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View Full Version : My Debt is Bigger than Your Debt



wheelchairman
07-04-2006, 04:48 AM
I just thought it would be interesting to see some of the credit history of bbs members here.

For example, my situation at the moment is quite miserable. I am in debt by 3,500 DKK which is the equivalent of
600 US Dollars
469 Euros
325 GB Pounds

Thankfully however, I will be getting paid 7000 DKK in ten days. Which means I will have no more debt again (hopefully never again.)

And owing your friends does not count as being in debt.

And now I've learned the value of accounting. You can be darn certain I will be keeping careful track of my spending once my credit card becomes useable again.

Tizzalicious
07-04-2006, 05:13 AM
You need someone to teach you how to shop ;)

I've never been in debt. I set my bank account so that I can't get into debt, but I do have a creditcard, but I always pay the bills right when they come in. When I first got it, everyone started telling me to "be careful", which is annoying, because I know what I can and cannot spend. Grrr. People suck. I spend a lot, but never more than I should.

Vera
07-04-2006, 05:34 AM
I have a debit card that sometimes allows me to make purchases for more than the money on my bank account even though that shouldn't technically be possible. But whenever it's happened, it's usually been just for like 20 euros or so and pretty soon I've gotten that sum on my bank account so it there's been no debt.

Lars
07-04-2006, 06:10 AM
I always only spend on my credit card what I already have in my account, so I know that I will be able to pay it off without going into debt or such, I don't want to ever pay their crazy interest rates.

My brother would spend on his credit card what he didn't have, so that his next months paycheck would pay that credit card bill that came in. I found/find that stupid.



Surely someone from here in the UK that goes to university can beat that? It seems that the loans they get is spent on everything except actual university things, at least that's what my experience in reading/hearing about from other people is.

Paint_It_Black
07-04-2006, 06:52 AM
I personally have no debt, but I would guess that several of my friends owe at least $20,000 for student loans.

offspringer24
07-04-2006, 06:56 AM
im about 150'000 pounds in debt, house car etc whats your beef?

Mr. Orange
07-04-2006, 08:24 AM
I owe someone 17$. That's it.

Rag Doll
07-04-2006, 09:40 AM
I'll have a bit of credit card debt when I come back from England. Cause I'm spending a lot while I'm there, but I won't be working for a month. Ah well. Currently, I have none. I pay all my bills in full the day they arrive in the mail. Everyone was convinced I'd end up in a ridiculous amount of debt because of my shopping habits...but I quite like proving them all wrong.

Student loans are another story. Right now, I'd say I owe roughly $5,000 in student loans. By the time I graduate (2 more years), I expect to owe around $12,000-15,000 in student loans. Then I'm going to law school. That will create roughly $120,000 in student loans by itself, as I'm not expecting much/any financial aid.

Nina
07-04-2006, 10:37 AM
I do have debts. After I've paid everything this month I'll owe like 70€ to the bank, which is never a problem. Then I owe my mom 40€ for the phone bill, and Björn 25€ for various other stuff. This might not sound like a lot but I dont have any money to get rid of these debts in the first place :( I hope I'll start to work soon. Then I wont have any debts, I would be able to pay it all at once and never worry again. boo.

Sunny
07-04-2006, 12:45 PM
i owe my phone company $100.. but the real kicker is that by the time i graduate i'll be 80k in debt.

BEAT THAT.

Paint_It_Black
07-04-2006, 04:03 PM
BEAT THAT.

I believe Rag Doll already did.

HornyPope
07-04-2006, 04:14 PM
You students and your loans.

If I ever go back to school, I intend to put myself through without anyone as much as giving or lending me a dollar. And living on my own of course. Then again i'm fortunate I can go to a good university here for 3000$ tution fees per year, books included. It sucks you Americans have the costs of higher education so rediculously out of control.

Sunny
07-04-2006, 04:30 PM
$40,000 a fucking year, bebeh. thank lord i get scholarships.. otherwise i'd be $160,000 in debt, and that's just NOT FUN.

you canadians. :(

HornyPope
07-04-2006, 04:34 PM
Why did you even go study in the States?

You can apply anywhere in Europe now for at least 20 times less that price. Like wtf!

wheelchairman
07-04-2006, 04:37 PM
I do have debts. After I've paid everything this month I'll owe like 70€ to the bank, which is never a problem. Then I owe my mom 40€ for the phone bill, and Björn 25€ for various other stuff. This might not sound like a lot but I dont have any money to get rid of these debts in the first place :( I hope I'll start to work soon. Then I wont have any debts, I would be able to pay it all at once and never worry again. boo.
Yeah that's how it *started* with me. Every month I would have enough to cover my debt, and just a *little* more. But then graduation expenses etc. pulled everything beyond that.

