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Old 01-26-2012, 10:57 PM
16n69 16n69 is offline
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Location: LV NV
Join Date: Feb 2011
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Mein Auto: BMW 3 Series M3
Originally Posted by palermo22 View Post
I agree with the person above you about debt (and he was actually agreeing with me) - that is why I don't lease or borrow - no need to have debt - I can plan my life better. And I think this is what separates generations: for example, cell phones: yes, I have one - we average $100 per year - we're on a prepaid plan and pay about 6 cents a minute - so answering what you asked the other person - I prepay my phone for four months and pay $25 - $30! I do actually have some debt - a mortgage. I live in an exclusive golf course community and my mortgage is about 25% of the value of my house. I can afford my house because I have no other debt.
If we went back to the time honored principles that if we cannot afford to pay for things comfortably with the resources we HAVE...don't buy them, this country would be in better shape, starting with our govt. right on down to us!
To finance things that deprecate and drop like a led zeppelin...then pay hefty finance charges on top of it...not very wise.
A home has traditionally been the biggest and in many cases, the only investment one can have, therefore acceptable debt...not the same as depreciating items.

Last edited by 16n69; 01-26-2012 at 11:00 PM.