On average, I hear most people in the US have approximately $10K in credit card, a mortgage, and school loans. I'm just wondering if this is more or less accurate.

I have the following:
$600 credit card
$10K car
$456465465405640564056405640654 loan for my MBA

It seem like we are doomed to be in debt forever. I guess its just a fact of life.

 

3 letters: USC

answer your question? haha but im damn proud to be a Trojan!

 

but its all worth it in the long run

 

Mine's pretty similar:

$8k remaining on my car loan
$9k in school loans (but will be finished with the degree this year)

Only thing with me is that I avoid credit card debt like the plague. My credit card is used only for convenience and credit-building purposes, and the balance is all paid off within the grace period.

No mortgage yet, and probably not for a while. I want to be carefree and avoid that kind of long term responsibility a little longer.

 

I sold my car last spring to pay off all my debts. So I'm debt free...and driving an SUV. Still can't decide if it was a good move or not.

 

I'm about $80k (CDN) in debt - that includes credit cards and what's left on my mortgage and a car. I plan to buy my S in cash....Wow that sounds really good when I type it out Then again, I don't have kids!
Yay me!

 

Where do I begin?????

$750,000 - mortgage for house
$267,000 - mortgage for condo
$ 17,000 - WRX car loan

Only good things...S2K and MR2 are paid off....

 

debt free....
i use credit card for building credit... and getting free money in the process... 5k transaction per month with 2% cash back

 

I'm debt free as well -- just curious about how using a credit card helps you to build credit?

 

Sometimes?