Friday OT #1 - IOU

[Angie]

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)?

 

[mdk2isu]

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.

 

[BoxsterCy]

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.

 

[NWICY]

A CF investment thread, the correct answer is always pay cash for cars, houses,and whores.

 

[Isualum13]

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.

 

[mdk2isu]

A CF investment thread, the correct answer is always pay cash for cars, houses,and whores.

What about blow? Cash only or can that be financed? Asking for a friend.

 

[NWICY]

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.

That was quite the loan shark rates. Didn't put the enforcer on him/her because of the friendship?

 

[NWICY]

What about blow? Cash only or can that be financed? Asking for a friend.

Depends on your relationship with your supplier.

 

[VeloClone]

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.

Depending on when that was in 2004 that $1 would be worth around $1400 today.

 

[BirdOfWar]

Our only non-mortgage debt is a recent vehicle purchase. Vehicles are too damn expensive.

 

[BCClone]

Personal? None.

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

 

[Isualum13]

That was quite the loan shark rates. Didn't put the enforcer on him/her because of the friendship?

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.

 

[madguy30]

Our only non-mortgage debt is a recent vehicle purchase. Vehicles are too damn expensive.

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.

 

[BirdOfWar]

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.

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.

 

[GTO]

Whar poll option for first born son?

 

[madguy30]

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.

Yeah no warranty next time for me.

****ers.

 

[cmjh10]

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.

 

[CYdTracked]

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.

 

[VeloClone]

Whar poll option for first born son?

My eternal soul isn't on there either...

 

[CloneinWDSM]

Student loans
Car loan

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