Financial Thread... How many of you have zero debt? - Page 2 - GoFuckYourself.com

woj · 07-31-2006, 01:01 PM

50.........

Vitasoy · 07-31-2006, 01:04 PM

I have no debt at all

Yngwie · 07-31-2006, 01:07 PM

I have roughly $10k in debt not counting the $17k I owe the government for taxes.

Yngwie · 07-31-2006, 01:09 PM

I have to stop putting myself in debt. what I owe may not seem like a lot, but with the drop in my income this debt is killer, I'm working on fixing that though.

dissipate · 07-31-2006, 01:11 PM

I have student loans that I havn't completly paid off, but that's about it.

slapass · 07-31-2006, 01:37 PM

Quote:

Originally Posted by Atticus

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.

Guys making what Shap does, do not get to deduct their mtge interest. The equation then becomes can you make more on the money after tax then the mtge rate. Harder to do.

Theo · 07-31-2006, 01:39 PM

no loans, no CCs, no mortgages

BAKO · 07-31-2006, 01:46 PM

I paid everything this year

no debts

WiredGuy · 07-31-2006, 02:14 PM

100% debt free for both me and my business.
WG

BradShaw · 07-31-2006, 02:15 PM

I have little "debt". But I have millions in mortages, etc while my other $ is working for me. Smart $.

Doctor Dre · 07-31-2006, 02:18 PM

Your pool is kinda missleading. Had to read it twice

teomaxxx · 07-31-2006, 02:46 PM

around 100k USD loan. but its not a big problem for me, as i have invested it properly, and i am close to make a 200k back on this loan.

$5 submissions · 07-31-2006, 02:52 PM

I have ZERO debt. I cleaned up all debt and tore up all credit cards (except 1 for online purchases) when I left for the Philippines in 2003. Why? Because I had around 80K gradschool/prof school debt after I graduated. It sucks having such a big nasty cloud hanging over you. So thanks to the adult webmaster biz, I started clearing out debt with those fat ARS checks.

Debt free, IMHO, is the way to go. That way you completely OWN all your assets. Of course, there are SOME GOOD REASONS to go into debt see: http://webmasterlabor.com/articles/credit.html Regardless, I like the freedom of having no debt. Unless I can buy something with cash, I consider it unaffordable.

Next step: Getting more insurance (life and health) as a way to protect assets.

Odie · 07-31-2006, 03:13 PM

no debts here, just saving as much and investing as much as Ican.

Rule #1 ALWAYS keep at least 6 months worth cash as a reserve for emergencies.

FreeHugeMovies · 07-31-2006, 03:16 PM

My car and my house are my only debts.

DatingGold · 07-31-2006, 03:17 PM

Quote:

Originally Posted by Rochard

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.

I never knew you were married.

Bigfuck · 07-31-2006, 03:23 PM

No credit for me I dont like to loan money from banks
unless it is realestate investing

Peaches · 07-31-2006, 03:23 PM

Zero here. I have a mortgage and a leased car but I have the cash in the bank to pay both off - just using it to buy more RE instead. I have about 10+ credit cards for the rewards but they are PIF every month.

beemk · 07-31-2006, 03:26 PM

the only debt i have is my credit card which gets paid off once a month. i have a mortgage for about 65% of the house im moving into is worth, and i own my house im living in now and a rental house free and clear. my rule is if you cant afford to buy something cash, dont buy it... with the exception of investments.

biftek · 07-31-2006, 05:23 PM

have zero debt
don't believe in credit , i believe that if i can't pay for it by cash then i don't want the item , i have a debit card linked to the visa network which only allows me to spend the cash that is in my bank account

don't have a mortgage , renting works out to be much cheaper and money saved can be invested into other interests

avalanche · 07-31-2006, 05:43 PM

Zero debt right now, but leveraging credit got me here. Bought houses, paid them off, bought more, now paid more off....it's a never ending cycle....Plus being out of debt completely is really unAmerican!

Thurbs · 07-31-2006, 05:52 PM

debtfree baby .. had to sell my 4runner when I left school to pay off the balance, was worth drivin an old benz around for a couple months to be debt free. guess I owe Baauw for showing me the light and gettin me out to P.I.

