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Old 01-08-2013, 09:22 AM   #8
Rogillio
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Join Date: Apr 2006
Location: Alabama
Posts: 2,031

Quote:
Originally Posted by jbshell View Post
we are completely debt free except for mortage and car payment. . but live on just hubbys income since I am a stay at home mom... I refuse to use credit since its takin us 9 years to become debt free.. my inlaws have a permanent camping site at a jellystone park so thats as far as thy get every year for a vacation our oldest is only 8.. and youngest is 7 months at least when we do cruise the baby will be 3





thanks everyone

starting our research for our first cruise ... I reasearch a ton this momma likes planning and budgeting


Part of the fun of DCL vacations (or any vacation really) is the planning and anticipation.

I don't know why people think "debt free" means they can still have a mortgage and car payment and call themselves debt free? Credit card debt is higher interest but you can get a home equity loan at like 2.9% interest and use it for anything you want to use it for. Debt is debt. Period. Get a home equity loan (second mortgage) and pay off all your credit cards, car loans, student loans and other loans....are you any less in debt? No. You still owe the same amount of debt.

But again, nothing wrong with debt! Just look at what the debt is costing you and decide if that cost is worth it. IOW, if you own you own home but owe a gazillion dollars on it, you are paying 2 gallion in interest....we we accept this because we want to own our own home. Same with a car. We can drive a clunker for 10 years till we can save enough o pay cash for the car or we can accept the fact that a 20k car will cost of 23k after we pay the interest but we can enjoy the car NOW and not wait for it.

It all comes down to priorities. Is it important for you to live in a 3000 sqft home in the best school district and the nicest neighborhood or would you be happy in a 2000 sqft home out in the county somewhere. I mention houseing because as I've said, that is the biggest money sink in people's lives. Some people spend their entire life a slave to their mortgage. They build a little equity in their home and they sell their house and buy a bigger/nice/more expensive house. We have lived in our modest house for 23 years...we could easily afford a bigger/nicer/more expensive house....but then we'd take less vacations, we'd eat out at restaurants less, we'd have fewer toys and gadgets and electronics, we have older cars, we'd go out to the movies less, etc.
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