Trying to get debt-free

Discussion in 'Economy' started by Middleman, Aug 7, 2010.

  1. Middleman
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    Middleman Defender of the month

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    I've been working hard to finally finish up with any and all debt. In a year I think I'll have my house paid off.

    I think we all need to work on getting out of the slavery of debt.
     
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  2. Madeline
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    Madeline BANNED

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    You are so right, Middleman.

    Wanna get hitched?
     
  3. Middleman
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    Middleman Defender of the month

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    Thanks for the offer. :eusa_angel:
     
  4. blu
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    blu Senior Member

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    debt isn't always bad. many people keep debt because they are making higher percentage on investments than the loan's interest rate. people who are in debt due to lack of self control are jackasses though. its great you are getting out, will be a great feeling.
     
  5. xotoxi
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    xotoxi Platinum Member

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    The only way I'll be debt free would be if I died.
     
  6. Big Black Dog
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    Big Black Dog Gold Member Supporting Member

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    It's not a good time to be heavily in debt. You need to be able to lay your hand on some fast cash if needed. That's why I have $18.47 in a sock under my bed. It's my emergency fund. If the emergency is bad enough, I'll use it to buy a case of beer.
     
  7. Middleman
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    Middleman Defender of the month

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    I have $1200 in cash, plus $10,000 in a money market, 3 rentals, but still owe money on my house. I've really cut back to pay off my final debt.
     
  8. American Horse
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    American Horse AKA "Mustang"

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    Congrats! I once thought we'd never get that done. We borrowed large sums for land development projects, and finally got them all paid off with some to spare. We could pay off a 30-k mortgage, but keep it alive, preferring to be flushed with cash than totally debt free due to uncertainty with the economy.
     
  9. xotoxi
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    xotoxi Platinum Member

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    You should convert that $18.47 into pennies.

    Then you'd would no longer need a pistol under the bed for protection and you'd be able to sell it for cash.

    You could pick something up nice for the misses...like new socks or something.
     

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