I got a mazda 3 recently and it's pretty nice for $25k (was almost the same price brand new and used with 70k miles in this shitty market). I was going to go full frugal and get a Rio for $17k but the KIA theft shit gave me fud. I'd definitely recommend a compact car though
$40k left on 7 year truck loan
$25k on wife's 7 year suv loan
$380k left on $450k home
$70k on wife's student loans
$10k on credit cards that gets paid off monthly(for the rewards)
We both work and make about $230k/yr but live pretty modestly
Like $2k, but can someone please explain to me like I'm 5 years old how the average debt is not $0?
Isn't every debt someone else's assets? So why does it not average out to zero?
Is it because we're an oligarchy where most people are debt slaves to an elite oligarch class?
Wouldn't that imply that a French/Communist revolution would be beneficial to most people if it abolished these debt contracts by violently eliminating the ownership class so they can no longer asset their ownership claims? Or am I missing something?
>Wouldn't that imply that a French/Communist revolution would be beneficial to most people if it abolished these debt contracts
You don't need to be Communist to abolish debt. The ancient Greeks wiped debt away all the time whenever the populace got unruly.
Most people have mortgage/education loans/credit. Credit is cheap, and easy to get in the US. >why does it not average out to zero
Why would it average to zero if everyone has access? Do you think rich people don't use lines of credit? Lol.
There won't be a revolution because the average american is happy but likes to b***h. There's just 15% or so who want to lick a boot and have a dictator because they're moronic.
>why doesn't it average out to zero? >2 people on an island >Person A has 0 debt >Person B owes $100 debt to person A >The average debt is $50
People with no debt are 0 not a negative number.
$0 lol >got used car from craigslist and paid for it in cash back in 2014. Still use it to this day >put majority of income in retirement accounts, specifically VTSAX >live like a pauper, even though it's comfy for me >pay credit card in full every month for dem sweet point >obtained a 200k net worth at 27 through the boomer method of living below your means
I live quite modestly, and don't need much to be happy. I recently got a gf and my spending has increased as a result. It made me realize that women are a drain on time and resources tbh. Can anyone else relate? >
Wtf how is debt so common in America? I'm a leaf who grew up with a loving middle class family and have had 0 debt my entire life. I have a job and pay all my bills/expenses and have never had any issues. I went to university and graduated with a business degree. Where is burger debt coming from, their student loans??
basically 0
i'm just starting college, i live with my parents, i invest on coins from time to time with my allowance, recently made a 500 dollars with VINU for example, since i invested 2k on it recently
what about you anons
$0
Same, but that will change with a mortgage
same live with mom and don't even pay rent, put like ~1k each month into btc
$0.00
All my shit is paid off, if i need to buy a car when this one breaks i'll pay cash for a 2014+ shitbox grocery getter.
I got a mazda 3 recently and it's pretty nice for $25k (was almost the same price brand new and used with 70k miles in this shitty market). I was going to go full frugal and get a Rio for $17k but the KIA theft shit gave me fud. I'd definitely recommend a compact car though
10k due owing the government taxes
i have $150 on my creditcard from buying food yesterday, i intent to pay it off with zero interest i have autopay on if i forget to do it
100k mortage debt is nothing and can be paid within 2 years easily.
$290000 remains on my mortgage
I own my cars outright and have no other debt.
Are you me?
like 14k
$0
God bless money skelly, peace be upon him.
>money skelly
?
You have to go back.
people owe ME money ffs
99k student loans
I own my car and rent
I have a few cards that I maxed out and closed in 2021
I can no longer get any credit in the US but the banks are now holding my bags lol
$10
Like 15k across student loans and credit cards. I have 6 figures in crypto though.
> 265K Mortgage
No other debts, we put like 2% down on the house and locked in a 3% interest rate on a home. Guess we'll be here forever.
$700 on one credit card. That's it. Will be paid off later this month. Low 6 figs in crypto and about a $100 in bank and retirement account together
$40k left on 7 year truck loan
$25k on wife's 7 year suv loan
$380k left on $450k home
$70k on wife's student loans
$10k on credit cards that gets paid off monthly(for the rewards)
We both work and make about $230k/yr but live pretty modestly
Your finances say otherwise. You're not living modestly at all.
