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We net about $50K a year or about $4K a month. $593/mo is going toward CC debt (paying off this October, hallelujah!). Two car payments total about $700/mo. Mortgage (including taxes and ins.) is $985/mo. So about 57% of our income is going toward debt. Ouch....
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I'm just starting Dave Ramsey path, but with my plan, putting 1k/month on cc bills, I should be clean in a year. Then will start on getting out from under car, then college/retirement. You all seem to be debt free which is weird that you even bother with this site.Comment
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I didn't see that many 100% debt free people in this thread? Maybe a couple?Originally posted by hachja03 View Post
Anyway, that's like asking a skinny person why they bother to go to the gym.
I've personally never borrowed money for anything but my mortgage, and was raised with extraordinarily good financial habits, but I have learned a TON here. Once debt is paid, there is retirement, kids' college, future to save for. Staying out of debt takes a fair amount of work as well. I've been working at that my whole life - it has never been "easy."
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I average about 4k a month, 3k credit card(pay in full) and 1k mortgage.Comment
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My wife takes care of the credit card payment. And it takes 25% of our salary for a month combined. Pretty bad huh? 10 months more to pay and I'm hoping we can make it!Comment
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hachja03....
I kind of equate this site to AA for alcoholics ......or Weight Watchers for Overweight People....
Its nice to see people that have been there before and can relate, who are working their way through it, day by day.....
Wierd correlation.....but close....IMHOComment
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I think it depends on how much debt you are in? i went and got advice from a debt advisor and I pay $750 a month (not taking into consideration fuel and groceries) its hard but effective
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