How much debt do you have?

puresavage

puresavage

Banned
Jul 21, 2009
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Whats up guys,

How much Debt do you have while running this business or have now?

I got currently 450.00 bucks lol
 


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jelf said:
If a charge card counts as debt... Then yes a lot.
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galacon said:
What else would revolving credit count as? Magic Unicorn monies?
Click to expand...

Actually, a charge card and revolving credit are two completely different things. Revolving credit (ie a credit card like Visa, MC, Discover etc) you can carry a balance from month to month whereas a charge card (ie American Express) is paid off at the end of the month, and therefore isn't considered revolving credit.
 
It's actually a good topic I think.

Most are indoctrinated to love teh credit score and max that bitch out, make their payments so they can get more, put 40K down on a house that's 250K and become a slave to the bank for xx years on top of their student loans etc, vs. saving on your own for 5-10 and buying it flat out or teaching people to build liquid/assets/invest properly and avoid credit.

Proud to have no debt, a mediocre 'could give a shit about' credit score, and liquid all around being a slave to noone. Granted until you get there using credit in your favor to flip for profit or to live off of a bit is the norm and sometimes works well too.

The monetary system of life, it breeds hate.
The honorary victims of hype, just get raped.
There's only one true form of success inside lifes gates.
To live your life eternally free (from credit/debt) in your own way.

Easier said than done but def. strive to stay debt free/out of the red asap and don't let credit fool you, it's the second best rebill (interest) in the world (next to tax).
 
$0

All cards get paid off every month.

Don't spend money you don't have or won't get before the end of the month.
 
I literally have $0 in debt.

Im making sure that habit never creeps back up on me ever in my life.

rubber band banks all day long.
 
I've lived off credit cards while starting businesses.

The first time, about 10 years ago I racked up 50k. Business started kicking ass, paid it all off. Then that business died unexpectedly.

The second time, about 6 years ago I racked up 60k, then realized I hated the business I was in. Kept at it until I nearly paid off the debt, then switched to another business - ran up 70k in credit card debt.

Do not use this as inspiration or a map. It fucks with your head to have thousands in bills and hundreds in income. What I did was reckless and each time I wondered how could I be so stupid?

If anyone reading this is buried in debt, here's how I got through-

Remember that it's the hard times that build character. What you do, and how you treat others while under that stress is who you really are. After all, anyone can be generous and nice when the times are easy.

No matter how far in debt you are, someone somewhere has climbed out of worse. Donald Trump in 1991: "I pointed to a homeless man and said, This guy is worth $900 million more than me."
 
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