Wednesday, June 25, 2014

My Mantra on DEBTS


" If going into debt is the new normal, then I'd rather be weird." 

This includes:

• Car
• Mortgage

If I can't pay it in cash,that means I can't afford it.

Are you weird, my friends?
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4 comments:

  1. DidiJune 25, 2014 at 1:26 PM

    I think for mortgage is ok to get into debt....as long as you can afford it. Best to get pre-selling or foreclosed (if you can) for lower costs.

    For cars, it is a super no-no for me. Unlike real estate, which can increase in value and you can earn passive income from i, cars do not.

    We're currently in a bit of debt, but the property pays for itself since we rent it out.

    But that's just me :)

    ReplyDelete
    Replies
    1. Maria AbellanosaJune 25, 2014 at 2:36 PM

      As a listener of Dave Ramsey's show, "paid off mortgage" should be top priority after attacking consumer debts.It feels good to be "totally debt free". It's hard but doable and I am inspired not to take on loan "even if I can afford it". No No
      No.

      His exact words:

      "Debt is dumb; cash is king
      ...and the paid off home mortgage has taken the place of the BMW as the status symbol of choice."


      Delete
    2. DidiJune 27, 2014 at 8:39 AM

      we will get there soon :) We don't have any consumer debts so that's one big check out of the top of the list.

      Maybe if I read more on this, it would have turned out differently.

      Delete
    3. Maria AbellanosaJune 27, 2014 at 9:05 AM

      You should listen to his podcast coz ma inspire ka talaga. He has segment wherein couple do " debt-free scream" and interview them how they do it and all. And whenever I hear them say " WE ARE DEBT FREE!!" I get goosebumps even though I've been listening to his show since forever. It's really inspiring andi highly recommend his podcast.

      Delete

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