Geez, we are many times that. Almost all from our 20s: the Big Debt Aggregator. We'll be paid off in 1.8 years.

Hey, I'm finally above average in something!

/six months of unemployment sucked donkey nuts

PC LOAD LETTER:Geez, we are many times that. Almost all from our 20s: the Big Debt Aggregator. We'll be paid off in 1.8 years.

It's gotta be 22K. Heck, 2200 is good weekend for me.

/tough to buy a decent TV for under 1500

Thats right.

The much higher figure thats always thrown around includes business credit card debt. I saw an article in the Economist about a year back that broke it down real well.

"Hey guys, let's go skydiving tomorrow!"
"Dude, I can't afford that."
"Yeah man, neither can I."
"Whatever you idiots, I'll just put it on my card."

/to be young and stupid again
//Took a long time to pay that stupid card off

Damn, I've never been in for more than $2000 at a time and that was only for like a month after paying taxes.

/happily below average

I'm at 10K at the moment, but I'm paying it down at about 1500/mo.

In all likelihood the distribution isn't clustered around 2200. It's probably a large spike at 0, and then a wide, shallow curve.

Outside of emergencies and catastrophes, I don't understand people who accumulate credit card debt. What is wrong with you?

Is that $2200 counting debt which is paid-in-full within the grace period?

Edsel: Damn, I've never been in for more than $2000 at a time and that was only for like a month after paying taxes.

I'm in that boat right now, but that's what I get for being a freelancer/independent contractor and not paying enough estimated taxes.

/live and learn
//less take-out
///should be debt free again by mid-summer

Korovyov: Is that $2200 counting debt which is paid-in-full within the grace period?

Probably, considering that I pay my card in full every month and my credit report has a negative that I "maintain too high a balance compared to limit". This is because I keep 1 card with a relatively low limit compared to my monthly expenses.

If my credit report counts it, I'd bet what they report to the government is the same.

Not a dime. Homey don't play like that.

PC LOAD LETTER: Geez, we are many times that. Almost all from our 20s: the Big Debt Aggregator. We'll be paid off in 1.8 years.

im 23 and the only thing i owe money for is college. What the fark are you buying?

Count me as one of the people bringing down the average. The largest debt I've ever been in was under $700. Unless there's some hidden charges waiting to spring on me in the future, I'm completely debt free, and plan to stay that way (except for an eventual home loan).

I was much more than $2,200 at one point in time. Now I'm at about $22. Feels good.

Don't buy stuff you cannot afford.

moothemagiccow: im 23 and the only thing i owe money for is college. What the fark are you buying?

I'm 26 with 0 debt and around $90k in assets (earned, not inherited or given anything).

/investing not spending ftw
//dork

You can read the bill here. (new window)here.

Rangel has gotten $61,950 in PAC money from Citigroup. PAC report (new window)
Maloney only got 5k in PAC money from Citigroup in 2008. PAC report (new window). I suspect this bill will die in the Senate.

Korovyov: Is that $2200 counting debt which is paid-in-full within the grace period?

If this is so, I'm over average, yet pay in full every month. If I buy it, it goes on the card (family of 4).

RunGMC: You can read the bill here. (new window)here.

Rangel has gotten $61,950 in PAC money from Citigroup. PAC report (new window)
Maloney only got 5k in PAC money from Citigroup in 2008. PAC report (new window). I suspect this bill will die in the Senate.

wrong thread?

I dunno... We've carried an above average balance for the last few years. All at 0%.

Meanwhile, over in our savings account...

My Amex card is set up to automatically pay my bills and store charge cards. My checking account is set up to automatically pay my Amex balance. I put more money than I spend into my checking account.

The aristocrats!

I'm going to have to pay over $2200 for car repairs this week on a credit card, so I'm really getting a kick out of these replies.

/Will pay it off this month though

jfsimpson: moothemagiccow: im 23 and the only thing i owe money for is college. What the fark are you buying?

I'm 26 with 0 debt and around $90k in assets (earned, not inherited or given anything).

/investing not spending ftw
//dork

Better hurry- you've got to be at the gym in 26 minutes.

I just made $10,000 in paying down CC debt today.

I like the logic of some people.

"I have to spend this money, this sh*ts 15% off!"

Person then proceeds to pay with a credit card with 22% interest.

Zero debt. Used to owe a shiatload, but I decided to go without that huge-ass television, and instead, PAY MY shiat OFF.

And I did.

