Financial Thread... How many of you have zero debt? - GoFuckYourself.com

Shap · 07-31-2006, 09:17 AM

Most of my friends live a lifestyle they can't afford on their salary and go into debt to support it. Maxing out credit cards, taking out leases etc etc. I was wondering how many GFyers live the same way.

So how many of you (mortgages not included) have zero debt?

Nicky · 07-31-2006, 09:19 AM

I have 0 debt

CamsLord · 07-31-2006, 09:20 AM

thankfully i never got into the whole credit card thing

polish_aristocrat · 07-31-2006, 09:21 AM

0 debt here for sure

JFK · 07-31-2006, 09:22 AM

I have very little, a couple of cc's thats it. Learned my lesson yrs ago

mpahlca · 07-31-2006, 09:22 AM

LOL I have 0 debt, but I have plenty of payments :P

Phoenix · 07-31-2006, 09:23 AM

not including mortgage?

i am almost done paying off my student loans...not a bad debt to have though i still feel

Marcus · 07-31-2006, 09:24 AM

Quote:

Not including mortgages do you own anything that isn't 100% paid off.(CCs, Cars, Etc)

- Yes i do. It's how i live the way I live.
- Hell no. My Credit Cards and everything I own are 100% paid for.

That wording is too confusing.
which one is debt and which one is no debt?

selena · 07-31-2006, 09:24 AM

Not at zero yet, but I'm working on it. I followed the advice of a book I read, built up a small emergency fund, then started attacking debt.

If it all pans out as it should, I can have everything, including the mortgage and $20K in student load debt paid off in under 9 years.

I'm just now in the 2nd year of a 30 year mortgage, so 9 years isn't bad.

Shap · 07-31-2006, 09:25 AM

I have alot of banker friends and they all tell me the average balance owed on american CCs is absolutely shocking. I believe the average is $8000. Is that sick or what? That is per CC not including how many CCs people have.

Roald · 07-31-2006, 09:25 AM

only my study loan and starting in october my mortgage

Roald · 07-31-2006, 09:26 AM

Quote:

Originally Posted by shap

I have alot of banker friends and they all tell me the average balance owed on american CCs is absolutely shocking. I believe the average is $8000. Is that sick or what? That is per CC not including how many CCs people have.

LOL 8k?!?!? Thats nothing spent spent spent (through freeones.com that is)!!!!!!!!!!!!!

detoxed · 07-31-2006, 09:26 AM

I dont have zero debt, but I have the ability to pay it all off in a short amount of time.

Tdog · 07-31-2006, 09:27 AM

I messed up my credit so bad that I cant even get into debt if I wanted to.

polish_aristocrat · 07-31-2006, 09:28 AM

Quote:

Originally Posted by Marcus

That wording is too confusing.
which one is debt and which one is no debt?

thats what Im always saying

thread titles on GFY should be not more complicated than the language used by the American president

if you make it more complicated then even the elite GFY'ers have problems understanding it

Shap · 07-31-2006, 09:29 AM

Quote:

Originally Posted by Marcus

That wording is too confusing.
which one is debt and which one is no debt?

LOL too much coffee this morning.
I meant 1 yes i have debt LOL

Furious_Female · 07-31-2006, 09:33 AM

90% of Americans live off of credit and beyond their means. It's the new American way. Look around you, very few people, including teenagers, have crappy old cars, old clothes and eat home every day. True poverty doesn't exist in the US, only denial does.

We pay cash for everything, mainly because we don't have extensive credit lines and it truly sucks, because we have to pay more for everything, just because we don't have that addictive luxury.

the alchemist · 07-31-2006, 09:33 AM

No debt whatsoever... Fool me once shame on them, fool me twice?

RayBonga · 07-31-2006, 09:34 AM

I use my CC alot but I always make sure I pay the full ammount at the end of the month (before they charge any interests).

Does your question include mortgage as debt?

Is so I guess I'm in debt but I have an asset (the house) that is worth significantly more than the debt.

Rochard · 07-31-2006, 09:36 AM

In today's society you can purchase nearly anything with credit? Want to buy a car for $50k? No problem, get a loan.

For the most part I don't do credit. I own two houses, one I rent, and one I live in. I have a motorcycle that's paid for, and a truck that I just paid off a few weeks ago (two years ahead of time), and I just purchased a car and own $10k on that (which will be paid off in two or three months).

I also have an account with Kay Jewelers, but that's only because when I buy stuff for my wife I spend more than my ATM card allows me to spend in one day (which is $1k). This account is always paid off monthly.

