/biz/ - Business & Finance

[Anonymous No.51244791]

How much debt do you have, /biz?

[Anonymous No.51244804]

$10,000 total, from taking out a loan to buy .5 btc at $20k

[Anonymous No.51244813]

>>51244791
$14k in loans that Uncle Joe is about to wipe out :)

[Anonymous No.51244816]

>>51244791
Just my mortgage loan, my credit cards save me between 2% and 4% on my daily expenses and I pay off the balance in full every month,

[Anonymous No.51244821]

Just my car loan for $27K. Had to buy my lease out because I didn’t want to get a new car in this market

[Anonymous No.51244823]

>>51244791
A house worth, so 100k€
Hah thats like 2 year salary and i got a house for it. Biz mutts are fucked

[Anonymous No.51244835]

>>51244791
$140k of student loans. they're all federal, i'm paying minimum payments for 20 years + paying a $30k tax bomb.

[Anonymous No.51244856]

>>51244791
219k. Ive been paying off the interest for the past 14 years which amounted to 412k total. Crypto is my only hope of going debt free forever.

[Anonymous No.51244872]

>>51244804
Bitcoin is a pyramid scheme.
>>51244816
Credit cards don't save you lonely refer to babystep 1.
>>51244835
Get a third job and eat beans and rice for the next year until that debt is paid off.
>>51244821
Take the car back and buy a car in cash for 5000 dollars.

[Anonymous No.51244874]

>>51244791
$1000 credit card debt I’m chipping away at
$14000 auto loan debt

[Anonymous No.51244884]

>>51244872
*money not lonely

[Anonymous No.51244896]

>>51244872
>Get a third job and eat beans and rice for the next year until that debt is paid off.

why would i do that? i make about $100k/year and my loan payments are $600/month. brandon is going to lower it to $480/month.

[Anonymous No.51244898]

Debt doesn't exist if you dont intent on paying it

[Anonymous No.51244907]

>>51244791
its kinda hard to imagine people having debt. but then again i do live with my parents so whatever

[Anonymous No.51244910]

I owed 220k on my 1.1m house.
This is just a tax strategy, I have an investment company and trust that hold 1.4m in cash between them.
Plus I own a 700k investment property.

And I own a business.

[Anonymous No.51244922]

>>51244896
>>51244898
This is literally the dumbest shit ever.

[Anonymous No.51244932]

>>51244816
Based
>>51244872
They do if you're not a weak willed faggot who can't pay them off every month

[Anonymous No.51244936]

I owe about $520k on a house that I estimate is worth about $690k. I owe $4k for furniture I bought. And I have about $40k in cash. I own my car and motorbike.

[Anonymous No.51244947]

>>51244922
no, it sounds like you're poor and stupid.

[Anonymous No.51244960]

>>51244898
debt is a one-time gift

[Anonymous No.51244964]

>>51244791

[Anonymous No.51245013]

>>51244791

i dont have it, the bank has it

[Anonymous No.51245017]

>>51244947
You're the one coping with your debt. So no I'm not the stupid one.

[Anonymous No.51245037]

>>51244813
im going to laugh so hard when this doesnt go through

[Anonymous No.51245058]

Zero debt. Bought my house cash at the bottom of the market. Bow before me plebs. I'm the Ramsey now.

[Anonymous No.51245066]

>>51245017
again, it sounds like you're poor and stupid. even net of my $600/month student loan repayment obligations, i am putting more money per year into post-tax savings than i made pre-tax before i went to school. and i'm only 4 years into my career. i can realistically job hop today for $110-120k/year, or i can grind 1-2 more years and job hop to $130-150k/year. keep coping with that "debt free" lifestyle, wagie. poors avoid leverage. smart people embrace leverage, with an understanding of the risks.

[Anonymous No.51245079]

>>51244791
$1,000

[Anonymous No.51245107]

>>51245066
Literal brainlet cope

[Anonymous No.51245214]

$0. Despite [image], and being out of college for 12 years now, rarely working for much of it ( short lived high pay job -> NEET -> savings run low -> repeat), I either had my $24k in FAFSA loans on deferment, forbearance, or paying bear minimum, the entire time, with the thought that eventually, one of the following would occur:
>I would hit 25 years "good standing" (which includes time in deferment and forbearance), paying only minimum, and remaining loans would be forgiven by Obama FAFSA loan forgiveness plan
>Some liberal politician would forgive part of all of my loans
>A family member would die and I would pay off via inheritance

Eventually, over 12 years, I paid $6k in interest, keeping the balance at $24k. When my father's second wife died, a couple years ago, and he inherited almost $1m, I heckled him about it and how, when I was in college, he would always say, "Sorry, I would help, but I'm too poor," (which was the truth), but now he was loaded, and eventually cut ties with him for a year in anger over him not paying them. After a year, he offered to pay my loans in full, and I started talking to him again.

