your morgage is not concidered debt but I car payment is becuase you will nver be able to sell it for what you owe on it and it could be wiped out in one accident

We have no car payment and I think its insain when people owe more for cars than they
do on a home.

I owe 800. in medical. Dont know if Ill ever pay it cause Its a mistake and I dont really owe it.But I cant seam to get it resolved.
I have less than 2000. in credit cards. and that is it. As low as our debt is it is too much for me and I wish I could afford to pay more than the mimimum so that we could get it taken care of.

I didn't mean to start all this, I was just saying that I don't personally consider my car payments as debt. When people complain about how much debt they are in, I think student loans, payday loans, credit cards, 2nd mort. etc.

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A woman is like a teabag. You never know how strong she is until she gets into hot water.-Eleanor Roosevelt

I don't think you started anything other than a wonderful thread...we can all learn a thing or two on this board. I learn something new every day on here...

Oh, I didn't think that. I was just reiterating what Kim and some others said. It is a fallacy to think that car loans are not debt. You will never recoup the money you spent in a car unless it is an antique or something. Very few cars appreciate in value.

Thanks for posting that little Macro lesson!!! I used to teach Macroeconomics 105 while in grad school!

Our Debt:

Just paid off the last of our CC debt this month
$8,000 on dh's car, but we are going to double up payments and pay it off by July
My car is a lease so I don't think it counts
Dh's motorcycle $12,000 (he just bought this new one a few weeks ago, before we decided to start focusing on saving rather than spending)

No house debt, as we rent (though I don't think a mortgage should count as debt)

So, about 20,000. Hopefully it will be more like 8 to 9,000 by summer.

Exactly, and that's what I saying. I PERSONALLY don't consider our car loans as debts. No matter if whether i'm gonna make any money off of it when I sell. It's just a personal thing. When I think of debt, I think of student loans, credit cars, or getting a huge TV on a loan.

$4,200 truck loan is our only debt. We own our home and my Jeep.

This comes at an awful price though, I've been working all my kids lives. But, this is also why I get to quit later this year! :yay!:

we have zero debt we even save a few $$ too!

We owe 96,000 on our mortgage, but we have our house for sale for 180,000
when it sells we'll pay off our mortgage
12,000 in cc debt, half of which has been used to pay for adopting our children
and our car 4500, but we are going to have to get a new (used) car soon, the transmission is acting up in my car. I hate debt, but God has helped us so far and he's blessed me too much to worry about money. We'll be out of debt one day and I definately look forward to it!

I honestly don't know how much debt I have. I know it's at least around $100,000-160,000 including my house, credit cards, medical bills, student loan, etc.