How much debt does your household carry, including car loans, student loans, credit cards after your monthly payment, etc.?
i wish the other poll hadn’t gotten so far off topic and locked. can we try this again???
here was my answer
i consider debt not only an evil but something that keeps you from being able to go where God calls. i grew up in family full of debt and was determined to never have it rule my life.
i waited to buy a car with payments until i was 5 years out of college and could pay it off in 2 years.
i payed for 80% of my college (private Catholic) tuition for 3 years (the last 3 semesters i was on 90% scholarship) by working 2 jobs
i don’t carry a balance on credit cards but we do use them to put all our expenses on and pay it off at the end of the month. we’ve earned 4 plane tickets and 5 hotel nights on cards. makes for very cheap vacations:)
i could never afford to own a home when i was single (catholic school teacher) so when i got married and saw that DH’s mortgage payment went like this:
and $95 went to principle
I freaked out. I had no idea that was how a mortgage worked. so we lived off my salary (1/2 of his) until i beame a SAHM and put all his into paying down the mortgage. it now goes like this:
$650 principle and of course we still pay we extra on the principle and will be without a mortgage in time to start paying for Catholic school
i don’t know any other engineers wives that do the things i do to save money, use cloth diapers, make my own baby food, not get a minivan, walk to the grocery store when the weather is nice, live without a dryer for a year, keep the thermostat on 80 degrees (in FL mind you). most people i know are in debt and don’t do these things. it boggles my mind. i like how dr. phil says that money doesn’t solve money problems. if a person doesn’t know how to handle money, giving them money will not help. they have to learn how to handle money
another intersting things: in my business ethics class in college the priest that taught it pointed out that it used to be considered wrong to charge intereste because you were puting a price on time and time belongs to God alone. i thought that was interesting