So, from my total college cost, 5 year in school (switched from English to CS in year 2.5, so needed extra year), I only paid $6,000 for my education, and the rest was paid
>Just as planned

[Anonymous No.51245216]

I have 8000 on credit cards. Pretty stressful.

[Anonymous No.51245244]

>>51244791
$58K mortgage
$28K car
That's it.

[Anonymous No.51245492]

>>51244791
$0.00

[Anonymous No.51245554]

>>51245216
Look over your budget and cut costs. Pay it off asap. Making the minimum payment you are just getting ass blasted by the CC company. Maybe even pick up a temporary part time job to help pay it down.

[Anonymous No.51245574]

I have zero debt.

Well technicallly i owe around 20 bucks to a friend I suppose.

[Anonymous No.51245585]

>>51244791
7k in my Camry. No college debt. Lol imagine…

[Anonymous No.51245608]

101,240 left on my house
My taxes just went up though so the 3 grand I was going to pay off this month are now going towards school taxes

[Anonymous No.51245614]

>>51244791
just 10k of private student loan debt that i could pay off but im saving for a mortgage down payment

[Anonymous No.51245638]

>>51244872
God i hate Ramsey-fags so fucking much

>j-just work 5 jobs, if you wanna affors food, anyone that doesnt do that and enjoy it is a lazy sack of shit

[Anonymous No.51245659]

>>51245638
his typical caller/discipline is a complete retard, the type of person to take out a credit card and carry a 4-5 figure balance from the very first month. for these types of people, his advice is perfect: you're too fucking stupid to safely use leveraged debt, just avoid it outright.

for people with a functioning brain and an understanding of personal finance, his advice is foolish.

[Anonymous No.51245664]

>>51245638
Why? He gives solid advice for the average person. What's your advice? Dump all your saving and take out a loan to buy an inflationary shitcoin to get rugged on?

[Anonymous No.51245678]

about 12% of my net worth

[Anonymous No.51245732]

>>51245214
did he make you go to college? if not, youre a blackmailing faggot

[Anonymous No.51245810]

>>51244791
Like $30k? I took out a couple loans to buy crypto and I'm currently sitting on them waiting for the bottom.

[Anonymous No.51245840]

>>51245659
His advice definitely isn't foolish, the word you're looking for is prudent. It will take you significantly longer to make it but at the same time the probability that you get rekt also drops to basically 0. It's a low risk : low reward strategy but like you said, for people who are absolutely undisciplined financial mongoloids its the best strategy.

[Anonymous No.51245958]

>>51244791

[Anonymous No.51245983]

>>51244791
- ~175k left on mortgage (co-owned cabin with brother so everything split in half)
- ~30k federal student loan (-10k, thx Biden)
- 8k private state loan for college
- 8k credit card debt

The only thing I regret is the credit card. Should have it all paid by next April though. Thank god I took the loans out and went to school, couldn’t imagine my life otherwise now.

[Anonymous No.51246029]

>>51245840
Most of his callers are retards that aren't starting any businesses anyways. That's why they call in every 5 seconds asking the same questions over and over.

[Anonymous No.51246037]

>>51245638
Ramsey Chad's check in

[Anonymous No.51246041]

>>51245214
Based. I did basically the same thing and now it’s all about to be wiped away clean. Thanks Joe Biden, you insufferably stupid idiot

[Anonymous No.51246237]

>>51244791
0.

But only ~70k in cash and assets. Im 24. Not great, not terrible.

[Anonymous No.51246270]

>>51246237
Most 24 year olds don’t have $70k I’d say that’s pretty good

[Anonymous No.51246276]

>>51246270
thanks man

[Anonymous No.51246318]

About £190 on a credit card. Assets are about £25k, but I haven't worked since 2014 for medical reasons and am essentially renting my bedroom at my parents house with part of my disability cheque.

[Anonymous No.51246370]

>>51245732
No, but he abandoned my mother with four children, and is now on wife #3, so I don't feel bad about it.

[Anonymous No.51246521]

>>51244872
Central banks are a pyramid scheme* begone FED.

[Anonymous No.51246525]

>>51246318
Wtf did you spend it on

[Anonymous No.51246537]

>>51246525
That's not £190k, that's just £190. £10 less than £200.

