Does debt make you nervous?

Sigarms · Oct 14, 2005

Up until two years ago I was single and never married, have a decent job and enought money in the bank to do WHATEVER I wanted (37 years). Married now, with a new house, decent amount of land, and debt up to my eyeballs.

Wouldn't change a thing.

Only live once and if you do it right, once is enough.

When your six feet under, you have as much as everyone else /forums/images/graemlins/laugh.gif

AndyM · Oct 14, 2005

My wife and I lived in a small 2 bedroom house in town until we built our new house about two years ago. We were just remarking that the old house would be paid off by now if we had stayed there. Now we have 28 years to go on this one. /forums/images/graemlins/frown.gif

However, we have enough equity in the new house already where we could sell it and pay off all outstanding loans-- student loans, tractor, and both cars, and still leave us with enough money to put a small down payment on a little bungalow down in the hollow. We just need to make sure we sell before the real estate market peaks and starts heading the other way.

frank_f15 · Oct 14, 2005

( Yeah, the national debt makes me very nervous. )

NOT ME!!! IT MAKES ME EXTREMLY NERVOUS /forums/images/graemlins/frown.gif If i was in debt to the extrem the Goverment is i would be unable to sleep come to think of it the Goverenment is US , so i guess i am in debt. /forums/images/graemlins/confused.gif but on a personal note our entire debt is about $300 house is paid, cars are paid, tractor is paid etc. but it was planned that way before i Retired. But when i was younger i had debt like everyone else.

hitekcountry · Oct 14, 2005

Correct me if I'm wrong but I do believe we're (USA) now to the point where we're borrowing to pay the interest on the debt.

When and how will it end?

RedDog · Oct 14, 2005

my share of the national debt is $26,866.45. 

It is absolutely rediculous!! /forums/images/graemlins/mad.gif

I don't think some of the posters realized that you were talking about National debt, not their own debt. /forums/images/graemlins/blush.gif

RedDog

AndyM · Oct 14, 2005

I don't think some of the posters realized that you were talking about National debt, not their own debt. 

I realized it, but I figure if since the thread was going that direction, and since it was an interesting subject, I would post a reply on that instead. /forums/images/graemlins/smirk.gif

I can control my own debt, but there's really nothing I can do myself about the national debt, is there? /forums/images/graemlins/confused.gif

To20Chris · Oct 14, 2005

Not anymore - too late.

YanmarFever · Oct 15, 2005

I cant sleep when I owe $$$ Thats why I never borrow any. /forums/images/graemlins/grin.gif
We are totaly debt free, home, cars, candy,ect...

Spiffy · Oct 15, 2005

Until a few weeks ago, I was of the exact opinion. My great grandfather said "if you can't pay cash, you don't need it".

Somehow am convinced the PT can make it's own payments....so the bank now owns me. Time will tell whether my decision was smart, but don't think I'll regret it. /forums/images/graemlins/crazy.gif

LMTC · Oct 15, 2005

Ernie...no line at the bank for the business? If not, then my hat's off to you, you done good.

We have no personal debt, but do use a credit line from the bank for our family business. That means that at least half the year (in a good year) we have debt, but merchandise to show for it, and half the year (in a good year), we are solvent. In a bad year, we may carry part of that debt through the year, but our rule is to never let the debt exceed the one half of the actual cost of inventory....which optimistically means we could become solvent quickly in a pinch.