Monique Niccole · 07-31-2006, 05:55 PM

I have 5 figures in student loan debt. One credit card with 0 balance. But I am getting ready to buy a new car.

Rochard · 07-31-2006, 05:55 PM

Quote:

Originally Posted by DatingGold

I never knew you were married.

I've been married for seven years as of last weekend, been with her for thirteen years now. She comes to shows and all.

This is her on the right getting felt up in Mexico....

betsy · 07-31-2006, 05:55 PM

cc's paid for, car paid for, but plenty of mortgage on the condo.

High Plains Drifter · 07-31-2006, 05:59 PM

I've got roughly $60k in debt and my goal is to make it to $100k by the end of the year. Debt is a good gauge for just how much fun I had that year. Its not literal debt since I've got a couple hundred K in savings, but it is sitting on a credit card.

*edit* Purposely flippant response... if I reach 100k debt by the end of the year, I'll probably consider chewing on the end of a double-barrel.

Quotealex · 07-31-2006, 05:59 PM

The interest on my credit card is at 8%, 7% for my credit margin and 5.2% on my multiplex. Why would I want to pay it off when the interest are so low and I can make more money investing it elsewhere!

High Plains Drifter · 07-31-2006, 06:06 PM

I've also got another 8K on a credit card at 30%.... how smart is that?

reynold · 07-31-2006, 06:10 PM

Zero debt here.

huey · 07-31-2006, 07:23 PM

Back in Black

Thomas N · 07-31-2006, 07:29 PM

This is kind of like asking a bunch of guys how much they bench press. Most people here are going to say they have zero debt, and most of them are probably lying. lol

Thomas N · 07-31-2006, 07:38 PM

Quote:

Originally Posted by slapass

Guys making what Shap does, do not get to deduct their mtge interest. The equation then becomes can you make more on the money after tax then the mtge rate. Harder to do.

That's wild speculation at best. Guys "making what Shap does" may well use corporate structures and keep their personal incomes at a level that allows maximum deductions, tax-sheltered retirement savings, and other benefits.

Quotealex · 08-01-2006, 04:01 AM

Quote:

Originally Posted by High Plains Drifter

I've also got another 8K on a credit card at 30%.... how smart is that?

Wow, they let them charge that much? I think the maximum here is 18% for people with a bad history credit.

SomeCreep · 08-01-2006, 04:10 AM

There shouldnt even be such a thing as "credit cards", only "debit cards." Other than for investing, spending money one does not have is just plain stupid.

madawgz · 08-01-2006, 04:19 AM

i like to spend beyond my means

but i dont have much debt

Bike · 08-01-2006, 04:25 AM

no debts at all

paid all my cars by myself, no loans
paid all plasmas, a/v stuff etc by myself, no loans at all

only a small mortgage but could easily pay that off right now

Sveindt Beindt · 08-01-2006, 04:42 AM

My Credit Cards and everything I own are 100% paid for.

free4porn · 08-01-2006, 05:12 AM

only student loan

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, 01:01 PM	#51
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	50......... __________________ 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, 01:04 PM	#52
Vitasoy GFY HALL OF FAME DAMMIT!!! Join Date: Oct 2003 Posts: 58,202	I have no debt at all __________________ [email protected]

07-31-2006, 01:07 PM	#53
Yngwie I am an Alien from space Industry Role: Join Date: May 2003 Location: Ontario, Canada Posts: 11,118	I have roughly $10k in debt not counting the $17k I owe the government for taxes. __________________ ICQ: 16544251 - Skype: gator37 @ eastlink.ca - email: yngwie @ isys.ca

07-31-2006, 01:09 PM	#54
Yngwie I am an Alien from space Industry Role: Join Date: May 2003 Location: Ontario, Canada Posts: 11,118	I have to stop putting myself in debt. what I owe may not seem like a lot, but with the drop in my income this debt is killer, I'm working on fixing that though. __________________ ICQ: 16544251 - Skype: gator37 @ eastlink.ca - email: yngwie @ isys.ca

07-31-2006, 01:11 PM	#55
dissipate The Dirty Frenchman Industry Role: Join Date: Nov 2005 Location: Lost Angeles Posts: 8,904	I have student loans that I havn't completly paid off, but that's about it.

