OMG I hate thinking about this! Heres what our debts are:

Mortgage -131,000
My car- 9,000
Student Loans- 27,000
Home equity loan- 16,000
Credit Card- 4000

Grand Total -187,000!!!!


Now the bright side is student loans will be paid off in six years or sooner if we make any extra payments. Our mortgage will be paid off in 14 years (I pay extra every month) home equity loan will be paid off in 8 years, my car is done in august of 08 and credit card will be done in 11 months. So we are gonna be better off in less than 10 years.

CONGRATULATIONS!! i too am a big fan of dave ramsey. we have paid off over $60k in 3 years using his plan... and that's with me staying home & my hubby making about $69k.

now we owe about $133k on our mortgage and $13k in student loans. we are racing to pay off both of these and be totally debt free in time to pay cash for our three kids to go to college.

btw, i urge all of you to check out dave ramsey. his plan is incredible!

The only debt that we have is our home, which we bought a year ago. We owe approximately $175,000. Since we have no other debt, we do pay more than necessary each month on the mortgage so we can chip away at it a little more quickly.

We were in an unusual situation in that the first few years of our marriage, my husband was in a job where our housing was completely paid for (including the utilities minus the long distance). We took advantage of this time to pay off our car--one was already paid for but one was newer. We were double income, no kids at that time so we also paid off my student loan which was $20k+. We paid the car and student loan off in 2 years as well as cushioned our savings. Had it not been for our savings, we would not have been able to afford to put down so much on our first home nor could I have been a SAHM. Luckily, my husband had no student loans and neither of us had credit card debt.

Not to bad right now. We owe for 2 cars 5000. One credit card, for shop stuff 2000.

We pay the credit cards off every month. My car just got paid off last month. So the mortgage & 2 years left on DH's car would be around $69K. I could write a check to pay it off, but we prefer to invest that money in other ways. We bought this house almost 6 years ago for $275K & only owe $66K on it now, so I think we're doing OK.

Here's were we are

Mortgage 150,000
HEL 35,000
Highlander 12,000
Credit Cards 17,000

We don't have any savings. The kids have more in their savings then we do!!! This tax return will be the first time we can put money away. AFter this year, my CC and Highlander will be paid off. Once that's paid off it frees up 500 amonth.
We own the 99 Camry and 2000 tundra outright

Pay off the vehicles!!! The mortgage is TAX DEDUCTIBLE!! The vehicles are NOT!

Going through his Financial Peace University RIGHT NOW!!!

We owe $218,000 on our mortgage
$15,500 on our truck
$8,000 on CC

We are working on it....

Just the mortgage. DH gets a bonus each year, but that always goes toward tuition for the kiddies (they're in private school).

WAAAAAAAY too much! But we're working on it.

__________________
If you need to get in touch with me, my email is teach1107910@yahoo.com.