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How much debt are we in chat?
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23
upvote 17 downvote
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Anonymous 1d

I’ve got like $15k left, been working my ass off lol I was hoping to clear it at 30 but it’ll probs take a little longer

upvote 10 downvote
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Anonymous 1d

4k

upvote 10 downvote
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Anonymous 1d

£0, debt is stupid

upvote 8 downvote
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Anonymous 1d

Just went debt free!!🎉🍾

upvote 8 downvote
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Anonymous 1d

I just bought a business. I am now $1.75 million more in debt than last week. If you add in what’s left on my mortgage I am $2.15 million dollars in debt.

upvote 6 downvote
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Anonymous 1d

$5,500 😭 I just washes save for a nice vehicle

upvote 5 downvote
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Anonymous 1d

30k :(

upvote 1 downvote
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Anonymous 1d

$60k. Which is fine because that’s my car loan and my mortgage

upvote 1 downvote
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Anonymous replying to -> #4 1d

Congratulations on the business.

upvote 19 downvote
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Anonymous replying to -> #6 1d

Thank you 🙏

upvote 1 downvote
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Anonymous replying to -> #4 1d

Your business better be selling mf coke to make up the $1.75 MILLION in the hole?!

upvote 8 downvote
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Anonymous replying to -> #8 1d

It’s a home services company. It currently does around 2.5 million per year and growing steadily. Depending on how you manage everything it can net between 18 and 23 percent.

upvote 2 downvote
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Anonymous replying to -> #3 1d

Do you not have debt?

upvote 3 downvote
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Anonymous replying to -> OP 14h

No, why would I get myself into debt? 😂

upvote 3 downvote
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Anonymous replying to -> #3 14h

There is “smart debt”. Every rich person uses it.

upvote 4 downvote
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Anonymous replying to -> #4 13h

Smart debt has 3% or less. Try not to get scammed by believing in anything higher than that!!!

upvote 0 downvote
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Anonymous replying to -> smiles 12h

That’s not true at all and that’s not the process either.

upvote 6 downvote
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Anonymous replying to -> #4 9h

I went debt free, did you??

upvote 0 downvote
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Anonymous replying to -> #4 8h

Not every ‘rich’ person, it’s possible to grow organically while remaining within one’s means

upvote 1 downvote
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Anonymous replying to -> #3 8h

Of course. But the idea that all debt is bad is ludicrous. There’s more than one way to use debt smartly. The business I mentioned buying @ 1.75 million I spent ZERO dollars on to purchase. The debt is coming from 3 strategic sources all structured a different way. All but 750,000 of that is unsecured. And the 750k that is, is through a surety bond I only have to keep for 3 years. I have ZERO personal risk on 1.75 million and I didn’t lay out a dollar.

upvote 4 downvote
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Anonymous replying to -> #4 8h

Sounds like a real dream come true!!

upvote 8 downvote
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Anonymous replying to -> smiles 8h

Thank you! It’s not going to be all peaches and cream. But my dream of significant business ownership has come true.

upvote 4 downvote
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Anonymous replying to -> #4 7h

I am happy for you.

upvote 1 downvote