So what do you consider the most annoying debt?


#21

Wow Kendall! You got that right and I can totally relate! I’ve done that before also! Talk about stupid!!! What were we thinking? I use to open new lines of credit just to go on vacation! Thank God I finally grew up and figured out the insanity of my decisions! Now, I actually plan for these things and $ave accordingly! NEVER GO IN DEBT FOR A VACATION!!!


#22

I can only imagine! Keep on keeping on and eventually you’ll knock them out! I’m fortunate that I never had student loan debt. Although I went wild with CC debt in my youth. NEVER AGAIN!


#23

OMG I’ve heard HORRIBLE stories about PAYDAY LOANS!!! I hope you’re out from under those by now!!! I hear they’re like 350% interest! Is this true? Good luck to you!


#24

At least you got a great education and are hopefully earning a great wage. If not, I’m praying for you! I know student loan debt is a huge burden on families today. Keep on keeping on! Lots of luck!


#25

I totally hear you and understand! Maybe you can cut some costs elsewhere to help offset the mortgage? Mortgages are a wealth killer for sure but at least you have a great place to live. Anyway, my advice is to cut the cord so to speak on unneeded expenses and/or earn more money. YOU CAN DO THIS but it takes having an open mind and putting each of your little green employees EXACTLY where they need to be each and every month!


#26

Car debt SUCKS ASS! I currently drive a 2000 Chrysler Concorde. It has 230,000 miles on it. It has several issues (driver side window doesn’t work, no AC) but guess what? It starts and runs the best! So what if I’m a little hot when driving it LOL…my parents didn’t have AC either and they survived! We are spoiled people. Anyway point being… I HAVE NO CAR PAYMENT!!! And it’s an amazing feeling. I could care less about “keeping up with the Joneses” because I invest that car payment each and every month. That will literally add up to THOUSANDS of dollars! I don’t know your situation but I truly hope you can get rid of that ANNOYING car debt and start investing it instead. Keep me posted of your progress and situation. I have a gut feeling about YOU :slight_smile:


#27

I’m so sorry! At least you have a great education to fall back on to pay those debts! Maybe cut the cord on some meaningless stuff in order to double up?


#28

CC debt SUCKS!! For that matter, ANY DEBT SUCKS and is a WEALTH KILLER! Hang in there and pay that shit off ASAP! The quicker you pay one off, the quicker you can move to the next annoying little problem! I totally recommend the STACK METHOD of debt pay off. You can do this!!


#29

Wow! So sorry! At least you’re making a great wage! Maybe cut some unneeded bullshit expenses?


#30

Agreed!!! Although you’re doing FANTASTIC THINGS!!! I can’t even imagine making that much money!!! Congratulations to you!! What do you do?


#31

I’ve personally never used a payday loan. But it is the most annoying!


#32

Debt is just a tool. It can be used well or poorly, just like a screwdriver. Just because most people only use debt to buy worthless crap or finance things that are not assets does not make debt bad. Just today, I have already accumulated an additional $50k in debt (purely coincidence, not that I add $50k in debt on a typical day). And for that $50k in debt, I’m controlling another $200k in cash flowing assets. It’s costing me ~$2350/yr in interest (4.75%) to make around $11k/yr (~20%), plus I get to deduct the interest on the debt and get to write off the majority of earnings with depreciation :slight_smile: I love love love debt.

Embrace debt, the wealthy do: http://www.businessinsider.com/mark-zuckerburg-is-so-rich-he-lives-in-his-6-million-house-for-free-2012-7


#33

Good for you!! LOL


#34

Any debt where you look back and say “Why’d I take that on?”. I’ve hard student loan debt, mortgage debt, car loan debt, line of credit debt - which I didn’t mind because it was taken on consciously, and I appreciated what the debt was for. Then I’ve had debt where a year later, still paying it off, when you think “Really, I thought this was a good idea at the time?”


#35

We don’t really want to cut our travel expenses and we don’t really pay any extra to our mortgage because it’s only at 3% - what we are doing right now is saving for another rental property - it means another mortgage to take on, but should hopefully pay for itself in the long term.


#36

Very true! Rental property is another animal! Always follow your GUT about these decisions because THE GUT IS NEVER WRONG!! If your GUT says one thing but your MIND says another you may need to rethink things. :slight_smile:


#37

I second the mortgage debt because it’s a slow annoying poke…poke…poke…for the next 30 years of your life. Imagine someone following you around for 30 years so they can poke your face once a day every day.


#38

Any debt that results in me having to pay interest.


#39

Great point! I literally hate mortgage debt!


#40

You speak the TRUTH! All debt is pretty damn ANNOYING! Lol