Quote:
Originally Posted by Kenswing
For us it came down to how much I valued a peaceful household.  I'm debt-averse. My wife is downright debt-phobic. When we built our house here we took out a mortgage simply as a hedge in case our home in WA didn't close as planned. We had a 3.1% rate. Within two months my wife was asking when we were going to pay it off. At four months I couldn't take it anymore.  So yes. I understand I lost the opportunity on a lot of money but I get to live a blissful existence because of it.
But she was okay with us taking out a car loan. Because we have no payments our credit score has suffered. One thing she prides herself on was her credit score. I'm sure as soon as her score is back where she wants it I'll be hearing the same toon to pay off the car too. |
You may be surprised to know that credit card companies call people who pay their charges off in full at the end of the month “deadbeats” and “zeros” as they make no interest off their purchases. One of my favorite quotes from Mark Twain is: “I am more concerned about the return of my money than on my money”. This is especially true now that we are retired. The emotional security that many people feel from being completely debt free is real. Granted, the math can work to your advantage if you have loans at very low rates. Personally, my wife and I are deadbeats and zeros and consider it a compliment. We have a real feeling of contentment when we put our heads on our pillows knowing we don’t owe anybody a penny on planet earth.