Buy used cars.
> 10K Credit Card (Paid Off Monthly)
Fricking how are you spending 10K a month lmao
>500k debt
> 475k is related to wife
Many such cases
spending money is extremely easy
thats the problem
By what metric do you live modestly? These figures prove the opposite. Stop pretending.
25k in student loans. I'm about to move back home to save money for a couple more years before my gf and I get married.
Like $2k, but can someone please explain to me like I'm 5 years old how the average debt is not $0?
Isn't every debt someone else's assets? So why does it not average out to zero?
Is it because we're an oligarchy where most people are debt slaves to an elite oligarch class?
Wouldn't that imply that a French/Communist revolution would be beneficial to most people if it abolished these debt contracts by violently eliminating the ownership class so they can no longer asset their ownership claims? Or am I missing something?
Because normalgays spend all of their money
>Wouldn't that imply that a French/Communist revolution would be beneficial to most people if it abolished these debt contracts
You don't need to be Communist to abolish debt. The ancient Greeks wiped debt away all the time whenever the populace got unruly.
Most people have mortgage/education loans/credit. Credit is cheap, and easy to get in the US.
>why does it not average out to zero
Why would it average to zero if everyone has access? Do you think rich people don't use lines of credit? Lol.
There won't be a revolution because the average american is happy but likes to b***h. There's just 15% or so who want to lick a boot and have a dictator because they're moronic.
Because we sell the debt to China, and they collect payments on like $1 trillion. It's an unsustainable system
They don't even hold 10% of US debt anon lmao.
>why doesn't it average out to zero?
>2 people on an island
>Person A has 0 debt
>Person B owes $100 debt to person A
>The average debt is $50
People with no debt are 0 not a negative number.
I can't believe this needed explaining. This is truly the dumbest board.
It’s enduring honestly. We got moron intelligence here. WAGMI!!!
Endearing** frick me.
$0. I never have any debt. If you don't have any purchasing power with cash, don't buy them (education, house, car).
Fricking poorgays.
>datamining
I owe US$29380193893 to every and each bank in the United States.
still got a year to go
shit is ridiculous
you better be a doctor
I almost thought I was looking at a mortgage.
That’s it? That’s less than two years of the average wage. I would have thought it was much MUCH higher
70,000 in credit card debt but no one will let me open more credit cards. Never paying it back btw.
bump
0 debt but I just have a car and live with my parents
essentially zero
146k left on mortgage and no other debt, 800 credit score
$0 lol
>got used car from craigslist and paid for it in cash back in 2014. Still use it to this day
>put majority of income in retirement accounts, specifically VTSAX
>live like a pauper, even though it's comfy for me
>pay credit card in full every month for dem sweet point
>obtained a 200k net worth at 27 through the boomer method of living below your means
I live quite modestly, and don't need much to be happy. I recently got a gf and my spending has increased as a result. It made me realize that women are a drain on time and resources tbh. Can anyone else relate?
>
>How much debt do you have?
about 20k to bank and 20k to binance
How can you have debt to binance
open leveraged long position
Got about a 40k EUR student loan from NL
I moved my ass to Vietnam though so they are never seeing that back
Wtf how is debt so common in America? I'm a leaf who grew up with a loving middle class family and have had 0 debt my entire life. I have a job and pay all my bills/expenses and have never had any issues. I went to university and graduated with a business degree. Where is burger debt coming from, their student loans??
leaf, we burgers are ultra consumers. we must CONSOOM.
Only about $1900 left on student loan
Probably less than 10k between medical debt and school debt.
7k.
I owe 400$ on my credit card. But I can pay it off, I have 20k in stocks, 10k in a CD and 4k in a savings account, 220$ in bank account.
about 34k. net worth ~300k.
basically 0
i'm just starting college, i live with my parents, i invest on coins from time to time with my allowance, recently made a 500 dollars with VINU for example, since i invested 2k on it recently
what about you anons
$103,470
not even memeing
If you count my mortgage I’m like 300k in debt although my house is worth a lot more than I owe so idk if you should count it.