Are prices like this everywhere?

[MossRoad]

It's never about how much you make, it's about how much you save.

Which is why we don't have loans.

 

[Snobdds]

Which is why we don't have loans.

which makes it impossible to have a good credit score...

 

[Cougsfan]

Any close "friend" that did that to me would be the last time I lent my time or equipment unless he paid for it.

My take on that kind of response is that you might be rather unforgiving and probably not morally superior to your friend.

 

[Snobdds]

You don't get to write off the interest unless you pay more in interest than the standard deduction. DUH!

That's $25,900 for a married couple filing jointly for 2022.

More than interest goes into the standard deduction...which when combined with other deductions, makes that interest write off glorious in a raising rate environment.

 

[MossRoad]

which makes it impossible to have a good credit score...

No it doesn't. We have had no loans since 1995 and have an outstanding credit score.

 

[tallyho8]

which makes it impossible to have a good credit score...

I accidently hit the Good Post button. I have not had a loan since I bought my first house in 1973 and paid it off by 1978. My credit score has been over 800 for many years. I would never pay interest on a loan to try to raise my credit score. I have credit cards that pay me back rebates and I pay the balance in full every month. There are many different factors that determine your credit score.

 

[tradosaurus]

My take on that kind of response is that you might be rather unforgiving and probably not morally superior to your friend.

My experience in life has taught me that people like that neighbor are good at taking and not as good at giving.

I don't how you drew the conclusion you did but must have majored in art.

 

[MossRoad]

More than interest goes into the standard deduction...which when combined with other deductions, makes that interest write off glorious in a raising rate environment.

In 37 years of marriage (today, happy anniversary sweetie) we've itemized every year and never once beat the standard deduction. Kids. Mortgage. Medical expenses. Property taxes. Sales taxes. All of it. Not once. Yet we've managed to pay off a house. 20 acres of land. Another house. Sent 2 kids to private school k-12. Both to Purdue debt free. Take great vacations and drive decent cars. Saved about 4 decades worth of income in investments, too. Add to that social security, the value of our house, land and possessions, we have enough cash to last us well past 110. All on two people making average wages and living below their means.

Debt free is the way to go.

 

[Snobdds]

No it doesn't. We have had no loans since 1995 and have an outstanding credit score.

LOL...

 

[MossRoad]

I accidently hit the Good Post button. I have not had a loan since I bought my first house in 1973 and paid it off by 1978. My credit score has been over 800 for many years. I would never pay interest on a loan to try to raise my credit score. I have credit cards that pay me back rebates and I pay the balance in full every month. There are many different factors that determine your credit score.

If you go back and hit the good post button again, it should take it back. Give it a try.