Kimo · 07-31-2006, 09:36 AM

just a small car note and student loans

Mr. Blue · 07-31-2006, 09:36 AM

I paid off my mortgage when I was 30...nice sized house on Long Island

I wouldn't say I have 0 debt, but it's pretty close to 0...I firmly believe in investing in myself though and if I see an opportunity that I feel is right for me, I will get a loan, because I know I'm a hard worker and know that it'll payoff for me.

seeric · 07-31-2006, 09:37 AM

i have zero debt for about 7 years now.

its awesome. i keep one credit card for emergencies. all i have each month is my internet, electricity, and rent oh and my 200 dollar cable tv bill.

polish_aristocrat · 07-31-2006, 09:37 AM

Quote:

Originally Posted by shap

So how many of you (mortgages not included) have zero debt?

Quote:

Originally Posted by RayBonga

Does your question include mortgage as debt?

Marcus · 07-31-2006, 09:45 AM

Quote:

Originally Posted by shap

I have alot of banker friends and they all tell me the average balance owed on american CCs is absolutely shocking. I believe the average is $8000. Is that sick or what? That is per CC not including how many CCs people have.

Unexpected things happen.
People get sick and fall behind in enormous medical bills that are impossible to pay and lose their homes because of it. People lose their jobs. Someone dies and now the family is left with no provider. Insurance goes up, taxes go up, day care is expensive, home prices trippled in the past 8 years in some places,
Everything is crazy expensive.

Its not because everyone is running to Neiman Marcus and blowing thousands on clothes, some people use their cc's just to get by and pay bills they need to pay.

gecko · 07-31-2006, 09:52 AM

Got no debts at all.

woj · 07-31-2006, 09:57 AM

debt is for suckers... unless you use for investments...

Sosa · 07-31-2006, 10:00 AM

I was debt free up until about 4 months ago and had to get a loan for my new house.

Juilan · 07-31-2006, 10:03 AM

I still have a car loan but paid of my 6 credit cards in the last year and have no more of that

woj · 07-31-2006, 10:05 AM

Quote:

Originally Posted by Marcus

Unexpected things happen.
People get sick and fall behind in enormous medical bills that are impossible to pay and lose their homes because of it. People lose their jobs. Someone dies and now the family is left with no provider. Insurance goes up, taxes go up, day care is expensive, home prices trippled in the past 8 years in some places,
Everything is crazy expensive.

Its not because everyone is running to Neiman Marcus and blowing thousands on clothes, some people use their cc's just to get by and pay bills they need to pay.

Getting yourself into debt because something unexpected comes up 95% of the time is only due to poor planning... most people think for example -> "why pay $XXX per month on insurance, when I can put that towards a new car instead..."

leedsfan · 07-31-2006, 10:08 AM

Quote:

Originally Posted by A1R3K

i have zero debt for about 7 years now.

its awesome. i keep one credit card for emergencies. all i have each month is my internet, electricity, and rent oh and my 200 dollar cable tv bill.

ditto. I keep a credit card with high limit which i take when i travel. That way if i ever get my wallet stolen I have the spare card in my safe place, to turn to if needed. I can always pay for whatever needs i have and can sustain myself for weeks if need be.

Lee · 07-31-2006, 10:09 AM

I was a partner in a business that fucked up before I got into this industry so I have debt from that which I am paying off slowly. I could pay it off a hell of a lot quicker but I choose not.

If I dont include that then I am pretty much debt free excluding the mortgage which Ive just reduced from a 23 year term to 11 years although I will pay it off in 5 or 6. I dont really use credit anymore and only have one credit card that has a tiny limit on it and is paid off each month.

Marcus · 07-31-2006, 10:12 AM

Quote:

Originally Posted by woj

"why pay $XXX per month on insurance, when I can put that towards a new car instead..."

more like $X,XXX per month for insurance for a family

woj · 07-31-2006, 10:27 AM

Quote:

Originally Posted by Marcus

more like $X,XXX per month for insurance for a family

I'm not sure I agree it's that much per month for a family, but either way, you can pay for it now, or later when something comes up... you can't really cheat the system... and it's probably easier to come up with $x,xxx now than later come up with $xx,xxx+ when something comes up...

Atticus · 07-31-2006, 10:30 AM

For the people who brag about paying off a mortgage in record time. As long as you have a decent to good rate, a mortgage is considered good debt.
You're borrowing money, but you're getting a tax advantage and can write off the interest. Since its an asset that's appreciating over time. Much better off to use the funds you are paying off the mortgage with on other investments.

