I should clarify that the debt I have is a car, college, and a house.
The school and car will be done in 3 years, maybe faster if I can make that happen. Having a kid kind of screws with that a little.
The older I get the more I realize that debt
- Thread starter Loren Littlejohn
- Start date
I should clarify that the debt I have is a car, college, and a house.
The school and car will be done in 3 years, maybe faster if I can make that happen. Having a kid kind of screws with that a little.
I've done my past 3 cars on loans. I vow to do everything in my power to pay cash for the next.
smy1
Member
This book has done wonders for my financial situation: [ame]http://www.amazon.com/Will-Teach-You-To-Rich/dp/0761147489/ref=sr_1_1?ie=UTF8&qid=1338551280&sr=8-1[/ame]
I always used to be in debt, now (2 years later) I have approx. 10k of cash lying around on different bank accounts - and this is while still kept going out, eating burgers and flying to London/UK regularly to see my gf.
I always used to be in debt, now (2 years later) I have approx. 10k of cash lying around on different bank accounts - and this is while still kept going out, eating burgers and flying to London/UK regularly to see my gf.
Skinny Viking
¯\(°_o)/¯ How do Lydian?
I'm sorry, what world are you speaking of? As far as I know, just about every Scandinavian country (including scary-ass Finland) has a higher standard of living than the US
As does Canada and several other countries
AD Chaos
MGTOW
- Aug 3, 2009
- 1,602
- 14
- 38
^
^ That looks like an interesting read.
Not implying you weren't, I was more thinking about my before/now situation
^ That looks like an interesting read.
Not implying you weren't, I was more thinking about my before/now situation
smy1
Member
Hulkblood: I agree with Skinny Viking. I've been in the US often and I wouldn't ever move there cause it's like a 2nd world country for us Northern Europeans (I'm in Germany).
MarcusGHedwig
Member
Skinny Viking
¯\(°_o)/¯ How do Lydian?
well my wife is from your area and she's been living here now for about 6 years or so ... she likes it just fine
there are differences of course ... more noticeable to her when she 1st moved here but as she says, there's things that are better in germany than here .. and things better here than in germany
calling it 2nd world is pushing it a little but I'm the 1st to admit that we're not as great in a lot of things as a lot of people like to believe
GeertSamuel
Member
Buying a house without a mortgage is (almost) impossible. You either are rich, or your parents are.
When me and the wife wanted to life together we first wanted to rent a place. Being on the list for about 2/3 years we finally got a rental house assigned to us, then the company looked at our salaries and said that we earn to much to be allowed to live with a such a low rent, this happened on 3 different isntances. It meant we had to find a place for rent in the +600 euro market, which we felt was a shame, since you're throwing away 600 euros on rent every month. For that exact same amount we eventually bought a house, when I'm 50 we paid our mortgage and the place is us. Meanwhile I have built my studio on that property.
When I'm 67 and want to retire, and this house is possibly to big for us we'll sell it and it will be great to have as an extra on my pension. If we don't want to sell, it's ok because don't have any mortgage or rental cost anymore.
We don't have any other loans. We paid for our cars, the studio and any other work we did on the house. We having savings for anything that might need replacement at any moment (car, fridge or whatever).
When me and the wife wanted to life together we first wanted to rent a place. Being on the list for about 2/3 years we finally got a rental house assigned to us, then the company looked at our salaries and said that we earn to much to be allowed to live with a such a low rent, this happened on 3 different isntances. It meant we had to find a place for rent in the +600 euro market, which we felt was a shame, since you're throwing away 600 euros on rent every month. For that exact same amount we eventually bought a house, when I'm 50 we paid our mortgage and the place is us. Meanwhile I have built my studio on that property.
When I'm 67 and want to retire, and this house is possibly to big for us we'll sell it and it will be great to have as an extra on my pension. If we don't want to sell, it's ok because don't have any mortgage or rental cost anymore.
We don't have any other loans. We paid for our cars, the studio and any other work we did on the house. We having savings for anything that might need replacement at any moment (car, fridge or whatever).
