Rypien37 Posted September 7, 2012 Share Posted September 7, 2012 Zero. Own my condo. No student loans. No car payment. Actually saved up a nice chunk of money already. I don't understand debt other than mortgages. The woman in the OP's post says she has XXXXX amount of debt and then in the next sentence talks about Christmas being crazy and having 5 kids. if you have 5 kids, spend money like an idiot on Christams and have a low income; you deserve to be in debt. You're an idiot. Everybody just wants to live over there means. Same with the idiots I hear complaining about living costs in DT Vancouver being to high for the average Joe. Hello! The rent didn't jump overnight. It's been trending upwards for like a decade. If you wanted to live in a 3000 dollar a month condo and have a nice car you should have went to school and got an education/job that allows you to live DT. I don't want to hear about some idiot who got his grade 11, ended up being a security guard bitching about not being able to live DT. you aren't allowed. That's life. It comes down to people not living in reality and understanding the world they live in. Be more cautious of your situation. no education and barely making payments? Don't have kids. If you can't afford it - Don't buy/spend it. if you want it, work for it and buy it. It's a fairly simple idea. Cliffs: Hate poor people. Link to comment Share on other sites More sharing options...
Offensive Threat Posted September 7, 2012 Share Posted September 7, 2012 About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return. Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet. For those talking about how real estate isnt a decent investment right now I hear ya. i bought originally in 1998. A few years before prices took off at about 25% a year from 200 to 2008. yeah, my house more than tripled in value. I sold and moved into a more expensive place I wouldnt have been able to dream of before I had the original purchase pay off so well. If I was starting out now I might hold off a couple years due to uncertainty of future price fluctuations in the lower mainland. But if your spending under 300k, say for a new townhouse in Surrey/Delta and it was my first home the current hew home buyers tax credit is a sweet $10k tax bonus to help the decision to buy before it expires march 31st 2013. Link to comment Share on other sites More sharing options...
SterlingArcher Posted September 7, 2012 Share Posted September 7, 2012 Anyone know anything about Mutual Funds? Now that I am debt free, I will have about $500 bi weekly to spare. No idea where to really start. High interest saving accounts and TFSA accounts just don't really seem to bring any real return. Link to comment Share on other sites More sharing options...
لني Posted September 7, 2012 Share Posted September 7, 2012 Anyone know anything about Mutual Funds? Now that I am debt free, I will have about $500 bi weekly to spare. No idea where to really start. High interest saving accounts and TFSA accounts just don't really seem to bring any real return. Link to comment Share on other sites More sharing options...
لني Posted September 7, 2012 Share Posted September 7, 2012 Anyone know anything about Mutual Funds? Now that I am debt free, I will have about $500 bi weekly to spare. No idea where to really start. High interest saving accounts and TFSA accounts just don't really seem to bring any real return. Link to comment Share on other sites More sharing options...
surtur Posted September 7, 2012 Share Posted September 7, 2012 sad fact is many people will end there lives before they end there debt. Link to comment Share on other sites More sharing options...
Mase_Raymond_21 Posted September 7, 2012 Share Posted September 7, 2012 Right when I saw the thread title, I knew he was talking about debts. What were you thinking of buddy? Link to comment Share on other sites More sharing options...
Mainly Mattias Posted September 7, 2012 Author Share Posted September 7, 2012 About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return. Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet. For those talking about how real estate isnt a decent investment right now I hear ya. i bought originally in 1998. A few years before prices took off at about 25% a year from 200 to 2008. yeah, my house more than tripled in value. I sold and moved into a more expensive place I wouldnt have been able to dream of before I had the original purchase pay off so well. If I was starting out now I might hold off a couple years due to uncertainty of future price fluctuations in the lower mainland. But if your spending under 300k, say for a new townhouse in Surrey/Delta and it was my first home the current hew home buyers tax credit is a sweet $10k tax bonus to help the decision to buy before it expires march 31st 2013. Link to comment Share on other sites More sharing options...
لني Posted September 7, 2012 Share Posted September 7, 2012 About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return. Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet. For those talking about how real estate isnt a decent investment right now I hear ya. i bought originally in 1998. A few years before prices took off at about 25% a year from 200 to 2008. yeah, my house more than tripled in value. I sold and moved into a more expensive place I wouldnt have been able to dream of before I had the original purchase pay off so well. If I was starting out now I might hold off a couple years due to uncertainty of future price fluctuations in the lower mainland. But if your spending under 300k, say for a new townhouse in Surrey/Delta and it was my first home the current hew home buyers tax credit is a sweet $10k tax bonus to help the decision to buy before it expires march 31st 2013. Link to comment Share on other sites More sharing options...
SkeeterHansen Posted September 23, 2012 Share Posted September 23, 2012 I love it when people get rialed up over debt. Link to comment Share on other sites More sharing options...
vancanfan Posted September 23, 2012 Share Posted September 23, 2012 I love it when people get rialed up over debt. Link to comment Share on other sites More sharing options...
Joker Posted September 23, 2012 Share Posted September 23, 2012 Well I'm only 17 years of age, so I don't have any... Right now... Link to comment Share on other sites More sharing options...
SkeeterHansen Posted September 24, 2012 Share Posted September 24, 2012 I hate it when people bump old threads Link to comment Share on other sites More sharing options...
zombieksa Posted September 24, 2012 Share Posted September 24, 2012 25K still on student loans (had no financial backing thank you very much) <1k on credit cards <5k on my vehicle >70k on mortgage. ..and yes, it keeps me up at night but it'll get better obviously, I am young still. Link to comment Share on other sites More sharing options...
bolt Posted September 24, 2012 Share Posted September 24, 2012 About $350k on a mortgage on an $800k property offset by over $200k in investments. Wondering why people try to pay down their mortgages faster right now. my mortgage is at 3.1% and most others should be near that or even lower. . Average investor who isnt a dumb ass can make 8% or more right now without too much hassle so why would I or anyone dump that money into a 3.1% return. Its the exact same reason TFSA's suck. None pay a decent return. Yeah the return is tax free but since the return doesnt even outpace inflation your treading water at best. Its better than a regular savings account but its still a suckers bet. Link to comment Share on other sites More sharing options...
avelanch Posted September 24, 2012 Share Posted September 24, 2012 house and school loans only. Link to comment Share on other sites More sharing options...
*vInTaGe* Posted September 24, 2012 Share Posted September 24, 2012 about 10k student loans. Link to comment Share on other sites More sharing options...
McBackup Posted September 25, 2012 Share Posted September 25, 2012 I'm not going into debt, I'm working my ass off between semesters. Link to comment Share on other sites More sharing options...
thehun Posted September 25, 2012 Share Posted September 25, 2012 Only debt I have is our boat but we will pay the last $10,000 before december and be debt free again. Have the money to pay off the boat but will wait. Link to comment Share on other sites More sharing options...
Lillooet_Hillbilly Posted September 25, 2012 Share Posted September 25, 2012 $27k left on my house, thats about it. would have been paid off if all hell didn't break loose in '08 Link to comment Share on other sites More sharing options...
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