Do you live with debt?

[VictorCharlie]

I have a home mortage of 130K and I think we have about 10k left on my wife's student loans. We have financed a couple vehicles but we have always put more than 50% down and paid them off quickly. We almost never have a balance on the credit cards. Really the only time we use them at all are for emergencies. So outside of my home and for the next year or so the rib's student's loans, we avoid debt like the plague.

[Gandalf]

I have a home mortage of 130K and I think we have about 10k left on my wife's student loans. We have financed a couple vehicles but we have always put more than 50% down and paid them off quickly. We almost never have a balance on the credit cards. Really the only time we use them at all are for emergencies. So outside of my home and for the next year or so the rib's student's loans, we avoid debt like the plague.

Sensible behaviour. I do use credit cards, but only to order certain bulk products online and I pay it off immediately. I refuse to pay interest on that junk.

Credit is too easy and IMO people are too stupid and uneducated and I include smart, educated people in that list too. I watch TV and see loan commercials everywhere. However, I also read Russian literature of the 1800's and the money lenders are there too. Seemingly omnipresent and impossible to truly ever wipe clean.

[AdamGB]

I'm paying for a modest car on finance... it would take me too long to save for it I need it for business reasons. I would never take out any other form of loan though. That's one of the reasons my PT/Boot Camp Business has been a slow burner. Everything... and I mean everything, every bit of kit is something that I have either saved and paid for, or built.

I'd guess that about 3 quarters of what I have earned has gone back in to it and then I work paid hours on top of it to keep ticking over. I'm just about at the point now where it's all starting to turn in to income.

[Memphis]

My car, owe a few grand on that. I'll never finance a car again, I love the car and I know its going to server me long after Ive finished paying for it but I just dont want to be tied to something like that again.

[Mark TKO]

never had a credit card as only spend what i have

have a mortgage

but as i say to a guy at work who goes on and on about the perils of mortgages and how stupid people are with them......whereas mine will be clear by time I am 60 he will be paying rent till he dies.


Ok I may drop dead at 60 its not guaranteed to anyone but he is paying same on rent as I am mortgage and at end will have had effectively a 60 year mortgage if he lives to 80.

Giving up work for him will be hard. Will be easier for me - add to the fact that I am an idle bastard too