I had like $7k of CC debt at 8% interest and then I was offered a deal with my bank to refinance my auto at a 2% rate and I could borrow as much as the car was worth which was $8k more then my current balance on the car... so I took the maximum amount of the loan and paid off the CC with it. Its all about getting the high interest loans off the books and convert them to new loans with lower rates if possible.
0. Just made the final payment on what was about $15k in student loans since graduating 6 years ago. Also bought and paid off a car within that time. Now saving for a house.
Im amazed at how many of you have 0 debt outside of a mortgage..... Banks and leanders alike must hate you guys.
About $3000 on credit cards and roughly $5000 on another personal loan. Plan on having all that eliminated by early next year. Will be debt free (minus home mortgage) for first time ever unless one my two cars completely dies (which is possible, they are both 2001).
Around 15k student loans, 6,600 credit cards. I cut up all of my credit cards and I can't wait to be debt free.
I'm still a college student living at home so not too many responsibilities. I don't have a lot of money but I paid in cash (2300) for my car and spend wisely. No need to get myself in debt like getting a new car and making payments. I can do that later when I have a career.
I use a credit card for points that I pay off so I keep a balance showing on my credit report. Using a budgeting software has done wonders to keep me from having any credit card debt at any point. It also helps significantly with saving, not just for long term but for projects.
13K (wife's student Loans) Should be paid off in a year. No car loans (both are paid for). 100K Mortgage. Should be paid off in about 10yrs, probably sooner.
