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We are debt free but the house, the payment only requires one of DH's paychecks (he gets paid twice a month and then on the off weeks he gets his overtime check) or my paycheck for the month when I can get my lines in, we have never taken out a second mortgage or touched the equity in our home. Our mortgage rate is low to mid 5%, cars paid off, CC paid in full, great credit score and we live below our means. We still take vacations, eat in restaurants, etc. Our circle of friends don't seem to have any problem with this economy, other than investments. We are in our late 40s, early 50s, kids grown and gone, we don't pay for college. DH drives 66 miles round trip to work, but has an economical commuter care. Our SUV gets about 20 to 24 mpg, which compares to some newer ones out there.
My DH has worked for the same company for 25 years, however, layoffs are coming, and he is putting out his resume just in case. He will get a nice severance package, etc, if it happens, but we are planning in advance just in case. House is up for sale, a few very interested people, and if it sells we will make enough profit to buy a house free and clear.
We have always lived below our wage and I think that has helped us tremendously. Do we want new cars, TVs, etc, sure, but why bother, we don't want the payments that come with them. We are happy with what we have, don't have a lot of the gimmes or wantitis that has a lot of Americans in debt up to their eyballs with no way out. |
It hasn't too much, except in the 401(k)... - happymt
