re: One in four Americans has more debt than savings

OK, it's time for me to tell my Lucy story for the newer posters who haven't heard it.

Lucy and I were both divorced and single for 3 years when we met and we were dating back around 1995. I went to her house to clean up and saw bills on her dining room table. One was a Visa card bill for 28K.

Me: What did you buy for 28K?
Her: My new Eclipse. Isn't it a nice car?
Me: Yes, but at the rate you're paying it off you'll be spending 100K.
Her: What should I do?

I walked her to the bank and took out a conventional loan at 6 percent. She paid it off in two years. We've been married for 17 years. She lets me handle the money.