathon, Jessyca, Jordan & Jackson

I’ve been SWAK’d!
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I’ve been SWAK’d!

I consider a mortgage "good debt". Technically, it is still debt, but you are right, an investment.

Like aliadam, we use credit cards but pay them off every month. The only thing we owe is our mortgage which is for only another 12 years at $89,000 or so.

Looking everyone elses debit makes me feel a little better. Just knowing other people have debit too.

We have about 10k in CC and about $250 in medical bills.

We own the car but I really want to buy a newer used car, I'm sick of putting money into this one. I've had the car for 6 yrs now.

Yes, a mortgage is "good debt" and very different from consumer debt. Your home's market value goes in the asset column of your financial balance sheet; your outstanding mortgage goes on the liability side. The difference is your equity. When you have consumer debt, there is nothing to put on the other side of the balance sheet to even things out.

My debt is as followed....

CC = 5,000...we will be paying it off with our tax return...so that will be gone shortly.
Auto = 12,000 truck
16,000 van
Mortage = 250,000 x about 28 more years to go......but we have tons of equity. When we sell the house this year we will be able to move into our new house without a mortgage/ car payments...atleast that is the plan.

Two of my kids are in private school which cost me 4,000 per child a year. I have many more years to go....

In one more year I think we will be in a great position...!!!:happy dance:
In the mean time we are pretty broke.

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Heather
Mom to three dd 14, ds 8, dd 5

I dont consider the mortgage a debt either. We are getting ready to sell our house in the next year and make a great profit off of it.
Mortgage $80,000
Car 10,000
CC 1,000
That's about all the debt we have. I refuse to use a credit card unless I absolutely have to and the amount on mine will be paid off next time I get the bill.

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www.myspace.com/ohiostatebaby

Formerly known as Cam's mommy

I consider mortgage and auto payments to be debt because you don't own it until it is paid for. If you default on your loan, they take it.

Yes like Stacia, I don't condsider our cars and house as debt. We have two houses so two mortgages, and I won't even mention how much that is. We live in Northern Virginia and both our houses are in this area. We have two cars and still owe on that. But like I said we don't count that as debt. Other than that we don't have any outstanding debt. We pay our credit cards off every month.

lets see
mortgage 78,000
cc/misc loans 25,000
so total 103,000

wich was worse i just used our tax return to pay off over $6000.00 in medical bills...