Is a debt-free life possible?

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suzwantstobefree
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Re: Is a debt-free life possible?

Postby suzwantstobefree » Sat Jan 29, 2011 8:22 am

I own a home and it was the right decision for me. HOWEVER - you have to make that decision on your own. I know people that are not homeowners and it works for them. Some of the cons to homeowners are - you have to have the money or the skills to fix things as they come up, you are not as able to pick up and leave if you want to move to another area (you would have to sell your house or be prepared to continue making payments), you will always have taxes and insurance, etc.

Some of the pros are you have a (generally) appreciating asset that you can sell if you need to and have a lump sum of money or tap into for money, once it is paid off there are low monthly expenses, you can personalize it to your own likes, you can pass it down to your heirs upon death, it represents stability, etc.

Don't let anyone push you into home ownership until you are ready. It is a big move and it has to be right for you. The grown up thing is to make a good money decision that is right for you!!!

mjdavid36
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Re: Is a debt-free life possible?

Postby mjdavid36 » Fri Feb 04, 2011 12:39 pm

I would say that if you want to live the american lifestyle as our current culture espouses
(3000 sq. ft. Mac-Mamsion with marble counter tops, big SUV in drive way, in gated neighborhood,etc) I'd say no. It's simply not doable on normal incomes. If you don't buy into the that culture ,,,,I say yes. But it's going to get harder as the employment in the US becomes worse.

denny206
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Re: Is a debt-free life possible?

Postby denny206 » Mon Mar 07, 2011 2:02 pm

Yes, totally. At times....sometimes you have to be in debt for a small period of time, but can easily get out of it.

redstiletto
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Re: Is a debt-free life possible?

Postby redstiletto » Fri Jun 29, 2012 10:57 pm

yes! but very few people manage to do it. it takes a lot of discipline and self-control.first, you should learn how to distinguish needs versus wants/whims. And most of all, you must learn to be content.
many people especially the younger ones become broke from paying their cars, homes, properties and health. it's important that you plan for [spam link removed] long term care and be ready for it, because it could deplete everything you have saved

Eagle
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Re: Is a debt-free life possible?

Postby Eagle » Wed Jul 04, 2012 7:11 pm

redstiletto wrote:yes! but very few people manage to do it. it takes a lot of discipline and self-control.first, you should learn how to distinguish needs versus wants/whims. And most of all, you must learn to be content.
many people especially the younger ones become broke from paying their cars, homes, properties and health. it's important that you plan for [spam link removed] long term care and be ready for it, because it could deplete everything you have saved


Many people my age want to have what it took my parents generation 20-30 years to acquire. Cars, Houses, Nice Furniture, Home Entertainment all are must haves right now it seems... The amount of debt of this new generation will cripple Americans for a lifetime.
~ Eagle
www.eaglesoaringhigher.com


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