Comments on: Frugal funny

By: Tvents

Tvents — Tue, 23 Jun 2009 02:30:56 +0000

Rich people can use their debts for their desires of something profitable. But other people will ask for debts because they need the money to support their lives, either for daily lives or for the future. No matter what the purpose is, they have to pay for their debts.

By: Lesley

Lesley — Mon, 22 Jun 2009 21:45:39 +0000

Continuing education is a pretty good reason to get into debt. Yes, there are ways around it but for the most part people get into debt for education.

By: Weekly Link Review 22 June 2009 | frugalandthriving.com.au

Weekly Link Review 22 June 2009 | frugalandthriving.com.au — Sun, 21 Jun 2009 20:06:11 +0000

[...] for a post on the brighter side of being frugal (and innovative!) check out this post at Frugal [...]

By: happymom4

happymom4 — Fri, 19 Jun 2009 03:31:35 +0000

That’s too funny! And his saavvvy thinking was probably how he got all those millions to begin with! LOL!

By: Marianne

Marianne — Fri, 19 Jun 2009 02:01:55 +0000

That’s a clever twist!

I think debt for the sake of “stuff” is something to avoid/payoff. But a mortgage or an education qualify as investments in your future in my book – assuming you’re not buying a McMansion you can’t really afford!

Congrats to those paying off their homes early!

By: FrugalNYC

FrugalNYC — Thu, 18 Jun 2009 17:33:53 +0000

I heard of this before and was actually looking for it a little while back. Thanks for bringing this up, I think it’s a great story and reminder to those of us looking for a creative solution.

Debt if used properly, can make or break a fortune. You just need to learn how to use it, as I believe most readers of this blog are all trying to figure out.

By: Catherine @ Frugal Homemaker Plus

Catherine @ Frugal Homemaker Plus — Thu, 18 Jun 2009 16:07:15 +0000

Edi, thanks for saying that about the house! We’re doing the same thing, and we keep getting told that it’s not possible. I’m pretty sure it is- we’re doing great at it so far! (We have to finish paying my husband’s student loan first, but if all goes well, we’ll be done in August! If we can continue at our current rate, we’ll have no debt, including our mortgage, by 2012!)

By: Edi

Edi — Thu, 18 Jun 2009 00:16:18 +0000

Buying a house is obviously going into debt unless you are able to pay it all at once in cash I’d say if you can’t pay for it all with cash – then pay it down as soon as you can – double payments – working overtime whatever it takes to get it paid for. The few years before we had children, both my dh and I were working full-time. We bought a cheap house (living below our means) and used all my paycheck probably and some of my dh’s to get the house paid off within a couple of years – it is possible!

Going to college I think is another “good debt” if it’s managed and thought through carefully beforehand.

Going into debt isn’t always the problem – it’s how the debt is dealt with.

By: Jenny

Jenny — Wed, 17 Jun 2009 18:07:55 +0000

Oh, ya got me. I hadn’t ever heard that one. I don’t think there’s a good reason for debt. But then I have difficulty imagining all the possibilities.