How much do you Owe?

[Serge]

$600 bucks split between a couple friends. I tend to run out of cash a lot while I'm shopping.

[metaabuse]

$600 bucks split between a couple friends. I tend to run out of cash a lot while I'm shopping.

So rough, it always happens when I go shopping too, I try to never ask and try to decline if they offer.

I owe a friend $10 or $15 dollars for a Modeselektor album she spotted me on and around $260 to my mom for some stuff from Seven New York. I have well enough sitting next to me on the desk right now though, just a matter of seeing people first.

[Holla Its Marc]

http://www.swarthmore.edu/SocSci/bdorsey1/41docs/52-fra.html

That was a great read, It really made me think about how I've been living my life and wanting great things; In reality, all those nice things will one day make me broke.

[cchen]

bingo.+123

[cchen]

Some people myself included chose to make payments every month, so when you graduate you won't have to pay as much. I believe it's the better way to handle it.

Not really. Depends on your income situation, since interest payments on student loans are [generally] tax-deductible. If you aren't making much money and don't owe Uncle Sam much in taxes, you're wasting the potential tax benefit = wasting money.

[jet]

how are you gonna build credit?

hahaa

exactly

hahaa

[Shorty Long]

loans for my "worthless" college education --> $125,000

come on powerball!!!!!

[retrored]

im curious. why would you get a condo if you owe 100k?

I don't know how to answer this question, but after some introspection I guess it was so I could fuck more bitches. LIFE IS SHORT, FICO CAN SUCK A DICK.

[hollaforadolla]

im curious. why would you get a condo if you owe 100k?

money management. with an interest rate like a student loans, you might as well invest the money in some mutual fund which has a higher return rate than paying off all your loans right away.

[poly800rock]

I pay off my cc (just one) every month to ZERO. I hate paying interest so I pay off everything right away. The only reason why I use my credit card is to accumulate points so I can get good rewards...LOL. Otherwise, I pay everything in cash. I know alot of people who are in debt because they don't know how to manage their finances. I know how to control myself when it comes to spending. I can manage NOT to buy anything in a year...(except of course for basic necessites like food and shit like that). I have this concept that people shouldn't buy anything that they cannot afford. I always make sure that I SAVE first before I start spending here and there...I've learned from other people's mistakes. And my parents taught me how to save money. My friends always ask me for advice on how to manage finances...I guess that's why I'm in the financing industry....LOL.

doesn't this accumulate zero credit though?

[notesee]

yeah I don't have a credit card either. I get money from the parents since I can't work with a student visa here. If I want to buy nice things, I save up and make sacrifices here and there.

I've got the same no CC deal going on .. which has it's negatives.

For example, getting credit checked when trying to rent a a new place .. and not having much proof of being reliable when it comes to payments.

[stuntastic]

I need to ask Kiya... :X

[twistedtrees]

doesn't this accumulate zero credit though?

I've heard this as well. Whether it's true or not it pisses me off because it is just a way for the CC companies to get money. They probably tell people that so they carry a balance & collect interest. It sucks also because people who pay their bill every month deserve better credit ratings than those that carry a balance. I only use my card for gas (rebates) and internet transactions.

But damn, a lot of you on here are making me feel more comfortable with the fact that I'm taking out so much money to go back to school. When it's all over, I'll be well over the 100k mark. Scary as shit. Also, student loans (at least in the US) are one of the only loans that don't go away even if you declare bankruptcy. The only way to get out of them is death, or permanent physical/mental incapacitation.

[Shorty Long]

yeah, i'll end up living in a trailer, but i'll have that ivy league degree

[genius215]

$27,000 school loans.

$200.00 credit card debt

and the venture to end all ventures an engagement ring i just made my first payment on

$3,000

Long live debt!

[kiefer]

i owe $40 on my cell phone bill which ive been too lazy to pay off

i also spent like $75 on a daft punk ticket

right now i probably have $500 in cash total...

that $75 is easily the best money you've ever spent... trust me, i was at the LA show.

[jayrock]

all things considered, I'm probably about $20k in debt, mostly student loans

[moondog]

lets just say i owe about a rirawin closet worth to my university.

[kakaro]

0

i dont buy what i can't afford

amen, brother(s)

[onemancult]

uh let me think here...

$350 on one credit card (cost of hotel room for recent trip)

$100 on one credit card (nice dinner)

$25,000 school loans

considering most of my friends owe something like 50G's+, i think i'm fine.

and as for calculating debt, really, are you people saying that you owe these

amounts and don't immediately have the funds to pay it off? i may owe some

money on the credit cards, but i have more than enough money to pay it off

this very minute.

[Tiranis]

I've heard this as well. Whether it's true or not it pisses me off because it is just a way for the CC companies to get money. They probably tell people that so they carry a balance & collect interest. It sucks also because people who pay their bill every month deserve better credit ratings than those that carry a balance. I only use my card for gas (rebates) and internet transactions.

Blah, blah, blah... sorry, but I love when people talk about stuff they have no idea about.

My mother pays off her credit card every month, she has no debt. She also has a mortgage and pays some bills, that's about it. She's got credit rating around 800 and she's only been in Canada for 3 years, so it will still grow.

[sidneylo]

I need to ask Kiya... :X

I think the San Francisco crew has a running bet of how much you owe. I put mine down for $600. I think I'm pretty close...

[notesee]

I need to ask Kiya... :X

How about you do a couple favors for me .. and I'll make that debt vanish.

[drapygo]

$700, ugh...

[djork]

around 1500 between best buy & barneys.

[bangbangbang]

Check out some of the nasty tactics credit card companies use on unsuspecting consumers (eg. shredding up your payment cheques so they're "late", in order to up your interest rates).

Two docs about credit card abuse: "In Debt We Trust": http://www.creditcardnation.com/

and "Maxed Out":

http://www.maxedoutmovie.com/

Reading material

"Strapped: Why America's 20- and 30-somethings can't get ahead":

http://www.strappedthebook.com/

[lowrider]

$0.00 (finally paid off my student loans last year)

And no, I haven't had any monetary support from anyone since I was 17. I don't live at home and I own my car out right. I still rent though but plan to buy a condo next year.

[cchen]

Check out some of the nasty tactics credit card companies use on unsuspecting consumers (eg. shredding up your payment cheques so they're "late", in order to up your interest rates).

Two docs about credit card abuse: "In Debt We Trust": http://www.creditcardnation.com/

and "Maxed Out":

http://www.maxedoutmovie.com/

Reading material

"Strapped: Why America's 20- and 30-somethings can't get ahead":

http://www.strappedthebook.com/

Nice job spreading propoganda... the reason why america's 20 and 30 somethings can't get ahead? Laziness and stupidity.

[MiniW]

$27,000 school loans.

$200.00 credit card debt

and the venture to end all ventures an engagement ring i just made my first payment on

$3,000

Long live debt!

congrats on the ring, i was there myself not too long ago. hope she says yes. (j/k)

[mr. X]

if you have to borrow for it, you don't need it!