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Are you COMPLETELY debt-free?

UserPost

11:44 am
September 29, 2013


Jasaglimbeni

Member

posts 28

I am debt-free except for the mortgage, but I am not against having a mortgage if one can perform better than the interest rate and add the extra money into investment such as mutual funds or quality stocks. If one is too nervous to invest then paying off the mortgage is fine with me, but make sure you have a cushion of cash just in case there is a job loss.

 

regards,

Joe

3:49 pm
September 30, 2013


Eve of Reduction

Buffalo, NY

Member

posts 46

I am completely debt-free. My husband and I both had private college student loans, mortgage and car – all paid off by age 34 (basically what my book is about). We have had one car for all but 3 months of our marriage. This helped get our other debts paid faster. I'm also a serial upcycler – taking obsolete things and crafting them into what I need.

Cristin Frank
Founder of Eve of Reduction - Where Reducers are Producers - Reduction Rebels, let's save money by being clever, resourceful and creative. Before we open our wallets, we open our minds.
Author of Living Simple, Free & Happy: How to Simplify, Declutter Your Home, and Reduce Stress, Debt & Waste
Like us on Facebook and Pinterest
Twitter: @cristinfrank

6:28 pm
October 6, 2013


bryce

Member

posts 40

I've never borrowed for anything but the house. I bought my first house for $180k with $50k down. I eventually sold that house for $200k and had $120k after paying off the loan. I bought our current house for $350k. I put $140k down. My wife and I were married shortly after. My wife and I paid off the $210k mortgage in 9 years. My wife came into our marriage with something like $15k in student loans. That's not bad considering she had earned two engineering degrees (mechanical and aeronautical). We paid her loans off within a month after we were married.

We typically save 35-40% of our pretax income.

5:08 pm
August 13, 2014


James Martin

townsville,qld

Member

posts 38

Yes, I am debt free now. I close my $20K debt in 15 months.

9:34 pm
August 14, 2014


OneCentAtatime

Florida, USA

Member

posts 1778

I was but took on mortgage now, I am in debt after living debt free for all the years.

SB

One Cent At A Time  (Yakezie Member Site)

 

http://twitter.com/onlyonecent

onecentatatime@gmail.com

Finance Product Reviews 

 

https://twitter.com/FPRReviews

11:47 am
August 27, 2014


Aldo @ Million Dollar Ninja

New Member

posts 1

I only have about $8,000 in student loans left, but have been able to pay off almost $20,000 in debt so far.  Hopefully by the end of April 2015 I'll be debt free… until I buy a house that is.

1:31 pm
September 3, 2014


Invest Four More

Greeley CO

Member

posts 9

I just crossed over the 2 million dollars of debt mark.  I have 11 rentals and 10 fix and flips.  I have no problem with debt if it makes more money, which my debt does.  

Real Estate investing, Fix and Flips, Rental Properties and Becoming a Real Estate Agent

http://www.investfourmore.com

3:21 am
September 4, 2014


Derek@LifeAndMyFinances

Member

posts 1298

I'm almost there! I'll be completely debt free by December, 2014. :)

Derek @ Life And My Finances 

Website: http://www.LifeAndMyFinances.com

Twitter: http://twitter.com/LAMFinances

Email: derek@lifeandmyfinances.com

6:05 am
September 5, 2014


Financial Samurai

Admin

posts 1803

Not even close! Too many mortgages.

But next week, I'll start being more intentional.

Regards,

 

Sam

Financial Samurai - Helping you achieve financial freedom sooner, rather than later.

Yakezie Network Founder 

4:47 pm
September 5, 2014


krantcents

Member

posts 909

First, I would like to distinguish consumer debt from mortgage debt. I will have one car loan ($12k) paid off in less than 24 months. In 3 years, I will sell that car in order to pay off the new car. My mortgage ($40k) will be paid off in less than 3 years. This will coincide with my retirement from teaching.

krantcents  – Making Sense of Money

Website:   http://www.krantcents.com

Fan Page:  http://www.facebook.com/krantcents

Follow me onTwitter:  @krantcents

RSS feed: krantcents

7:06 pm
September 5, 2014


Valien

Guest

Been debt free except a mortgage for 5+ years now. It's an amazing feeling. 

5:39 am
September 6, 2014


OneCentAtatime

Florida, USA

Member

posts 1778

Invest Four More said:

I just crossed over the 2 million dollars of debt mark.  I have 11 rentals and 10 fix and flips.  I have no problem with debt if it makes more money, which my debt does.  

You are my ideal in that case. give us some tips on flipping houses

SB

One Cent At A Time  (Yakezie Member Site)

 

http://twitter.com/onlyonecent

onecentatatime@gmail.com

Finance Product Reviews 

 

https://twitter.com/FPRReviews

7:34 pm
September 7, 2014


TESOL Lifestyle

United States

Member

posts 13

We have been debt-free since January 2014. It's the first time in my adult life. Amazing feeling. 

