Hi, I put this poll as anonymous just to have a small online sample which will give everyone a drop of how things are right now in the economy. Please be honest as this will help everyone if the poll is accurate. I've been reading up and trying to educate myself with "good debt" v. "bad debt" and welcome all comments.
Why isn't this a public poll? Don't you want to see what we have in the bank and in investments? Weenie! ;-)- And yes, I voted.
I think this thread should be locked and deleted immediately. I'm not even being sarcastic; this is positively nobody's business.
which is why the poll is anonymous, if you don't want to reveal your selection, then you don't have to vote
You cannot select two different options, so how do you say that you have a mortgage, but also have savings?
Bad poll- it doesn't work for us either. We've got $26,000 in my wifes studen't loans - that I begged her not to take, about $1k in miscellaneous medical, dental, and a couple of store cards, mostly wifes again - but we'll have that paid off in the next 2 months. Mainly its the student loans that are hurting us. We've got $1,000 in an emergency funds, and about $55,000 in 403B's. as soon as the $1k is paid, we'll triple the student loan payment. No car loans, and the mortgage is just under $110,000 on a $150K house with a 15yr loan.
Sometimes Mortgage are good, sometimes not so much. There is no simple answer. Do you not pay rent if you do not pay mortgage?
If you have a low interest rate, put enough down, and didn't overpay, mortgage can be extremely good debt. I'm saving tons of money in the long run versus paying rent right now. Best investment I ever made, really. Now, if you overbought and trapped yourself with a crappy rate, then yeah, bad debt.
$$ in savings, no student debt (product of public education and Pell Grants), credit cards paid in full every month. currently leasing two new cars with the wife appx $500 per month combined. (put the $$ from selling the two old cars in savings so it's like we aren't paying for them until the 2nd year of the lease begins)
