Feeling Thankful/Fortunate/Lucky/#Blessed

"davesaddiction @ opposite-lock.com" (davesaddiction) 05/23/2018 at 11:47 • Filed to: None

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Mrs. addiction and I will be debt free this week!

E90M3 > davesaddiction @ opposite-lock.com 05/23/2018 at 11:54

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Cool, you wanna co-sign on a loan with me then?

nermal > E90M3 05/23/2018 at 11:56

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As long as you extend it to 96 months to keep the payment low!

Future next gen S2000 owner > davesaddiction @ opposite-lock.com 05/23/2018 at 11:57

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Does that include a mortgage as well?

LOREM IPSUM > davesaddiction @ opposite-lock.com 05/23/2018 at 11:58

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Being debt free is a great way to be. Try to keep it that way!

If I can’t afford to pay for it in cash, I can’t afford it. Then I ask myself, which would I really prefer, the item or the money in my bank account.

I do a lot of window shopping.

fintail > davesaddiction @ opposite-lock.com 05/23/2018 at 11:58

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Who do you think you are, Hamilton?

CaptDale - is secretly British > davesaddiction @ opposite-lock.com 05/23/2018 at 12:05

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That will be a nice day for me.

Congrats

Ash78, voting early and often > Future next gen S2000 owner 05/23/2018 at 12:05

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My question, too — most mortgages are good ideas (and even some car loans) because you’re tranfering a lot of risk to the bank, usually at a pretty low rate.

I never get suckered into the “but over 30 years, that $300k house costs you $600k” talk. On a cash flow basis, it’s still better than renting in most cases, plus you have an inflation-hedged fixed payment for the life of the loan.

E90M3 > nermal 05/23/2018 at 12:05

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I was thinking at LEAST 96 months.

davesaddiction @ opposite-lock.com > E90M3 05/23/2018 at 12:08

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Haha - no thanks.

davesaddiction @ opposite-lock.com > Future next gen S2000 owner 05/23/2018 at 12:08

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Yessir!

davesaddiction @ opposite-lock.com > Ash78, voting early and often 05/23/2018 at 12:11

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We know it may not be the smartest financial decision, but we have good long-term savings in place and the peace of mind will be well worth it (my wife and I both work in a volatile industry and have survived layoffs and office closures in the past).

jimz > davesaddiction @ opposite-lock.com 05/23/2018 at 12:12

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that’s almost as great as when I read Mr. Debt and his wife were addiction-free!

davesaddiction @ opposite-lock.com > LOREM IPSUM 05/23/2018 at 12:14

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That’s the plan! We’ve still got three kids to put through college, so we’ll see. =)

davesaddiction @ opposite-lock.com > CaptDale - is secretly British 05/23/2018 at 12:15

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Thank you. It’s a great feeling and more than a little hard to believe.

davesaddiction @ opposite-lock.com > fintail 05/23/2018 at 12:15

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Thought you’d enjoy that. =)

davesaddiction @ opposite-lock.com > jimz 05/23/2018 at 12:16

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Okay, that’s funny!

Arrivederci > davesaddiction @ opposite-lock.com 05/23/2018 at 12:20

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Congrats! I’m one year into a 30 year mortgage....the light at the end of the tunnel is very faint.

MiniGTI - now with XJ6 > davesaddiction @ opposite-lock.com 05/23/2018 at 12:21

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Great way to be, I’m getting close (except for the mortgage) myself. Only owe about $1200 on my GTI and then I’ll have two <70k cars and only the house payment. Which isn’t too bad.

Ash78, voting early and often > davesaddiction @ opposite-lock.com 05/23/2018 at 12:24

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That’s extremely impressive! Congrats.

My angle was more about people not feeling bad about a mortgage or car loan...but if you managed to kill them all, that’s the greatest position of all!

WilliamsSW > davesaddiction @ opposite-lock.com 05/23/2018 at 12:24

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Congratulations!

While there is certainly an argument that it makes financial sense to keep a low-rate, deductible loan (which I personally prefer), the bottom line is that you and your wife have to do what YOU are comfortable with - and living debt-free isn’t a ‘bad’ choice at all- especially with volatile incomes- enjoy it!

davesaddiction @ opposite-lock.com > Ash78, voting early and often 05/23/2018 at 12:26

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Thanks - despite the bumps along the way, we’ve been incredibly fortunate in our careers.

