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Forum
-> Household Management
-> Finances
How much debt do you have?
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None |
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55% |
[ 125 ] |
0-10 K |
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16% |
[ 36 ] |
10-30K |
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10% |
[ 24 ] |
30-50K |
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10% |
[ 24 ] |
Other |
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7% |
[ 16 ] |
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Total Votes : 225 |
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amother
Crimson
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Mon, Sep 21 2015, 7:28 pm
(Inspired by a recent conversation with a friend).
I am trying to gain an understanding about why so many families are in debt and what the average debt actually is. Feel free to comment about what factors contributed and/or continue to contribute. Also feel free to post anonymously.
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sky
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Mon, Sep 21 2015, 7:44 pm
Are you including mortgage? Student loans?
Because if you are, then many people's debts are much higher then the numbers listed.
Last edited by sky on Mon, Sep 21 2015, 7:45 pm; edited 1 time in total
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16
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rosenbal
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Mon, Sep 21 2015, 7:45 pm
Consumer debt? What about if you just have student loans (and mortgage).
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amothertoo
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Mon, Sep 21 2015, 7:45 pm
When my husband finishes Graduate school we will have around 150,000 worth of student loans. His starting salary out of school will be around 150,000 plus benefits. You gotta spend money to make money . I have been working very hard so that most of our loans are tuition based (he is in an expensive ivy league school). However around 10,000-20,000 will be from living expenses, as we have 3 children and my salary doesn't cover everything.
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amother
Crimson
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Mon, Sep 21 2015, 7:57 pm
sky wrote: | Are you including mortgage? Student loans?
Because if you are, then many people's debts are much higher then the numbers listed. |
Sorry, should have clarified. I'm not including "normal" debts like mortgages or car leases. I was more referring to debt from day to day life, like from tuitions, grocery bills, camps etc.
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amother
Wine
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Mon, Sep 21 2015, 9:32 pm
amother wrote: | Sorry, should have clarified. I'm not including "normal" debts like mortgages or car leases. I was more referring to debt from day to day life, like from tuitions, grocery bills, camps etc. |
I need to change my vote. I dont have any debt except student loans and I paid off the interest. It is just principal now. I paid cash for my house.
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pause
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Mon, Sep 21 2015, 9:46 pm
We don't have any debt B"H although we are paying monthly payments on our car. Otherwise, people owe us money.
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Ashrei
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Mon, Sep 21 2015, 10:16 pm
amothertoo wrote: | When my husband finishes Graduate school we will have around 150,000 worth of student loans. His starting salary out of school will be around 150,000 plus benefits. You gotta spend money to make money . I have been working very hard so that most of our loans are tuition based (he is in an expensive ivy league school). However around 10,000-20,000 will be from living expenses, as we have 3 children and my salary doesn't cover everything. |
I'm curious what starting salary is $150k?! sign me up!
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beatbox123
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Mon, Sep 21 2015, 10:59 pm
My husband is in law school and I will be starting school for a degree soon.. We will probably both graduate with 100,000$ all together in loans.. Including living expenses ..we don't have a choice.. But when we are done our salaries will be significantly higher then they would be without degrees... So worth it
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BrachaBatya
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Mon, Sep 21 2015, 11:01 pm
I assumed it included mortgage and student loans so I voted on a higher end figure. Oh well.
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amother
Burlywood
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Mon, Sep 21 2015, 11:10 pm
Only student loans... Which it seems doesn't count here so I said none.... But unfortunately those loans need to be paid anyways!
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STovah
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Mon, Sep 21 2015, 11:27 pm
Ashrei wrote: | I'm curious what starting salary is $150k?! sign me up! |
First year associates at large law firms.
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amother
Mint
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Mon, Sep 21 2015, 11:53 pm
My husband is in law school also.
But bh we have no student loans and no debt.
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amother
Oak
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Mon, Sep 21 2015, 11:57 pm
STovah wrote: | First year associates at large law firms. |
Does someone know in school that they for sure have a job at such a firm...
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justforfun87
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Tue, Sep 22 2015, 12:06 am
Owe greater than 100+ in student loans for a law degree. Now his salary is half than that but g-d willing will grow with experience. It is such a killer paying 1000 a month!
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amother
Taupe
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Tue, Sep 22 2015, 6:50 am
We have 40K in student loans. My dh is an entry position of 65K. I'm still in school, but, I graduate next year and will make 45K. Currently together we make 84K, but, after taxes, loan payments, maaser, day care and a little bit of savings, it really doesn't feel like much. Tuition starts next year...
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amother
Sapphire
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Tue, Sep 22 2015, 8:36 am
amother wrote: | Does someone know in school that they for sure have a job at such a firm... |
Only if they have major pull or a family member with such a job that can get them in. I know a few lawyers with huge student loans struggling to find jobs that pay living expenses.
If you are looking for a high paying job out of school Pharmacist is pretty much guaranteed to get a 6 digit job, but its a lot of school.
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beatbox123
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Tue, Sep 22 2015, 8:44 am
My husbands in law school im not banking on a job that starts at 150,000 a year .. But I am banking on him making more $ then he would have if he didn't go to lAw school. Starting in a mid size firm is 65,000-70,000 a year which isn't tons.. But it's a lot more then if he was going to do something random.
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amothertoo
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Tue, Sep 22 2015, 10:12 am
My husband is not in law school. He is becoming a Nurse Anesthetist.
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Peanut2
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Tue, Sep 22 2015, 10:35 am
amothertoo wrote: | My husband is not in law school. He is becoming a Nurse Anesthetist. |
Smart choice!
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