And I agree with Vlad, thank God I live in a country with free higher education. Thank fucking god. My friend wants to study in Australia, and is willing to take a 1/4 million DKK loan. Jeez.

Sunny
07-04-2006, 04:48 PM
Why did you even go study in the States?

You can apply anywhere in Europe now for at least 20 times less that price. Like wtf!

from what i've heard, there are no other design schools as good as parsons... well, there's st. martins in london, which, i believe, is pricey.. and parsons paris and parsons milan. whoops. ;/

HornyPope
07-04-2006, 04:53 PM
Well how much of a difference do you think would be between parsons and the next school? Fourty thousands, what they like teach you to fly there so you can reach the higher corners of a portrait?

the_offsprings_monkey
07-04-2006, 04:56 PM
I owe my mum £60 an my gf £44 so I owe £104 altogether.

HornyPope
07-04-2006, 04:58 PM
Awww now you'll never be able to buy a brain.

wheelchairman
07-04-2006, 05:00 PM
Which he could've used to read the first part of my post...

Sunny
07-04-2006, 05:02 PM
Well how much of a difference do you think would be between parsons and the next school? Fourty thousands, what they like teach you to fly there so you can reach the higher corners of a portrait?

a lot of employers in the field (at least in the US) give preference to parsons/sva/cooper union graduates. =p other design schools in the US are just as pricey (CalArts, sva, etc).

i'm not too worried about paying off the loans, though.

HornyPope
07-04-2006, 05:05 PM
Must be some federal regulation to protect home students from studying abroad.

Protectionism! Someone complain to the WTO!
i wonder if it's actually part of their charter. education. hah!

The shadow
07-04-2006, 11:35 PM
This is actually not of any interest for the ideas expressed in this thread, but I find funny the fact that I´m able to graduate in less than 5 years as an aeronautic engineer in a third world country for less than $150 a month, while you spend thounsands of dollars a year to study anything. Maybe everything has its price.

Betty
07-05-2006, 01:06 AM
Bah, you girls beat me... with your fancy schmancy schools. I currently owe about $17000 for a student loan through the bank (meaning I pay tons of interest on that amount monthly) and then about $5000 or so in government student loans (meaning no interest until I graduate so no worries for now).

And I have to pay off my credit card which is probably at $600 - $700.

But I'm earning money from now on so should be able to start chipping away at the amount. And if I don't pay it off by the time I'm done grad school, I'll be rich as soon as I start working so it's all good.

killer_queen
07-05-2006, 02:07 AM
Wait, you guys pay your student loans? Am I the only one who thinks the parents should pay them?

TheUnholyNightbringer
07-05-2006, 02:43 AM
I'll never own a credit card. I've seen too many people, including members of my own family, accumulate huge amounts of debt because of them - and anyway, I don't trust my own buying habits.

No doubt when I get to University I'll accumulate bajillions of pounds worth of debt. But right now, I owe my folks £20. That's it. And I get paid today, so.

Sunny
07-05-2006, 04:39 AM
Wait, you guys pay your student loans? Am I the only one who thinks the parents should pay them?

while i'd love for my parents and my parents in law to pay off our loans, it's just not happening. out of the people i know, ONE person is not expected to pay his student loans by himself. ONE. and that's cause it's doubtful he'll find a job well paid enough.

belen1979
07-05-2006, 10:20 AM
Wow... I'm still trying to understand why is it sooooooooooo expensive to go to university out there... How much it costs to study each year more or less?

Here, my fac is one of the most expensive as it's semi-private, and it costs me about 1000-1500€ a year (without meals and room, that, you have to look for an apartment or something). And I am wishing to finish because it's a whole amount of money here for studying...


Oh, and yes, here parents use to pay their children's studies, we don't use to get loans, unless you have special situation.

Izie
07-05-2006, 10:37 AM
Hah, I've never been in debt. I don't plan to be in debt as far as school is concerned, my parents will most likely cover my tuition, and it won't be a lot anyway.

As far as everything else goes... My mother used to give me her cheques so she wouldn't spend too much money. She'd give them to me, so I'd spend them on MYSELF, and I still didn't. I'm my father's daughter - good with money (yeah, that means semi-cheap).

And my parents currently owe ME about... 40 euros. Har.

