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Is It Normal To Be In Debt In Your 20's? (Are You In Debt?)


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I have a credit card that I put all my bills on and pay off every month. It really helps to build credit doing that. I have a car loan that I don't have to have. I could pay it off now, but I have the loan because it's building my credit to pay on time every month. I have minimal debt and I like to keep it that way.

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My ex wife ran up a credit card in my name before we divorced. She never made payments on my medical bills. After the divorce. I had paid off to almost 7 thousand dollars in bills. My medical bills, lawyer fees, and that credit card she maxed out. 

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I think it's pretty normal, depending on where you live/what the debt is for. My parents gratefully supported me through uni, so while I have debt from my tuition, I didn't have to take more loans out for my living. I also worked throughout so mostly made it work. I didn't live very frugally though, which I don't regret, but it meant that when I left university I was £2k in my overdraft. It took me almost 3 years to get out of it, living in the capital city, the cost of living is very expensive, and earning graduate wages it was hard to save more than what I was spending.

2 years later I have £10k saved away and saving for a house, so definitely on the way up! My advice would be to work hard, keeping climbing the career ladder so you have new opportunities with higher salary, and then have a savings account that you can put money aside to pay off your debts and then start saving your money away.

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4 hours ago, Terminated said:

My ex wife ran up a credit card in my name before we divorced. She never made payments on my medical bills. After the divorce. I had paid off to almost 7 thousand dollars in bills. My medical bills, lawyer fees, and that credit card she maxed out. 

Oof I feel you there. I’m in a similar situation. Lucky for me I didn’t marry them since a divorce would have probably made it even worse. Still paying off that mess but if I keep to the grindstone I’ll be out of debt in 3 years

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23 minutes ago, Ghostie said:

Oof I feel you there. I’m in a similar situation. Lucky for me I didn’t marry them since a divorce would have probably made it even worse. Still paying off that mess but if I keep to the grindstone I’ll be out of debt in 3 years

Probably would have been worse because of "marital rights" and those are a b*itch. It really depends on what state you live in. 

She was complaining about having to sign the divorce papers, most because I wasn't giving her full custody. I signed us up for joint custody. She gave me crap about it..... until I reminded her that she was the one who begged for the divorce. So for fun I brought up marital rights.  My lawyer told me this by the way.  If she ever bought a car or a house and wanted to trade those things in or sell them off, I'd have to sign off on both of them, because of marital rights in Missouri I would have rights to those things. But not if she was divorced. Knowing this, she  came in and quickly signed the papers that my lawyer had laying out for her and within 3 weeks, the judge signed them in office, & she had the divorced she so badly wanted. She didn't pay a dime for any of it. I did. 

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