Idle curiosity - How many here are debt free?

I made the decision 30 years ago to live debt free. Worked really hard to pay off all debt, both short and long term, and for my daughters to not go into debt for college. Best way to do that was to live way below our means and use anything left over to pay off mortgage and car loans. Once that was done we simply continued to live below our means and invested all extra so that we could pay cash for future major expenses. Up until a couple of years ago we've never bought a brand new vehicle and usually drive em till the wheels fall off or Michigan road salt eats em alive. To this day we still live conservatively. A lot of freedom in not having any debt. Not saying debt is wrong, and it's very difficult in today's society to not have debt especially when young and starting out, but there is wisdom in the saying "the borrower is a slave to the lender". I see too many young people today trying to play "keepin up with the Jones'es", and buying the nicest newest truck or boat in the neighborhood with debt. Big mistake. Materialism just ain't worth it.
 
There are circumstances, and there are circumstances. My parents have been very comfortably retired in Florida for over 25 years. If they get through this pandemic, they may get several more. Born in the middle of The Depression, they've never had much in the way of debt. My dad was a school teacher. He retired early and they bought a house twice as big as the one they raised four boys in. He keeps a new car. They've had a great run. That's what living with little to no debt gets you. They've had their tough times, and I was around for most of them, but in their golden years, they're far more comfortable than most.

As for me, big stumbling blocks I picked for myself, or picking door #1 when it should have been #3. I've always been a fan of Dave Ramsey since he became known. Just the same, without a safety net, it gets real tough. Where I sit now, my life partner is truly a team player. A great job found me. Priority one is cleaning up the mess behind me. The light at the end of the tunnel is getting close, I just need to stay the course.

No, I'm not debt free. I probably have to work to age 70 (If I'm able). My debt free parents are comfortably retired since about age 55. They're now 85!
 
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There are circumstances, and there are circumstances. My parents have been very comfortably retired in Florida for over 25 years. If they get through this pandemic, they may get several more. Born in the middle of The Depression, they've never had much in the way of dept. My dad was a school teacher. He retired early and they bought a house twice as big as the one they raised four boys in. He keeps a new car. They've had a great run. That's what living with little to no debt gets you. They've had their tough times, and I was around for most of them, but in their golden years, they're far more comfortable than most.

As for me, big stumbling blocks I picked for myself, or picking door #1 when it should have been #3. I've always been a fan of Dave Ramsey since he became known. Just the same, without a safety net, it gets real tough. Where I sit now, my life partner is truly a team player. A great job found me. Priority one is cleaning up the mess behind me. The light at the end of the tunnel is getting close, I just need to stay the course.

No, I'm not debt free. I probably have to work to age 70 (If I'm able). My debt free parents are comfortably retired since about age 55. They're now 85!
If you can just pay off 1 bill at a time even small ones and get them behind you
There's a little satisfaction in that and then knock off another
Even a small victory is still a victory
 
If you can just pay off 1 bill at a time even small ones and get them behind you
There's a little satisfaction in that and then knock off another
Even a small victory is still a victory
I try the same strategy to my projects at work. It helps me a lot.
 
I try the same strategy to my projects at work. It helps me a lot.
Back when I was still working if I had a bunch of things to get done I would tackle the worst first, knowing
that one was behind me made the next ones a little easier
 
No complaints now... with the first wife.. 25 years.... she had a great state job... the usual.. work.. mortgage….… kids.. shoes... used car... no motorcycle.... then one day.. a knock at the door … " suits "... dang, these guys look like coppers.. and my life when right in the crapper. Let's just say.. when divorce story's are told.. I win... ( hint: witch craft....embezzlement..)… months later... I'm live'n in a 11x60 ice box... " mobile home ".. had a installation R value against the Minnesota winter of...paper... My teeth wasn't that only thing that was chattering in January. A buddy set me up with a laptop....and I did that on line date thing.... apparently woman's standards aren't as fussy as they were 25 years earlier.
So today.. hook'd up with the new and improved Mrs. B., who for some reason thinks I'm the greatest thing since sliced white bread. been together 18 years. (married for 8)... Condo has been clear for years.. last three vehicles bought outright.... many trips all over the states... across both the ponds....she's still punching the clock.... likes her job... then, 15 yrs ago... I was turn'n wrench's at Midas... nice summer Saturday…. I just told myself..." done " .... told the boss.. 2 weeks.. see ya.
We got no debts…. she's got everything in CD's.... I have a small 401 in the market... I'm sure it's smaller since the bug... couple years ago started collecting S/Security.... we got our health.... and we'r ok... :)
 
