jfields 0 #1 June 2, 2003 I've been wondering about skydivers and debt, so I figured I'd start a specific thread on it. It seems like skydivers are less financially responible than average. That isn't based on numbers, but just the feel of the forums. I've seen people complaining about debt a fair amount. I have also seen people mention they were thinking about buying a rig beyond their means get told, "You only live once. Charge it." [somewhat off-topic] One person in particular comes to mind. The person basically came on the boards begging for money for rent, which people chipped in. Later, it came out that they had a number of high-dollar luxury items that they weren't willing to part with, preferring to ask others to cover their shortfall. Usually, people's finances are their own business, but the grovelling was a bit much for me. [/somewhat off-topic] Anyway, do you carry a large amount of revolving consumer debt? (Credit cards & store accounts, not things like mortgages.) Are you a "pay the minimum monthly" person or a "pay it in full each month" person, or somewhere in between? Is skydiving something you shouldn't really be able to afford, and you do it anyway? I know that I started jumping at almost age 30, so I have a more established job than those in their late teens and early 20s. I couldn't have really afforded to jump when I was that age. I'm just curious about how we stand with our debt load, compared to the average whuffo. Quote Share this post Link to post Share on other sites
AggieDave 6 #2 June 2, 2003 QuoteOne person in particular comes to mind. The person basically came on the boards begging for money for rent, which people chipped in. Later, it came out that they had a number of high-dollar luxury items that they weren't willing to part with, preferring to ask others to cover their shortfall. Usually, people's finances are their own business, but the grovelling was a bit much for me. Good memory, I was wondering who all still remember that. That entire ordeal still bugs me to this day. Debt. Oh god, let me tell you about the student loans I'm going to have to start paying back at some point. That and I bought my gear on credit, atleast I've got that about half way paid off now. So to answer your question, I'm more of a pay what I can above the minimum monthly type of guy, so to get it paid off sooner. I generally can't afford to pay it all off at once, but I try. That's also why I work at a DZ. --"When I die, may I be surrounded by scattered chrome and burning gasoline." Quote Share this post Link to post Share on other sites
jerm 0 #3 June 2, 2003 used to have a bunch of it... paid off ~9K of it (as well as my car loan) last year... finished it all off this winter just in time to get laid off, but unemployment, packing and other cash-jobs should keep me off the plastic...... i never wanna go back... use it as cash and pay if off, sure.. but it sucks to have it hanging over yer head.. Landing without injury is not necessarily evidence that you didn't fuck up... it just means you got away with it this time Quote Share this post Link to post Share on other sites
SkyDekker 1,465 #4 June 2, 2003 I had some credit issues in th past, but got out of that. Now I carry no balance on either credit card and my line of credit is untapped. Have actually saved money all year to build up a little stockpile for the summer jumping season. I like not having any debt. Quote Share this post Link to post Share on other sites
mccordia 74 #5 June 2, 2003 I don't have a debt, other then an occasional 400 bucks that I'm 'short' on my bank-account. But usualy it's just an issue of income/spending not being completely synchronised... Like last week...I was broke (already a bit below 0), salary wasn't due for another week, but still I went ahead and did about 15 jumps (next the stuff like gass and such).. But today I get my new salary and everything will be fine again..My bank also doesn't allow me to be more then 400 bucks 'short' I've been asked to raise it to 2000 bucks...and although it might come in handy jumping-wise, I'm not going there...it will only make it easyer to get into debt.. But in general I do agree...skydivers often spend money a lot easyer then normal people... Also with a skydivers birthday...friends and family give a 10 buck present, but skydiving buds often chip in for 20 bucks or so....it's money you usualy spend 6 times a day when you jump with somoene..why be a cheep-ass when it comes to a birthday...JC FlyLikeBrick I'm an Athlete? Quote Share this post Link to post Share on other sites
Swoopyswoop 0 #6 June 2, 2003 I have no credit cards(that I use anyways), no car payment, no mortgage payment, and not even a checking account. I do have however, a truck, a house, a boat, 2 motorcycles, and a savings account. I have never been to college so no student loans or anything like that. I have just found it much easier in life to work full time and pay cash for all my goodies. But sometimes its hard to fight that urge when you see something to just go charge it instead of saving a little while and just paying it off. There are a lot of jumpers who are financially irresponsible and dont care as long as they get to jump. Many of jump tickets are purchased each weekend with a credit card instead of cash and they end up paying 10-12 percent interest on top of that and sometimes more. Just doesnt make sense to me "when I die, I want to go like my grandfather while im sleeping, not like the passengers riding in the car with me Swoopster A.S.S. #6 Future T.S.S holder Quote Share this post Link to post Share on other sites