CarsofFortLangley - Oppo Forever > davesaddiction @ opposite-lock.com 05/23/2018 at 12:30

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Like... including mortgage? Shit! I’ll never be that. Super jealous 

davesaddiction @ opposite-lock.com > WilliamsSW 05/23/2018 at 12:31

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Thanks!

CarsofFortLangley - Oppo Forever > LOREM IPSUM 05/23/2018 at 12:31

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Window shopping has its own rewards. I also like buying vicariously through others. I convinced my sister in-law to buy a Crosstrek after months of advocacy.

davesaddiction @ opposite-lock.com > Arrivederci 05/23/2018 at 12:32

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You’ll get there!

CarsofFortLangley - Oppo Forever > davesaddiction @ opposite-lock.com 05/23/2018 at 12:32

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Can I ask where you live (city/state?) I can’t see how I can ever be mortgage free here.

davesaddiction @ opposite-lock.com > CarsofFortLangley - Oppo Forever 05/23/2018 at 12:32

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Yup. Oklahoma is cheeeap. =)

CarsofFortLangley - Oppo Forever > davesaddiction @ opposite-lock.com 05/23/2018 at 12:36

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Nice. I doubt I will ever be able to own an actual house.

https://oppositelock.kinja.com/rolls-royce-cullinan-north-american-launch-1826148720

OPPOsaurus WRX > Arrivederci 05/23/2018 at 12:50

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i’m coming up on 1/30 complete in early june.

davesaddiction @ opposite-lock.com > CarsofFortLangley - Oppo Forever 05/23/2018 at 13:38

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We live in a rural area on the outskirts of Tulsa, OK.

davesaddiction @ opposite-lock.com > CarsofFortLangley - Oppo Forever 05/23/2018 at 13:39

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It’s hard for us to compete with the scenery you all have up there, though!

blacktruck18 > davesaddiction @ opposite-lock.com 05/23/2018 at 13:43

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Congratulations!!!

Now the banks won’t give you credit if you ever need it because “you’re lacking any recent credit history.”

No really this happened to me, I paid off my truck and a little credit card debt right before I joined the Army, 3 years later newly married Mrs. Blackcar and I decide to buy a vehicle, which we could have paid cash for but would have destroyed our savings, and we couldn’t get a loan because we had no credit things happening for 3 years. We had to get my Grandpa to co-sign for us.

Now we keep one car financed at as low a rate as possible and use cash for everything else.

E92M3 > davesaddiction @ opposite-lock.com 05/23/2018 at 13:50

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Congrats! That has to feel good. I expect to hear you two on Davey Ramsey’s podcast doing your debt free scream!

davesaddiction @ opposite-lock.com > blacktruck18 05/23/2018 at 14:01

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Thanks!

That’s so crazy... I’ve actually got my credit frozen right now (after the Equifax thing). I’m not planning to use credit for anything in the near future, but it definitely is good to have access to when you want/need it!

davesaddiction @ opposite-lock.com > E92M3 05/23/2018 at 14:03

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Thanks! Feels great. We’re not the type to go scream about stuff like this in public, so I’m “screaming” here on OPPO. =)

davesaddiction @ opposite-lock.com > MiniGTI - now with XJ6 05/23/2018 at 14:03

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Nice! Well done.

nerd_racing > davesaddiction @ opposite-lock.com 05/23/2018 at 14:50

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This is awesome! congrats! I’m aggressively paying off my house and car. I’m shooting for 401k balance higher than my debts in the next 2 years and no outstanding loans in the next 5 years. Certain rural parts of NY are cheap too.

davesaddiction @ opposite-lock.com > nerd_racing 05/23/2018 at 15:03

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Thanks! Sound like you’re well on your way, too.

R Saldana [|Oo|======|oO|] - BTC/ETH/LTC Prophet > davesaddiction @ opposite-lock.com 05/23/2018 at 15:48

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Awesome. Wish I was there, but excuses excuses

davesaddiction @ opposite-lock.com > R Saldana [|Oo|======|oO|] - BTC/ETH/LTC Prophet 05/23/2018 at 16:11

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Thanks - you’ll get there!