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  • Originally posted by disneysteve View Post
    scfr was joking about an ongoing debate around here about what constitutes a debt.
    I was part of that thread.

    I'm with you. The utility bills are not debts as long as they are being paid in full and on time every month.
    We've had this disagreement before... Bills (which are liabilities) are "something owed", and debts are "something owed". Thus, bills are (very short term) debts.

    After all, if you don't pay your bill, the debt collector comes after you.

    Congrats on the mortgage!
    Thanks.

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    • Originally posted by Nutria View Post
      Final payment cleared the bank last night!!

      We now have a grand total of $37.67 in debt (all from CC charges yesterday).
      Congratulations Nutria! Fine achievement! I wish to join your ranks in the years to come.
      Kill the debt, before it kills you!

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      • Originally posted by Nutria View Post
        I was part of that thread.



        We've had this disagreement before... Bills (which are liabilities) are "something owed", and debts are "something owed". Thus, bills are (very short term) debts.

        After all, if you don't pay your bill, the debt collector comes after you.



        Thanks.
        This reminds me of when I had to call the water company about the water bill for our rental. I called it a utility bill. He said it wasn't it was a service invoice or something silly like that. I said it was a bill and he disagreed. But I have the most current 'bill' in front of me, it is called a utility service invoice and then proceeds to call it a bill in several areas and talks about different billing payment options. I don't know how that guy figured his budget for paying his bills or even why he felt the need to argue with a customer about the classification of the bill to anyone but himself, but I'm sure he didn't have it in a little box away from his electric, gas, garbage bills.

        If it walks like a duck, sounds like a duck, it usually is a duck.

        For me utility bills are debts especially when they are as big as ours can get.
        Gailete
        http://www.MoonwishesSewingandCrafts.com

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        • November 2017
          Mortgage payment: #7 of 349
          Extra applied to principal: $556.96
          Ending balance: $296,254.35

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          • As of our current statement, our mortgage has dropped below the 30K mark.
            Steve

            * Despite the high cost of living, it remains very popular.
            * Why should I pay for my daughter's education when she already knows everything?
            * There are no shortcuts to anywhere worth going.

            Comment


            • Originally posted by Randomsaver View Post
              Mortgage Principal : $67K
              Putting away some money to decrease mortgage debt. There is already some groundbreaking on my reserved lot. Soon, it's contract time.

              Mortgage Principal : $66K
              Kill the debt, before it kills you!

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              • Originally posted by markr867 View Post
                November 2017
                Mortgage payment: #7 of 349
                Extra applied to principal: $556.96
                Ending balance: $296,254.35
                Keep it going down markr867!
                Kill the debt, before it kills you!

                Comment


                • We're down to $10k now, expect to make the last payment August 2018!

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                  • 4 payments and we are down $6300 total. Keep on chugging.
                    LivingAlmostLarge Blog

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                    • I'm really grateful for this thread. You are all so motivational! I have a mortgage of $280k to pay off within 30 years. My aim is to have this paid off in 13 instead.

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                      • Congratulations on buying your first home. Being a homeowner is certainly a life milestone. Have you already moved in and settled? Delighted to offer suggestions on aggressively paying down mortgage in the early years when the balance between interest and principal are awry,

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                        • I stopped making higher extra payments. I decided to re-structure and pay off a different debt instead.

                          As of 11/18:
                          Primary Home = $57,759/$75,000
                          CC Debt = $0
                          2nd Home (inherited) = 94k Owed <--- Going to pay this off faster. After my brother and I split the price w/ our HELOCS. Currently waiting on them to close, so we can each owe 47K individually @ ~4%.

                          Steadily moving closer to debt free.

                          Comment


                          • Originally posted by MooseBucks View Post
                            Mortgage Principal - $172,167
                            Payments Left - 181
                            Been a few months since I posted but down to:

                            Mortgage Principal: $167,054
                            Payments Left: 174

                            Goal for end of 2018:

                            Mortgage Principal: $153,160
                            Payments Left:156

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                            • $1600 additional principal for December
                              Gunga galunga...gunga -- gunga galunga.

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                              • Originally posted by JoeP View Post
                                We're down to $10k now, expect to make the last payment August 2018!
                                Originally posted by LivingAlmostLarge View Post
                                4 payments and we are down $6300 total. Keep on chugging.
                                JoeP and LivingAlmostLarge -- Mazel tov! Looks like you are both debt-free by next year!

                                Originally posted by SavingMoneyGoals View Post
                                I'm really grateful for this thread. You are all so motivational! I have a mortgage of $280k to pay off within 30 years. My aim is to have this paid off in 13 instead.
                                Cool! Just be patient but also keep on it. It will happen.
                                Kill the debt, before it kills you!

                                Comment

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