Foolish Or Not Foolish! :-)

[syracusa]

Originally Posted by maat55

I voted reasonable depending on your anti-debt mentality and ability to save properly.

Let's say I am coming from a country that has been singled out as the most anti-debt nation of Europe. This is the kind of country where many people still prefer to live with their in-laws from wedding to grave (the in-laws' or theirs, depending on who lasts longer), rather than take out mortgages to move into their own house. Growing up, the whole idea of debt was unheard of there, let alone doable. When it became possible and banks started to throw in their baits, most people said "no thank you".
I am proud of those.

I hear though the young generation is starting to line up and slowly start to buy into the "modern" way of life (to be read "debt-based", aka "the American way", that's how it's known over there).

But old cats like myself still function on the old mindset. Of, course, in America I had no choice. We've got mortgage. But I did force my American husband - former financial planner, ha! - to get rid of nicer-than necessary-car with loan, student loan and everything in between, until the only debt left was mortgage.

If it were up to me, I'd live with my mother-in-law just to get rid of the mortgage too, but I'm not sure she'd want me in there forever.
Plus the area would probably kill me sooner rather than later.