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#1
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Do you have debt?
I have debt - I took a personal loan of $5000,00 last year and I lease my car. I try to pay my credit cards every month but sometimes I can't pay the full amount and the debt is accumulating really fast.
Do you have debt? How much you are in debt? |
#2
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I avoid debt at all costs. When you owe money, somebody else owns your future.
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No debt |
#3
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I'm leasing Toyota Camry for 3 years, and I have some revolving credit card debt, but I never carry balance and repay everything back at the end of the month. I'm thinking of buying a house in Toronto in the near future (will need a mortgage for that), but currently I'm priced out of the market and waiting for prices to fall.
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Bear with me please |
#4
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I have around $2,000 debt on one of my credit cards, but I should be able to pay it off in the next 3 months, so it's not a big deal.
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#5
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I could be because you probably have bad credit history because of that...
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#6
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If you know someone who is not in debt please, ask him/her to share their secret. I don't know anyone who is not in debt. With mortgage, leased car and credit card bills what do you think? |
#7
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I don't have a mortgage (I'll get one when prices are more reasonable), and I don't carry credit card balances. I'm financing a car, but that's about it. I actually save money every month.
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Bear with me please |
#8
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Yes, but keep in mind that most people are not like you and live paycheck to paycheck. The ordinary Canadian family has 2 cars (leased/financed), a line of credit or two (carrying balance), several credit cards (some carrying balance), mortgage, etc. That's why most people are very vulnerable when it's hard to obtain credit.
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#9
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Quote:
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#10
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I have no debt, and I can sleep well at night. I have friends that owe $100's of thousands and are in big trouble. Don't assume that everybody is like you, because there are still people who save and will weather the current crisis just fine.
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No debt |
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