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The 100% debt free thread

Electric-Eccentric
Posts: 1,309
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8/23/2015 7:30:05 AM
Posted: 1 year ago
I was curious of how many others that read and post around these forums are 100% debt free and don't try and live on credit as is popular these daze.

I myself have no debts owed as I never believed in credit cards and such as I saw the TRAP the play money was put in.
Life is what YOU make it,
Most just try and fake it...
Khaos_Mage
Posts: 23,214
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8/23/2015 1:24:12 PM
Posted: 1 year ago
At 8/23/2015 7:30:05 AM, Electric-Eccentric wrote:
I was curious of how many others that read and post around these forums are 100% debt free and don't try and live on credit as is popular these daze.

I myself have no debts owed as I never believed in credit cards and such as I saw the TRAP the play money was put in.

I wouldn't call it a trap. Money is a tool, and it depends on how you use it.

In 2010, excluding my student loans, which weren't due yet since I was still in school, I have essentially zero debt, approx $150 on a CC.
Now? I've got about $300K in debt. However, I wouldn't have a house, a car, or heat, if I didn't have the debt option.
My work here is, finally, done.
ford_prefect
Posts: 4,139
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8/23/2015 11:36:33 PM
Posted: 1 year ago
At 8/23/2015 7:30:05 AM, Electric-Eccentric wrote:
I was curious of how many others that read and post around these forums are 100% debt free and don't try and live on credit as is popular these daze.

I myself have no debts owed as I never believed in credit cards and such as I saw the TRAP the play money was put in.

Let me preface this by saying that I currently have no debts.

That being said, you can absolutely have a credit card without living in debt. If you pay 100% of your credit card bill each month, then you're not in debt.

Lastly, there are some times when it is wise to go into debt. For example, say you know you want to live in a particular city for the next 25 years. Let's say you are married, you have children who will soon go to school. Your job is stable and you have absolutely no plans to move away. Why would you rent a house, when you could take out a loan and buy one instead? At the end of the 25-30 years, you will have paid roughly the same in rent and on the mortgage payments, with the difference being that you don't own the house if you were renting. The vast majority of people do not have hundreds of thousands of dollars sitting around to buy a home, so they have to take out a loan, and live with debt for a time. That's a natural part of life.
Electric-Eccentric
Posts: 1,309
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8/24/2015 3:47:17 AM
Posted: 1 year ago
sounds like people trying to live on credit and people that believe that trying to live on credit is fine if it can get you things that you can't afford.

Why would a person require credit cards if they just pay them off unless they want to be part of the world that requires them.

There are some that can handle the credit card as a tool, but most can not.

My mother died a couple years ago of cancer at the age of 72 and she never had or used credit cards and she died 100% debt free with money in her pocket, so to say.
Life is what YOU make it,
Most just try and fake it...
anonymouse
Posts: 52
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8/26/2015 2:27:34 AM
Posted: 1 year ago
At 8/23/2015 7:30:05 AM, Electric-Eccentric wrote:
I was curious of how many others that read and post around these forums are 100% debt free and don't try and live on credit as is popular these daze.

I myself have no debts owed as I never believed in credit cards and such as I saw the TRAP the play money was put in.

Debt = money. Autism = you
Electric-Eccentric
Posts: 1,309
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8/26/2015 3:18:00 AM
Posted: 1 year ago
At 8/26/2015 2:27:34 AM, anonymouse wrote:
At 8/23/2015 7:30:05 AM, Electric-Eccentric wrote:
I was curious of how many others that read and post around these forums are 100% debt free and don't try and live on credit as is popular these daze.

I myself have no debts owed as I never believed in credit cards and such as I saw the TRAP the play money was put in.

Debt = money. Autism = you

EE: Hello Ms. Sock Puppet

mind that $ack of potatoe$
Life is what YOU make it,
Most just try and fake it...
Electric-Eccentric
Posts: 1,309
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8/28/2015 5:20:14 PM
Posted: 1 year ago
I find it interesting that there are very FEW that understand that CHOOSING to be in debt is not very WISE if you view the concepts from a more grown up and mature in thought and reasoning type understanding.

I do understand that "Mother Nature, Father Time" and the obstacles in our personal day to daze lives can cause debt that is not chosen of FREE will choice.

I file that under

POO HAPPENS

some keep going as best they can and others mostly complain about the price of eggs.
Life is what YOU make it,
Most just try and fake it...