Mortgage debt and bills didn’t keep me awake last night.
This is not all inclusive at all. It isn’t. It’s a blog of thoughts on debt based on experience in life. So before I begin typing I’ll put my disclaimer out there. Debt for medical, natural disaster or uncontrolled circumstances I have the utmost and heartfelt consideration. I’ve seen and experienced friends and family with a cancer, car accidents, fire and flood wipe out any kinds of disaster plans. I have. I can’t tell you how tragic it is to watch the pain and suffering physically, mentally and financially.
With that acknowledgement I personally hate debt. Period. I do. The Bible explained “the borrower is slave to the lender” If anyone has ever laid awake at night wondering how will they make their mortgage or car payment you know what I’m talking about.
The first (and last) car loan I took was in 1999. The parts I don’t regret are NOT buying a brand new car as some of the first two years of depreciation were already lost to the first buyer. I don’t regret buying a 4 door Ford. it was reliable for a young family. I DID regret getting a loan for it. So I paid it off in a year.
The next loan I had was a house loan. In this world we live in…buying a home without a loan requires either planning from age 12, wealthy family(golden spoon?) or just straight out luck(lottery)? But how much home do you really “need” or is it a want?
Again realize. Buying a home in Fargo will cost likely $200,000 plus for something entry-level and livable. But choose a smaller town and you can reduce that significantly. But again. You’ll need a good job in LaMoure or you’ll spend the savings driving to a bigger town for work.
We live in small house by today’s standards. Very small. But my dad’s family with 11 in was small. I don’t complain. I had a 30 year mortgage and paid it off in 15.
If you don’t have to go into debt by choice. Don’t.
I’ll tell you since we paid of our home 10 years ago. I’ve had a level of peace and contentment. Which I will able as “priceless”
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