https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Thu, 30 Apr 2026 06:28:06 +0000 https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472340 Wed, 24 Feb 2016 09:49:35 +0000 ShootingStar 2472340@https://boards.hellobee.com/ <p>I'd say debt free is no loans, including mortgage. But I think it makes more financial sense in a lot of cases to carry a mortgage versus paying rent. </p> <p>Consumer debt-free is another story. Next month we're paying off our car and our mower/snowblower and I'm very excited :). </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472226 Wed, 24 Feb 2016 08:56:56 +0000 yoursilverlining 2472226@https://boards.hellobee.com/ <p>@Mrs. Lion: come to think of it, I'll have my mortgage paid off at 50 too (only because we refi'd to a 15 year term!), so maybe 50 wasn't a great example number :silly: but when down payments are $75k+ in my area (and much more in other places!), I don't know anyone in their 30's or 40's without a mortgage who isn't very, very wealthy - that's why I keep mortgage separate in my mind since it seems so insurmountable! :silly: </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472155 Wed, 24 Feb 2016 07:51:41 +0000 Mrs. Lion 2472155@https://boards.hellobee.com/ <p>@yoursilverlining: we are far from insanely wealthy, but we would still like to have our mortgage paid off by the time we are 50! Probably not much before though haha :grin: </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472106 Wed, 24 Feb 2016 03:39:06 +0000 808love 2472106@https://boards.hellobee.com/ <p>No loans, no mortgage. :happy: </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472092 Wed, 24 Feb 2016 00:32:17 +0000 Sapphiresun 2472092@https://boards.hellobee.com/ <p>I usually say we're consumer debt free, since we have nothing but a mortgage. But I would consider someone debt free if they had a positive net worth, even if they had a mortgage. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472081 Tue, 23 Feb 2016 23:34:46 +0000 FancyGem 2472081@https://boards.hellobee.com/ <p>To me it means having $0 debt. Hopefully we will have student loans and credit card bills paid off within 5 years. We plan to purchase our next cars cash or with 2 year loans (which is no time soon). We will not be completely debt free for a while since our house is fairly new and we have a 30 year mortgage. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2472071 Tue, 23 Feb 2016 23:22:01 +0000 808love 2472071@https://boards.hellobee.com/ <br /><p><i>This comment has been deleted by the original poster.</i></p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2471150 Tue, 23 Feb 2016 11:55:20 +0000 stiletto_mom 2471150@https://boards.hellobee.com/ <p>@Anagram: yes. I've included a personal mortgage as debt. But investment mortgages I wouldn't could personally. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2471071 Tue, 23 Feb 2016 11:20:48 +0000 yoursilverlining 2471071@https://boards.hellobee.com/ <p>To me it means everything but a mortgage. Mostly because with housing prices being what they are in most places, I can't imagine anyone not insanely wealthy under the age of like 50 without a mortgage. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2471068 Tue, 23 Feb 2016 11:18:10 +0000 Anagram 2471068@https://boards.hellobee.com/ <p>@stiletto_mom: I think a personal mortgage is consumer debt, too. All it takes is a major housing slump or interest rates rising and then housing prices go down. If it's not paid off, people are financially vulnerable to the housing market, to death/illness/divorce/loss of income (unless they have the money elsewhere that they could pay it off in a lump sum if needed). </p> <p>We have a personal primary mortgage and I totally consider it debt. For us, it's necessary debt...but still debt. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2471038 Tue, 23 Feb 2016 11:00:56 +0000 stiletto_mom 2471038@https://boards.hellobee.com/ <p>To me debt free means consumer debt free.</p> <p>Investment debt is a different creature.</p> <p>I. Personal mortgage on a primary residence = consumer debt. But mortgages on property that generate income would not count for me. Especially if that can be transferred to a corporate entity later on. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2470991 Tue, 23 Feb 2016 10:38:22 +0000 Mrs.KMM 2470991@https://boards.hellobee.com/ <p>Debt free to me means no debt at all. No mortgage, no student loans, no car payment, no CC debt, etc. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2470464 Mon, 22 Feb 2016 19:32:20 +0000 MrsBeluga 2470464@https://boards.hellobee.com/ <p>For me owing nothing excluding the mortgage. We live in CA where houses are pricey, and if you buy low and sell high, its more like an investment than a debt, at least to me. That and we will likely have a mortgage for the next 25 years :(. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2470419 Mon, 22 Feb 2016 17:47:05 +0000 BadgerMom 2470419@https://boards.hellobee.com/ <p>This is interesting. I had no idea people used the term debt free when they still had mortgage debt! That makes so much more sense now on why everyone wants to be "debt free." My goal has never been to be "debt free" because I always thought that meant literally NO DEBT WHATSOEVER and I see a mortgage as good low-rate debt which I have little interest in paying off early. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2470404 Mon, 22 Feb 2016 17:27:39 +0000 Modern Daisy 2470404@https://boards.hellobee.com/ <p>When people say they are "debt free" I assume they mean everything other than a mortgage. It's not a question of secured vs unsecured, it's just that having a mortgage is so common and makes financial sense for most people, that getting rid of it would be too significant to be a requirement of being considered debt free. