We are free, finally free.....

[Wirehair]

Congrats KD!! Cheers to you and Mrs KD!!

 

[Retired Educator]

Never minded being in debt as long as I was making progress and slowly getting ahead. Nice to be debt-free but if something came up that I needed to have a loan it wouldn't bother me as long as I could afford the payment without giving up the life-style to which I've become accustomed.

There was a time only a year or two ago where it actually made sense to me to have a loan on a new vehicle. A person was required to take a loan to receive the discount for the vehicle. At one time the discounts on a new pickup were as high as $10,000. Loan rates were less than 3% and it didn't make sense to take money out of an investment that was paying 7 or 8%.

Should some land come up for sale that I think the income would make the payments, I'd borrow to buy that land. Debt free is nice but it's never bothered me to borrow either as long as it didn't put me in a position where the payments were a burden. At the same time I don't extend the payments for longer than good reason. Example would be, I've seen where you can buy a boat and finance for 15-20 years. That would be a serious burden for me.

Congrats on debt-free, it's a nice feeling but I'm not ready to say I'll never have debt again.

I'm also not one of those who feels property tax is rent on the property you own. Long time educator as well as a city official for several years, both or which rely on taxes to operate. My feelings are that taxes are payment a person makes for some services they receive. Road maintenance, police, water and sewer in the city, etc. Education is also in that group. And at some time, every one uses those services.

 

[jr2280]

Good for you KDM. Paid mine off 6 weeks ago. It’s a good feeling.

 

[CatDaddy]

Congrats KDM and family! FREEEEEDOOOOMMMMMM!!!

https://youtu.be/hIvRkjOd1f8?t=79

 

[Jigaman]

I'm getting close. Don't owe a dime on anything except the house and that will be done in two years!

 

[LBrandt]

Only thing we owe on is the wife's car, but at .9% interest money needs to work somewhere else. LB

 

[SDMF]

KDM and Mrs. KDM, CONGRATULAITONS!!!

I'm also not one of those who feels property tax is rent on the property you own. Long time educator as well as a city official for several years, both or which rely on taxes to operate. My feelings are that taxes are payment a person makes for some services they receive. Road maintenance, police, water and sewer in the city, etc. Education is also in that group. And at some time, every one uses those services.

That your property may be taken by the county or state for not paying property taxes absolutely means you're "renting" it. If you don't believe that, stop paying your property taxes. The county won't stop fixing/plowing your road nor shut down the school. They'll seize your property and auction it off. Then, when the auction is compete and someone has paid, the county will take what's owed out of the purchase price. You stop paying "rent" on an apartment, they kick your sorry butt to the curb. You stop paying property taxes, it's the same.

First and foremost, I don't believe for 1 second that if property taxes had been eliminated that I'd be paying any less tax than I do today. I wanted property taxes to go away, in fact I'd still like them to go away but my reasoning is different than most so please don't tune out just yet.

I wanted/want property taxes to end for 2 reasons:

1. One could truly "Own" their property without threat of confiscation.

2. The people holding public office today would be the people responsible for making the rules regarding funding public services. No more would they be able to say, "Well, this is how it's always been done, I can't change the whole tax structure." There'd be a WHOLE LOT more accountability if the people who are alive and serving in office right now, today, were fully responsible for writing all the laws concerning public funding.

That whole business of "local control" and "We'll be beholden to politicians in Bismarck" was a giant political load of:

"We're all to CHICKENSHIT to have to write the new funding regulations and sign our name to them".

 

[guywhofishes]

So - where are all you Dave Ramsey type geniuses putting your money when there's no mortgage payment to make?

 

[KDM]

So - where are all you Dave Ramsey type geniuses putting your money when there's no mortgage payment to make?

Sock drawer and the freezer.....DUH!!!

 

[guywhofishes]

Sock drawer and the freezer.....DUH!!!

Excellent. Does the low temp storage prevent inflation burn?

 

[BP338]

Congrats!

Wife and I are working on this currently! We are still young enough to sell and buy stuff (unless the world ends tomorrow...). So we are selling our house and downsizing. By next fall we will have two incomes and will hopefully be debt free in a few years.

Interesting take from Dave Ramsey on taxes. I agree wholeheartedly!

 

[KDM]

Excellent. Does the low temp storage prevent inflation burn?

Only if you put Yuan or Rubbles in there. Otherwise..you're SOL Bub.

 

[guywhofishes]

I have often wondered who the real suckers are.

People like us who can't stand owing money, or people who owe a crap ton, live like there's no tomorrow, and die leaving everyone else paying the tab.

 

[KDM]

I have often wondered who the real suckers are.

People like us who can't stand owing money, or people who owe a crap ton, live like there's no tomorrow, and die leaving everyone else paying the tab.

I'm like you, I hate owing someone. As far as whose more at risk....I'm going to go with Romans 13 vs 8: "Owe no man anything, but to love one another: for he that loveth another hath fulfilled the law." Debt makes one a Slave to the debt holder, which can lead to all kinds of additional pitfalls spoken of in other places in scriptures.

 

[NDSportsman]

I'm also not one of those who feels property tax is rent on the property you own. Long time educator as well as a city official for several years, both or which rely on taxes to operate. My feelings are that taxes are payment a person makes for some services they receive. Road maintenance, police, water and sewer in the city, etc. Education is also in that group. And at some time, every one uses those services.

We also pay taxes on vehicles and fuel which is supposed to go towards the roads. We also pay for water and sewer separately so those are not from property taxes. How long are we supposed to pay for education if you do not have kids? Why should someone have to pay for these services they are not using? My property tax bill is roughly 70% going to the school I have no kids attending! Why should old people fear losing their homes that are paid for to send someone elses kids to school?

 

[3Roosters]

So - where are all you Dave Ramsey type geniuses putting your money when there's no mortgage payment to make?

Series I bonds or an online savings account( ex. marcus goldman sachs). Marcus currently is .50% but beats the heck out of . 01 at a brick and mortar bank savings account.

 

[ranger150]

^^^ Well said NDSportsman. I don't have children. How long should I pay for the schools? Don't give Me the song and dance...who paid for my education? My parents did, thier responsiblity for having children!

 

[JayKay]

We are debt-free, other than our mortgage. No credit cards, no vehicle payments. Still have a ways to go on the house, but we'll get there one day.

Talking with a friend the other day, with a much-nicer-than-mine pickup. Mine is a 8 yr old Chevy half-ton. Perfectly fine pickup. He still have 48 months on his. His wife bought a new SUV just yesterday. I cringe at the thought of over $1000 month vehicle payments.

Picked up an 18 yr old motorcycle this spring - paid cash.

Lovely feeling.

Now if I could just catch a fish...

 

[guywhofishes]

Series I bonds or an online savings account( ex. marcus goldman sachs). Marcus currently is .50% but beats the heck out of . 01 at a brick and mortar bank savings account.

It's really pissing me off that savers get squat for their discipline compared to the past.

- - - Updated - - -

We also pay taxes on vehicles and fuel which is supposed to go towards the roads. We also pay for water and sewer separately so those are not from property taxes. How long are we supposed to pay for education if you do not have kids? Why should someone have to pay for these services they are not using? My property tax bill is roughly 70% going to the school I have no kids attending! Why should old people fear losing their homes that are paid for to send someone elses kids to school?

It'd be more tolerable if schools were focusing on the three Rs and civic common sense rather than the trash they're feeding kids.

Ask me how I know.

Then again - don't. Just pisses me off more. ;:;rofl

 

[ndlongshot]

Should some land come up for sale that I think the income would make the payments, I'd borrow to buy that land.

That used to be the model. Next to impossible to find that anymore as well.