Tizzalicious
07-05-2006, 10:40 AM
My mom owes me 50, ah I love it.

wheelchairman
07-05-2006, 10:46 AM
The train company owes me about 50. But I owe them about 15 and I won't be able to pay them until it's too late.

the_GoDdEsS
07-05-2006, 10:56 AM
Two years ago the EU kinda owed me 500 euros. I win. Hahaha.

Tizzalicious
07-05-2006, 10:59 AM
Nope, when I first started getting my Disability Allowance they owed me about €2000,- because I could have gotten it when I turned 18, and I didn't.

Betty
07-05-2006, 11:04 AM
Wow... I'm still trying to understand why is it sooooooooooo expensive to go to university out there... How much it costs to study each year more or less?

For me tuition is only ever $2000 - $3000 per semester, which REALLY isn't that much considering I was paying for 15 hours of class per week plus access to lab space and numerous expensive ressources and equipment (instruments in the hundreds of thousands, library subscriptions worth thousands, software worth thousands, chemicals worth thousands, etc.). Also some of that was fees for gym, student services, health insurance, free bus pass, etc. But chalk on rent for 12 months, textbooks, food, and then personal spending and it's about $14000 - $15000 to live each year. So if you don't work at all, which I didn't except for in the summer, that's a lot of debt to accumulate. And I knocked off a bunch with scholarships. So I really don't think it's unreasonable, at least in Canada, it's just hard to afford if you're not working. Hence the student loan system. And I clearly think it's a better deal for science students, especially someone like me who used a lot of lab ressources, but hey, that's a matter of life choices and wise investing. I'm sure somebody like Magdalena considers her education a good investment as well since she's doing something she (I believe) really enjoys and is gonna get a kickass job (and already does have some employment). Paying back the loans will be a drop in the bucket.


Wait, you guys pay your student loans? Am I the only one who thinks the parents should pay them?

For one, if my parents paid for me they would really be putting themselves on the line. They probably could've paid my way, or some of it, were they driving around in an old beat up hunk of metal, eating vegetables from the reduced rack, never renovating the house or yard, and totally abandonning my other three siblings (who are dumber and/or just haven't achieved the same grades and will not get as many scholarships and still want education)... but I don't want that. So it's my personal conviction that I don't WANT them to pay. The only thing that fucks that up is that government students loans are largely based on your parents' incomes regardless of the surrounding circumstances, therefore hello more expensive bank loan. It's a great feeling of independence and liberation and responsibility though. Since I was 18 I have pretty much been in charge of my own life. I pay my way through school, I take care of my own affairs, and my parents barely have any say in any of it because they have no right. They do help in a few ways though which I totally don't mind since I AM pretty broke. Like they still pay my driving insurance for the family vehicle, they support me through health/dental insurance through their jobs, they sometimes pay for me to travel back home, and have helped me out with moving and stuff, so I'm able to really appreciate all of that stuff.

Rag Doll
07-05-2006, 11:50 AM
School for me was around $10,000 last year. It's going to go up quite a bit this year because I go to a public university and the state is giving the university less money this year....so tuition goes up. If you dorm, it goes up around another $10,000 (getting an apartment in this area tends to be quite a bit more). And then add in food and books and all that other stuff...it's quite expensive. I get scholarships and grants to make stuff a bit cheaper...but not much. I was originally going to go to a private university in NYC ($33,000 a year, roughly, at the time...plus an additional $10,000 room & board and money for other stuff)...but they werent going to give me much financial aid and I didn't want to accumulate so much debt for undergrad. For law school, I'll be going to a private university (probably...not like it matters, even a state law school is really expensive). That'll cost around $40,000 a year for 3 years. And then I'll either be dorming or living in an apartment, because I don't want to have to make a big commute every day for classes. The US is really expensive for education. I think I pay around $300-400 per credit. 2 classes over the summer is costing me around $1,800 with the fees and stuff. bah.

yay
07-05-2006, 05:45 PM
I currently owe $1550 in Australian dollars on my credit card.

wheelchairman
07-05-2006, 06:01 PM
Wow that's twice the debt I have. How do you plan on paying that off? and how did you get it?

Tijs
07-05-2006, 06:48 PM
I'm currently rich for my doing. I have €540 ($691) hidden in my room somewhere and within two to three weeks I'll get another €340 ($435).

I'm going to do the exact same thing for vacation this year, except last year I've only spend €350 ($448). I'm lovin' it. No debts what so ever.

wheelchairman
08-02-2006, 01:49 PM
You know if I wasn't so employed, I would've applied for unemployment.

I'm bumping this cause I wanted to say that.

Harnum
08-02-2006, 01:53 PM
That post was bump-worthy =D I have no debt. It's great being 14.