No credit card or bank overdraught ? no gambling debts ?
2006-11-26 03:58:14 · 13 answers · asked by landgirl60 4 in Business & Finance ➔ Personal Finance
No I pay my credit card off every month - have money in the bank and save - also "sickeningly" have a good time too! Doesn't mean I don't yearn for a luxury yacht etc
However do have a mortgage - does this count as owe a considerable amount of money!???? After 5 years maybe own the downstairs lav!
2006-11-26 04:10:02 · answer #1 · answered by |Chris 4 · 0⤊ 0⤋
That depends on your definition of Debt.
I hate these people that do Cash only etc. Think of the money they are loosing. I have almost completely eliminated Cash from my life, and feel so happy without having any joins to jingle or notes to handle.
I spend an average of 750 of bills on my credit cards which I pay at the start of each month, but on the other hand, I put a lot of my money in a savings account called "Monthly bills". So yes, I am £750 in debt.
26th of the month rolls in, and my credit card statement comes out. Conveniently, the balance due is less than the content of the special savings account, but don't have to pay til next month.
Credit Card bill due 23rd of the next month, so 5 days before hand, the money leaves my Saver account to pay off the full bill. Bill paid, no credit card interest charged, but interest gained; In the 45 odd days between putting the money aside from my bills and the payment date, I have earned 45 days interest for me.
So I am earning money by controlling debts accurately. I spent a week in a 5 star hotel in Paris last month because I spend so much time SCREWING the credit card companies and Banks.
2006-11-26 06:42:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Hey you might have debt for awhile but if you are smart and you make good money decisions then you will get out of debt and stay out of debt, unless the return is better than the cost of the debt.
2006-11-26 04:11:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, I have no debt as I was brought up to believe in saving up until you could afford to buy something, except for a house mortgage of course. I paid cash for my last new car - it was great as the prices kept coming down as I was saving up, so got it much sooner than I thought I would!
2006-11-26 04:10:54 · answer #4 · answered by blondie 6 · 0⤊ 0⤋
Yes.
Credit cards paid off monthly.
Only debt is mortgage.
2006-11-26 04:02:24 · answer #5 · answered by ckm1956 7 · 0⤊ 0⤋
Oh yeah - but nothing I can't handle. Pay off in full each month & you'll be ok. Lottery is my gambling vice.
2006-11-26 04:02:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋
unless you still live at home or win the lottery you'll always have a debt, it's called a mortgage!! and it's the biggest debt you'll ever have.
2006-11-26 04:12:04 · answer #7 · answered by lola 5 · 0⤊ 0⤋
i have no dept , i learnt my lesson 20 year's ago when we nearly lost our house etc, no credit card's , no overdraft , no gambling , pay all with cash
2006-11-26 04:01:45 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes I was Learned my lesson paid cash now
2006-11-26 04:34:36 · answer #9 · answered by pattibcacl 6 · 0⤊ 0⤋
If it weren't for my student loan, then I would be debt free.
2006-11-26 04:07:13 · answer #10 · answered by Kirsty 7 · 0⤊ 0⤋