There is nothing to be jealous about. People in debt would not want my life because they want things NOW. I have always worked and saved and only purchased things I could afford to pay for with cash. That means a lot of restraint and learning to wait and do without sometimes, or extra work to provide the income to satisfy my wants. I have always had a positive balance in my bank/investment accounts since I was 8 years old. Saving and investing is key but that means putting off today so you can have more tomorrow and that is not what todays younger generations are all about.
I put myself through college and graduate school with my own money and never took out one loan. I have always saved money by training myself to do anything I need to do....I am kind of the "ultimate do-it-yourselfer". I learned how to work on cars when I was a young kid so I have NEVER had to pay anyone to fix ANY problems with ANY of the vehicles I have ever owned....including the newer computer controlled ones. I do all home improvement and repair. I do just about anything I need for myself. The amount of money that saves you is HUGE, but young people these days mostly don't want to learn to do for themselves....they want things handed to them.
Being debt free is a mindset that goes along with a lifestyle that does not meet the needs of most people today who simply have to have everything NOW. My parents always saved and invested since the day my father started working. Because of that we as a family lived on what remained after investing. I learned that lifestyle from my folks. Today my parents are retired living in complete luxury because they planned it that way. The minute my dad retired he changed his lifestyle to the affluent one he had saved and planned for since the time he was 16. We never went without but we also never had a lot of the luxuries other people in the same income bracket just had to have. I learned these things from him and have practiced them my whole life. I will never owe a dime except on a home mortgage.
Don't have any debt... I'm ~15K up and am waiting to make a down payment on a house... Unfortunately I have to wait until I become employed again.
But waiting until you're too old to do all the things you want to do is no fun!
So if something comes up like a huge home repair or a major uncovered medical bill, you won't borrow money to pay for it?
Except the future is not guaranteed. No doubt you should prepare for it, but i'll rather live well in the present as well.
And how much could you have learned from him when you have 4 cars?
1) $0
2) $0
Credit card is paid off every month, no mortgage, car was bought with savings, no student loans (worked while in school)
2) $0
Credit card is paid off every month, no mortgage, car was bought with savings, no student loans (worked while in school)
Specop 007
Diamond Member
- Jan 31, 2005
- 9,454
- 0
- 0
~$2500 on a car loan... will pay off next month.
~$5000 on student loans, divided among like, 5 different loans. (If things go right, I will pay off three of these loans for $2200 by the summer)
~$2000 owed to parents for tuition costs that student loans didn't cover... re-payment has to be made sometime before I die. Thanks mom and dad.
I could be debt free by the end of the year, but will probably opt to enjoy myself a bit instead.
~$5000 on student loans, divided among like, 5 different loans. (If things go right, I will pay off three of these loans for $2200 by the summer)
~$2000 owed to parents for tuition costs that student loans didn't cover... re-payment has to be made sometime before I die.
Thanks mom and dad. I could be debt free by the end of the year, but will probably opt to enjoy myself a bit instead.
$0
student loans: paid off
credit cards: paid off
car: paid off
I don't actually know how to borrow real money... I'll probably have to figure out when I start getting ready to apply to grad school. heh.
I paid cash for my car and borrowed the money from my parents for my undergrad education.
student loans: paid off
credit cards: paid off
car: paid off
I don't actually know how to borrow real money... I'll probably have to figure out when I start getting ready to apply to grad school. heh.
I paid cash for my car and borrowed the money from my parents for my undergrad education.
$12k in student loans, Getting a good 2.27% interest rate on it. ING is at 3.8% so I'm paying it off with my ING interset
TRENDING THREADS
-
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)- Started by DisEnchantment
- Replies: 25K
-
Discussion Intel Meteor, Arrow, Lunar & Panther Lakes + WCL Discussion Threads
- Started by Tigerick
- Replies: 22K
-
News NVIDIA and Intel to Develop AI Infrastructure and Personal Computing Products- Started by poke01
- Replies: 384
-
Discussion Intel current and future Lakes & Rapids thread- Started by TheF34RChannel
- Replies: 23K
Facebook
Twitter