No complaints now... with the first wife.. 25 years.... she had a great state job... the usual.. work.. mortgage….… kids.. shoes... used car... no motorcycle.... then one day.. a knock at the door … " suits "... dang, these guys look like coppers.. and my life when right in the crapper. Let's just say.. when divorce story's are told.. I win... ( hint: witch craft....embezzlement..)… months later... I'm live'n in a 11x60 ice box... " mobile home ".. had a installation R value against the Minnesota winter of...paper... My teeth wasn't that only thing that was chattering in January. A buddy set me up with a laptop....and I did that on line date thing.... apparently woman's standards aren't as fussy as they were 25 years earlier.
So today.. hook'd up with the new and improved Mrs. B., who for some reason thinks I'm the greatest thing since sliced white bread. been together 18 years. (married for 8)... Condo has been clear for years.. last three vehicles bought outright.... many trips all over the states... across both the ponds....she's still punching the clock.... likes her job... then, 15 yrs ago... I was turn'n wrench's at Midas... nice summer Saturday…. I just told myself..." done " .... told the boss.. 2 weeks.. see ya.
We got no debts…. she's got everything in CD's.... I have a small 401 in the market... I'm sure it's smaller since the bug... couple years ago started collecting S/Security.... we got our health.... and we'r ok... :)

Good story Mike! By the way, I feel much better now about my first wife! :yikes:
 
I've always been a fan of Dave Ramsey since he became known.
Dave Ramsey's Financial Freedom/Financial Peace University course has helped a lot of people. It was an inspiration to me back in the day and I've seen it help many others get a handle on finances. It's amazing what you can do with a strict plan even when finances are tight. Highly recommend this to any young folks who struggle with budgets, etc.
 
always been debt free ,never seen the point of paying quite often double the price and some times more for things that only go down in value , about the only exception would be for a house / land but even then was lucky enough to avoid the debt cycle ...always pay cash and that way often pay less .. has always ment old cars / old bikes / old house but then i like old and working on things and besides cuts down on the impulse buying .. guess im just a tight arse when it comes to money but its ment the age pension is enough to live on (just)


A very wise jewish man once told me, "never borrow money an an assett that depreciates".
 
I've always scoffed at the income levels I see when they're labeling folks as poor/middle class/upper middle etc. According to those numbers we've pretty much always been borderline or outright poor. Never felt that way, always felt pretty damn comfy and lucky to be as well off as we are.

Got a fishing email from Toyota today and having nothing better to do, dove down that rabbit hole. Made my last tractor payment last month so have a little slack in the budget. Un-American not to have a payment, ya know...

Looked at base model (LE) Highlanders which list for $39K. Ran KBB on the Corolla and figured with a decent trade in and enough bitching at the salesman, I should be able to get the Highlander out the door for $30K.

Navy Federal will do new car loans for 60 months at 2.2%.

According to my loan calculator, that means about $520 a month car payment.

Guess who's NOT getting a new ride any time soon?

Don't really need it anyway, '12 Corolla with 37K and '13 Tundra with 56K. With a little luck, both would last me until the kids take my license away.
 
Well, it was nice to be debt free, but I bought a house yesterday. Nice house, quiet neighborhood, big garage, nice yard, and less than half what the house in washington sold for. But that's it, just the house. Now I get to spend all my free time moving stuff from storage.
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I've always scoffed at the income levels I see when they're labeling folks as poor/middle class/upper middle etc. According to those numbers we've pretty much always been borderline or outright poor. Never felt that way, always felt pretty damn comfy and lucky to be as well off as we are.

Got a fishing email from Toyota today and having nothing better to do, dove down that rabbit hole. Made my last tractor payment last month so have a little slack in the budget. Un-American not to have a payment, ya know...

Looked at base model (LE) Highlanders which list for $39K. Ran KBB on the Corolla and figured with a decent trade in and enough bitching at the salesman, I should be able to get the Highlander out the door for $30K.

Navy Federal will do new car loans for 60 months at 2.2%.

According to my loan calculator, that means about $520 a month car payment.

Guess who's NOT getting a new ride any time soon?

Don't really need it anyway, '12 Corolla with 37K and '13 Tundra with 56K. With a little luck, both would last me until the kids take my license away.

GOOD PLAN Downeaster - new cars are the road to ruin (says a guy who lives and works in an automaking town).
 
Well, it was nice to be debt free, but I bought a house yesterday. Nice house, quiet neighborhood, big garage, nice yard, and less than half what the house in washington sold for. But that's it, just the house. Now I get to spend all my free time moving stuff from storage.
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Congrats on the new house Rat! Looks awesome. And Downeaster, sounds like you made a smart move especially with the two low mileage vehicles you already own.
 
- - - new cars are the road to ruin (says a guy who lives and works in an automaking town).

Hi Pete,
only if you reckon that they are an investment.
One of my co-workers used to buy a new car and trade it in on another new car just before the warranty expired.
He reckoned that always having the latest safety features and never having to pay a mechanic more than balanced the depreciation.
 
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