Debt and Fire

[SteveR]

I believe it is aimed at the average American who is in debt up to his/her ears. I know people like that and they live in fear of the collector. And, as I grew up poor, I believe that debt is a killer.

I agree. My new wife's kids (grown with families) live paycheck to paycheck and are up to their asses in debt. One has already filed Chapter 13 but is building a new house that is over their heads. They are doing a lot of the work themselves to save some money but they have not planned ahead and are running out of money to finish the house. It hurts to see them stuggle but they won't listen to anybody about saving instead of spending and the other one has not saved a dime for their retirement or kid's education. Live for today and hope for tomorrow seem to be their mantra right now. My wife used to live that way too but she now sees the light and it trying to get her kids to stop spending what they don't have. Debt is fine for leverage of RE and some other investments but using a CC at 20% int. to buy stuff you really don't need is way beyond dumb.

 

[Telly]

We use plastic for almost everything, but always pay it off when due. The statements make it easy to track expenses. We have really cut down on the use of cash, cash was harder to account for. It just sort of dribbled away.

I view debt as bad. Only debt ever was the mortgage on the first house. And as time went on, we added extra principal to the monthly payments and paid it off early. Maybe I'm weird. But then, I ER'd <50, and no one else I know has  8)

 

[goodguy1_64]

I listen to Dave Ramsey occasionally and all-in-all I think his message is appropriate for a large portion of the population.

and FYI: His site does not accept credit cards.

Oh, and I didn't know he (Ramsey)  lets you charge stuff on his site.  Now that takes large ones, don't ya think?  Talk about hypocrisy!

 

[maddythebeagle]

sure dave does, I signed up for his premium services so that I could download his show and used a credit card. Somebody else on another board said that you can but he says that his system cant tell the difference between a cc and debt card. I dont own a debt card.

 

[haha]

My wife used to live that way too but she now sees the light  and it trying to get her kids to stop spending what they don't have. 

If she figures out a way to do this, would you please pass it on to me?

Ha