How "poor" are you?

PretzelCorps

Registered Member
#1
To counter-act the happy 'how "rich" are you?' thread, witness the depressing 'how "poor" are you?' thread!!

Now that you've posted how much money you have sitting around, guesstimate how much of it actually belongs to you:


It doesn't have to be a perfect calculation, but how much debt do you have? (this includes lease, financing, loans, mortgage, credit cards, anything)

Right now I'm sporting $3,000 on my credit card for my parents (rough summer for the company) --> The monthly interest payments cover any rent I might incur while staying with them, until they can pay me back.

Other than that, nothing else! :D
 

Lemonv1

Registered Member
#3
I know this sort of contradicts me saying I don't talk about my bank balance in the other thread, but I can safely say I am in no debt whatsoever.
I intend to NEVER use credit for anything I can't afford.
If that makes my life a bit worse off than some people, so be it.

EDIT: This includes student loans. Yes that's the main reason for me not getting a degree
 
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Swiftstrike

Registered Member
#4
I have student loans and no credit card debt.

I have a car payment but its nearly paid off nothing burdensome or anything.

Im in a pretty good situation atm.
 

Envy

Band Nerd ♫
#6
I actually own no money at the moment.

But it's Christmas break, I live with my parents, and don't work, so that shouldn't be too much of a surprise.
 

AeonFlux

I am the edge!
#8
Hmmmm...between student loans and a car loan, I'm not doing so great :lol: I've made some big changes in my life to start saving money, so hopefully I can get all of this paid off in the next few years....

I'd give an estimation of how much debt I have, but that's just too depressing to think about!
 

LadyPinky

scientia potestas est
#9
I really have no debt at the moment. Plenty of money in my bank account. Live with the rents still. Although my car does need a new muffler and probably other stuff to. So that will put a dent in my account. Trying to get a job over my winter break.
 

Bananas

Endangered Species
#10
PretzelCorps said:
It doesn't have to be a perfect calculation, but how much debt do you have?
Student loans = about £7k at present
have a further £5k lined up for 2009-10.

Thats all I owe at present. I'll need a morgtage in probably about 5-6 years but thats all I intend to borrow.

Lemonv1 said:
This includes student loans. Yes that's the main reason for me not getting a degree
You serious! getting a degree is worth going into debt for, thats if you see it as a debt in the first place, I'd call it an investment, the average graduate will earn an extra 20% more to their life salary.

On top of this a student loan is such a good deal if you are ever in a position to be offered one you'd be foolish not to take it. The APR on a student loan is lower than an ISA, another words it is of better value to have a student loan than it is to have any personal savings. (eg: take loan put in an ISA & make a profit!)

Finally you only ever pay a student loan back once you can afford to pay it back and what you pay back is relative to earnings, they really are win win win situations.
 
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