Women's debt

[adahy]

Are there any single women over the age of 25 that don't have mammoth credit card (or otherwise) debt?? After discussing this w/ several friends and based on personal experiences, I have never met one. Many men probably have the same problem, but I don't date them.

 

My one friend's wife had 125k in miscellaneous debt when they got married...that's a house!!! They struggle. My last GF had over 40k in credit debt and my present one has over 75k. I don't have a huge income, live modestly, don't have a bunch of shiny things, and haven't used a credit card in over 8 years...I manage my money.

 

It just makes it hard thinking long term. I've worked hard to accumulate the money I have by sacrificing, and this would vanish the day I got married in order to pay off her debt. I don't believe in having separate pots of money (or separate debt) in a marriage, and I'm fine sharing. I know I sound selfish, but actually I'm more than generous to friends and family. I just can't help thinking if things don't work out, she makes out great (free ride out of her 75k debt + part of my future earnings)....and I've spent the last decade "saving" for nothing. Funny when I started accumulating some wealth, women were much more available.

 

I know we just need to get on the same page and all that financial-guru stuff. Basically, I'm just curious if there are ladies out there without massive debt...particularly credit card debt for miscellaneous junk???

[onewithbooks]

I have worked hard not to have massive CC debt. I would say my CC debt amounted to about 2000, and thats about 1,000 more than I am comfortable with. However, my income tax is coming in and my debt will go back down. I just want to say that 500 of that has come from the fact I just purchased a laptop. I try hard not to use my credit card, and I would like to go to a cash only basis, but I havent seemed to be able to do that yet.

[renaissancewoman101]

I don't have a lot of credit card debt. I went through the credit card debt problems in my mid twenties and I dug myself into a big hole. My parents helped me out of that and after that whole craziness, I swore off credit cards. I have a few hundred in credit card debt (like about $600), that's about it. All or most of what I spend now is mainly cash. I try to avoid credit cards because I know how addictive they can be. It was a lot easier to do that when I was living in Wisconsin since things were cheaper there and people there were very down the earth and hated getting into debt. Now that I live in CA, I find it harder to avoid debt, because people here have a spend, spend, spend mentality, and there is so much that you can spend on out here. I do have school loan debt about $30K, but since I am in school again, the loans are in deferment.

[adahy]

By the way, I saw a woman charge a pack of gum and a coke today...which prompted this post. Charging $1.80 cents?? I never see women use cash...maybe 3-5% of them.

[renaissancewoman101]

Sometimes people charge so they can get some cashback benefit or mileage points from their credit card. I have friends who do that, charge everything and then pay it off at the end of the month, so they can get mileage points on their card.

 

It's not unheard of.

[rocio]

I'm a 25 yr old female. I only use cash because I don't use credit cards and the fees they charge for using your debit card are outragous. I have student loans to pay off, but that's it. Soon I'll be getting a car and, eventually, a house so I guess debt is unavoidable. But credit card debt, nope.

 

Actually, I don't think most of my friends have debts either.

[anggrace]

I have twice as much money saved as I do on credit cards. I only use a card to gain credit. I really don't like the idea of spending money I don't have. My boyfriend has about 20x more credit card debt than me. But I haven't really worried about it. I have faith that he'll pay it off....in like 50 years.

[flower99]

By the way, I saw a woman charge a pack of gum and a coke today...which prompted this post. Charging $1.80 cents?? I never see women use cash...maybe 3-5% of them.

 

ha ha ha...that's funny

 

I'm a 24 year old women. I owe 6000 to student loans, from college.

And 1350 on credit card for gorceries while I was in school

and 1300 to bank for lawyer fees...for custody of my son

Totally.. I owe 8,650.00 I don't know if that qualifies for massive debt, but it is debt. It was all important things to me & worth it. No shiney objects

I suggest you do find a women that can manage her money, because that really is an important quality, especially consider you are skilled at that, you need a like minded women. They are out there

[adahy]

That would be terrible and it does worry me. Your upbringing, situation sounds similar to mine. I really am open to sharing, I just don't want to be foolish. I don't want to left middle-aged and starting from scratch like a 20 year old. We have to be realistic in this day and age.