wmw999 2,534 #7 June 2, 2003 Low but not non-existent credit card debt. I charge airline tickets and trips, so sometimes it gets up, but at its highest it's never been more than about 5% of what I make in a year. No car note, and I owe only 4 1/2 more years on my house. I borrowed money for gear from my 19-year-old son. Wendy W.There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown) Quote Share this post Link to post Share on other sites
SkymonkeyONE 4 #8 June 2, 2003 While I do carry a substantial amount of unsecured debt, I personally don't care. I own an awful lot of stuff outright and live a simple existence now. The money I make skydiving more than provides for all the beer I can drink and any gear I might want. My pension makes it so that I really don't even need to "work" at all. I just choose to do so because it's what it's what I ought to be doing. Quote Share this post Link to post Share on other sites
jfields 0 #9 June 2, 2003 If you know your financial situation and can handle things, that works. QuoteI really don't even need to "work" at all You need to take my money for some canopy training at Raeford sometime, since the wusses at Perris will all be unavailable when I'm going out there this month! Quote Share this post Link to post Share on other sites
flyangel2 2 #10 June 2, 2003 I have one credit card and when the bill comes I pay the balance. I figure, if I can't afford it then I don't buy it. It's not worth the headache of having a balance owed on a credit card.May your trails be crooked, winding, lonesome, dangerous, leading to the most amazing view. May your mountains rise into and above the clouds. - Edward Abbey Quote Share this post Link to post Share on other sites
PhreeZone 20 #11 June 2, 2003 I just bought a car so that hit the wallet a lot and then the wrecking it a day after I bought it helped even less. I try to keep as little debt as possible, and what debt I do I have pay it off as soon as possible. I'm even selling a canopy to pay back my savings account the way things are going Yesterday is history And tomorrow is a mystery Parachutemanuals.com Quote Share this post Link to post Share on other sites
CanuckInUSA 0 #12 June 2, 2003 I really don't carry any consumer debt (I'm lucky in that my computer career pays well). I do owe money (about 15% of the total value) on a house up in Calgary, but my renters take care of that debt and I do owe about 5k on my '99 Jeep Wrangler. But other than that, my credit card bills are usually paid up in full once the invoice arrives. I did however buy a new reserve and a cam eye last week and those expenses have yet to be paid. Try not to worry about the things you have no control over Quote Share this post Link to post Share on other sites
QuickDraw 0 #13 June 2, 2003 I'm more of a buy now, bailiff later sort of guy. -- Hope you don't die. -- I'm fucking winning Quote Share this post Link to post Share on other sites
tbrown 26 #14 June 2, 2003 Then go 15 miles over the hill and take your canopy training at Elsinore ! That's the great thing about So. Cal, having two really great DZ's so close together. I have to put a new rig together from scratch and will probably get onto a demo program where I put a minimum deposit up front and then add to it. It's a layaway that will allow me to jump all the demo gear in the shop, until I figure out exactly what I want and can order it, as well as while I'm waiting for it to come in - I'm definitely going with an all new custom harness/container, there's nothing better than a rig that fits ! Your humble servant.....Professor Gravity ! Quote Share this post Link to post Share on other sites
Jabeln79 0 #15 June 2, 2003 Debt, I have tons of that. I blame it all on skydiving. I was debt free before i started jumping. Now just 2 yrs later ive traded good credit and lots of money for some of the best times and memories one could ever have. If the debt bothered me so much i wouldnt be jumping evry weekend.Blue Skies Joe "Knowledge is the antidote to fear." --- Ralph Waldo Emerson Quote Share this post Link to post Share on other sites
jfields 0 #16 June 2, 2003 QuoteThen go 15 miles over the hill and take your canopy training at Elsinore ! That's the great thing about So. Cal, having two really great DZ's so close together. I talked to the folks at Evolution, and I was told that the entire team would be unavailable when I'll be in California. So I'm not sure how Elsinore will help over Perris. That and I'll be without a car. I'd still be willing to spend a day at Elsinore. All I'd need is a ride round trip from Perris. Volunteering? Quote Share this post Link to post Share on other sites
ozthebum 0 #17 June 2, 2003 Up until a year ago I had been in debt for about 8 years. Almost 30k in bail and court costs (long story), along with a little other misc debt....luckly I'm in a career field with a big re-enlistment bonus. My first re-enlistment I used to pay off the parents for the bailbondsman....second re-enlistment went to the rest of my debt my pre-second rig and a car. Now, no debt and I even own a pretty nice Jeep out-right. It's a great feeling when you know you can blow your whole paycheck and not wory about bills. Quote Share this post Link to post Share on other sites
Skyrose7 0 #18 June 2, 2003 yeah, I was pretty much debt free before skydiving too, but now I have student loans to pay off and a small amount on credit. If I start charging too much, I just put the card away and pay it all off. I work at the dz, so my tab never gets too big there. Skydiving induces a "throw it all to the wind" kind of attitude for me though and I have to start being more responsible and maybe get a job with my degree. ~~~~~~~~~~~~~~~~ The mind is like a parachute--it works better when it is open. JUMP. MaryRose Quote Share this post Link to post Share on other sites
