Very important lesson: I have learned it the hard way. And now I see it as a tool, a very valuable tool. I am still early in the process of capitalizing on this new understanding.
It’s bad debt when you spend money you 1. Don’t have, 2. Are not going to get anytime soon, 3. Have no plan to get that money, 4. Forget what you borrowed the money for in the first place. But make no mistake there is a suck thing as good debt. Debt is not a bad thing. You’re right it’s a tool.
"Living debt free" but has a mortgage and uses credit cards. Lol. I'm actually debt free. No credit cards, no car payment, no student loans, paid-off house. You are getting there but you didn't quite reach it yet. Best of luck to you, it's worth it!
I wholeheartedly disagree with the concept of no credit cards. People like Mike Ramsey make them seem like some scary boogie man, but behind all the fear are some genuine advantages. The ability to build loyalty points on purchases one is making anyway is a great way to fund flights or hotels and live life, especially on a modest budget. Or in my case, as someone who drives long distance 5-6 times a year, use a credit card through a carpool app to help pay for gas.
@@LilRaverBoi308 Tells us you didn't watch the video without telling us you didn't watch the video. He literally talks about using credit cards and paying them off each month.
I keep a great credit rating for the day I need a loan. But im so locked into this life I'll live out of the car next if hurricane takes my house. I go with the most affordable with needs met. I paid $12K for my slum 6 years it's practically paid for it's own. I had a divorce and $25K not the best reset number but it worked. Everything I need is walking distance. Iget my coffee each day this is my luxury bc I circle K coffee.Quit drinking alcohol that saved me $300 a month.
Obviously for 90% companies on the Wall Street "Debt" is no problem, as their main business is cooking books and borrow funds for good life and fat checks.. Tell your wife, we have nothing but "Debt", so you cannot be "Debt Free" by piling up Gov. Obligations.. Get more info on the subject. Good luck. P.S. there is no money in circulation since 1933 for that matter.
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My car 2012 Prius V 220k miles 2017 engine
Very important lesson:
I have learned it the hard way.
And now I see it as a tool, a very valuable tool.
I am still early in the process of capitalizing on this new understanding.
It’s bad debt when you spend money you 1. Don’t have, 2. Are not going to get anytime soon, 3. Have no plan to get that money, 4. Forget what you borrowed the money for in the first place.
But make no mistake there is a suck thing as good debt. Debt is not a bad thing. You’re right it’s a tool.
Love RV Life plan. I enjoyed Van Life for a while.
"Living debt free" but has a mortgage and uses credit cards. Lol.
I'm actually debt free. No credit cards, no car payment, no student loans, paid-off house. You are getting there but you didn't quite reach it yet. Best of luck to you, it's worth it!
@@LilRaverBoi308 I’m headed that way. 👍🏻
I wholeheartedly disagree with the concept of no credit cards. People like Mike Ramsey make them seem like some scary boogie man, but behind all the fear are some genuine advantages. The ability to build loyalty points on purchases one is making anyway is a great way to fund flights or hotels and live life, especially on a modest budget. Or in my case, as someone who drives long distance 5-6 times a year, use a credit card through a carpool app to help pay for gas.
@@KandB_Outdoorsthat's fine but this video is about living WITHOUT debt.
@@LilRaverBoi308 Tells us you didn't watch the video without telling us you didn't watch the video. He literally talks about using credit cards and paying them off each month.
@@KandB_Outdoors Read the title. I watched the video and my acknowledgement about the content was in the initial post. Your reply is not required.
I keep a great credit rating for the day I need a loan. But im so locked into this life I'll live out of the car next if hurricane takes my house. I go with the most affordable with needs met. I paid $12K for my slum 6 years it's practically paid for it's own. I had a divorce and $25K not the best reset number but it worked. Everything I need is walking distance. Iget my coffee each day this is my luxury bc I circle K coffee.Quit drinking alcohol that saved me $300 a month.
What about investing?
How to spell satisfaction ,SSS.
so you still have debt? (morgage)
@@geertterharmsel I don’t consider that debt.
@@valiik It is debt. Your house is owned by the bank/loan company until you pay it off.
It's not the debt that kills you but the interest.
Obviously for 90% companies on the Wall Street "Debt" is no problem, as their main business is cooking books and borrow funds for good life and fat checks.. Tell your wife, we have nothing but "Debt", so you cannot be "Debt Free" by piling up Gov. Obligations.. Get more info on the subject. Good luck. P.S. there is no money in circulation since 1933 for that matter.