 

Sorry if I sound sexist...but as I said, I don't date any men.

[Joneysnai]

I'm 30 and I don't own a single CC and I'm not in debt. LOL

[adahy]

ha ha ha...that's funny

 

I owe 6000 to student loans, from college.

And 1350 on credit card for gorceries while I was in school

and 1300 to bank for lawyer fees...for custody of my son

Totally.. I owe 8,650.00 I don't know if that qualifies for massive debt, but it is debt. It was all important things to me & worth it. No shiney objects

I suggest you do find a women that can manage her money, because that really is an important quality, especially consider you are skilled at that, you need a like minded women. They are out there

 

No, that sounds me normal to me! Some debt is to be expected. Life happens.

[tictactoe2006]

totally agree. you have to be on the same page financially as your mate. Personally, this is how I stack up:

 

$7500 car loan

$3000 credit card

$1250 student loan

 

All of this stuff should be down to 0 by the end of 2008 though.

[flower99]

I'm 30 and I don't own a single CC and I'm not in debt. LOL

 

Sweet!! good job (:

Adahy...here's your women

[rocio]

From my own observations, and I know this is going to be sexists (as any gender generalisations are) but I think women tend to shop more, but are better at handling that debt. For example, they are more likely to be sure to make their minimum payments or to shift debt from a high-interest card to a low-interest card. Men don't normally tend to shop so obsessively, but they can rack up huge amounts on purchases like t.v.'s and playstations. And they are more likely to miss their payments and manage that debt poorly.

 

of course, these are just generalisations and I'm sure there are plenty of exceptions to disprove my theories

[adahy]

Sweet!! good job (:

Adahy...here's your women

 

Ha...if I was only so lucky.

[adahy]

From my own observations, and I know this is going to be sexists (as any gender generalisations are) but I think women tend to shop more, but are better at handling that debt. For example, they are more likely to be sure to make their minimum payments or to shift debt from a high-interest card to a low-interest card. Men don't normally tend to shop so obsessively, but they can rack up huge amounts on purchases like t.v.'s and playstations. And they are more likely to miss their payments and manage that debt poorly.

 

of course, these are just generalisations and I'm sure there are plenty of exceptions to disprove my theories

 

Yeah, the guys I know don't manage it too good.

[kellbell]

Hey there,

 

I totally agree 100% with Hazey Amber's observations. I have seen more times than not men rack up a huge amount of debt and then IGNORE the creditors or the payments. BOTH my brothers did it, two of my ex boyfriends did it, a few of my friends' husbands did as well.

 

Yes, women shop more, rack up debts but IMO, they tend to manage money a bit better and at LEAST pay the mimimum payments every month. Of course, this is my OWN observation and not concrete facts.

[Grosse vache]

I'm 26 and the only debt that I have is my student loan and that gets paid back through my paycheck. I pay into a pension and when my pay goes up in March I plan on starting a high interest savings account as by then I'll be able to afford to do so.

 

I do own a credit card but I use it very occasionally.

[Portage]

No debt here. I was always taught how to budget from a young age and teach my seven yr old the value of a dollar

 

I still indulge but keep it manageable

[orion]

Many men probably have the same problem, but I don't date them.

 

Interesting...

[EvaGina]

im 23, I have no credit card and never will.

I have $1000 back loan (nz$ remember) and about 20 grand in student loans... oops...

[Batya33]

I had credit card debt for a few months in 1994 - and not much - and because I just finished graduate school. The only other debt I ever had was school loans, which I paid off in 1997. No debt since and I am 40.

[Momene]

I don't see it as a male/female divide. The cost of living keeps going up and so do people's expectations. The consequences of my debt is that I'll probably never be able to retire.

[lizziebee]

I would love to speak out on this topic but the thing is is that this is the place I come to be honest, from the heart, totally nekkid and I am afraid the feds might catch on!