debt

mom is 87 and I have 28yrs left on the mortgage …pay it off with the inheritance

One of the great things in life to look forward to.

death [HTML_REMOVED] taxes are the sure things in life

I carry quite a bit of debt on a 20G LOC and that is mainly from putting my wife through to her masters at UBC. The amount for tuition when getting her masters made me wonder who the "master" was.

She finished at the end of last year though and we managed to pay off the credit card since then so we are moving in the right direction finally… now we have a kid.

been slowly paying off debt now for about 7 years… a combination of a truck, some beneficial school, some school that was useless, a bad relationship desicion, and deciding to take most of a summer off work…
i could probably easily get a job in credit counselling based on life experience. i worked in a credit card collections department for about 6 months, saw and heard some horror stories during the US crash that basically scared me straight. I'm probably about a year from being paid off and plan to stay that way.

The people who are $30,000+ in debt beyond their mortgage….. good luck if you actually have intentions of paying it off. I was there… I was single for a lot of those years because other than biking, I didn't have any fun in my life.

now we have a kid.

Say hello to a huge financial drain…

130k for a masters degree. Graduated at the wrong time, jobs not to be had. Now teach high school, will owe until I die. Not really concerned about it though.

Ouch! I didn't add to my debt with my Masters; just carried my undergrad for a bit more time.

I've got a mortgage and about a roof's worth of unsecured debt. I was budgeting for windows this year and a roof next year (plus bike parts). The roof had other plans :(

Say hello to a huge financial drain…

Children: Proof that one shoulda just pulled out and splooged on her back.

DS

Here's a question for you, would you consider a 0% financing car payment as part of that debt past mortgage? Other than vehicle depreciation what makes it a bad thing?

Here's a question for you, would you consider a 0% financing car payment as part of that debt past mortgage? Other than vehicle depreciation what makes it a bad thing?

It's debt. Plain and simple.

But not all debt is equal.

Here's a question for you, would you consider a 0% financing car payment as part of that debt past mortgage? Other than vehicle depreciation what makes it a bad thing?

Im of the opinion there is no true "0%" interest. These companies are in the business of making money plain and simple. All they are doing is rolling in what they would make on interest into the overall cost of the vehicle. Makes you feel iike you got a deal and they make their money. You also get less bargaining power when doing these deals. It's like those 1.9% cash advances on your credit card; sure it's a great rate but burried deep in the fine print is usually a 1% or so "transfer fee" levied at day one. I'm not running the numbers but that effectively puts your rate above 3% over the course of the term.

RVs and other recreational vehicles like boats are like this too. How can a company seriously finance a boat over a 12 year term without any form of financial kickback? That $189/mo payment is worth a lot less 10 years after signing that deal. They roll in that value into the total cost. That is why if you walk up to many of these companies with a wad of cash they will likely take a good amount off the asking price-- they know they don't have to underwrite the item over a long period.

In answer to your question…. No it is still debt. Anything you owe on consumer goods or high depreciation items regardless of intererest rate (perceived or real) is debt.

Is it smart to save and save to pay for a 20k dollar truck when you can finance for 0%? I guess personally I say it would be justified IF you invested that money you saved to pay for the truck in the first place. I mean really the interest on your investment could be more than the 0% you're paying on the truck if you played your cards right. I guess it all depends on how you look at it.

Is it smart to save and save to pay for a 20k dollar truck when you can finance for 0%? I guess personally I say it would be justified IF you invested that money you saved to pay for the truck in the first place. I mean really the interest on your investment could be more than the 0% you're paying on the truck if you played your cards right. I guess it all depends on how you look at it.

Often times that 0% means you just pay a flat fee of "Administration Charges" up front.

Is it smart to save and save to pay for a 20k dollar truck when you can finance for 0%? I guess personally I say it would be justified IF you invested that money you saved to pay for the truck in the first place. I mean really the interest on your investment could be more than the 0% you're paying on the truck if you played your cards right. I guess it all depends on how you look at it.

"Opportunity Cost"

That about sums up this thread's tangent a la minutiae.

I carry debt. And I write it off against my taxes, and I profit because of it…

… gooooo Leverage!

See I wish I understood this better