Author Topic: Debt Free!!!  (Read 8464 times)

TheListener

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Re: Debt Free!!!
« Reply #30 on: July 31, 2009, 03:51:52 AM »
Here are some personal views about debt.

For me it is seems a lot like smoking. Other than cigars (I sometimes smoke these for the taste), I never smoked and I don't know how it is to be addicted to smoking. I have seen many people struggling trying to quit smoking and now that I think of it, it probably always scared me to see that people aren't strong enough to do what they want. I guess that it must be great to be able to quit smoking, but I can't really imagine how it feels.

I really have no real experience with debt. I did have a really bad experience when I had my first creditcard. I still think credit cards have many advantages. I remember travelling with cash for the next some weeks and I was always afraid of being robbed, because that would put me into serious trouble being far away from home with nothing to fall back on. When I had my first credit card, I didn't write down my expenses, so it was a major surprise to see the bill when I came back from vacation. I think that now, with having all your purchases available on-line, you can mitigate this risk but you have to have the discipline to check that. For me this means making it part of the monthly balance sheet&forecast routine which I do around the 16th-20th.  I do think that credit cards are very powerful and belong in the toolkit of a survivalist but they are also very deadly, so you should think of them as "financial guns".

Just by sheer luck, I never had to go to the bank to take out a mortgage and I never thought too much about that. Until one day a friend (someone that I used to work with) asked me: "You don't have any mortgage on your house, do you? You don't work like someone with a mortgage. You are not afraid to take on risky projects. You are not afraid to get fired. If you had a mortgage you couldn't work that way." This comment really amazed me and made me think a lot about debt. It made me sad to understand that so many people cannot realize their full potential  because they feel their primary objective is to minimize risk of losing their job. I get so much satisfaction out my work when I reach the feeling that I am operating at close to full potential, I find it really sad that so many people cannot have that. And looking back, every time I got a promotion or something, it was almost always after a sustained period of operating at close to full potential.

Although I cannot really understand how it feels to get out of debt, I want to say a big KUDOS to all of you that you already got out of debt or are on the way of getting out.

Offline jjs72

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Re: Debt Free!!!
« Reply #31 on: December 28, 2009, 11:43:09 PM »
Working towards the same path. My 05 titan will be paid off in april, 2010. then when that is paid off. Slam that money on the wife car, and have that paid off in the following november time frame. After,  the vehicle debt is gone. Then will only have mortgage, general living expenses. Two years, and will have no payments for vehicles. Domino bill pay off. So looking forward to no vehicle payments. Best of luck to those working towards being debt free. 

Offline luke

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Re: Debt Free!!!
« Reply #32 on: December 29, 2009, 01:41:45 AM »
I have rented several cars in the US without the use of credit cards with no problem. As soon as they are paid off, they will be destroyed forever. I also took several business trips without the use of credit cards. In my opinion they are worthless. Even if I did get an extended warranty, I would probably forget to use my credit card to get it, and I could likely get a better deal on new product anyways. I'll never succumb to the credit card companies again, and I am looking forward to paying them off like I would pay off the mob for a final time.

Offline dep190

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Re: Debt Free!!!
« Reply #33 on: December 29, 2009, 02:50:47 PM »
Dave ramsey would be proud but he might say pay cash on a foreclosed property.
Congrats! :D