do people without any debt have a happier life then people with alot of debt?

Question

i owe my wife 3000 dollars bc she gave me money for bills when i did not have a job and now all we do is fight over it

Answer 1

They do only if they care if they are in debt.
If they dont care if they are in debt that I dont think it affects the happiness

Answer 2

I can't speak to anyone else's happiness but I can tell you what I observed in my life. To be fair, I know sometimes people can't control their circumstances so I will only use what I know: My parents were always in debt when I was a kid. (They made bad decisions, tried to keep up with the Joneses, etc.) We never lived in the same house for long, they always fought and the general atmosphere in our home was tense. That's not to say I had a horrible childhood but you get where I'm going. Today, my parents still live in that cycle, my father is nearly 70 and still has to work. The only reason they are not divorced is because it's easier financially to continue the way they are. 3 of my siblings live the same way and are constantly juggling this bill with that bill and trying to play catch up. As soon as I could, I got a good job (though I made some foolish money mistakes) but I was never in such debt that I was miserable. My husband makes great money, we try to save whenever possible, we have a nice house, go out to eat once a week, and go on vacation a few times a year. We have a little debt (car payment, a little on a credit card) but we don't have to worry about where the money to pay the bills is. We are not rich but we are not in deep debt. To answer your question, I believe I am a hell of a lot happier with little to no debt than my family members who have alot of it. Hope this helps.

Answer 3

It varries from person to person. Most people need to finance big thing like houses and cars. However, credit card debt chokes the life out of people because it is so hard to get rid of. I know a few people who have had to declare bankruptcy over credit card debt and that made them unhappy to say the least. But there are so many other factors in life that can affect happiness , i.e.: relationships, health, ect. so there is really no sure-fired way to answer that question. Try to only get responsible debts that you can pay off and that don't have a horrible interest rate and you then maybe you will be somewhat happy.

Answer 4

Money and material possessions do not buy happiness, so I would have a hard time saying either would make someone happier. I am willing to say that being without any debt is much less stressful and there will be fewer conflicts over money if there is no debt. So I would also say that life would be much more pleasant without all the debt.

Answer 5

Was she your wife when she gave you the money? If so then you don't owe her anything. Marital debts and marital assets regardless of who EARNED the money or who INCURRED the debt are 50/50.

But no debt = little or no stress which makes for a happier demeanor for everyone.

Answer 6

My husband and I live debt free (aside from the mortgage and small student loans from my Ph.D - but both are well within our means), and yes, it is better than having debt.

It took us a few years to pay everything off, but we made it a goal and stuck to it. During that time we barely ever ate out, my wardrobe was laughable, and we still drive cars that are 9+ years old. Material "things" are not important to us, but we both have retirement accounts that under conservative return rates will allow us to retire at age 55 with 10 million dollars (in today's dollars). Not having to worry about paying the VISA bill every month is wonderful! We budget for the household expenses, but after that, every dime we bring home is OURS. I have a rewards credit card, so I still use it for things like gas & groceries, but I pay it off online within three days. We're at the point now that both of us have enough money saved up to not work for 6 months straight. It's called living frugally and not getting caught up with the whole "keeping up with the Jones'" thing...

Actually paying for vacations and gifts is awesome. Living within our means brings a sense of pride.

Answer 7

I think it depends on the situation people are in. I believe in the old saying "money can't buy happiness". There are people who have no debt and are miserable with their lives and then there are people who have a lot of debt but are happy because they have love in their life or happy with their job. There is more to happiness than financial status.

Answer 8

Well I imagine they don't fight about debt! I'd have to say it would make me alot more happier. We didn't have a problem until my now X husband became an uncontrolable spender. Ran us into debt and I'm still paying for it because the cards were in my name and I gave him one...Stupid me....that'll never happen again.

Answer 9

Happiness is what you make it! weather you have a lot of debt or no debt really has little to do with happiness and more to do with stress. Some people just cannot distinguish between the two.

Answer 10

I do think that people without debt at least have less stress, which probably increases life satisfaction.

This business with owing your wife money has me confused, though. If you're married, why aren't you co-mingling your finances (assets and debts)?

Answer 11

of course because then you don't have that hanging over you head all the time. why don't you and your wife have combined money? Are you staying married for life. We don't have his and her money. It sounds like you guys need to sit down and figure out finances. We put all income into one bank account, save first, then pay bills (try to pay off credit cards every month to avoid finance charges), buy with what is left. Of course, no one goes out and spends thousands of dollars w/o discussing it first