Every so often, I see a financial show host (Suze Orman comes to mind) talk about living a totally debt-free life. Sure wish that were possible some days, but the reality is that we have to incur SOME debt to keep a roof over our heads, wheels in the driveway, etc. But I get the gist of what people like her are saying - get rid of all debt that is not absolutely necessary.

By the end of this year, the only debt I'll have is:

- the mortgage on my home (gotta have someplace to live after all)
- the mortgage on a rent house (which generates net income)
- the loan on my truck (expected to last a solid 5-7 years past payoff)
- student loans, with a graduated payment plan (low payments at first that get larger later on)

The credit cards are finally paid down to zero, and are going to STAY that way! The money that was going to interest can now get socked away in savings. The redhead and I have had to agree on basics - we don't go shopping for stuff without having cash in the bank to pay for it right away. Likewise with planning trips to Alaska, tuna trips in the Gulf, etc. This is forming the basis of our New Years Resolutions for 2019 (wow, I'll actually have those on the first of the year!!)

Great job for someone your age. My credit card debt was crazy through my 30's. NEVER carry credit card debt.

Here is where I sit:
- the mortgage on my home is less than $40K
- the mortgage on a rent house is less than $60K
- the loan on my truck is down to $12K
- we lease my wife's car to keep her in a new vehicle without ever having to buy tires or pay for oil changes.
- Credit cards are paid off every month ( and I buy everything I can with them for the airline miles) free flights every year.
- Taxes and property taxes seem to be my biggest concern.

and pay for vacations before you take them, never go on a vacation owing for it when you get home.

I have a little bit of medical debt that is almost gone, my car payment and a healthy credit card balance. That's all my debt. Student loans are paid off.

Hopefully I'll have a mortgage in the next year or 2.

One important thing that is not stressed in financial articles and advice is: If you must take on debt use it on things that will appreciate in value and use cash for everything else. You will be recovering some of the interest by the increased value of the asset.

Never use borrowed money to buy depreciating assets. Finally got to the point in my life where I have the cash to follow my own rule at the age of 36.

I'm in debt up to my eyeballs

Two valid points

Only have one item of debt. Bought a new house/property 4 years ago, but sitting on around 55% in equity (owed -vs- worth) so it's already more of an asset then a debt.

Back when I was a young dumb Airman, I got severely in credit card debt. Took years to pay it off, but I am a better financially now because of having gone through that period.

I dont owe a dime but come January when I pay property taxes I'm reminded that I guess the stuff really isn't mine cause the state charges 25k or so to let me use it.

Great job. Property taxes come due at the end of January. I hate that day.

Debt is not your enemy...foolish debt is.

Many wealthy people have gotten rich by using debt wisely. Many more have become poor by foolish use of debt.

I've been retired with no debt for several years....was able to pay my house off a few months after retirement and been able to pay cash for new cars and any other large expenditures we've had to make...we use an American express card for most of our purchases and pay off the balance each month....monthly rebates average$60-80.00 per month....

Only debt I have is a mortgage. Its 450 a month then I pay property taxes in January. Both cars paid and have been for 8 years. My daycare bill is outrageous but that ends after this year.

Sounds like you folks are doing well.

I have a pontoon boat payment...they financed at zero per cent.
Still have mortgage payment on lake property in Texas.

Everything else is free and clear...except for taxes.

Don't owe nobody nothing and been that way about 15 years.