How many of us are 100% debt free?

[Redraidernurse]

Does it count if you could be debt free but you choose to invest instead of pay off the mortgage? We have about double the remaining mortgage invested.

[sjmey]

Pick me, with hand held Hi

[EEinNJ]

I am. Completely. Debt-free.

[herdjohnson]

Yep! Paid off my car on Friday. I have debt on my credit card but I pay it off every two weeks - just use it for the rewards.

[rennigade]

Yes.

Also, who do people not consider a mortgage to be debt? If its still a bill you're paying off how can it not be debt?

[feh]

Debt-free here.

IMO - if you have a mortgage, you aren't debt free.

[Blessed]

Yes.

Also, who do people not consider a mortgage to be debt? If its still a bill you're paying off how can it not be debt?

I meant having no debt and that includes the mortgage when I posted the question. I guess I should have specified. I had no idea people might consider " debt free" to be everything but the mortgage.

[Blessed]

Yep! Paid off my car on Friday. I have debt on my credit card but I pay it off every two weeks - just use it for the rewards.

Way to go!! ! I put alot on my card for the rewards also and just pay in full.

[p_wyt_12]

Hands down We have no mortgage but I'm not debt free for just a few bucks. I'm working my all to pay if off this year though. Hopefully next year would be debt free!

[Blessed]

Hands down We have no mortgage but I'm not debt free for just a few bucks. I'm working my all to pay if off this year though. Hopefully next year would be debt free!

You can do it! At least for me personally it is a sense of peace like no other.

[Ramose]

I believe people don't consider mortgages debt because they see it as an investment. If you had a 5% loan on an investment that was making 10% and was worth more than the loan you may not consider yourself to be in debt because you make more money with the debt than without and you could pay it off by selling your investment. The term I hear for this type of debt is 'good' debt.

[feh]

I believe people don't consider mortgages debt because they see it as an investment. If you had a 5% loan on an investment that was making 10% and was worth more than the loan you may not consider yourself to be in debt because you make more money with the debt than without and you could pay it off by selling your investment. The term I hear for this type of debt is 'good' debt.

A mortgage is clearly debt. It's money that has been borrowed that must be repaid; that is the definition of debt.

If folks want to compute their net worth and list their house as an asset, that's fine. But the mortgage should also be listed as a liability.

There's no such thing as "good" debt, as I'm sure all the people that are underwater right now would attest to.

[Blessed]

A mortgage is clearly debt. It's money that has been borrowed that must be repaid; that is the definition of debt.

If folks want to compute their net worth and list their house as an asset, that's fine. But the mortgage should also be listed as a liability.

There's no such thing as "good" debt, as I'm sure all the people that are underwater right now would attest to.

I agree. It is not so easy now days to say I need the money and liquidate a home ASAP. Also over time yes houses seem to have gone up in value but from the 80's until the crash was a crazy crazy climb like no other in history. Previously the rise in values had been slow and steady. Home values climbed faster than the rise in income from the 80's until the crash and that hadn't happened before. I personally would never expect that rate of return on a house we saw from the 80's until the crash as a normal thing.

[bennkar]

You can add me as 100% debt free since early this year, though I could have paid off the last debt about a year earlier if I had been determined. Considering my net worth was about $0.00 15 years ago, I'm proud to say I have not only a paid off house, but decent investments (a few hundred thousand) and a pension Not having any large payments each month is a great thing.

[Bryan Cranston]

Debt-free, and I believe creditworthy all the same.

Some would twist their indebtedness to mean that banks are willing to extend them credit, which makes them somehow financially responsible.