DaLord · 07-31-2006, 10:34 AM

Zero debt

BluewireAngie · 07-31-2006, 10:35 AM

CC's are fully paid monthly.
No mortgage.

I'm just paying for my life insurance quarterly.

sicone · 07-31-2006, 10:37 AM

My credit card gets paid off every month, for the most part I only pay for my hosting accts with it. And I owe about 8k on my truck still. Other than that I am debt free

Chris · 07-31-2006, 10:38 AM

debt free

Shankz · 07-31-2006, 10:43 AM

I have zero debt, but not that many assets so I'm not boasting.

Niklas · 07-31-2006, 10:44 AM

I have 0 debt.. but I also have a pretty cheap lifestyle for the money I make. I'd only loan money for a house or a car. I dont buy a new tv or travel unless the money is in my account. Lucky for me the money is usually there

crockett · 07-31-2006, 10:45 AM

Other than a car zero debit.. normally I'd never buy a car I couldn't pay cash for but this one was more about credit.

Crazy Carlos · 07-31-2006, 10:46 AM

i have no debts just a mortgage on my second house so that would not really count. i have no credit cards all i use is my visa debt card.

brand0n · 07-31-2006, 10:51 AM

lol

mortgages, credit cards, car payments, im thinking about adding a new boat payment next year...

keep trading shit in man..

Jakke PNG · 07-31-2006, 11:15 AM

No mortgage, no unpaid creditcards, no unpaid business invoices, no studentloans, nothing bought on partial-payments or anything else.
The money in the bank is mine, all mine.

Drake · 07-31-2006, 12:29 PM

Aside from mortgage I have no debt right now. My student loan was the largest non-mortgage debt I've assumed.

Manowar · 07-31-2006, 12:49 PM

No debt, nada

Antonio · 07-31-2006, 12:54 PM

zero debt here too

s9ann0 · 07-31-2006, 12:57 PM

nah I don't have any debts, people owe me money!

ffmihai · 07-31-2006, 12:58 PM

no debts
however having debts is not so bad if for exmple you make an investment and take from the bank!

View Poll Results: Not including mortgages do you own anything that isn't 100% paid off.(CCs, Cars, Etc)
Yes i do. It's how i live the way I live.	31	32.63%
Hell no. My Credit Cards and everything I own are 100% paid for.	64	67.37%
Voters: 95. You may not vote on this poll

07-31-2006, 09:17 AM	#1
Shap Confirmed User Industry Role: Join Date: May 2001 Posts: 8,313	Financial Thread... How many of you have zero debt? Most of my friends live a lifestyle they can't afford on their salary and go into debt to support it. Maxing out credit cards, taking out leases etc etc. I was wondering how many GFyers live the same way. So how many of you (mortgages not included) have zero debt?

07-31-2006, 09:19 AM	#2
Nicky Judge Jury and Executioner Industry Role: Join Date: Mar 2003 Location: Sweden Posts: 30,069	I have 0 debt __________________ gfynicky @ gmail.com

07-31-2006, 09:20 AM	#3
CamsLord Confirmed User Join Date: Jun 2006 Posts: 3,663	thankfully i never got into the whole credit card thing __________________ sig for sale - pornpicz(at)gmail.com

07-31-2006, 09:21 AM	#4
polish_aristocrat Too lazy to set a custom title Join Date: Jul 2002 Posts: 40,377	0 debt here for sure __________________ I don't use ICQ anymore.

07-31-2006, 09:22 AM	#5
JFK FUBAR the ORIGINATOR Industry Role: Join Date: Jan 2002 Location: FUBARLAND Posts: 67,374	I have very little, a couple of cc's thats it. Learned my lesson yrs ago __________________ FUBAR Webmasters - The FUBAR Times - FUBAR Webmasters Mobile - FUBARTV.XXX For promo opps contact jfk at fubarwebmasters dot com

07-31-2006, 09:22 AM	#6
mpahlca Confirmed User Industry Role: Join Date: Feb 2004 Location: Vancouver Posts: 1,821	LOL I have 0 debt, but I have plenty of payments :P __________________ I could give two shits wether you read this sig or not.