07-31-2006, 01:39 PM	#57
Theo HAL 9000 Industry Role: Join Date: May 2001 Posts: 34,515	no loans, no CCs, no mortgages

07-31-2006, 01:46 PM	#58
BAKO Etology.com Industry Role: Join Date: Jul 2005 Location: Hollywood CA Posts: 18,407	I paid everything this year no debts __________________ Telegram: @bakokaye

07-31-2006, 02:14 PM	#59
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,487	100% debt free for both me and my business. WG __________________ I play with Google.

07-31-2006, 02:15 PM	#60
BradShaw Confirmed User Join Date: Oct 2001 Location: KB's trailer Posts: 7,840	I have little "debt". But I have millions in mortages, etc while my other $ is working for me. Smart $. __________________ Sig too big http://www.gofuckyourself.com/gfy_faqs.html Want to use a large banner in your sig??? Contact Eric about getting on as an advertiser - eric AT adult.com

07-31-2006, 02:46 PM	#62
teomaxxx Confirmed User Join Date: May 2003 Posts: 2,734	around 100k USD loan. but its not a big problem for me, as i have invested it properly, and i am close to make a 200k back on this loan.

07-31-2006, 02:52 PM	#63
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	I have ZERO debt. I cleaned up all debt and tore up all credit cards (except 1 for online purchases) when I left for the Philippines in 2003. Why? Because I had around 80K gradschool/prof school debt after I graduated. It sucks having such a big nasty cloud hanging over you. So thanks to the adult webmaster biz, I started clearing out debt with those fat ARS checks. Debt free, IMHO, is the way to go. That way you completely OWN all your assets. Of course, there are SOME GOOD REASONS to go into debt see: http://webmasterlabor.com/articles/credit.html Regardless, I like the freedom of having no debt. Unless I can buy something with cash, I consider it unaffordable. Next step: Getting more insurance (life and health) as a way to protect assets. __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

07-31-2006, 03:13 PM	#64
Odie Confirmed User Join Date: Apr 2003 Location: The WATER BABY! Posts: 7,040	no debts here, just saving as much and investing as much as Ican. Rule #1 ALWAYS keep at least 6 months worth cash as a reserve for emergencies. __________________ Odie [email protected] Are you Mobile???? MMACanada ICQ # 166208354 See Who I Am At AdultWhosWho.com!

07-31-2006, 03:16 PM	#65
FreeHugeMovies Too lazy to set a custom title Join Date: Dec 2001 Location: Charlotte, NC Posts: 14,137	My car and my house are my only debts.

07-31-2006, 03:23 PM	#67
Bigfuck Confirmed User Join Date: Mar 2004 Location: In a fucking big house Posts: 4,961	No credit for me I dont like to loan money from banks unless it is realestate investing __________________

07-31-2006, 03:23 PM	#68
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	Zero here. I have a mortgage and a leased car but I have the cash in the bank to pay both off - just using it to buy more RE instead. I have about 10+ credit cards for the rewards but they are PIF every month.

07-31-2006, 03:26 PM	#69
beemk CLICK HERE Industry Role: Join Date: Jan 2002 Posts: 20,829	the only debt i have is my credit card which gets paid off once a month. i have a mortgage for about 65% of the house im moving into is worth, and i own my house im living in now and a rental house free and clear. my rule is if you cant afford to buy something cash, dont buy it... with the exception of investments. __________________ I host with Vacares

07-31-2006, 05:23 PM	#70
biftek So Fucking Banned Join Date: Jan 2005 Location: Victoria, Australia Posts: 1,030	have zero debt don't believe in credit , i believe that if i can't pay for it by cash then i don't want the item , i have a debit card linked to the visa network which only allows me to spend the cash that is in my bank account don't have a mortgage , renting works out to be much cheaper and money saved can be invested into other interests

07-31-2006, 05:43 PM	#71
avalanche Confirmed User Industry Role: Join Date: Feb 2005 Location: SoCal Posts: 1,922	Zero debt right now, but leveraging credit got me here. Bought houses, paid them off, bought more, now paid more off....it's a never ending cycle....Plus being out of debt completely is really unAmerican! __________________ Avalanche CherryPimps - Daily Pornstars, LIVE and more!