There is nothing peaceful as living debt free. Though I am not debt free and business persons cannot be debt free in their life time. When I was young, I didn't have any tension. Now, every moment comes with full of tension of paying debt.
amarshism
Member
You guys are crazy. My rent at home is 2400 a month plus an extra 800 a month for my room at the studio. I have heaps of debt cos I have to to be an artist. I worked to pay for food/rent while I was at university which probably accrued about 20k worth of debt against my name plus the whole bunch on studio gear. Why? Cos yolo. Suck shit if you live the weekend warrior mortgage lifestyle. Most people get stuck with a mortgage which gets them stuck with a job that knows they can rape your ass cos they know you need the money. I bought into working for myself. Long term happiness chaser right here in heaps of debt. Mid life crisis losers with the American/Australian dream to the right.
Wisheraser
Member
Try getting a job on the railroad, on an oil rig, or in a mine. Those seem to be some of the only jobs available to the average person that pay well enough to offer you a comfortable, debt free living. I used to be a scientist (microbiology), but couldn't afford fuck all on the typical scientist salary. Had to give up on that field in order to climb out of the massive debt pit that getting that stupid degree earned me.
James-Doolan
Member
+ 1 the resources sector offers amazing blue (& white) collar wages especially out in OZ http://www.bbc.co.uk/news/business-12983689
Besides my house my plan is to be debt free in a little over a year. The step after that will be to have 6 months of liquid spending money socked away for an emergency. The step after that is to get my retirement account up.
If shit plans out I also plan to never do another loan on a car, paying cash for a car seems like the way to go IMO.
It would be nice to retire and not have to worry about the government or loved ones taking care of my ass as well... I dunno we will see, I can hope.
If shit plans out I also plan to never do another loan on a car, paying cash for a car seems like the way to go IMO.
It would be nice to retire and not have to worry about the government or loved ones taking care of my ass as well... I dunno we will see, I can hope.
Skyweaver
Shred or Die !
I'm gonna die in debt...I'm married with 3 girls, love music and Harley's......I'm beyond fucked and love it - the one who dies with the most debt wins !
egan.
daylightdies.com
I will say, I got 0 percent financing on the only new car I've ever bought so even though I had cash I left the money in a money market and the interest made the last 4 car payments for me.
That's really kickass. My current car loan (own the other outright) is at 0%. I'm not that worried about it.
It seems (to me anyway) that bargaining power goes up when you deal in cash though. For example, I'm much more likely to get a deal (in my experience) if I show up to buy something with cash over a check for example. Especially with private sale stuff.
It always seems like if you finance, well your stuck paying what they want to charge and you should be grateful that they are letting you borrow the money for the car.
Debt isn't bad, it's just managing your debt. My parents came here from Poland, became citizens, and ended up buying a house after nine years in the USA. They needed a 15 year mortgage for the house. If they never got the mortgage I don't think they would have been able to buy the house.
I'm 28 years old, my dad helped pay for my college along with financial aid and some of it paid off by me. I ended up getting a good job straight out of college and bought a condo this year, but it was under foreclosure. I didn't need a mortgage or loan, I bought it outright. But if it wasn't a foreclosure then I would have had to get a mortgage.
There are some people that can't manage their debt. A lot of people use credit cards and just spend spend spend. The interest rates on credit cards are usually insane. I recommend having a low credit limit on a credit card, that way you don't overspend on "accident".
I'm 28 years old, my dad helped pay for my college along with financial aid and some of it paid off by me. I ended up getting a good job straight out of college and bought a condo this year, but it was under foreclosure. I didn't need a mortgage or loan, I bought it outright. But if it wasn't a foreclosure then I would have had to get a mortgage.
There are some people that can't manage their debt. A lot of people use credit cards and just spend spend spend. The interest rates on credit cards are usually insane. I recommend having a low credit limit on a credit card, that way you don't overspend on "accident".
Skyweaver
Shred or Die !
15 year mortgage ? trying buying a place in Australia.....average loan is $400,000.00 and is paid back over 35 years......
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