Friday OT #1 - IOU

Discussion in 'Off-Topic' started by Angie, Jan 24, 2020.

?

What you got?

  1. $0

    33 vote(s)
    52.4%
  2. $5K

    3 vote(s)
    4.8%
  3. $10k

    11 vote(s)
    17.5%
  4. $25k

    8 vote(s)
    12.7%
  5. $50k

    8 vote(s)
    12.7%
  6. $100K+

    0 vote(s)
    0.0%
  1. Angie

    Angie Tugboats and arson.
    Staff Member SuperFanatic T2

    Mar 27, 2006
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    Thanks so much to @StevieISU23 for this first topic!

    Here's the description (I'll add a private poll):

    In relation to budgeting (New Years resolutions: lose weight and cut expenses). How much non-mortgage debt do you have? And what is your debt from? (CCs, school, cars) Are you aggressively working at it (Dave Ramsey'ing it)?
     
  2. mdk2isu

    mdk2isu Well-Known Member

    Jan 30, 2013
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    Not of this World
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    About 13-14k outside of the mortgage. Car loan, all because at the same time that we buying our house, my old car's transmission decided it was done so we had to buy a new vehicle and most of the available funds we had were earmarked for the house. Wonderful timing.
     
    • Like Like x 1
  3. BoxsterCy

    BoxsterCy Well-Known Member
    SuperFanatic

    Sep 14, 2009
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    Living the Dream
    Minnesota
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    +21,305 / 429 / -1
    Thought this was going to be how many IOU's do you have from deadbeat friends you loaned to who are likely to never pay you back. It this point I am just considering it a non-deductible charity I won't be "donating" to anymore.
     
    • Agree Agree x 4
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  4. NWICY

    NWICY Well-Known Member

    Sep 2, 2012
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    A CF investment thread, the correct answer is always pay cash for cars, houses,and whores. ;):p
     
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  5. Isualum13

    Isualum13 Well-Known Member

    Apr 27, 2018
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    In jr high, so 2004 or so, I loaned a friend $1 with the agreement he would pay me back 1.25 the next day and an extra quarter everyday he didnt pay. He still hasn't paid me. Debating on taking him to see Judge Judy.
     
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  6. mdk2isu

    mdk2isu Well-Known Member

    Jan 30, 2013
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    +3,409 / 132 / -3
    What about blow? Cash only or can that be financed? Asking for a friend.
     
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  7. NWICY

    NWICY Well-Known Member

    Sep 2, 2012
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    That was quite the loan shark rates. Didn't put the enforcer on him/her because of the friendship?
     
    • Like Like x 1
  8. NWICY

    NWICY Well-Known Member

    Sep 2, 2012
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    Depends on your relationship with your supplier.
     
    • Informative Informative x 2
  9. VeloClone

    VeloClone Well-Known Member

    Jan 19, 2010
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    Brooklyn Park, MN
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    Depending on when that was in 2004 that $1 would be worth around $1400 today.
     
    • Like Like x 1
    • Agree Agree x 1
  10. BirdOfWar

    BirdOfWar Active Member

    May 3, 2010
    863
    72
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    Male
    Central Iowa
    Ratings:
    +190 / 1 / -0
    Our only non-mortgage debt is a recent vehicle purchase. Vehicles are too damn expensive.
     
    • Agree Agree x 2
  11. BCClone

    BCClone Well-Known Member

    Sep 4, 2011
    25,489
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    Male
    North Iowa
    Ratings:
    +19,795 / 562 / -1
    Personal? None.

    Business? My loan officer likes me and they give me gifts if that says anything.
     
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  12. Isualum13

    Isualum13 Well-Known Member

    Apr 27, 2018
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    It was a way to help ensure quick repayment. It's the agreement I would make with people if I needed to borrow a few bucks too. And this was the only instance I didnt get paid.
     
    • Informative Informative x 2
  13. madguy30

    madguy30 Well-Known Member

    Nov 15, 2011
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    I got lucky with some inheritance to pay down my car debt but I've decided my next car is going to be an older model that I can get fully inspected, and pay a fuller lesser amount to get out of it what I can.

    The less running around with a dealer the better.

    [​IMG]
     
  14. BirdOfWar

    BirdOfWar Active Member

    May 3, 2010
    863
    72
    28
    Male
    Central Iowa
    Ratings:
    +190 / 1 / -0
    We'll most likely be keeping this vehicle for a long time so that is how I try to justify the cost to myself.

    The car buying process is just brutal. The extended warranty pitch made me want to just walk on the whole deal.
     
    • Like Like x 1
  15. GTO

    GTO Well-Known Member

    Mar 25, 2014
    23,427
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    Ultra Fanatic T4
    North DFW, TX
    Ratings:
    +25,330 / 518 / -5
    Whar poll option for first born son?
     
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  16. madguy30

    madguy30 Well-Known Member

    Nov 15, 2011
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    Yeah no warranty next time for me.

    ****ers.
     
    • Like Like x 1
  17. cmjh10

    cmjh10 Well-Known Member

    Dec 5, 2012
    18,139
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    Iowa Falls
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    10K left of student loans, 20K or so on truck.

    Would have had the student loans paid off if it wasn't for my car taking a crap.
     
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  18. CYdTracked

    CYdTracked Well-Known Member

    Mar 23, 2006
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    Grimes, IA
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    +3,084 / 200 / -2
    Other than the mortgage paying off the last bit of a new air conditioner we got 0% financing on last year so I don't really consider it debt when I basically just chose to pay it in interest free installments over 12 months than a lump sum all at once.

    Eventually will need to replace a vehicle and will likely have to finance some of it as our oldest car is 12 years old now but only 110k miles on it and in working order so no rush to get into car payments. Maybe when the youngest kid is out of daycare in a couple years we'll entertain it with having that money freed up for something else finally.
     
    • Like Like x 1
  19. VeloClone

    VeloClone Well-Known Member

    Jan 19, 2010
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    Brooklyn Park, MN
    Ratings:
    +19,065 / 295 / -4
    My eternal soul isn't on there either...
     
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  20. CloneinWDSM

    CloneinWDSM Well-Known Member

    Aug 9, 2013
    13,188
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    Ratings:
    +5,304 / 285 / -2
    Student loans
    Car loan

    Going to pay off 1 student loan here this weekend and would leave me with one more finally.
     
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    • Winner Winner x 1

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