How many non-deductible loans do you have?
- Thread starter spludgey
- Start date
Agreed. It is a very disciplined crowd here. Positive to see.
Or a bunch of liars (either in the poll or on the tax return).
I'd say there's lots of investors here who have a paid off PPOR, or rent while they invest. These people wouldn't have non-deductable (bad) debt.
My wife and I don't believe in credit cards. There's a saying ' If you don't have that big of a head don't wear that big of a hat'
So funny, I really like that one
Had 5 but paid 2 off this month with the proceeds of selling a flat so only 3 more to go ..
My wife and I don't believe in credit cards. There's a saying ' If you don't have that big of a head don't wear that big of a hat'
Good point but I love credit cards.
They pay me to use them (points) and I get to use their money for 55 days.
Can't beat that.
Only works if you have self control and pay them off each month (which I do).
UGH we have 5. 4 credit cards and a personal loan. All racked over the last 4 years while trying to keep our properties after we nearly went belly up in the GFC. Long, long story there, but we are finally starting to make headway and hope to have 4/5 paid off by the end of 2015, no mean feat considering the total over the 5 is $100,000
As I have a big wedding coming up in Jan next year, just took out a LOC to provide a buffer if required. ATM, still have the PPOR (which will be IP next year) in addition to now 3 x credit cards with limits totalling $49k.
1 x card I dont use, it is my primary however
The other 2 cards I took advantage of CBA's promotion of 0% for 10 months on purchases. So have used these two cards for various purchases for said wedding, and to live on whilst I hoard funds in an offset account. Happy to disclose figures as this is an investment forum. So ont he two CC, I have current debt exposure of $31k, and have $24k in cash. As the first cc's 10month promo finishes around May, I have forecasted I wil be around 3-5k short in order to pay it off completely. To avoid this shortfall, I've set up a $70k LOC which will help us out with cash buffer, and will start buying parcels of shares next year eventually too!
1 x card I dont use, it is my primary however
The other 2 cards I took advantage of CBA's promotion of 0% for 10 months on purchases. So have used these two cards for various purchases for said wedding, and to live on whilst I hoard funds in an offset account. Happy to disclose figures as this is an investment forum. So ont he two CC, I have current debt exposure of $31k, and have $24k in cash. As the first cc's 10month promo finishes around May, I have forecasted I wil be around 3-5k short in order to pay it off completely. To avoid this shortfall, I've set up a $70k LOC which will help us out with cash buffer, and will start buying parcels of shares next year eventually too!
