Sound Off - 100% Debt Free

[Fj605]

Day care is almost like a second mortgage.

After paying for daycare for two kids, my wife's take home pay was almost nothing, so we decided she should just stay home with them. My wife was actually very excited about that. It stresses me out that we only have a single source of income.

 

[Jape]

Could always be worse. I've paid my deductible every year since 2005, and hopefully will every year for a long time.

I don't know how folks can afford kids. The daycare that some of my coworkers pay is just flabbergasting. It's definitely not an easy time in our history to start a family.

No kidding. I have four kiddos and between all their activities it gets crazy expensive. Having said that, I can't imagine life without them. Give and take.

 

[Nick87]

After paying for daycare for two kids, my wife's take home pay was almost nothing, so we decided she should just stay home with them. My wife was actually very excited about that. It stresses me out that we only have a single source of income.

Your not alone there, but I wouldn't have it any other way.

 

[JDH]

My wife and I were debt free at one time...now we have a mortgage.

 

[npaden]

Still have a mortgage. I have it set up for annual payments instead of monthly so I can double up on my itemized deduction every other year and take the standard deduction in the intervening year. (i.e. I paid my annual payment on January 2, 2019 and then I will pay again on December 30, 2019 so I will have 2 years worth of interest to deduct this year). I do the same thing with my property taxes and charitable donations.

I have more than enough in an after tax brokerage account to pay off my mortgage tomorrow if I wanted to, but it has earned way more than my interest rate on my mortgage is over the last 10 or 15 years so that's why I am not debt free.

Mortgage will be paid off in 5 years so I'm going to have to decide whether or not to intentionally get another mortgage on a paid off house, or just end up being debt free. Most likely I will just roll the mortgage payment (plus some extra) into paying for my kids secondary education (college most likely) and keep the house debt free.

 

[pointingdogsrule]

Debt free about 15 years . So incredible not to have any bills except electricity, telephone and LP bill.

PS: It's amazing to see how fast the saving account accumulates

good luck to all
the dog

 

[Dave N]

I wish...

 

[Addicting]

I wish...

Dave on the bright side your giving half of that debt away.

 

[520 Road Sow]

Dave on the bright side your giving half of that debt away.

Not sure if I should like that with a thumbs up or lmao face........ it's not funny.

 

[Addicting]

Not sure if I should like that with a thumbs up or lmao face........ it's not funny.

I had second thoughts about it, but it’s a glass half full kinda thing. There has been way to many half empty glasses on the forum this week.

 

[Dave N]

Dave on the bright side your giving half of that debt away.

I would almost agree but if we get what we want out of the cabin we would then be debt free. Until I borrow against our house to buy her out. Guess I could sell this place too and go rent somewhere until things shake out. My parents are both healthy and just may outlive me! Maybe I'll buy a lottery ticket.

 

[hank4elk]

Debt free is a myth....taxes, insurance, and someone to edge the headstone.

2 things are certain.

 

[520 Road Sow]

I had second thoughts about it, but it’s a glass half full kinda thing. There has been way to many half empty glasses on the forum this week.

As much as it's a touchy subject I was right there with you on the glass is half full side of it. A guy needs to stay humble and have some humor over the subject. Or he won't make it.

 

[mtmuley]

I had second thoughts about it, but it’s a glass half full kinda thing. There has been way to many half empty glasses on the forum this week.

Like what? Been gone killing antelope. I need to catch up I guess. mtmuley

 

[bowhuntmontana]

Just the mortgage for us. We have a plan to pay it off in 4 years. Can't wait!

 

[Addicting]

Like what? Been gone killing antelope. I need to catch up I guess. mtmuley

You have been putting in a lot of time Antelope hunting lately. There should be some good photos of IPAs and maybe an antelope soon.

 

[WapitiBob]

If you’re a working stiff with dirt under your nails it’s not that easy. Congrats to you that have done it. It took the wife and I a long tome to get it done but it sure is nice knowing everything is paid for and worst case scenario, a part time job at 7-11 will get you by.

 

[tarheel]

Paid off our mortgage in 2006, been debt free since, but then our newest car is 20 years old and will need replacement some day. I told my wife when we bought it that it had a 300K mile engine and her next ride would likely be a hearse and I won't be surprised if that weren't the case. After paying off college expenses for the kids, saving and being as frugal as possible we began to travel all over the country, Hawaii, Australia and a half dozen times to Europe but my wife's medical situation changed for the worse and now we can't travel anywhere without hauling a trunk full of medical supplies and a dialysis machine so do what you can while you can and gird yourself for the later years.

 

[mtmuley]

You have been putting in a lot of time Antelope hunting lately. There should be some good photos of IPAs and maybe an antelope soon.

Home and done. I don't do photos much. mtmuley

 

[LandPro]

Debt free is a myth....taxes, insurance, and someone to edge the headstone.

True day!