Let's talk personal debt

[jrguns]

Plan A. Get out of debt and stay that way. I worked hard and paid my house off in 6 years. Best thing I ever did.

 

[tmguns]

Plan A. Because with all the jobs The USA is losing it would be nice not to worry about a house payment.Because the price of health insurance is so HIGH that I could take that money and help pay that bill.

 

[Preacherman]

I would choose plan "get out of debt" and pay off the house.

Pay off house lose job and you still have a place to live.

Anything OKCSHOOTER says about finance you can take to the bank.

 

[761mph]

i chose plan A
my house was bought in 1980 when interest rates for first time buyer was around 13%
with first time buyer bond money through the county the interest dropped to 9.99%(the only way we qualified for the loan) on a 30 yr note
after putting up with 20 yrs of dealing with constant changing my monthly payment and the loan being sold to 6 different lenders, i cashed in a CD and paid the loan off 10 yrs early
i kinda wish i would have put in more towards my principle than i did, rather than building my CDs up
my only bills now are the utilities and whatever i put on the CCs, the rest goes in rather safe investments and things that go BOOM or VRROOM

 

[n8thegr8]

I hate being in debt, but I'm trying to come to terms with the fact that it's going to take me a good 12 years to pay off all my debt (student loans, mortgage, vehicles). If i had the opportunity to be out of debt, i would take it in a heartbeat.

 

[willystruck]

Have to agree Plan A is the way to go. Job market is uncertain. Investments are uncertain. Wife and I have a home that is Paid In Full. Our income is not great but we can pay the taxes and insurance, utilities, food, gas and whatever few necessities we have at this time.
Bottom line is NO FINANCIAL WORRIES.

 

[Nilbog]

I paid mine off a couple of years ago. It's a great feeling to be debt free.

 

[sleeperx4]

A. No doubt about it.

 

[kirk1978]

Id go with A but Im not a business person. I want no debt and to have a savings/material goods and a 401K. I have a feeling all the ammo I have will be my greatest investment.

 

[Kozmos]

A. Our financial advisor understands that some of our decisions are for comfort and not always what he would advise. I sleep well at night knowing our house is paid for........then we went and bought another house and land. So now once the paid for house is sold I'll be back to sleeping well. Unless its zero percent, it should be paid for.