I've been living a cash life outside of a mortgage and some student loans for my kids. Haven't figured out how to get rid of the mortgage and the loans are not going away very quickly.
But the cars are paid-for in cash and it makes for a simple bill-paying schedule..
I recommend it, but its hard to move from a debt-based life to cash. Most never make enough to climb over the hump.. and least or debt-bought cars tend to die or break just when the payments end.
The solution is to buy a used car and save the payment you WOULD have paid for a new one and use that collection to upgrade to a "newer" one. Save the rest.
The freedom that comes with less debt can never be described sufficiently.
Well as far as buying large items houses and and loans for school it does make it really hard to live debt free. I would love to hear your story. Is it possible to loan against your house and pay off all other loans and debts this way you only have one payment. Housing is the number one issue living debt free because not many of us make that kind of money to buy houses, new cars, boats, motorcycles, or education. For me and my wife our kids are out of school , we only went NO debt 3 years ago by selling off our business and paying off all our debts.
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