[RightWhale]

get out of debt

As loyal citizens consumers, we are required to drag things home from the mall whether we need them or not. The car or cars would be worth more than the house except for the real estate bubble, and the car payments are manageable so long as the paycheck is reliable. Getting out of debt is equivalent to dropping out of society. Major decision, here. If you are approaching retirement, though, it is easier to get out of debt without people thinking you have gone mad.

[DB]

Hey now, I'm 41 and out of debt (for now anyway). I've neither dropped out or near retirement.

[freedumb2003]

>> Getting out of debt is equivalent to dropping out of society.<<

Only debt is mortgage and cars (and I accelerate payments on the cars to pay them early). Keep the cars 10 years (beyond that repair costs exceed value). NO OTHER DEBT. Save up beforehand and pay cash for things. 6 Months pay in a liquid bank account (that one hurts a little because of the low interest rates).

That is how to manage finances in an uncertain economy. It is also how to get a FICO of 820.