Forum Discussion
Mr_Mark1
Feb 27, 2017Explorer
Campbell, I think everyone has their level of comfort.
One day, when the music stops, there is no where to sit and a person will lose everything. I've seen it happen to several people during the recent economic downturn. Those folks were riding 'high-on-hog' and BOOM, credit dried up, people stopped spending money and 'voila'....bank comes knocking on the door wanting their monthly payment. They lost everything.
There is a plus side to being debt-free..... YOU are in control!
YMMV,
MM.
One day, when the music stops, there is no where to sit and a person will lose everything. I've seen it happen to several people during the recent economic downturn. Those folks were riding 'high-on-hog' and BOOM, credit dried up, people stopped spending money and 'voila'....bank comes knocking on the door wanting their monthly payment. They lost everything.
There is a plus side to being debt-free..... YOU are in control!
YMMV,
MM.
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