[Anonymous No.51246558]

>>51246537
Oh you must of ran up the pasty tab the

[Anonymous No.51246707]

$184,000, on a 30 year mortgage, at a 3% interest
as of yesterday my lame-ass banking account hit 2%, and it will keep climbing and as a leveraged investment my own primary shithouse residence has just kept climbing


by debtmaxxing I am now a millionaire
so big thanks Dave Ramsey, the bible thumping turbo simp asshole
seethe some more about all those minorities getting their student loans forgiven, LMAO

[Anonymous No.51246717]

>>51244791
0 stupid americans

[Anonymous No.51246738]

>>51246707
You have -$184,000 debt slave

[Anonymous No.51246750]

150k, 20 of which are pell grant
Haven't played a penny, why would I when there's no interest being added during the pause? If anything inflation is paying it off for me.

[Anonymous No.51246761]

$10,000 SBA loan
$3000(?) Student loans, not even sure of the amount since I haven't paid in years due to covid and just ignore it

[Anonymous No.51246815]

Hi Dave, how you doing? Better than you deserve I'm guessing? Anyways my situation is that u have about 250k left on my mortgage on my condo (worth almost 600k, gotta love California), but I have nearly 200k in stock investments. Do you recommend I sell all of my investments and pay off my home? Your baby steps don't mention investing in stocks while paying off my mortgage. These investments are totally separate from my retirement accounts by the way.

[Anonymous No.51246839]

>>51244791
like $3k

[Anonymous No.51246872]

>>51246815
dipshit dave, on a call like this, would unironically tell you to do one of two options:
1 - liquidate all of your assets, incurring a huge tax cost, to pay off the mortgage so that you can do right by Christ
2 - keep your assets, but stop any further investment, and work an extra job delivering pizza to pay off the mortgage as fast as possible, because hard work is godly and you were put here by God to serve

[Anonymous No.51246933]

I carry 0 debt.
Debt is the currency of slaves. Everything else is pilpul.
If you are in debt, you have a jewish parasite attached to your body, slowly sucking the life-force out of you like an isopod feasting on a snapper!

[Anonymous No.51247056]

>>51246933

dang man... you're pilpulpilled

[Anonymous No.51247158]

can a serious anon please explain to me how to get out of an 8k private student loan. theres gotta be a way. what if i just dont pay? am i gonna be able to get a house loan or will that definitely not happen for at least 7 years?

[Anonymous No.51247166]

>>51247158
i'll add that it was higher but ive paid about down to arrive at that amount

[Anonymous No.51247511]

>>51247158
Vote Democrat in the midterms

[Anonymous No.51247575]

>>51244791
$20k student loan debt
I'm not paying any of it because based Biden is going to forgive it all.

[Anonymous No.51247638]

>>51246872
What's your advice, anon? Buy shiba inu?

[Anonymous No.51247729]

I have almost $460k in low interest debt. My annual salary is $190k though.

[Anonymous No.51247849]

>>51247729
>nearly half a million in debt
>770 credit score
And that's how you know the whole system is a jew-ran fucking lie designed to put you in debt and reward you for it.

[Anonymous No.51248232]

>>51247849
Don't hate the playa, hate the game

[Anonymous No.51248263]

>>51246933

Don't carry more debt than you could pay off tomorrow but why wouldn't you take advantage of 0 apr loans to accumulate assets? It's makes you able to stretch your cash much further.

The VC jews know this and don't usually allow the purchase of precious metals with those loans but there's ways around it.

[Anonymous No.51248378]

>>51248263
>ways around using 0% apr loans or promotional periods to purchase precious metals
Explain.

[Anonymous No.51248385]

>>51247511
read it again: private student loan

[Anonymous No.51248492]

>>51247158
8k is nothing. Just pay it faggot

[Anonymous No.51248498]

>>51244791
None, was able to pay off my loans due to a scholarship at school and then ETH to buy a house. Feels good.

[Anonymous No.51248583]

>>51244791
15k
Using leverage to sneak in some gains by EOY to early next year.

[Anonymous No.51248703]

a 40K mortgage on my 170K apartment, paying 0.41k a month. Heat, water internet and a garage and a parking spot included in that price. still paying .2k on the loan a month @1.76% maybe i should stop and let inflation take care of the rest...

[Anonymous No.51249149]

>>51246750
>>51244816
>>51244823
>>51244856
>>51245013
>>51244922
>>51245066
>>51245608
>>51245983
>>51247729

cope slaves you're poor, literal bottom of the pyramid slaves tier doing mental gymnastics because they can afford dinner out after the 9/5 shift. cope. You will pay the debt or will be evicted, your assets will be seized, make sure to not upset your wife or you'd have to pay child support too, literal cucks. You don't know how fucked you are

[Anonymous No.51249168]

>>51244791
0 debt. never had any. t.european. not taking a mortgage. will stay at my dad, have a big bitcoin stack. fuck the rent jew and fuck the mortgage jew

[Anonymous No.51249183]

10k left on my truck. nothing else.

