Comments on: What are you worried about? http://www.punchdebtintheface.com/2009/11/what-are-you-worried-about.html A fun personal finance blog Sat, 11 Feb 2012 01:47:08 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Ronnie http://www.punchdebtintheface.com/2009/11/what-are-you-worried-about.html#comment-3221 Ronnie Sat, 16 Jan 2010 05:40:54 +0000 http://www.punchdebtintheface.com/?p=381#comment-3221 Age: 30 Income: $100,000, plus bonuses Savings: $1,000 Roth IRA: $4,995 Traditional IRA: $2,160 Credit Cards: $6,200 Car Loan: $9,661 Student Loans: get ready for it--$187,000 # of CC: 3 Burrito Habit: don't even wanna know It might seem silly that I think I'm doing well, but I do. I've paid off over $37,000 in debt since 2006, when my loans came due, and for most of that time on a substantially smaller salary. My work doesn't offer a 401k, but I'd definitely contribute if I could. I'll pay off the credit cards by August 2010, and hopefully the car by May 2011, and one of my small student loans at the end of the year. Thanks for your blog; I just found it and I really enjoy it. Age: 30
Income: $100,000, plus bonuses
Savings: $1,000
Roth IRA: $4,995
Traditional IRA: $2,160
Credit Cards: $6,200
Car Loan: $9,661
Student Loans: get ready for it–$187,000
# of CC: 3
Burrito Habit: don't even wanna know

It might seem silly that I think I'm doing well, but I do. I've paid off over $37,000 in debt since 2006, when my loans came due, and for most of that time on a substantially smaller salary. My work doesn't offer a 401k, but I'd definitely contribute if I could. I'll pay off the credit cards by August 2010, and hopefully the car by May 2011, and one of my small student loans at the end of the year. Thanks for your blog; I just found it and I really enjoy it.

]]> By: Mel http://www.punchdebtintheface.com/2009/11/what-are-you-worried-about.html#comment-2090 Mel Thu, 03 Dec 2009 18:38:27 +0000 http://www.punchdebtintheface.com/?p=381#comment-2090 Age: 32 Income: $40,000 (with bonuses & extras, I should make around $45,000 in 2009) Savings: less than $1,000 Investments: just started an IRA two months ago and have $500 in it. NO employer 401k or Investment matching *sigh* Debt: $27,000 (student loans, no completed degree), $13,500 (car loan) and $45,000 (mortgage - a worthless "underwater" condo and an even shittier management association) # of CC: 3 (total balance around $1,400 - my biggest goal this year was to pay these down! SUCCESS!) Alcohol Abuse: at least $2,000/year. I don't regularly eat burritos. Finally getting into the habit of doing automatic EFT with my IRA has instilled a habit of transferring $50 a week to savings as well. But, it just gets spent. After the credit cards are paid off, my "monthly payment" will go to savings. Goal for 2010. Age: 32
Income: $40,000 (with bonuses & extras, I should make around $45,000 in 2009)
Savings: less than $1,000
Investments: just started an IRA two months ago and have $500 in it.
NO employer 401k or Investment matching *sigh*
Debt: $27,000 (student loans, no completed degree), $13,500 (car loan) and $45,000 (mortgage – a worthless "underwater" condo and an even shittier management association)
# of CC: 3 (total balance around $1,400 – my biggest goal this year was to pay these down! SUCCESS!)
Alcohol Abuse: at least $2,000/year.
I don't regularly eat burritos.

Finally getting into the habit of doing automatic EFT with my IRA has instilled a habit of transferring $50 a week to savings as well. But, it just gets spent. After the credit cards are paid off, my "monthly payment" will go to savings.
Goal for 2010.

