HomeDebtToo good to overlook.

Too good to overlook.

Yesterday I asked you readers to get a little vulnerable and share what kind of debt you had. Many long time readers finally came out of hiding and decided to contribute to the conversation (special thanks to my creepy lurkers). At last glance there was nearly 150 comments left. Some utterly awesome, some terribly depressing, and of course, there was even some drama. I swear this blog could be its own soap opera…

Anwhoozle, I seriously read through every single comment –took me something like 2 hours (don’t make fun I’m a slow reader)– and I was fascinated to see where people stood. Some kicked debt in the uterus (my alternative blog name if I ever get sick of punching debt in the face)…

My debt punching experience began in 2008, when my husband and I got married and had $48,000 in debt. We were debt free in 11 months! In 2009, we bought a house for $95,000 and paid it off in one year. Flash forward to today and our net worth is $245,000. Our average income since 2008 has been $110,000 and our strategy is to live off one income. In your face, debt!

While other’s discussed how they use it to leverage investments…

I think I win for the most debt, about $800k total.

$100k @ 3.5% with 8 years left for rental property #1
$300k @ 3.5% with 15 years left for rental property #2
$400k @ 3.75% with 30 years left for current home

It’s a lot of debt but we break even on the rental properties and housing in our area is expensive so $400k for a home isn’t bad. We paid off about $100k of debt last year.

It’s funny how different people’s perspective on debt can be. Some love it, some hate it, and others are impartial. I’d put myself somewhere between hate and impartial.

Instead of distract from all the nuggets in yesterday’s comment thread by posting something unrelated up today, I simply want to encourage you to go back to that thread, if you haven’t already, and see how other people are doing. If you’re anything like me, you’re nosy and love getting in to other people’s business 🙂

Anything from yesterdays comments surprise you? I personally was surprised by how much debt some people have. I use to complain that my $28,000 student loan debt was overwhelming, but compared to many, I guess it ain’t so bad.



  1. Hey Ninja – it was a great post!! Definitely hurt to type up for me, but seeing other people in the same situation (sometimes worse, sometimes better) was great to see. It was also great to see some hope with people that have worked hard to get out of their debt, and are now living without it. Feels good to know that I’m working hard and not alone! 🙂

  2. I loved being able to read everyone’s comments yesterday! And I agree, I used to think I had a lot of debt, but most of it is just my house (which is relatively cheap compared to others).

  3. Everytime I started to type a comment yesterday, I got side-tracked by having to do some work! AND, I had to leave on time last night due to a prior comment… coffee with my friend… I take my coffee dates VERY seriously 😉 I will go back and read some of the posts, and post my own info… just didn’t want you to think I bailed on ya!

  4. never doubted that you read each comment but lately it seems like you hardly respond to our comments. If I’m wrong, well fine but I think you’ve not been responding as much as you used to before. Also we’ve kinda not had great follow up on some posts ( eg. the one where you asked our opinion on you and GN sharing rent with friends in a bigger house), I know you’re now away but what’s the latest with that? Anyway, lots of us love showing up here everyday to see what you have to offer so just my little encouragement to keep up the comment responding side of things.

  5. Nothing surprised me much regarding debt. There are those who have a tremendous amount of debt and those who do not. People do what they want to do regardless of what’s best for them, in regards to severe debt. That post generated a great deal of comments because many people need to have a catharsis and share their burden with others, I’m sure it will help many on their way to becoming debt free in the future. Great post, Ninja.

  6. I hate debt and can’t wait to be rid of it for good! Lookin’ like three years!

    But now we have a baby on the way, so that may extend that time a little bit. We’ll see.

  7. I just love how open and honest your readers are. Gives a great sense of encouragement and community. Thanks for sharing everyone.

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