How do you feel about debt?

Nick1994 said:
Might be a silly question, as none of us really "want" debt, but I think many of us have a different feeling about it.

Some people are personally comfortable with carrying balances on credit cards, financing a washing machine, having 2-3 car loans, mortgage, RV loan, etc. and they are doing ok. Maybe if you get a low enough interest rate, why not kind of thing?

Others will only pay cash for anything and balance their checkbook to a T.

I was lucky enough to graduate college without debt, and owe nothing except my current credit card statements. I charge everything on a credit card for the points, and pay them off every month. I've never paid credit card interest before. So I guess I'm not real comfortable with debt. I had most of the Tesla financed, it was by far my biggest ever purchase. But with the massive fuel savings, I didn't see it as being all that bad, the car just didn't work out. I guess I'm proud of being debt free, but I don't have my own house yet. Waiting for the market to hopefully crash before I make that leap. Not holding my breath for that either.
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I'm in the semi-okay with it category, depending on what the debt is. Things like car/truck, boat/camper/RV, I'm okay with that debt. Buying things, unless absolutely necessary, like a washer/dryer, new tool cabinet, etc. those are the "not okay" debt category.
Would I prefer not having a vehicle/car/truck loan? Sure, but I also net $7k+ a month between my job and the VA, so it's not like its hurting me to have a $350/mo payment on my truck but I will use some of my VA backpay money I'm getting soon to pay it off at ~$5k due to a 3.35% APR on the loan. Wife and I are also looking at campers so that will necessitate buying a 3/4-1 ton truck to pull.
 
Debt scared the xxxx outta me. That's why I went back to college so many times and did my best to overcome my shortcomings and mistakes.
I'm still scared; in fact even more so as I see others getting on in years and struggling.

Just my opinion, but if you buy anything fancy, especially cars, before you are not financially sound, you are asking for misery.
I have been on both sides of $$ and I can tell you it is a lot better to be able to give a little than to need a little.
 
supton said:
While I would to own my home outright, it seems impossible.

Without property taxes, how will the non-state roads be plowed, paved, etc? schools paid for, ems supported, etc. Maybe have every road a toll road?
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Yeah, it doesn't make any sense, you go into knowing you have to pay property taxes. Don't forget to mention police and fire, little used services for the average citizen but when you need them, they need to be there.
 
Miller88 said:
Depends on industry.
For IT - college degrees aren't worth the paper they're printed on.
I'm just as far along in my career as I would have been if I didn't go to college. In fact, I'd probably be further along since that's 4 years of experience I missed.
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To be a worker-bee, yes you don't necessarily need a degree. Especially once you're already established with a company. But if you want a more senior leadership position, it can be a requirement. And if it doesn't work out with your current company, it might be harder to get into another one vs. another applicant with your same experience, but they also have a degree.

My aunt is a VP of IT (same company as me), she got in without a college degree, but there's somewhat of expectation that she'll complete her degree.

My company is now paying college tuition 100%, I'm considering getting a Master's.
 
Nick1994 said:
To be a worker-bee, yes you don't necessarily need a degree. Especially once you're already established with a company. But if you want a more senior leadership position, it can be a requirement. And if it doesn't work out with your current company, it might be harder to get into another one vs. another applicant with your same experience, but they also have a degree.

My aunt is a VP of IT (same company as me), she got in without a college degree, but there's somewhat of expectation that she'll complete her degree.

My company is now paying college tuition 100%, I'm considering getting a Master's.
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All 5 of my superiors here (not necessarily supervisors, just those above me) do not have college degrees in IT. They did it right and didn't waste 4 years and countless money on a worthless piece of paper.

Certifications are far more important. Had I known that ten years ago...
 
PandaBear said:
Do you prefer to rebrand them "service fee for your locality"? or "Toll"?
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No because you never really can own property is the government can take the property away from you for not paying taxes. Why should the toll be different depending on the house I buy? I am tired of paying for those who aren't responsible.
 
