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re: Anybody here completely debt free?
Posted on 1/13/15 at 3:04 pm to Tiger Ryno
Posted on 1/13/15 at 3:04 pm to Tiger Ryno
The only thing I have as far as debt are car payments. Before that I was living debt free.
0
Posted on 1/13/15 at 3:07 pm to WDE24
quote:
or regret the fact that you've probably not managed your finances properly, if you have absolutely no debt.
love when the amateur hedge fund managers show up in these threads.
Yup. I understand the idea that debt can be less expensive and the money can fund possible investments, but if you could make 2.9-4.25% risk free, you would take that every time... That's what it's like paying off debt at these levels. A penny saved is a penny earned.
This post was edited on 1/13/15 at 3:08 pm
Posted on 1/13/15 at 3:10 pm to Tiger Ryno
What is debt?
Posted on 1/13/15 at 3:15 pm to WDE24
quote:
when the amateur hedge fund managers show up in these threads
I know right? like its impossible to be debt free AND also have investments for the future/retirement, etc..
Posted on 1/13/15 at 3:20 pm to SouthOfSouth
quote:
I know, but you can get better rates with 15 year and I can afford either. So I mean, it makes sense to me...
Unsolicited, but make the 15-yr payment on the 30-yr mortgage. If shite gets real with your finances, you can reduce back to the 30-yr payment. Gives you more flexibility.
Posted on 1/13/15 at 3:22 pm to iknowmorethanyou
quote:
Unsolicited, but make the 15-yr payment on the 30-yr mortgage. If shite gets real with your finances, you can reduce back to the 30-yr payment. Gives you more flexibility.
Great idea in theory. However, most people don't have the discipline to continue to do this.
Posted on 1/13/15 at 3:24 pm to Will Cover
sad but true.
Posted on 1/13/15 at 3:26 pm to Tiger Ryno
Debt free but about to buy a new car. Rates are too low not to use somebody else's money.
Posted on 1/13/15 at 3:27 pm to Three-n-Snout
I wouldn't buy anything less than $50K. if you are going to use cheap money, use lots of it!
Posted on 1/13/15 at 3:32 pm to iknowmorethanyou
quote:
Unsolicited, but make the 15-yr payment on the 30-yr mortgage. If shite gets real with your finances, you can reduce back to the 30-yr payment. Gives you more flexibility.
I totally understand this idea and it was what I was going to do initially, but I can still get a better rate with a 15 yr loan rather than a 30 year loan. The 15 year rates are ~ 1% lower because there is less risk on their part of being stuck in a low interest loan with higher rates.
Posted on 1/13/15 at 3:34 pm to SouthOfSouth
plus you save money
Posted on 1/13/15 at 3:35 pm to Tiger Ryno
The 15 yr rate I was just quotes, 0 points was 2.85%... I don't think I could get a 30 yr rate for less than 3.5%
Posted on 1/13/15 at 3:35 pm to SouthOfSouth
quote:
I totally understand this idea and it was what I was going to do initially, but I can still get a better rate with a 15 yr loan rather than a 30 year loan. The 15 year rates are ~ 1% lower because there is less risk on their part of being stuck in a low interest loan with higher rates.
I would pay mine in 15 years if I was in position to. It's a lot easier to make the 30 year payment for me since my wife has dropped back to part time with a baby at home.
Posted on 1/13/15 at 3:39 pm to Tiger Ryno
I've paid off everything besides my mortgage. I Bought the house in 2013 and I'm on pace to have it paid off by the end of 2018. I've been working around 130-140 hours per pay period.
Posted on 1/13/15 at 3:50 pm to Tiger Ryno
Completely debt free, but I also have mediocre credit and zero assets!!! 
Posted on 1/13/15 at 3:51 pm to Tiger Ryno
Yea but I'm in college. Does that count
Posted on 1/13/15 at 4:06 pm to Tiger Ryno
Post this again in about 30 years and I'll come with some dancing banana
Posted on 1/13/15 at 4:12 pm to Tiger Ryno
Only thing I owe is my mortgage. Have equity though.
Posted on 1/13/15 at 4:14 pm to Tiger Ryno
Yep. It's great.
Posted on 1/13/15 at 4:22 pm to Tiger Ryno
(no message)
This post was edited on 12/20/18 at 1:36 pm
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