It really is a shame most of America has this mindset. It really is.
Let me ask, have any of you taken a finance class (which I scored an A+ in), talked to multiple people who have real world experience with debt and savings, done extensive planning of your future, many calculations involving payments, funds, and savings, and have a mom who once bought $100 worth of food at Shop 'n Save for $0.01 (who just so happens to be one of the people who I have talked to about financial planning)?
See, I don't know what you guys have been taught, or where you get your information from. And I won't pretend to know that, either. But none of you have provided me any solid evidence showing you that what I'm saying is impossible. My family actually lives by what I've been talking about this whole time (although we do have credit cards, but they are paid off in full each month). We own all our cars; we always have. We pay for our house without any loans. We're going on vacation in two days, have a sister that takes multiple dance lessons year-round, and my brother and I are part of two robotics teams. I have 4 siblings total. And yet we live happily, year round, on only a moderate income,
with absolutely no debt. Don't talk about impossible when it comes to debt. Impossible for a man to jump into space and survive? Sure. Impossible to live a life without borrowing other people's money? Come on, guys, really? It has been done before.
100% of them used loans.
of course they advice to not be in debt. thats the goal regardless of what your situation is.
but that dosnt mean they didnt take out loans.
and there is a huge difference between living well, and becoming super rich (which seems to be whats implied, and thats a ridiculous life goal lol)
By the way, Bisjac, I wasn't necessarily implying I wanted to be rich - I don't. And no, many of those people became rich with little to no debt. A lot of them drove crappy cars, lived in apartments, and did exactly what I have been talking about. I'm not talking about movie stars or rapper/pop stars either; I'm talking about the people who tried to build their wealth by hard work and virtue.
I personally would avoid using a credit card as much as possible, since I find it much easier to manage money by sticking to actual money I have. Which is why I use a debit card.
But I will probably have a credit card at some point. They are useful, so long as you're responsible with them.
And having a good credit rating from using them responsibly can be beneficial at times, such as if you're in need of a bank loan or a mortgage.
When it comes down to it you simply have to make sure you do not live beyond your means.
If you can't afford something, or won't be able to repay a loan/credit for something, then don't buy it.
I'm currently applying to Universities at the moment so I can enroll in September 2014.
My first choice is the University of Swansea, Wales, to study Classical Civilisation.
But I'm also applying to Warwick Uni and Nottingham.
sir dooble, you are by far one of my favorite forumers. :)
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