Comments on: A Life Without Debt: Is Money Too Important?

By: Ed

Ed — Mon, 15 Feb 2010 01:33:10 +0000

I can usually spot the debt free people, because they usually want to borrow my pickup or get a copy of my updated software..or they don’t want to do something because it costs too much. I really don’t have debt, but some necessities (house) sometimes require it. My 70 year old mother is still using a VCR somebody gave her years ago and drives a 20 year old car…I told her she can probably opt for the gold sarcophagus.

By: Maggie

Maggie — Thu, 10 Dec 2009 21:21:05 +0000

I appreciate your writing on this topic. I believe that when you are debt free you actually have more financial opportunities to buy things you may want from time to time – the little luxuries, e.g., vacations, top of the line gas grill, Wii, etc. because you are in control of your money and more than likely have a slush fund with savings allocated for purchases like these. I am debt free except for my mortgage which I am super fast tracking with additional principal payments plus add substantially to different savings accounts/investments monthly. This can occur because I am not a frivilous spender. It is a secure and liberating feeling knowing that you are in control of your income and outgoing money which I wouldn’t give up for anything. Monitoring your expenses is the resposible, mature thing to do. I don’t know what is going to happened to the spenders and non-savers in thier old age. I wish them well.

By: Eddie C. Note

Eddie C. Note — Fri, 22 May 2009 04:32:31 +0000

I applaud Gail’s efforts to work her debt down. In mmy view, cash is king and being debt free is freedom. You must first have the desire to get rid of debt and then have a reasonable plan written down as an ongoing checklist. If the plan is based on actual record-keeping and logic, you can succeed. Good luck to all.

By: Gail

Gail — Thu, 21 May 2009 13:06:26 +0000

I don’t know why someone would choose to rack up debt to make themselves happier. It doesn’t equate. I hate the stress of debts and am trying very hard to apy off our debt. The lower those balances go the happier I am. I know full well how life can come and chop you off at the knees leaving you without the ability to pay on those debts that you made to be ‘happy’. I would much rather be debt free than than owing money. The other way around just shows how messed up our society has become.

By: Natural

Natural — Tue, 12 May 2009 17:53:00 +0000

Don

By: Slinky

Slinky — Mon, 11 May 2009 14:37:39 +0000

What I meant by living in the middle was that low interest and sometimes secured loans (like car loans and mortgages and student loans) don’t always need to be paid off right away. Sometimes you’re better off keeping those around and saving more.

I think I live in the middle. I have student loans and a car loan. I also have four months of expenses in the bank, put aside 10% (gross) for retirement, and generally have at Least a third of my net salary available for savings. I do NOT live paycheck to paycheck. I chose to put off paying down my loans so that I could save for a wedding and a house. My interest rates aren’t all that high and these things are more important to me.

By: wnlbutterfly

wnlbutterfly — Sun, 10 May 2009 14:07:39 +0000

Living “in the middle” can be tricky though. I equate that as “living paycheck to paycheck” and one lay-off or lost job, one big medical bill and it can tip the scale. We aren’t debt free yet, but in the last 4 months we have made so much progress that we are better off than we have been in 25 years. No kidding.

#10 comment was on target…this is someone that wants to justify their spending by claiming “everyone else does it”. Just like the people that are have affairs and says “everyone is doing it”. NOT!

By: Slinky

Slinky — Thu, 07 May 2009 18:04:48 +0000

I think there’s a balance to be had. High interest debt is always bad and owing nothing is always good. But it’s ok to live somewhere in the middle too. It took me a while to realize that. Moderation in all things.

By: Jackie

Jackie — Thu, 07 May 2009 04:14:33 +0000

Today at work, one of my coworkers was looking at digital cameras online. He bought a $10 storage chip and it turned out not to be compatible with his girlfriend’s camera. He was making fun of himself for thinking about getting a $200+ camera because he spent $10 on storage. The sad thing was that he was talking himself into this camera that he doesn’t need and can only afford by putting it on a credit card to pay off in installments.

We’re good friends so I half jokingly asked him if I needed to go all Suze Orman for him. He then flabbergasted me by saying that “normal people have credit card debt” and if he made as much as Suze he wouldn’t have debt either! Normally I’d just let it go, but after reading this post I pointed out that I pay off my balance every month and I don’t have any higher of a salary than he does. No hurt feelings, he just said he wished he was rich like Suze so he could pretty much spend what he wanted and didn’t have to worry about it.

I hate that attitude though, it’s so much hooey and he should know better considering his poor financial past.

By: Diane

Diane — Wed, 06 May 2009 04:52:10 +0000

Balance is key! I’ve lived on both sides, deep in debt (due to my ex-husband) and debt-free now, other than a small mortgage. I didn’t have everything I wanted either way…

The fact is, most everyone worries about and thinks about money, either about saving it, spending it, or paying the bills. It’s just part of life.

I DO care about money, which is why I’m debt-free. I think that’s caring about money in a good way. I buy gifts, buy things that my family needs and a few that we want, take trips – I just don’t spend more than I can afford or charge more than I can pay off each month.

I don’t want to spend my life worrying about money, or how I’m going to pay my bills. I do want to spend enough to enjoy my life and time with my family. Balance…