You are viewing a single comment's thread from:
RE: The Ultimate Guide to Frugal Living / How I Can Afford to Live in A Condo in Hawaii
Great article and some great advice there.
People really need to avoid debt if they want to get ahead. Paying more for something because you want it now is a mugs game. Saving for something is so much more rewarding and you appreciate that thing so much more because it represents your hard work and sweat. You are also far more likely to reconsider wasteful or ego based purchased when they represent hard work. If it's a debt based purchase it's really easy to go ahead and just buy it anyway because you haven't yet invested the time to be able to purchase it. The mounting debt then causes depression as you have to pay it all back but the positive feelings associated with the purchase are long gone.
Ain't that the truth. Hey there @unclehermit, thank you for stopping into my blog! I feel that the best way to overcome debt is to never have any! But if it cannot be helped, it needs to be cleared first!
Saving puts many things into perspective; do we need what we are buying and how important is it? You have a great view, why would we willingly trade our future happiness for a temporary comfort?
I will travel the world and enjoy life... later. If a person can procrastinate on being productive, then we can definitely "procrastinate" on our immediate desires a little!~ :D
The only time debt is useful is to fund business growth and possibly to buy a home when rates are low and it can be paid back quickly via overpayments.
Agreed @unclehermit,
The only time that you should ever put yourself into debt is when you are using it to make your life better. I believe it goes;
The poor spend their money on things,
The middle-class buy liabilities,
And the wealthy buy assets.
Cheers!
@shello
Very true indeed. I just wish my 'assets' would start performing ;)