07-31-2006, 09:23 AM	#7
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	not including mortgage? i am almost done paying off my student loans...not a bad debt to have though i still feel __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

07-31-2006, 09:24 AM	#9
selena Confirmed User Join Date: Aug 2004 Location: On The Edge Posts: 7,994	Not at zero yet, but I'm working on it. I followed the advice of a book I read, built up a small emergency fund, then started attacking debt. If it all pans out as it should, I can have everything, including the mortgage and $20K in student load debt paid off in under 9 years. I'm just now in the 2nd year of a 30 year mortgage, so 9 years isn't bad. __________________ ~ Doer of Things at MetArtMoney Where Flawless Beauty Meets Art ~The MetArt Network ~ selena.delgado9

07-31-2006, 09:25 AM	#10
Shap Confirmed User Industry Role: Join Date: May 2001 Posts: 8,313	I have alot of banker friends and they all tell me the average balance owed on american CCs is absolutely shocking. I believe the average is $8000. Is that sick or what? That is per CC not including how many CCs people have.

07-31-2006, 09:25 AM	#11
Roald SecretFriends.com Industry Role: Join Date: May 2001 Location: IMC Headquarters Posts: 27,884	only my study loan and starting in october my mortgage __________________ WE ARE BUYING PAY SITES! CONTACT ME ClubSweethearts \| ManUpFilms \| SinfulXXX \| HOT * AdultPrime * HOT Paying webmasters since 1996! Contact: r.riepen @ sansylgroup.com \| telegram: roaldr

07-31-2006, 09:26 AM	#13
detoxed vip member Join Date: Jan 2003 Posts: 17,798	I dont have zero debt, but I have the ability to pay it all off in a short amount of time.

07-31-2006, 09:27 AM	#14
Tdog Confirmed User Join Date: May 2006 Posts: 2,707	I messed up my credit so bad that I cant even get into debt if I wanted to.

07-31-2006, 09:33 AM	#17
Furious_Female Confirmed User Industry Role: Join Date: Oct 2002 Location: Upstate, New York Posts: 8,187	90% of Americans live off of credit and beyond their means. It's the new American way. Look around you, very few people, including teenagers, have crappy old cars, old clothes and eat home every day. True poverty doesn't exist in the US, only denial does. We pay cash for everything, mainly because we don't have extensive credit lines and it truly sucks, because we have to pay more for everything, just because we don't have that addictive luxury. __________________ Skype: j3nn.com ICQ 160370494 My current favorite high-converting sponsor: CrakRevenue

07-31-2006, 09:33 AM	#18
the alchemist Confirmed User Industry Role: Join Date: Dec 2004 Location: Montreal, Canada Posts: 3,271	No debt whatsoever... Fool me once shame on them, fool me twice? __________________ 264 349 400

07-31-2006, 09:34 AM	#19
RayBonga too cool for highschool Join Date: Nov 2005 Location: East side, West side, Worldwide! Posts: 12,164	I use my CC alot but I always make sure I pay the full ammount at the end of the month (before they charge any interests). Does your question include mortgage as debt? Is so I guess I'm in debt but I have an asset (the house) that is worth significantly more than the debt.

07-31-2006, 09:36 AM	#20
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,681	In today's society you can purchase nearly anything with credit? Want to buy a car for $50k? No problem, get a loan. For the most part I don't do credit. I own two houses, one I rent, and one I live in. I have a motorcycle that's paid for, and a truck that I just paid off a few weeks ago (two years ahead of time), and I just purchased a car and own $10k on that (which will be paid off in two or three months). I also have an account with Kay Jewelers, but that's only because when I buy stuff for my wife I spend more than my ATM card allows me to spend in one day (which is $1k). This account is always paid off monthly. __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

07-31-2006, 09:36 AM	#21
Kimo ... Join Date: Jan 2006 Location: Maryland ICQ:87038677 Posts: 11,542	just a small car note and student loans __________________ ...

07-31-2006, 09:36 AM	#22
Mr. Blue Confirmed User Join Date: Jan 2005 Location: New York Posts: 536	I paid off my mortgage when I was 30...nice sized house on Long Island I wouldn't say I have 0 debt, but it's pretty close to 0...I firmly believe in investing in myself though and if I see an opportunity that I feel is right for me, I will get a loan, because I know I'm a hard worker and know that it'll payoff for me. __________________ See Sig...oh wait.

07-31-2006, 09:37 AM	#23
seeric .......... Industry Role: Join Date: Aug 2004 Location: .......... Posts: 41,917	i have zero debt for about 7 years now. its awesome. i keep one credit card for emergencies. all i have each month is my internet, electricity, and rent oh and my 200 dollar cable tv bill.

