What is your "Debt Free Date"

[Sutol]

Been debt free since 1982 when I sold my mortgaged house and bought a better one cheaper for cash.

Still in it now but have no money to speak of due to barristers and solicitors over the years but we wont go into that.

Nice to know that nobody can take your home away from you though whatever happens

 

[ToadHill]

I bought my house in 1970, paid it off in 1986. everything else I've owned I paid cash for.

 

[rasimmo]

Hopefully I will be debt free by age 35, two more years. I have about $60,000 left to be totally debt free. I don't have the nicest of things, but I have way more than I need and most of what I want.

 

[George2615]

No mortgage here, just a few cards and a loan to pay off (small balances) which I have scheduled to complete by the end of 2012.
The way the economy is going and cost of everything rising much faster than income I doubt any of us will ever be truly debt free.
50 years ago you had a single wage earner family, today I see 2 wage earner families living way beyond their means. 50 years from now what will we need, a 3rd wage earner?
I guess I personally will truly be debt free the day I die though I hope to do so way before then.

 

[forgeblast]

We have a ton of medical bills from trying to have our little one. Racked up around 80-100k worth of medical bills. IVF is not cheap or covered by medical insurance in our state. So with that on top of the house we are slowly digging ourselves out.
I wish we were less debt free, but we made the right choice. I am looking at other ways to pay off the debt. Mostly by using the land/resources we have. Debt is a crusher, I work hard and make sure I do extra so that my position is not cut. I also normally work 2-3 jobs. Drained a lot but you do what you have to do. There is no such thing as a free lunch.

 

[Will_C]

Paid off the house a year ago, and enjoy not having a mortgage. I plan to build a home, but I am enjoying the debt fre. I probabaly won't wait until I can pay cash for the build, but I have mentally reduced the amount I plan to borrow-I intended to borrow no more than 75% of what I qualify for, I have reduced that to no more than 50%. I figure each year I save money by not having a mortgage can reduce the need to borrow by $50,000 when you factor in interest.

Will

Will

 

[rasimmo]

We have a ton of medical bills from trying to have our little one. Racked up around 80-100k worth of medical bills. IVF is not cheap or covered by medical insurance in our state. So with that on top of the house we are slowly digging ourselves out.
I wish we were less debt free, but we made the right choice. I am looking at other ways to pay off the debt. Mostly by using the land/resources we have. Debt is a crusher, I work hard and make sure I do extra so that my position is not cut. I also normally work 2-3 jobs. Drained a lot but you do what you have to do. There is no such thing as a free lunch.

I hope the IVF worked out for yall. We are getting ready to start that next month. We did a few rounds of IUI with no luck. We had the blessing of a family member offer to pay for the IVF, no strings attatched. That is a burden lifted for sure.

 

[txdon]

Why is it the banks pay you 1%, but the credit card they offer you carries a 24.9% or higher interest rate?

Because living beyond one's means and instant gratification are priceless.

 

[Combustix]

Lived the normal American life until first divorce got to keep all the debt. Worked for next year and a half to pay everything off. That was the best day. Other than my current mortgage which is small enough that I could work part time at mickey d's I would be good. I have paid cash for everything. Use the MI as a right off. Current wife and I lived 3 years in our pickup camper living on her pay and banking mine. Life will be good when I retire

 

[Professor Marvel]

I have always made less than my associates but my philosophy has been "save up for it then buy it".
The end result -- you do not need everything that is advertised, you do not have a desire to keep up with the Jones's, etc.
I now own what I have bought, including real estate, and the economy is an inconvenience but not ruining my life as I know it. I have NO sympathy for those that live beyond their means.
Typically I occasionally buy a new car and put down 1/2 and finance the rest so that I can build my credit rating in case I should need credit in the future.
I realise that a crisis could always hit so I try not to be cocky but lets be real, most people's financial problems come from lack of common sense.
It really is simple if you are not bent on impressing others.