Re: How do people in debt become homeowners??
There are psychological advantages, too...
Buying the house put me in a completely different frame of mind financially. I am MUCH better at sticking to my budget, and have actually pared it down a lot since I bought the house. My net worth has gone crazy since I bought it, and I'm not even counting home equity. I simply steward my money much much better, and have this feeling of empowerment because I set a goal and did it. My goals get loftier and loftier and I have concrete plans to reach them. The responsibility and obligation of the house made me take my money much more seriously.
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