Question

[donsrods]

I pay cash for everything and live off of my ATM debit card. Last car payment I had was in 1985 and I will never have another one if I can help it.

Aside from normal bills like electricity, cable, internet, car insurance, and our ADT security alarm on the shop, my biggest expense is our shop rent, but my two Sons and I split that 3 ways, so it isn't too bad.

It would scare me to death to be upside down on credit cards and other obligations. Being single makes it easier because I found that when I had women in my life they wanted all these luxuries that tend to put you in debt. The old saying that "two can live as cheap as one" is absolutely not true. We pay very dearly for that warm body beside us at night.

Don

 

[Willowbilly3]

Speaking of upside down, half the people driving a car less than three years old owe more money than it's worth.

 

[GJunktionMike]

I'll be upside down the rest of my life, I just hope when they plant me in the ground it's not head first or I'll never get a break.

 

[Ol Blue]

We bought our 1st house in 1976 and paid it off in about 1989 and haven't had a loan payment since.

Blue

 

[jfg455]

2 can live as cheap as one Don. Actually 4 can live as cheap as one! cause my whole family lives on my one pay check.[cl

It isn't a matter of can't, it is a matter of won't!

 

[Neverdone]

Wish I could be in that club. I just graduated from college a couple years ago, student loans suck.............. Other than that, no car payments, but all mine are at least 10 years old, my truck is 16 and no credit cards.

 

[rainman]

I only have very little debt, (a little on one house), I have three!! I can thank my wife for being very saavy with money!! We did without for many many years, and are now reaping the benefits! We don't believe in buying on credit, never have never will, if you can't pay for it, you don't need it!!
Luckily we've never had major health problems either, I know how that can destroy nesteggs, along with devorces and whatnot!!
Anyway I have been VERY lucky in these matters!!

 

[Sam_Fear]

No debt at all....


...until last Nov. when we bought a new F150. Now we are looking for a different house too.

 

[mikec4193]

Hi Everyone

I have been working 2 jobs since 1981 just trying to get thru life without any debt or as little as possible. I have been tripling my mortgage so as of Dec 2012 I will be with out a house payment other than taxes which are over $250.00 a month. No credit card debt....no car payment either....I dont have much shiney stuff like my neighbors do but I can bet they are in way over their heads....
I kinda wanna sell everything and move so far out no one can find me...big gardens.....maybe a goat and some chickens too...oh yeah and no more debt either...just a plan...really tough now-a-days in that we live in such a consumer orientated society.
Thanks for bringing it up.

MikeC

 

[butchman_3]

aside from house

aside from monthly bills, house payment, no debt, but in this coming febuary, thats all gonna change, got a little one gonna be popping out, so life as i know will change, why im trying to get my rat done as soon as possible, thing is i started on my truck before i knew of the little one, if not id made it a crew cab rat for a car seat in the back.

 

[One]

I have only my house payment to make. No phone,credit cards or outstanding loans of any kind.I also have no wife or kids.I live very cheaply because it's only me.

 

[Bonehead]

No debt. But income is another story. Sometimes a good story, sometimes pretty scary.

 

[Bonehead]

Another question. Who has some sort of retirement planned? Mine is not looking so good, I figure I will have to work until I am about 105, then I can relax a little.

 

[rainman]

I'm retired from one job, (30 years in a plant), but
still working!! Don't know if I'll ever not work!![S

 

[Paul_J]

Count me in the debt free group. I also have 12 acres with two buildings that are paid for and produce some income in the form of a lease with a 480' cell tower. The land is part of my retirement program as well as a 401K and selling the house I currently live in. The house on the property will be paid for in cash and built by me as I can pay for it.

I threw away way too much money when I was younger but learned that lesson before it was too late. Live way below your means!

Someone told me to live like no one WANTS to for 10 years, then you can live like no one CAN for the rest of your life.

Start today by eliminating all the debt you can until it's gone and you will never regret it.

 

[oldskool]

only the house payment, credit card to operate my business...