07-31-2006, 05:52 PM	#72
Thurbs The Thrilla in Manila Join Date: Sep 2004 Location: Thurbs' Lagoon, Christmas Island Posts: 4,785	debtfree baby .. had to sell my 4runner when I left school to pay off the balance, was worth drivin an old benz around for a couple months to be debt free. guess I owe Baauw for showing me the light and gettin me out to P.I.

07-31-2006, 05:55 PM	#73
Monique Niccole Confirmed User Industry Role: Join Date: Nov 2002 Location: San Francisco Posts: 5,653	I have 5 figures in student loan debt. One credit card with 0 balance. But I am getting ready to buy a new car.

07-31-2006, 05:55 PM	#75
betsy Confirmed User Join Date: Mar 2005 Location: Brooklyn, yo! Posts: 625	cc's paid for, car paid for, but plenty of mortgage on the condo. __________________ www.phoxglove.com YIM: phoxgloveent ICQ: 237171474 AIM: phoxglove

07-31-2006, 05:59 PM	#76
High Plains Drifter Confirmed User Join Date: Jun 2005 Location: ♠ ♣ ♥ Posts: 2,341	I've got roughly $60k in debt and my goal is to make it to $100k by the end of the year. Debt is a good gauge for just how much fun I had that year. Its not literal debt since I've got a couple hundred K in savings, but it is sitting on a credit card. edit Purposely flippant response... if I reach 100k debt by the end of the year, I'll probably consider chewing on the end of a double-barrel. Last edited by High Plains Drifter; 07-31-2006 at 06:01 PM..

07-31-2006, 05:59 PM	#77
Quotealex Confirmed User Join Date: Sep 2001 Location: The Global Digerati Village Posts: 6,265	The interest on my credit card is at 8%, 7% for my credit margin and 5.2% on my multiplex. Why would I want to pay it off when the interest are so low and I can make more money investing it elsewhere!

07-31-2006, 06:06 PM	#78
High Plains Drifter Confirmed User Join Date: Jun 2005 Location: ♠ ♣ ♥ Posts: 2,341	I've also got another 8K on a credit card at 30%.... how smart is that?

07-31-2006, 06:10 PM	#79
reynold Too lazy to set a custom title Join Date: Oct 2002 Location: Global Traveler Posts: 51,271	Zero debt here.

07-31-2006, 07:23 PM	#80
huey Confirmed User Join Date: Apr 2003 Location: vancouver Posts: 3,847	Back in Black __________________ opinions are like assholes................. "They aren't after me, they are AFTER YOU! Im just in their way" -D.J. Trump

07-31-2006, 07:29 PM	#81
Thomas N Confirmed User Join Date: Aug 2001 Posts: 973	This is kind of like asking a bunch of guys how much they bench press. Most people here are going to say they have zero debt, and most of them are probably lying. lol

08-01-2006, 04:10 AM	#84
SomeCreep :glugglug Join Date: Mar 2003 Location: Where the Wild Things Are Posts: 26,118	There shouldnt even be such a thing as "credit cards", only "debit cards." Other than for investing, spending money one does not have is just plain stupid. __________________ Webair Hosting I use and recommend Webair for hosting.

08-01-2006, 04:19 AM	#85
madawgz 8.8.8.8 Industry Role: Join Date: Mar 2006 Location: Noordermarkt Posts: 30,509	i like to spend beyond my means but i dont have much debt __________________ TAEMDLRMSKRJIXMRLSMRJ.

08-01-2006, 04:25 AM	#86
Bike Confirmed User Join Date: Jul 2004 Posts: 1,363	no debts at all paid all my cars by myself, no loans paid all plasmas, a/v stuff etc by myself, no loans at all only a small mortgage but could easily pay that off right now

08-01-2006, 04:42 AM	#87
Sveindt Beindt Confirmed User Join Date: Mar 2005 Location: Kopenhagen Denmark Posts: 1,853	My Credit Cards and everything I own are 100% paid for. __________________ Nylonfeet Bondage Vintage Magazine Pinup Teen

08-01-2006, 05:12 AM	#88
free4porn Confirmed User Join Date: Jun 2005 Posts: 4,654	only student loan __________________ Switch To Fling Now! I'm on 1:201 paid signups sending little traffic! Make $$$ Free Porn