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Debt Calculators

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There are great resources on the internet that can help you make financial decisions about your debt. I have provided links to a few calculators that I have found very useful.

If you haven’t found them already, they are in the right left sidebar. If you happen to find one on the internet and would like to share, leave a comment and I will add them to the list 🙂

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The Debt Looks Better on the Other Side

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I’ve heard this before, and I wonder how true it is. When you make more money, you have more debt.

First thinking about that, I ask myself “How could that be??”

But when I think about it a little bit more, I think I can see how that can happen. When you make more money, you get used to a certain lifestyle. That lifestyle can mean accumulating debt in order to maintain it constantly. Just because you make $300,000 a year, it doesn’t necessarily mean you can afford a $50,000 car without taking out a loan.

Now, if Bill Gates has debt, I would be SUPER surprised 🙂

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My Mortgage Debt

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After looking at my debt, you may be wondering why I have such a low mortgage debt.

It may be hard to believe, but my home only cost $35,500. This value reflects the general real estate trend of the area. Most homes are very affordable where I live compared to big cities. If I was living somewhere else with my income, I would not have been able to purchase a house.

When I applied for mortgages, even obtaining one for $35,500 was a challenge due to my debt. But I was working with a wonderful woman who tried her hardest to get my family into a home. And she was able to do it.

Technorati Tags: mortgage, mortgage+debt, real+estate

Debt is a Funny Little Word, Isn’t It?

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Ever look at a word and start thinking you spelled it wrong? It’s almost like you were looking at it so long that it’s not even a word anymore.

Yes, I know…I’m going pretty deep here. But see what I mean???

DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT, DEBT

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My Student Loan Debt

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I have a decent-sized student loan debt. Not quite $10,000 but close. My husband, on the other hand, has almost $30,000 in school loan debt.

At the time, it seemed like a good idea. Take out a loan to help pay for books and such in addition to your schooling. You don’t really think about what you are going to have to pay once you get out of school. What’s another grand in debt, right? That was my attitude.

I often wonder what it would have been like if I was able to graduate from college debt-free. There is actually someone I know who is trying his hardest to make sure his daughter graduates from college without debt. He is practically putting himself in debt to try to make a nice transition for his daughter into the real world.

You know how I feel about debt, and I will say often that I wonder what it would be like if I didn’t ever have it. But deep down, I think having that mountain of debt when I ventured into the real world has helped me grow up ALOT. While others were partying, I was working trying to pay all the bills. I think I turned into a responsible adult as an indirect result of my debt. But, enough of that. I still don’t like debt 🙂

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How Many Credit Cards?

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I have 5 credit cards.

Why so many you may ask?

Well, I started with one, got a large balance on it then got another to do a balance transfer. Needless to say…I didn’t pay off them off and I kept getting more cards to try to play the balance transfer game. Before I knew it I had 5 credit cards and almost all of them are maxed out.

I have 3 issued by one Credit Card Company, 1 issued by another and 1 issued by another. I believe I have a credit card from most of the popular companies. For some reason they wanted me. Why, I’m not sure. And I STILL get credit card applications in the mail saying I am pre-approved.

If they only knew! 🙂

Technorati Tags: credit+card, credit, debt, credit+card+balance, credit+card+debt

My Debt Started With A Candy Bar!

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As a freshman in college, there was a table set up in one of the common areas of campus. Sitting at the table were the largest and yummiest looking candy bars displayed ever so nicely. Now, to a hungry freshman right before an hour long lecture in Chemistry – those candy bars looked awefully good.

They weren’t selling them though, – in order to get one you had to sign up for a credit card. Hmmm…get a credit card and get a candy bar? Seemed like a good idea. I signed up, got my king size Milky Way, and off to Chemistry I went.

A few weeks later I got something in the mail. I even forgot about signing up for the credit card. I open it up and I now have $500 that I didn’t have two weeks earlier. I looked at the card, put it in my wallet and realized that I now had alot of money that I could spend.

What a naive freshman I was. Naive about credit cards that is.

And that is the story of how my debt got started with a candy bar.

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