59 thoughts on “Let Me Ask You A Question – 12/2/16

  1. I think it’s important. Is it possible? The way things have been since 1998, I doubt it, unless one’s quite wealthy and doesn’t have to rely on credit at all.

    My opinion, of course.

      1. I’m not sure what a sacrifice is, I usually am a pretty spoiled brat, even if I don’t use debt to make that a reality! Lolololololololol yet, yes, I’m a minimalist kinda girl.

  2. It is possible. I not only did it, my son also graduated from college with a Mechanical Engineering degree this year! As the earlier blogger stated, it’s all about hard priority, and for me discipline was huge because I was a previous free spirit! I started my debt free journey at 43, attained it by 50! It is why I teach Dave Ramsey’s Financial Peace University. Those that don’t believe it can be done, only need to tune in to his show. Every day there are debt free screams, and I know a few that have achieved it!

  3. My dad insisted on a dept free life. If we didn’t have the money, we didn’t buy it. Period. The only dept was the mortgage, but he paid that off when I was in HS. So, yes, I think it is possible to live dept free.

  4. That is what my life is like no debts and hardly any bills to pay, plus always something for a rainy day just in case. Saving is an art overspending a vice and a chain with a heavy weight round the neck. The fact is that after the basic necessities plus a tiny bit of comfort one doesn’t need much more to be happy. In fact the more one has the more dissatisfied and chained to the demon of consumerism one is. As for me I really wouldn’t don’t know what to do with lots of money, to me it’s a nuisance and the less things I have the lighter and freer I feel.

  5. You mean after the college, mortgage, hospital, insurance, etc bills that everyone has? To live unplugged in the wilderness, maybe. Otherwise, no. Not even if you don’t own credit cards and only pay in cash. .?

    1. I know many people who live in the modern world but don’t have debt excluding maybe a mortgage. It is attainable but most people do not live within their means to do so.

  6. I teach financial literacy classes to high school students. One of the main points I try to get across is living within your means. So many people just have to have everything they see. I try to teach these kids that having money in the bank is more important than having an expensive pair of shoes or the latest cell phone. My philosophy? Why have an $800 purse with only 80 cents in it!

  7. It’s unreasonable to be debt free, entirely. Unless you’re able to pay cash for a car or a house or replace a roof, etc, one is going to have some debt. However, living within ones means, or below, on a daily basis, and not relying on credit cards, is vital to a secure financial present and future. And paying off those big-ticket items ahead of schedule is wise. I can’t imagine living in overwhelming debt. It’d seem like drowning. Unfortunately, millions do live under crushing debt. I feel for them.

    1. So do I. Living completely debt free is possible and does not require one to be wealthy, but does require tremendous sacrifice. We do not pay for cable TV, rarely eat out and only pay with cash. I cannot imagine a life in which someone lives with debt either. So heavy.

  8. Interesting topic. My parents were proud of their debt free status. They grew up during the Great Depression and believed debt was evil…until it came to paying for my college tuition. they didn’t think college was necessary and let me know that if i wanted to go, I had to pay my own way. As a result, I am far from debt free 🙂

  9. I think it’s possible, but hard. On the other hand, if one knows how to manage their debt, I don’t think it’s all bad. We have a mortgage, and 1 car payment. Other than that I have about $500 in credit card debt (that I’m paying no interest on,) which was from septic maintenance. I learned early on the importance of living within my means!

      1. At one point in my life I was poor, no money poor. At another point, when I stayed home with my son for 5-6 years, I again had to make do with very little. I take comfort in knowing I can pay the bills!

  10. I believe it is important to live a debt-free life month-to-month. Meaning, very few people can go out and buy a place to live and a vehicle to drive with cash, but those monthly payments should be within a budget that allows a surplus of cash at the end of the month.

  11. I was raised by a mother who has been frugal since I could remember. She’s one of those mom who lie when you pass by McDonald “We have food at home!” Or “are you watching TV or is the TV watching you? Turn it off!” haha. Finally got my own place with my bf of 10 years, moved to a new state, and I’ve also been dating his student loans haha. His career takes him away so much because we’re trying to keep our home, build our savings account, and stay afloat.Today, I am officially my mother haha. Then I realized, because of our debt we hardly spend time together, he’s barely home and it is all because of our debt. We began budgeting and making real sacrifices to pay off all our debt. So far, we have sacrificed the entire 2016 being apart to pay off $22K and he can be home more to enjoy our new home.

    Being debt-free gives you the freedom to stop stressing so much whether you will be able to have a home the next month, will you have heater during winter, do we have enough for groceries, or can we take a little road trip for our anniversary?

    Is it possible? YES! In nine years, our debt totals to $50,000. Today we are $22k in debt ($10k acquired this year) and we were living paycheck-to-paycheck, one income, and always late on payments for the first 3-4 years. It’s not easy, you make a lot of sacrifices, you will want to give up, but it is so worth it when you see your debt decrease. 🙂

      1. It does. I have tried helping friends of mine out of debt, but they don’t want to make the sacrifices like cutting cable TV, buying discount groceries or using coupons, cooking at home, taking lunches to work, etc. Money adds up quicker than people think when you eliminate everything which isn’t vital.

      2. I couldn’t agree with you more. Little things we don’t pay much attention to really does add up. Example, drive thru Starbucks are so convenient. Now say, you work 5 days a week and the drive thru is a routine. Average you spend each morning is $10, that’s $50/week and it could easily be gas money instead.
        The way I see it, you cannot offer help to someone who doesn’t share/see the same “big picture” as you. They know what they should do to become debt free, but would prefer an option that allows them to pay off their debt without giving up anything they’re already use to.

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