How much is an ok amount of debt? Currently im 21 making ~45k a year after taxes with ~15k in debt should i pay this off completly before thinking about a car loan
No keep piling on more debt.
$15k is too low, I think you can handle $40-50k debt for sure.
>>1103901
My man. I think as long as i dont take out a 100k mortgage ill ok
Being debt free is a /biz/ meme.
for each dollar of yearly income you should have 3 dollars of debt, so at 45k income you should have 135k debt for an ok amount of debt.
>>1103908
Tää
>>1103899
you should have others indebted to you
>>1103932
Thats even worse
>>1103934
poorfag detected
>>1103934
Explain why others owing me money is a bad thing?
>>1103940
because they'll owe interest and that's immoral :^)
>>1103940
Family/friends, statistically, don't pay back borrowed money
>>1103977
and if they dont pay, then there's a real chance of fucking up family relations/friendships.
Personally i sold my car to a cousin last summer. I was moving into the city,so having a car was too expensive for me. My deadbeat cousin have been late on payments like 5/7 months. Twice i've had to ask him "where in Gods name is the money" and " unless you fucking get with the times i am taking the car back."
it's not good for anybody when this shit happens.
>>1103996
Yeah my roomate owes me 70 for rent and like ~400 for a gun he got stolen
>>1103899
Never be in debt, my man. Pay the shit off before you get a car loan. You never know what might happen in the future.
Also, what do you do for work? Making $45k as a 21 year old seems pretty good.
>>1104018
Drive and operate a concrete placement truck
what do you do to make 45k at 21?
im still in college and im 21 making 12k barely. i just want to make money ;_;
>>1103977
I never said anything about family and friends owing me money.
I said something about people owing me money.
>>1104824
Yea as i said above i drive a truck but went to uni 1 year before bailing
>>1103899
>How much is an ok amount of debt?
$0.
>>1104890
Surprised it took this long
/thread
How do I become jewish? I want to take advantage of people like OP.
>>1104887
Do you do anything to counteract the unhealthiness of sitting all day?
>>1103899
>car loan
Buy a used car in full
>should I pay it off
If it's CC debt absolutely, if it's student loans then yes because it can't be removed in bankruptcy, if it's a business loan or mortgage then no.
Debt tolerance depends on the person and circumstances. I'm debt free (finally) and try my best to avoid it. But there are clear benefits to taking on debt if you have a defined use for it that'll yield some value in the future.
I personally discourage car loans because you're essentially purchasing a money pit/deprecation machine. Buy used and within your limits. Take out loans to start businesses or fund research, not a fucking new car.
>>1105082
Ps, infiniti's are ugly as sin.
>>1105009
Yeah kegals
>>1103910
:D tää niin vitusti
>>1103940
If someone goes to you for money it almost universally means he's been rejected by banks. There's a reason for that - try to think what it is.
If you didn't grasp it yet - people rejected by banks have a tendency to be very bad at paying money back. This can be a problem when it's your money.
>Buying a car new
You deserve more debt
>>1105082
meh. a used vehicle can bring its own set of fuck ups - i bought a used one and it looked fine, about 4 months later there were some fork problems and I had to pay out like $400 for repairs.
if you get it new you know exactly what components need replacing (none)
