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To: CSM

It makes me a little ill reading some of the comments from conservatives on the necessity of personal debt (”but I get 2% cash back!”). I’m not going to check past posts to see if these same Freepers are complaining about government deficits, but I suspect some have.

We’ve been working the Total Money Makeover since late 2009 and will be debt free but the house next year. The house should be paid off 5-6 years after that.

I will never again owe a dime to a bank EVER.


47 posted on 01/04/2012 4:51:59 PM PST by brewer1516
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To: brewer1516

“We’ve been working the Total Money Makeover since late 2009”

I will hit my 5 year anny next month....

” and will be debt free but the house next year.”

You will love the peace that it brings to your life. However, be warned, for me there was a bit of a lull. I found that I was so excited watching the debt decrease that somehow I was not getting that same excitement watching my savings grow. It took a few months and finally the same level of excitement returned.

“The house should be paid off 5-6 years after that.”

I’m on pace to only have 21 more months. It is almost time for me to start planning my mortgage burning party.

;-)


51 posted on 01/05/2012 8:45:31 AM PST by CSM (Keeper of the "Dave Ramsey Fan" ping list. FReepmail me if you want your beeber stuned.)
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To: brewer1516
It makes me a little ill reading some of the comments from conservatives on the necessity of personal debt (”but I get 2% cash back!”).

Hmmm, maybe you are referring to another thread?

I did a quick check, and didn't see anyone advocating personal debt. But maybe I missed one.

Personal credit is a lot different from debt. Using credit responsibly can make life much simpler, and profitable.

For instance, we use credit card rewards to effectively discount every purchase by 1%. We have no debt, because we pay off the credit cards -- in full -- every month.

The interest rate doesn't matter, because we don't pay any. We pay no annual fees, except on one that gives me a free benefit every year that is worth up to double the annual fee.

Is there a temptation to over-spend? Sure. But, a little self-discipline goes a long way. Applications like Quicken to manage your personal finances really help, too... Once it is set up, you can look out a couple of months and instantly know whether you are charging more than you can pay when the bill is due.

53 posted on 01/06/2012 7:55:44 AM PST by justlurking (The only remedy for a bad guy with a gun is a good WOMAN (Sgt. Kimberly Munley) with a gun)
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