Possibly selling? Confused.

[1HaytchZed]

x3 on the debt free.

I've been debt free my whole life, with the exception of my house. Feels great.

soooo..... you're NOT debt free then.

 

[SDDiver5]

soooo..... you're NOT debt free then.

Technically not if you look at it that way. House debt and credit card debt are two completely different things. House debt is good debt. CC debt (in excess) is bad debt.

 

[Benlandis24]

What you guys do if you were only able to pay off half of the credit plus a cheaper vehicle? Still sell?


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[bkg]

Technically not if you look at it that way. House debt and credit card debt are two completely different things. House debt is good debt. CC debt (in excess) is bad debt.

Debt is debt. House gets you a minor tax break, but as a financial planner once said to me: give me your check and I’ll pay your taxes. That’s essentially what the bank is doing for you. The older I get, the less I believe there is any “good debt.”

 

[bkg]

What you guys do if you were only able to pay off half of the credit plus a cheaper vehicle? Still sell?


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I’d still sell the damn truck.

 

[g man]

Get out of debt!

We are all slaves to debt until we decide to free ourselves from it.

Be free and enjoy your freedom with your family!!!


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[v_man]

Moral of the story is stay out of credit card debt. It makes you do things you don't want to do. Personally I'd keep the 100 and come up with a plan to aggressively pay down the debt.

 

[Benlandis24]

Sadly we normally don’t carry credit card balances. It was a freak thing. I have had bad luck with vehicles in the past which is why I’m hesitant to sell the lx but I also do not want these balances.


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[Florida Native]

Get rid of the cc debt. If you can make that happen while keeping the LX then do that. I am a big advocate of making do with what you already have versus switching to the grass on the other side of the fence that looks greener. A paid for vehicle that you know its history and maintenance needs/foibles is a great thing.

If you need to sell the LX, your DD will be just fine for "overlanding" for a few years, even if that means visiting state parks in a Camry. That's my $0.02.

And the third cent is free... don't finance toys.

-Mike

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