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2470394 Mon, 22 Feb 2016 17:12:12 +0000 Mrs. D 2470394@https://boards.hellobee.com/ <p>We currently have no debt aside from a small amount currently on our credit card. (Everything else was wiped in in 2012.) And it's only there because we are trying to build credit in order to qualify for a mortgage this fall. Our SUV is also a 2007, so it's only a matter of time before we have car payments again. Hopefully we'll be in a house then since our mortgage will be less than we're paying for rent and we will be able to budget a car payment. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you/page/2#post-2470387 Mon, 22 Feb 2016 17:06:22 +0000 daniellemybelle 2470387@https://boards.hellobee.com/ <p>Truly debt free - owe no one nothing at all. </p> <p>On the Dave Ramsey show people call in and do the "debt free scream" if they still have a mortgage but have paid off everything else. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470343 Mon, 22 Feb 2016 16:28:31 +0000 mrbee 2470343@https://boards.hellobee.com/ <p>I don't consider debt secured by collateral to be in the same category as unsecured debt! Especially if the underlying asset is a good one (a good house with strong value, a good car that has strong resell value, etc.).</p> <p>Debt-free to me personally means no unsecured debt... plus you're living within your means and paying down your secured debt. But I recognize that you can't be truly debt-free if you have even a little secured debt! </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470329 Mon, 22 Feb 2016 16:14:56 +0000 Bao 2470329@https://boards.hellobee.com/ <p>Owing nothing, even mortgage. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470321 Mon, 22 Feb 2016 16:01:03 +0000 PurplePumps 2470321@https://boards.hellobee.com/ <p>Debt free means positive net worth to me. If I hold a mortgage at an insanely low rate and decide not to pay it off b/c I think my money is better off invested, I don't see my mortgage as true debt. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470320 Mon, 22 Feb 2016 15:59:31 +0000 Mrs. Lion 2470320@https://boards.hellobee.com/ <p>Truly debt free would mean no debt at all. Car loans, mortgage loans, and student loans are still loans. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470294 Mon, 22 Feb 2016 15:35:57 +0000 SugarplumsMom 2470294@https://boards.hellobee.com/ <p>Debt free to me means no consumer debt and no student loans. I don't consider a mortgage a part of that unless it's not your primary residence. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470249 Mon, 22 Feb 2016 14:58:29 +0000 pinkcupcake 2470249@https://boards.hellobee.com/ <p>My definition of debt free - whether right or wrong - is no debt whatsoever except mortgage. Student loans are def a huge debt to me (and our only debt aside from<br /> Mortgage). I am going to be thrilled when mine are paid off! They are by far the biggest expense I have each month (minus mortgage). </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470232 Mon, 22 Feb 2016 14:42:35 +0000 PawPrints 2470232@https://boards.hellobee.com/ <p>True letter of the definition means no debt whatsoever. But most financial planners will group debt into different categories, with mortgage being different from other debt. In my mind, debt free means nothing but mortgage. No student loans, no financed purchases (incl vehicles), etc. We strive to stay debt-free by that definition. Plus we also put a lot of emphasis in our budget on paying down our mortgage faster than we have to. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470204 Mon, 22 Feb 2016 14:23:12 +0000 Alivoo01 2470204@https://boards.hellobee.com/ <p>I consider a mortgage as a debt, even if it's a good kind of debt, like a car.</p> <p>I don't consider credit cards a debt if you pay them off monthly. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470201 Mon, 22 Feb 2016 14:20:22 +0000 Cherrybee 2470201@https://boards.hellobee.com/ <p>When I say it is my intention to be debt free, I don't count my mortgage! I guess I feel that my mortgage isn't really debt because the house is worth more than the amount we owe the bank so we are kind of in the black there..... :silly: </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470197 Mon, 22 Feb 2016 14:18:18 +0000 gingerbebe 2470197@https://boards.hellobee.com/ <p>Debt free means no mortgage to me, but I could live with a mortgage payment IF it was a reasonable payment. There's a lot of house poor people in this country! </p> <p>I'm 35 years old in April and my goal is to be debt-free but the mortgage by the time I'm 38, 40 at the max. We just paid off one law degree and are working on DH's now! I really want to be totally mortgage debt free by the time I'm 50 so we can be in a good position to help our kids pay for college. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470191 Mon, 22 Feb 2016 14:13:41 +0000 LovelyPlum 2470191@https://boards.hellobee.com/ <p>@winniebee: yes, I almost consider my loans in the same vein as a monthly utility, like rent or mortgage. We have a small mortgage in student ooans, and we will be paying them off for a while. But it has helped us stay afloat in grad school, so it is another living expense to me. It will be annoying, but whatever. As long as I can get on a repayment plan, it is what it is. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470188 Mon, 22 Feb 2016 14:12:55 +0000 catgirl 2470188@https://boards.hellobee.com/ <p>I've been thinking about this a lot recently. DH and I are currently debt free. I have never had any debt, DH had some student loans but he paid them off a year after graduating. We are scheduled to close on our first home next month and I am really struggling with the huge debt that will be. </p> <p>To be truly debt free means no debt of any kind but I think when most people say it they are not considering their mortgage. </p> https://boards.hellobee.com/topic/what-does-debt-free-mean-to-you#post-2470183 Mon, 22 Feb 2016 14:09:34 +0000 LovelyPlum 2470183@https://boards.hellobee.com/ <p>I think there are different kinds. Truly debt free means nothing at all owed, but no consumer debt is the first thing that comes to mind for me. I would be happy with that first :happy: </p>