Debt : asset ratio would probably be more meaningful. Far harder to compute, probably. Maybe 'debt : liquid assets'.

I think I might have $200 that is scheduled to be payed off in a few weeks when it comes due. And that's my only debt.

/still has the big ass tv
// 65" looks a lot more reasonable in CostCo.

Outliner with 0 CC debt. Never had one, never wanted one because I saw friends at a young age get in too much trouble.

"in too"? doh

I'm down 9k on one card, but it was a little over 22k on four cards this time last year.

I've paid enough in interest to buy your friggin house. The big dunce cap in the corner is mine.

I am at $0 in credit card debt, so somebody must have $4,400....

Hell, my wife and I rack up $2200 per month on our credit card. We also pay it off every month.

/Racking up the points
//Here in a year or so we will have enough points for a free fill up at the Exxon Station.

Saiga410: "in too"? doh

actually, it kinda makes sense

0 in CC debt. If you can't pay for it. Don't freaking BUY IT.
If you don't understand the concept of interest or how to calculate it, DON'T get a credit card.

CC should be used as a convenient form of payment, not a delay the debt get out of the bill for a month magic card.

Abominable Snow Man: Don't buy stuff you cannot afford.

My ass. You could be dead tomorrow, or crippled. YOU can suffer and be holier-than-thou. I've got a credit card and I'm in a nice hotel screwing your girlfriend while you eat mac and cheese. I'll be an old man with a big fat grin on my face and memories and photographs in a rocking chair then die leaving a mountain of debt. You'll be unable to walk the steps and hills in Europe but have good memories of mac and cheese, but you'll have money in the bank to leave your spoiled ungreatful children.

I like my way better.

Oops. UnGRATEful.

Not a lot of average on this site...nor are there an abundance of Farkers willing to proclaim "See my McMansion and H2? Yeah, I'm $100k in the hole! Booyah!"

Fark credit cards. I pay cash for everything, no worry about the bill coming. Not enough money? Then I don't buy it.

"Averages" are meaningless when it comes to to U.S. economic statistics. "Median" is far more accurate. If Bill Gates and I are in the same room, our average net worth is $8 billion.

Hn...

Well. Replace the word "Family" with the word "household" and include the outliers of income (people too poor/too rich for credit card debt) and that number might be accurate.

My minimum payments are more than $2200 per month. But since the average rate is about 2%, it's all good.

]TunesofGlory: "Averages" are meaningless when it comes to to U.S. economic statistics. "Median" is far more accurate. If Bill Gates and I are in the same room, our average net worth is $8 billion.

It would also be the median net worth in that scenario. I am not saying medians aren't more valuable, just your example of why is dumb.

TunesofGlory
"Averages" are meaningless when it comes to to U.S. economic statistics. "Median" is far more accurate. If Bill Gates and I are in the same room, our average net worth is $8 billion.

But if you and Bill Gates were in the same room, your median would be equal to your average. Now if you factor in a cluster of people. I think the mean with the given standard deviation would tell a lot more about the data.

Bill Gates is definitely an outlier but does he have more affect on the median or the mean? Median wouldn't mean much if the data is widely distributed but the mean could also be heavily shifted if Bill was included, but then again there's a lot more poor people then rich people so maybe he'll negate the bottom outliers.
I need a statistics nerd's help.


//Sorry to threadjack.

I owe about 2400 on a LOC, but its student debt for tuition on a student LOC. Also, I've been paying it off at about $1000/m, and will probably do more once summer begins and I go back to work full time.

jfsimpson: moothemagiccow: im 23 and the only thing i owe money for is college. What the fark are you buying?

I'm 26 with 0 debt and around $90k in assets (earned, not inherited or given anything).

/investing not spending ftw
//dork

I'm 39, and last year I had a net worth of $600,000 (business, not house). In a month, I'll be filing bankruptcy.

Enjoy it while it lasts.

Psumek: /tough to buy a decent TV for under 1500

Good god! If I spend $1,500 on a TV, the damn thing better give me blowjobs!

I paid $200 for my TV. On Craigslist. Until I bought it, I didn't have a TV for... years.

But then I got a Wii.

And I'm not one of those "I don't watch TV" snobs. I just download all my TV off the Internet and watch it on my laptop.

Max Edison: I'm 39, and last year I had a net worth of $600,000 (business, not house). In a month, I'll be filing bankruptcy.

Enjoy it while it lasts.

Ouch... but seriously, that could be me! All it would take really is the stock market to get hammered.