TESOL Lifestyle – Savers Not Spenders 

Website:   http://www.tesolifestyle.com

Fan Page:  http://www.facebook.com/tesolifestyle

Follow me on Twitter:  tesolifestyle@tesolifestyle.com

4:05 am
September 8, 2014


Derek@LifeAndMyFinances

Member

posts 1298

TESOL Lifestyle said:

We have been debt-free since January 2014. It's the first time in my adult life. Amazing feeling. 

Congrats! That is amazing! I hope to be completely debt free by the end of this year (paying down the mortgage aggressively now) and can't wait to have that free feeling! It's cool to know that there are other people that have actually done it.

Derek @ Life And My Finances 

Website: http://www.LifeAndMyFinances.com

Twitter: http://twitter.com/LAMFinances

Email: derek@lifeandmyfinances.com

4:14 pm
September 10, 2014


FamilyMoneyValues

Member

posts 812

My spouse and I have a slogan "Debt Free since '93!"

 

That is when we paid off our mortgage.  

 

Our journey started from zero (thank heavens, we didn't have to surface from underwater due to college debt!).  We have always paid of credit card charges each month – we just did without if we couldn't afford to pay cash or pay it off.

 

We had car loans for the first 10 years of marriage, but kept our cars a long time and when we had paid off the loan, we started saving towards the next car so we could pay cash.

 

Once I started working we made faster progress on paying down the mortgage and finally paid it off when even while paying for our oldest son to attend college.

 

Debt free is GREAT!

FamilyMoneyValues
Blog: http:blog.familymoneyvalues.com
Facebook: http://www.facebook.com/Family…..neyValues/  

12:21 pm
September 11, 2014


Invest Four More

Greeley CO

Member

posts 9

TESOL Lifestyle said:

We have been debt-free since January 2014. It's the first time in my adult life. Amazing feeling. 

OneCentAtatime said:

Invest Four More said:

I just crossed over the 2 million dollars of debt mark.  I have 11 rentals and 10 fix and flips.  I have no problem with debt if it makes more money, which my debt does.  

You are my ideal in that case. give us some tips on flipping houses

Did you see my guest blog on Financial Samurai?  Also check out my blog I talk a lot about fix and flipping 

Real Estate investing, Fix and Flips, Rental Properties and Becoming a Real Estate Agent

http://www.investfourmore.com

10:42 pm
September 16, 2014


moneystepper

Member

posts 182

I am "bad debt" free. 

 

I'm very much a believer in taking on manageable debt for leverage purposes.

 

Therefore, I have mortgages on rental property and I maintain around £10k on 0% balance transfer credit cards (which works out at less than 1% interest per year if the initial balance transfer fee is split across the term). 

 

Other than that, my only other debt in my life came from student loans, which I paid down 2 years after leaving university (8 years ago now). Laugh

7:57 am
September 24, 2014


brian_debtdiscipline

NY

Member

posts 113

Just completed paying off $109K. Feels great! On to building wealth.

8:24 am
October 4, 2014


TESOL Lifestyle

United States

Member

posts 13

Derek@LifeAndMyFinances said:

TESOL Lifestyle said:

We have been debt-free since January 2014. It's the first time in my adult life. Amazing feeling. 

Congrats! That is amazing! I hope to be completely debt free by the end of this year (paying down the mortgage aggressively now) and can't wait to have that free feeling! It's cool to know that there are other people that have actually done it.

Should probably have mentioned that we have never had a mortgage. At least not yet. Good luck with the rest of your journey!

TESOL Lifestyle – Savers Not Spenders 

Website:   http://www.tesolifestyle.com

Fan Page:  http://www.facebook.com/tesolifestyle

Follow me on Twitter:  tesolifestyle@tesolifestyle.com

8:29 am
October 4, 2014


TESOL Lifestyle

United States

Member

posts 13

Invest Four More said:

TESOL Lifestyle said:

We have been debt-free since January 2014. It's the first time in my adult life. Amazing feeling. 

OneCentAtatime said:

Invest Four More said:

I just crossed over the 2 million dollars of debt mark.  I have 11 rentals and 10 fix and flips.  I have no problem with debt if it makes more money, which my debt does.  

You are my ideal in that case. give us some tips on flipping houses

Did you see my guest blog on Financial Samurai?  Also check out my blog I talk a lot about fix and flipping 

Even though we have never had a mortgage, we always have a niggling in the back of our minds to start doing rental properties. I checked out your blog and will def check out your guest blog on Financial Samurai. I think I will fly through the articles. Looks so informative! Thanks!

TESOL Lifestyle – Savers Not Spenders 

Website:   http://www.tesolifestyle.com

Fan Page:  http://www.facebook.com/tesolifestyle

Follow me on Twitter:  tesolifestyle@tesolifestyle.com

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