Re: Re: Re: Re: How can i make my parents realize.......


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Posted by js on November 13, 2003 at 10:36:42:

In Reply to: Re: Re: Re: How can i make my parents realize....... posted by Dad again on November 13, 2003 at 09:08:02:

"I think, though, that responsible use of limited debt is a reality of modern life, and teaching our kids the rules of responsible debt"
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Joe,

Debt is a reality, but not a smart reality. Most Americans could pay cash for their first house...All they would have to do is live in an extremely modest apartment and drive an extremely modest car for about 5 years. No meals out, no vacations, no cable (' have never had cable here), plenty of chicken and ground chuck.

After paying cash for their first house, folks could trade up in house with cash. Just because 99% of folks do something, it don't make it smart. Once financially secure with real assets, the vacations, fancy cars, and other perks come. "Live like no one else so later you can live like no one else." (Referring to another discipline, I believe Alan Baer just showed all us us the meaning of that quote.)

Even at 0% interest, a person is obligating themselves to the future, rather than acquiring and making do with what they can afford.


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