I had a lady try to get me to discuss how to get out of debt the other day.
She starts by telling me how in debt she was and she is down to “x” dollars in just two short years.
1st I was thinking the original amount didn’t sound that bad, so her accomplishment seemed pretty unremarkable to me.
2nd I didn’t find her credible and since she was goading me I told her I have no debts except the IRS and there’s only so much I can do about them.
She then goes into how I just took a loan on the car I just bought and I tell “Look, my car broke down, I needed a new car and since I rarely write checks anymore I didn’t have a check with me”.
I took a loan and the day I get my 1st bill ill call and find out what payoff amount is and have my bank create a cashier check for it”.
I don’t care for paying for things on credit but it’s not a big deal if you need it temporarily.
She was floored and wanted to know how I do it.
I told her don’t have the money for that thing you want? you don’t needI.
Like fancy clothes, watches, jewelry? fine but never pay retail and always pay cash.
If you have to use a credit card make it for emergencies or temporary problem solving.
You’ll sleep better and certainly better than your idiot neighbors do today and you old age years will be focused on having fun.
When it comes to dating I never, ever discuss my financials. None of their business, causes problems and just ain’t smart.
I also never tell anyone how they should money if they ask me. Wouldn’t want to blamed if their decision were irrational or went south or they didn’t really have a good plan.
And that’s the key “PLAN”. It’s a good discipline and you’ll sleep better.
Screw what your neighbors think they can afford. They are a joke usually and kidding themselves.
I can afford a Mercedes or BMW but, no one is impressed with what I drive as they rarely see it and I like Ford anyway. just bought the Fusion and in a year, for my 50th, I’ll lease a shinny red porsche. I don’t get attached to cars so owning the Ford makes sense as I can dump it in 2 or 3 years and get whatever new model Ford I want and leasing the Porsche affords the Sam opportunity.
It took us 7 years to get debt free. That was 10 years ago. Add up how much interrst you pay in a month. Then get rid of it. I pay no interest. Could not get a car loan if I wanted one. We pay cash for cars and everything else. Amazing how poor interest payments will make you and how rich borrowing yourself to the poor house will make srem.