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Would you? Be debt free vs. living in debt?

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Kroze said:
What would you rather choose? Living debt free vs. Living with debt but have a better quality of life (I.E. better house & car)
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That is a false question. Meaning you are purposely limiting one of the options and purposely exaggerating the benefits of the other. The REAL two options are:
1) Being debt free and having a better quality of life (ie every cent you earn can go to fun things like vacations, better house, and fancy cars).
2) Living in debt so you can never afford the nicer things in life.

Sadly, unless you are a trust fund baby, you probably need a little debt to grease the wheels (debt to get an education for a good job, debt for a mortgage so you can have a stable base, small debt is good for transportation so you can earn money, or even some debt to open a buisness/buy stocks is ok). The key is to keep that necessary debt small, pay that debt off in the first few years, and then you can live the good live for decades later.
 
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Hmm, debt free....

that would mean no house, no college (student loans), no car, no credit.......

This is the way life works -

Accumulate healthy debt, live comfortably, payoff debt over time, live the rest of your life debt free.
 
Well, debt free of course. It might be a bit though - we just bought our house last year and 6 months after that I lost my job - followed 4 months later by my wife.

That being said I am very happy to make my last student loan payment this week (YAY!) and the credit card that climbed upwards during the lack of employment should be paid off in Feb - which just leaves my house payment.

*happy dance*
 
chusteczka said:
Those who decide not to incur such debt remove themselves from consideration for such purchases, thereby reducing demand for the product and reducing its price. ... in theory.
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technically it does not always reduce the price...sometimes it removes it as an option if there is not a business case for it.
 
I tend toward debt free...but am not fanatical about it. As long as I live my life within very comfortable margins, then I don't see an issue. Taking on good debt for education, housing, investments...is fine by me. I have tried my absolute best to not go into debt for non appreciating assets (hobbies, cars, etc).

I also do not mind spending my money to enjoy life. You can't take it to the grave.
 
if i had no family i'd be debt free
not that i am blaming them, it is harder to suppress 'wants' of 4 people vs 1 people
 
Just about everyone has this option, just about everyone chooses to live in Debt.

I would rather live in debt with a better quality of life than live debt free and have lower quality of life. That's why I bought a house and drive a newish car instead of living an in apartment and driving an old beater.
 
FoBoT said:
if i had no family i'd be debt free
not that i am blaming them, it is harder to suppress 'wants' of 4 people vs 1 people[/QUOTE]

Agree, especially the bold part.

A friend of mine who is making a bit more than me but barely able to cover his bills while I can save 1/2 of my take home salary <after taxes and all>.

His wife is a stay at home home and he has a couple of kids but that how he wants it.

<<---- is a bit leery about getting married for mostly about financial reasons.
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