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

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’t ever let anyone tell you there is something wrong with being or wanting to be debt free. Stay away from people like that before you catch there cooties. Being debt free is the best thing in life, well one of them. Not having to worry about bills and actually being able to spend your paycheck on what you want instead of paying some stupid credit card company for stuff you don’t need is a lot more fun. I’m debt free finally and I do not want to go back to owing anyone. I hated it.

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…

By: bunnytoes_mussolini

bunnytoes_mussolini — Wed, 06 May 2009 03:53:28 +0000

Funny, I am in debt and I regret it greatly, a short year ago it didn’t bother me, because the debt was ’sustainable’ with our income…well as we all know a lot can change. My husband lost a lot of business and I am due to give birth in two weeks, and lost my old job last october. Now that debt keeps me up at night and hangs over my household…if I ever crawl out of this I will be more carefull in the future. Lots of debt is never a good thing, because you are gambling with your future

By: cheap chick

cheap chick — Wed, 06 May 2009 01:21:34 +0000

I think that credit card and buying things without having the money is a bad thing. Not because of religious or moral reasons but for practical reasons. When you use credit, you’re paying for the privilege of doing so. Even if it’s American Express or whatever… or if you pay off your balance every month, why? What’s the advantage.

So I dumped my credit cards except for one for EMERGENCIES. Cash or debit card only now.

I also looked carefully at “regular” expenses and decided to dump my AT&T phone for a prepaid phone. Got a Tracfone for 30 bucks but it was kinda-sorta free since it came with 30 bucks worth of air time.

Now I budget my phone use by buying the amount of time I want, up front. I also got a double minutes card which makes it an even better value.

There are some expenses that can be “managed” and those are the ones to budget.

btw, I do have a mortgage. That’s a different story. But routinely buying stuff on credit? No way.