Did you take out a loan or pay cash?

[Rob B 922]

Cash is king, debt is dumb. I just don't understand why people continue to buy things that they don't have the money for. I don't care how many credit cards points you get, no one has become rich off Disney visa points. </End Rant>

 

[jlewisinsyr]

Cash is king, debt is dumb. I just don't understand why people continue to buy things that they don't have the money for. I don't care how many credit cards points you get, no one has become rich off Disney visa points. </End Rant>

Debt must exist for an economy to exist. Debt is not a 21st Century or American concept. Debt has existed for centuries.

Now irresponsible debt, that's another story.

 

[lapeter]

Just want to clarify that when you use a line of credit on your home, that is financing the purchase. For some people using the line of credit is fine, but for a lot of people, using the line of credit on their homes has been a big problem.

 

[Mickey'sApprentice]

We had some money burning a hole in our pocket, and bought a 100 point resale. In the past, we would have definitely financed.

However, DH and I had a long hard road of digging ourselves out of credit card debt. We were never late, but we were working for Citibank instead of for ourselves for about 10 years. Never again!

We seriously thought about financing 50 BLT points before the minimums went up, but decided that we need to spend that money on a car. Financing both could have eventually made us pick up our credit card habit. That's not going to happen in this house. EVER!

Of course you'll have more money if you never spend anything and live like a hermit. Its ok to use credit, as long as you are very conservative with it. We still have no use for credit cards, and never will.