JeffKeryk said:
Beautiful... Your company pays for it? Go for it!
I got my 1st degree at 40; it is one of my most prized possessions. I wouldn't trade it for anything!
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One of my property managers got his masters at 45 and It is cool having a masters degreed property manager.
 
wpod said:
No because you never really can own property is the government can take the property away from you for not paying taxes. Why should the toll be different depending on the house I buy? I am tired of paying for those who aren't responsible.
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It's the compact that already baked into society. It just means you're too cheap and don't to pay what everyone else pays. Basically government all over the world can take things away from you if you don't pay taxes and even throw you in jail. It's not like there's some other society that you can go to where you don't have to pay.
 
Wolf359 said:
It's the compact that already baked into society. It just means you're too cheap and don't to pay what everyone else pays. Basically government all over the world can take things away from you if you don't pay taxes and even throw you in jail. It's not like there's some other society that you can go to where you don't have to pay.
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That must make it O.K then.
 
Nick1994 said:
Might be a silly question, as none of us really "want" debt, but I think many of us have a different feeling about it.

Some people are personally comfortable with carrying balances on credit cards, financing a washing machine, having 2-3 car loans, mortgage, RV loan, etc. and they are doing ok. Maybe if you get a low enough interest rate, why not kind of thing?

Others will only pay cash for anything and balance their checkbook to a T.

I was lucky enough to graduate college without debt, and owe nothing except my current credit card statements. I charge everything on a credit card for the points, and pay them off every month. I've never paid credit card interest before. So I guess I'm not real comfortable with debt. I had most of the Tesla financed, it was by far my biggest ever purchase. But with the massive fuel savings, I didn't see it as being all that bad, the car just didn't work out. I guess I'm proud of being debt free, but I don't have my own house yet. Waiting for the market to hopefully crash before I make that leap. Not holding my breath for that either.
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Ive always been comfortable with carrying a certain amount of debt but Ive been working on getting rid of it.
 
Miller88 said:
Depends on industry.
For IT - college degrees aren't worth the paper they're printed on.
I'm just as far along in my career as I would have been if I didn't go to college. In fact, I'd probably be further along since that's 4 years of experience I missed.
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Some employers want a 4 year degree for an IT job, I’m not taking entry level IT position.

I work in healthcare and all IT Directors have a degree.
 
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wpod said:
No because you never really can own property is the government can take the property away from you for not paying taxes. Why should the toll be different depending on the house I buy? I am tired of paying for those who aren't responsible.
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By your argument, you don't own your car or anything in this world because they all need "something" to be useful. Your car needs insurance and registration or else you can't drive it on the road. Your home needs electricity, water, sewage (unless you are somehow on a private island, there'll be permit fees and regulations on how you cannot build).

Still, do you prefer to own a place on Himalaya somewhere that no gov will bother you but you will not reach anyone else on earth and nobody can help you? or do you prefer to be near civilization and pay property tax so eventually your home will be desirable and someone else will buy it off you eventually (and increase in value)?

wpod said:
That must make it O.K then.
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It is ok if you live on your own, but if you want to live in a community where most others "voted" to have schools, libraries, police, garbage, fire station, roads, sewage, electricity, gas line, etc, there will be some sort of rules and some sort of services that must be for all (due to economy of scale). You have signed up for this when you bought your place or your ancestors voted for those rules and laws before you inherited them.

Those rules and regulations and taxes and tolls lead to your existing property values.

Wolf359 said:
It has nothing to with whether it's ok or not. It's just the way it is. Is it ok if it rains?
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It is human nature that we all want the rain to drop at night but never during day time, and floods other people's neighborhood but flow to ours in a pipe from the treatment plant.
 
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Property taxes are criminal no matter what you argue about. just plain criminal. I put lots of effort into Prop 13 back in the day.
 
PandaBear said:
By your argument,
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Putting words in my mouth . What I said isn't an argument it is fact. Sales taxes is a much more fair way of paying taxes as sales taxes spread the tax burden over more people and to those that cost the most in services will be paying their fair share.
 
wpod said:
Putting words in my mouth . What I said isn't an argument it is fact. Sales taxes is a much more fair way of paying taxes as sales taxes spread the tax burden over more people and to those that cost the most in services will be paying their fair share.
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There is nothing fair about 1 tax vs another, whether it is an income, an expense, or an ownership based tax. Consider yourself lucky you are in a country that you can move to the tax location that you are comfortable with, not many others in the world can do that.

The only thing for sure is regardless of tax, there'll always be people wanting to avoid them and strategies to do so legally or illegally.
 
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