How much debt is a lot? This was brought up at mommysavers.com and it is a really good question. It is so different for everyone. My answer was:
For me it is any debt. We are down to $46,493.15 on student loans and the idea of that suffocates me. Even with lower interest (3.5% to 6.375%), it is still owed and I want it gone. For some reason, my car debt ($15,859.98) doesn’t bother me though. I just don’t get it. The interest rate is 1.9%. Maybe it is because my parents always had car debt but never cc or student loan debt.
I find it really interesting that that is my answer. The other interesting thing for the student loan debt is that we have gotten rid of $3000 since talking to Suze Orman. Hopefully we can keep it going like this. Plus we are putting more in savings. Not as much as I was hoping but we have done a decent amount. We are probably going to hit our sink goal in the next two months.