]]> By: Lizard http://www.punchdebtintheface.com/2009/11/what-are-you-worried-about.html#comment-1936 Lizard Mon, 23 Nov 2009 21:22:32 +0000 http://www.punchdebtintheface.com/?p=381#comment-1936 Age: me 28, hubby 30 Income (joint): $195,000 Savings: $45,000 401k (both): $70,000 Equity in house: $100,000 Debt (2 car loans): $28,000 Mortgage: $312,000 HELOC: $70,000 Age: me 28, hubby 30
Income (joint): $195,000
Savings: $45,000
401k (both): $70,000
Equity in house: $100,000

Debt (2 car loans): $28,000
Mortgage: $312,000
HELOC: $70,000

]]> By: Lorelei http://www.punchdebtintheface.com/2009/11/what-are-you-worried-about.html#comment-1933 Lorelei Mon, 23 Nov 2009 17:44:25 +0000 http://www.punchdebtintheface.com/?p=381#comment-1933 Age: 26 Income: $40500 Roth: $1800 401K: $2100 Savings: $2200 Checking: $450 Debt: $46000 ($6000 car, $40,000 student loans..thanks grad school) # of credit cards: 3 ($0 balance) Luckily I live with my BF so we split all living expenses now..I've been able to seriously pay down my car loan since we shacked up in july! It's funny..I am able to pay off debt comfortably(not as fast as I'd like, but I'm making progress), saving about 15% either in retirement or a savings account, and I feel like I make chump change! Age: 26
Income: $40500
Roth: $1800
401K: $2100
Savings: $2200
Checking: $450
Debt: $46000 ($6000 car, $40,000 student loans..thanks grad school)
# of credit cards: 3 ($0 balance)
Luckily I live with my BF so we split all living expenses now..I've been able to seriously pay down my car loan since we shacked up in july!

It's funny..I am able to pay off debt comfortably(not as fast as I'd like, but I'm making progress), saving about 15% either in retirement or a savings account, and I feel like I make chump change!

]]> By: Deraileur http://www.punchdebtintheface.com/2009/11/what-are-you-worried-about.html#comment-1928 Deraileur Sun, 22 Nov 2009 19:20:40 +0000 http://www.punchdebtintheface.com/?p=381#comment-1928 Hey Ninja! First off, I want to thank you for creating this people-friendly blog about personal finances. I've been perusing your entries for a couple days now getting ideas and courage (yes, COURAGE) to punch debt in the face. My budgeting strategies usually consisted of an ambiguous estimation of how much credit (I should be shot) I had available. The classic situation that paying it off later in smaller amounts instead of now felt safer for some reason. Honestly, looking at it directly, I was just being stupid and undisciplined with my cash and credit. Since I've never commented before, I'm going to put my information out there as a step to tackle my debt. Age: 26 City: San Diego Income: $56,000 Cash in Savings: a whooping $540 Percentage contributed to 401K: 12% (with 6% company matching) Debt: $28,000 ($7,000 CC debt, $20,000 Student Loans) # of credit cards: 8 (hangs head in shame - 3 CC, 5 Store Cards) Goal to pay off CC debt - Dec 2010 Annual Burrito Expense: $400 Rent: $520/month I am currently working with a good friend of mine to help me tackle my spending habits and paying off those credit cards. It is possible and I need to stop being afraid of my finances. I really appreciate what you've done here. Hey Ninja!
First off, I want to thank you for creating this people-friendly blog about personal finances. I've been perusing your entries for a couple days now getting ideas and courage (yes, COURAGE) to punch debt in the face. My budgeting strategies usually consisted of an ambiguous estimation of how much credit (I should be shot) I had available. The classic situation that paying it off later in smaller amounts instead of now felt safer for some reason. Honestly, looking at it directly, I was just being stupid and undisciplined with my cash and credit. Since I've never commented before, I'm going to put my information out there as a step to tackle my debt.

Age: 26
City: San Diego
Income: $56,000
Cash in Savings: a whooping $540
Percentage contributed to 401K: 12% (with 6% company matching)
Debt: $28,000 ($7,000 CC debt, $20,000 Student Loans)
# of credit cards: 8 (hangs head in shame – 3 CC, 5 Store Cards)
Goal to pay off CC debt – Dec 2010
Annual Burrito Expense: $400
Rent: $520/month

I am currently working with a good friend of mine to help me tackle my spending habits and paying off those credit cards. It is possible and I need to stop being afraid of my finances. I really appreciate what you've done here.

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