[Anonymous No.51249194]

>>51244910
no gf though so whats the point?

[Anonymous No.51249911]

>>51249168
BASED

[Anonymous No.51249991]

I have 0 debt. Don't even know what I'd get into debt for. Technically I have 400 euros in credit card debt but I autopay that 100% each month

[Anonymous No.51250015]

My wife has 50k in student debt from grad school

They are all deferred, I have the money to pay it off setting in a HYA account waiting to pay them off

[Anonymous No.51250038]

>>51244791
$600000 house
$200000 debt

[Anonymous No.51250237]

Back where I started. 3 stacks of High Society.

[Anonymous No.51250321]

>>51244791
It was $19k, but now it's zero thanks to Biden.
Still not voting Biden.

[Anonymous No.51250375]

>>51247638
it's highly variable on the individuals personal circumstances, and not a one-size-fits-all plan for brainlet fundie idiots, but in all possible cases do not sell off assets to pay the mortgage and under very many of those cases do not even accelerate payments on the mortgage

[Anonymous No.51250455]

>>51245037
What makes you think it wouldn't?>>51244896
Hmmm idk this lithe anon thinks it won't happen
>>51244898
>>51244907
Based
>>51246037
Czeching in with based digeritos
>>51246872
Imagine thinking destroying your current cashflow is worth the potential capital appreciation of an inflated asset

[Anonymous No.51250472]

66k but soon it'll be 46k. Thanks Joe

[Anonymous No.51250531]

>>51244791
$22k
My only hope is the next bullrun, I haven't sold a single BTC.

[Anonymous No.51250644]

>>51244791

3.7 million

[Anonymous No.51250663]

250k

[Anonymous No.51250685]

>>51244791
Like 600 dollars unironically, took me over 7 years to be almost debt free

[Anonymous No.51250697]

$0 debt but I want to get a house soon, sitting on 60k cash just need a couple more thou and I’ll start the process. Will I be able to buy one by EOY?

[Anonymous No.51251315]

>>51250455
wow what a big brain argument you have, gotta make sure to free up all that cashflow so that you can buy all those assets that AREN'T inflated

[Anonymous No.51251352]

>>51244791
6800 or something.

[Anonymous No.51251475]

>>51248583
I've got around 12k debt but I'm hoping it would be down a whole lot BY EOY with the help of the passive income I'm getting for staking stables.

[Anonymous No.51251561]

>>51249991
>I have zero debt
>400
Imagine if you had to cough up 400 to me at the end of the month. That would sort of make you indentured to go work somewhere and bring me my money quickly, otherwise you will owe me a bunch more and I’ll get it.

[Anonymous No.51251651]

No debt aside from $370k debt on a $1.28m house.

[Anonymous No.51251791]

>>51251475
Are you getting so much from staking?

[Anonymous No.51251972]

>>51251791
It's decent enough to help clear a good part of it. The APYs on Spool are around 6-12%; could even create a personalized vault with a higher APY.

[Anonymous No.51252396]

>>51251972
Any downsides to having vaults with higher APYs?

[Anonymous No.51252532]

>>51252396
Hello newfag! It's more risks for higher APYs. Are you that retarded?

[Anonymous No.51252553]

>>51244791
Just my house, 230k.

[Anonymous No.51253530]

>>51251315
I see where you're coming from as I have read your other posts and I understand your perspective a little better. You're right to not sell off assets to pay the debt. I will say however, debt still eats your cashflow and your risk of capital appreciation does not equal the risk you have that your debt service will be due each month. Most branded morons cannot understand the difference between risk and "the spread". This is where Dave's advice is pretty useful for the masses because it short circuits the critical thinking required for appropriate dealing of financial risk. In that regard I'll also posit that in this case, being contrarian to Dave for the sake of being a contrarian is not the winning strategy. Taking what he has as a data point is appropriate. And I never answered the threat question. 130k. I've paid off around 200k of debt prior to having this newfound debt. In all cases, any debt I've had has eaten up my freedom to do as I please and anyone who argues otherwise is wrong. Usury is sin.
T. Christ kike

[Anonymous No.51254155]

>>51244791
12K student loan, but Unky Bidie will make most of that disappear (Still not voting for him) so it will only be 2K. With the 6 fig job I just got a few months back, I can pay the rest back with one paycheck, but first I'm slurping up as much shitcoins as I can. Of course I got credit card debt, but I pay it all in full every month.

My next debt move is to buy a house, duplex or condo next year, so I'll be paying a mortgage in the future. I just want to get out of the rent rat race before the average gets to $2,000.

[Anonymous No.51254449]

more than i deserve

[Anonymous No.51254532]

>>51250644
Woah you open business or build a company, anon? seven figures is a lot