STYLETHREAD -- LET'S TALK SHOP!

crystal · Kate Spade

How much debt are you in?

Alikat · Kate Spade

Most of my debt is from undergrad and grad school

bumblebee · Dooney & Bourke

are you talking about just credit cards, or are you including student loans and other stuff?

CarrieS · Marc Jacobs

Well, I voted for the $5000-$10000 category, but that's mostly because of my new car loan.

I'm only $1200 in credit card debt, soon to be $1000 (making another payment after I get paid at the end of this week), but the full amount will be paid off by July, so my credit card will be free and clear by then. I don't have student loans or anything either, so yeah, the rest is my car loan...

crystal · Kate Spade

quote:
Originally posted by: bumblebee
"are you talking about just credit cards, or are you including student loans and other stuff? "

For myself I included car loan, credit cards, & student loans... anything you owe money on that is not a regular bill (like car insurance or cell bill, etc.).

Karina · Chanel

i voted <$1000 because there is still a $800 charge on my credit report that I have to dispute.

bumblebee · Dooney & Bourke

ok, then i'm in the over $20K category, but my student loans are the vast vast majority of that (like 98%).

Chic · Marc Jacobs

None! I was 10K in debt 4 years ago, not anymore!

blubirde · Chanel

I'm so far in debt that if I died, the creditors at my funeral would outweight the friends and family. Luckily, most of that is student loans so I don't feel soooo bad. (Luckily my ass, actually, law school was expensive!) You should do a poll that's strictly credit card debt. That would be an interesting poll.

crystal · Kate Spade

point taken, blubirde... i'll post another poll!

chic, do u mind sharing ur strategy to pay of the 10k? i have a plan, but i'm always open to new ideas!

Karina · Chanel

http://www.creditboards.com

-- Edited by Karina at 14:30, 2005-03-30

Elle · Hermes

I'm in the >$20,000 category I believe - Well technically most of that is FH's debt b/c everything is in his name! We're up to about $15,000 on FH's school loans, $8,000 on his motorcycle, $2,000 on the car, and about $2,500 in CC debt that will be paid off as soon as we get our tax refunds. Thankfully, all of this will disappear as soon as FH gets a job in June/July!

Chic · Marc Jacobs

My secret was I was still in college, so I moved home, worked 30+ hours, while in school, and bought nothing for a year and did nothing, if I went out, I begged for drinks and then once it was all gone, I cut the cards...now I just have an Amex, that I have to pay every month!

miss t · Dooney & Bourke

quote:
Originally posted by: blubirde
"I'm so far in debt that if I died, the creditors at my funeral would outweight the friends and family. "

I am in the same boat, too. Like everyone else, the majority is from my monster school loans. However the debt that is eating me (and my credit rating) alive is my credit card debt hell that I created myself while in college.

lindsayp · Kenneth Cole

I dunno, mine's 15,000 or so from student loans, and then a boatload off my truck payments, so it sounds like a lot, but somehow it doesn't really seem that way. I guess because I don't have to think about the student loans for another 2 years or so, or maybe I'm jsut deluding myself!!!

domkfox · BCBG

Luckily, I have no debt at all, but that still doesn't keep me from waking up middle of the night stressing about finances.

halleybird · Hermes

I want to point out that there is good debt and bad debt, though.

If we're talking sheer numbers, I probably owe $250k. But I also own my house, two cars and a lot of nice furniture. My actual, frivolous cc debt is only about $1k.

jacL · Coach

I told myself after a couple thousand in CC debt, what was a couple more? Then it escalated til I owe almost as much to my two CC companies as I do in student loans. Now that I am out of college (ok, two more weeks!), I should have it under control in a few years as long as I don't start to spend even more. I also have a budget now. Yeh, this sucks.

member · Hermes

quote:
Originally posted by: jacL
"I told myself after a couple thousand in CC debt, what was a couple more? Then it escalated til I owe almost as much to my two CC companies as I do in student loans. Now that I am out of college (ok, two more weeks!), I should have it under control in a few years as long as I don't start to spend even more. I also have a budget now. Yeh, this sucks."

It totally does suck doesn't it? I'm about $5,000 in cc debt and now I am determined to pay them off because I can't stand having that hang over my head. It's no fun though because I am a budget now and can't shop nearly as much as I like to

scarlett · Marc Jacobs

i'm at just over $3,000 in CC debt, and have been pretty annoyed with myself for doing it. i did this once before and got it almost all paid off, and then got a better paying job, so i went nuts and bought a lot of stuff! but lesson learned: time to not spend any money. i love shopping so it will be hard, as i'm sure we can all relate to!