How much debt do you have?

[sam76]

add up everything.

House, Credit Cards, HECS, Margin loans, Car etc....

 

[prawn_86]

Would be zero without HECS...

 

[chops_a_must]

Would be zero without HECS...

I reckon I'll be pushing half a mill by the time I'm done with Uni. Lol. :

But zero without Hecs.

 

[sam76]

Would be zero without HECS...

you and me both.

My last tax return paid a major chunk off. Not too far to go!

 

[prawn_86]

you and me both.

My last tax return paid a major chunk off. Not too far to go!

Im undecided as to wether to pay it off with spare cash or not. So far i havn't.

Its a CPI adjusted loan, so theoretically its 'free'. Now i know you get the 20% discount for paying off lump sums, but if you were to put that money in a high interest bank account then it would take about 8 yrs to make that 20% (after inflation).

Plus i have plans to move overseas...

 

[Ageo]

After losing money (that i borrowed) from previous cowboy trading and buying a house (when i got married) i have a total of 490k in debt loans. I was worse off 6 months ago as i had another 20k on GE credit and car loans but that is paid off. I must admit i did learn the hard way and lost alot of money doing it, but in the end its only money

 

[Glen48]

I go out working and just put the money in the bank as i have nothing to pay of however there is no incentive to try and get ahead...be good if we could get this survey out in to the rest of Australia's citizens the figure would be a lot different.

 

[travwj]

Between my partner and I we are about 230k in debt...bought an apartment...but no car loans, and no credit card debt...would be god to be debt free again.

 

[Indie]

For the first time in history, zero.

 

[villemus]

zero without HECS....

just paid off all my loans.....

 

[nomore4s]

I have about $130,000 owing on my home loan but in about a month it will be zero due to selling up.

My other half has about $90,000 owing on an investment property in QLD.

 

[Spek]

Nil

 

[Sir Osisofliver]

You know this poll would be a lot more relevant if you asked what the net worth was as well. Who is better off someone with no debt and minimal assets, or a large amount of debt and LOTS of assets?

EG

50,000 debt 100,000 in assets vs
500,000 debt 10,000,000 in assets are very different

 

[gav]

You know this poll would be a lot more relevant if you asked what the net worth was as well. Who is better off someone with no debt and minimal assets, or a large amount of debt and LOTS of assets?

EG

50,000 debt 100,000 in assets vs
500,000 debt 10,000,000 in assets are very different

Haha, yes I can see the property owners giving their asset/s a nice value figure... :

 

[marcadrian]

Cash at hand $500k
Personal loans: $0k
Investment property loan: $390k (-$5k pa cash flow)

Not a bad spot to be in.. but where does one put $500k these days?

 

[sam76]

You know this poll would be a lot more relevant if you asked what the net worth was as well. Who is better off someone with no debt and minimal assets, or a large amount of debt and LOTS of assets?

EG

50,000 debt 100,000 in assets vs
500,000 debt 10,000,000 in assets are very different

We should put an age bracket in there as well.

All too hard with polling system we have.

 

[Julia]

C
Not a bad spot to be in.. but where does one put $500k these days?

Exactly. Rates forecast to fall to sub 4%. Inflation 5%. Then tax.

 

[tech/a]

Haha, yes I can see the property owners giving their asset/s a nice value figure... :

No doubt a comment from someone who didnt take advantage of the biggest Property Boom in history!

Whats the point of this anyway.
Geared 38% on last valuation (4 mths).
As stated wealth is relative.
I hardly think anyone in the Poo's going to admit it!

 

[marcadrian]

I agree with tech/a. Although i'm on a lump of cash I don't own a house.. and I want to live somewhere nice in Sydney. So all of a sudden I am feeling very poor...

A better question could be - are you happy with your financial position at present? How do you plan on improving it over the next 5-10 years?

Personally i want to have a passive income of $100k+ by the age of 40 (ten years time) for various reasons - travel, spend time with kids, escape to the hills/seaside etc. I plan to get there by watching ASF and betting on people's recommendations...

 

[Ageo]

I hardly think anyone in the Poo's going to admit it!

I did but i also stated that i learned hard and well from that and on the road to recovery.