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.