 Quote:
|
Originally Posted by Jay_Gatsby
The feeling one gets from being debt free is great, but you must be careful not to let other expenses take the place of the eliminated debt.* This is why certain low-interest debts, like mortgages, student loans, etc...paid automatically from one's bank account, can act as a governor on spending.
|
I don't see this as much of a concern for most of the folks here. My assumption would be that once the debt is gone those funds would then flow into some sort of savings/investment account to fund FI and ER.
I don't see a lot of free spending from most people on this board so the "governor" for spending would be saving for those working on FI and ER or who are already in ER.
__________________
Work? I don't have time to work....I'm retired.
|