Comments on: Today’s Pledge: No New Debt http://www.thefinancecastle.com/2007/09/20/todays-pledge-no-new-debt/ A Personal Finance Blog About Investing, Saving, Making Money, And Retiring Early Tue, 14 Dec 2010 18:09:52 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Happy New Year! My Financial Progress Report http://www.thefinancecastle.com/2007/09/20/todays-pledge-no-new-debt/comment-page-1/#comment-78 Happy New Year! My Financial Progress Report Wed, 02 Jan 2008 19:23:00 +0000 http://www.thefinancecastle.com/?p=22#comment-78 [...] have also met my pledge made in September stating that I will not be taking on any sort of new debt. So far, so [...] [...] have also met my pledge made in September stating that I will not be taking on any sort of new debt. So far, so [...]

]]> By: Seems I’ve Been Tagged http://www.thefinancecastle.com/2007/09/20/todays-pledge-no-new-debt/comment-page-1/#comment-56 Seems I’ve Been Tagged Tue, 30 Oct 2007 14:36:20 +0000 http://www.thefinancecastle.com/?p=22#comment-56 [...] transparent when it comes to setting and meeting goals. I’ve already pledged not to bring in new debt of any kind.. We’ll go with [...] [...] transparent when it comes to setting and meeting goals. I’ve already pledged not to bring in new debt of any kind.. We’ll go with [...]

]]> By: Real Estate Musings http://www.thefinancecastle.com/2007/09/20/todays-pledge-no-new-debt/comment-page-1/#comment-10 Real Estate Musings Wed, 17 Oct 2007 14:41:37 +0000 http://www.thefinancecastle.com/?p=22#comment-10 [...] you’ve read some of my earlier posts, you probably already know that I have a good amount of disdain (fear?) of any kind of debt. Even [...] [...] you’ve read some of my earlier posts, you probably already know that I have a good amount of disdain (fear?) of any kind of debt. Even [...]

]]> By: Brip Blap http://www.thefinancecastle.com/2007/09/20/todays-pledge-no-new-debt/comment-page-1/#comment-4 Brip Blap Fri, 21 Sep 2007 03:12:48 +0000 http://www.thefinancecastle.com/?p=22#comment-4 Living debt-free is definitely goal #1, followed by the goal to have enough passive income coming in to live without working for a wage. I think it's a great idea to plan on paying cash for all of your living expenses, and you're right - a lot of people would argue that you CAN take on debt for a mortgage. I have a mortgage myself, so I may not be one to talk, but I think that a lot of people have had the wool pulled over their eyes by the banking industry into thinking this is OK. Taking on a mortgage when it was 2X your annual salary was one thing, but for a lot of people it's up to 5, 6 or more times their salaries and that debt will never be paid off. Good luck - it's a tough goal, but a good one! Living debt-free is definitely goal #1, followed by the goal to have enough passive income coming in to live without working for a wage. I think it’s a great idea to plan on paying cash for all of your living expenses, and you’re right – a lot of people would argue that you CAN take on debt for a mortgage. I have a mortgage myself, so I may not be one to talk, but I think that a lot of people have had the wool pulled over their eyes by the banking industry into thinking this is OK. Taking on a mortgage when it was 2X your annual salary was one thing, but for a lot of people it’s up to 5, 6 or more times their salaries and that debt will never be paid off.

Good luck – it’s a tough goal, but a good one!

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