07-31-2006, 09:52 AM	#26
gecko ****** Join Date: Jun 2002 Posts: 21,846	Got no debts at all. __________________ [email protected]

07-31-2006, 09:57 AM	#27
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	debt is for suckers... unless you use for investments... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

07-31-2006, 10:00 AM	#28
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	I was debt free up until about 4 months ago and had to get a loan for my new house.

07-31-2006, 10:03 AM	#29
Juilan Sultan of Swing Join Date: Feb 2004 Location: XXXodus Posts: 15,141	I still have a car loan but paid of my 6 credit cards in the last year and have no more of that __________________ My Best Converting VOD Sponsor \|

07-31-2006, 10:09 AM	#32
Lee Confirmed User Join Date: Aug 2002 Location: Kernow Posts: 2,977	I was a partner in a business that fucked up before I got into this industry so I have debt from that which I am paying off slowly. I could pay it off a hell of a lot quicker but I choose not. If I dont include that then I am pretty much debt free excluding the mortgage which Ive just reduced from a 23 year term to 11 years although I will pay it off in 5 or 6. I dont really use credit anymore and only have one credit card that has a tiny limit on it and is paid off each month.

07-31-2006, 10:30 AM	#35
Atticus Confirmed User Industry Role: Join Date: Dec 2004 Location: Las Vegas Posts: 1,051	For the people who brag about paying off a mortgage in record time. As long as you have a decent to good rate, a mortgage is considered good debt. You're borrowing money, but you're getting a tax advantage and can write off the interest. Since its an asset that's appreciating over time. Much better off to use the funds you are paying off the mortgage with on other investments.

07-31-2006, 10:34 AM	#36
DaLord Confirmed User Join Date: Aug 2001 Location: Denmark Posts: 3,318	Zero debt Last edited by DaLord; 07-31-2006 at 10:36 AM..

07-31-2006, 10:35 AM	#37
BluewireAngie Confirmed User Join Date: Apr 2006 Location: Makati Posts: 4,643	CC's are fully paid monthly. No mortgage. I'm just paying for my life insurance quarterly. __________________ Web Design & Programming - Creative Mainstream Style Web Design and Programming PORTFOLIO Custom Cartoons - High Quality Cartoon Studio PORTFOLIO Offshore Staff - Save Money & Grow Faster With Dedicated Offshore Staff PRICING ICQ:282-072-512

07-31-2006, 10:37 AM	#38
sicone Retired Industry Role: Join Date: Jan 2004 Location: Sac Posts: 18,453	My credit card gets paid off every month, for the most part I only pay for my hosting accts with it. And I owe about 8k on my truck still. Other than that I am debt free __________________

07-31-2006, 10:38 AM	#39
Chris Too lazy to set a custom title Industry Role: Join Date: May 2003 Location: icq: 71462500 Skype: Jupzchris Posts: 27,880	debt free __________________ [email protected]

07-31-2006, 10:43 AM	#40
Shankz Confirmed User Join Date: Nov 2005 Posts: 275	I have zero debt, but not that many assets so I'm not boasting.

07-31-2006, 10:44 AM	#41
Niklas Confirmed User Join Date: Oct 2005 Location: Toronto Posts: 352	I have 0 debt.. but I also have a pretty cheap lifestyle for the money I make. I'd only loan money for a house or a car. I dont buy a new tv or travel unless the money is in my account. Lucky for me the money is usually there __________________ Need big boob traffic? Contact me I make money with JuggCash

07-31-2006, 10:45 AM	#42
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	Other than a car zero debit.. normally I'd never buy a car I couldn't pay cash for but this one was more about credit. __________________ In November, you can vote for America's next president or its first dictator.

07-31-2006, 10:46 AM	#43
Crazy Carlos Confirmed User Join Date: Jul 2006 Location: Crazy Payout$ Posts: 699	i have no debts just a mortgage on my second house so that would not really count. i have no credit cards all i use is my visa debt card. __________________ YOU DON'T WANT TO MISS CRAZY PAYOUTS V1.5 LAUNCHING SOON WITH $4000 GIVEAWAY

07-31-2006, 10:51 AM	#44
brand0n been very busy Join Date: Nov 2002 Location: the queen city Posts: 26,983	lol mortgages, credit cards, car payments, im thinking about adding a new boat payment next year... keep trading shit in man.. __________________ want to buy this spot for cheap? it is of course for sale. long term deals are always the best bet. brand0n/ at/ a o l dot commies.