Debt free
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Try to save as much, if not more, as you were spending on clearing your debt. Mrs Wife and I got ourselves debt free about 8 years ago and it has been very easy to save a lot because we have nobody taking our money each month.
Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett
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d@nish wrote:
That would keep me in debt for an awful lot of time.
Took me 39 years to get mortgage free.
Unrequited desire is character building. OriginalGriff
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d@nish wrote:
That would keep me in debt for an awful lot of time.
Took me 39 years to get mortgage free.
Unrequited desire is character building. OriginalGriff
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d@nish wrote:
You must have bought a castle.
Not at all, the biggest house I ever owned had only four bedrooms (one of which was very small). It's just that my life and career took many unexpected turns over those years, and only in the last 10 to 15 years was I able to really work on getting rid of the debts hanging round my neck.
Unrequited desire is character building. OriginalGriff
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d@nish wrote:
You must have bought a castle.
Not at all, the biggest house I ever owned had only four bedrooms (one of which was very small). It's just that my life and career took many unexpected turns over those years, and only in the last 10 to 15 years was I able to really work on getting rid of the debts hanging round my neck.
Unrequited desire is character building. OriginalGriff
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I was moving from one town and selling a three-bedroomed property, to a slightly cheaper area and also borrowing more money. It's all relative anyway, my present house is half the size of the four-bedroomed one, but cost a lot more. [edit]I'm sure Bangalore is much the same, I saw some very different areas when I was there a few years ago.[/edit]
Unrequited desire is character building. OriginalGriff
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Congratulations. I have been working on getting ride of all debt except my mortgage for a couple of years now and still have a couple to go. I cannot wait. I just pray I keep my/a job.
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I was moving from one town and selling a three-bedroomed property, to a slightly cheaper area and also borrowing more money. It's all relative anyway, my present house is half the size of the four-bedroomed one, but cost a lot more. [edit]I'm sure Bangalore is much the same, I saw some very different areas when I was there a few years ago.[/edit]
Unrequited desire is character building. OriginalGriff
Yes, in Bangalore too there are different areas. I will never by a property in Bangalore since this is just my work place. I will buy one in my hometown. It is relatively cheaper than Bangalore for similar size and quality of construction.
"The worst code you'll come across is code you wrote last year.", wizardzz[^]
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In the US it is very normal to take a mortgage to get a house. 30 year is a pretty standard length of mortgage, although there are lots of others to choose from. When someone here says "you can afford that house" they mean you can afford the mortgage payments and in many cases HOA fees and utilities, depending on who is doing the talking. Real estate people always claim you can afford more house than you really can. It is also normal to have a car loan, although I never have.
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It might be a useful idea to try and maintain your position longer. I've had real good value from this book. Uncommon Cents: Benjamin Franklin Secrets to Achieving Personal Financial Success [Paperback] Lynn G. Robbins (Author), Lisa Vermillion (Author), Dennis Webb (Author) http://www.amazon.com/dp/0939817063/?tag=googhydr-20&hvadid=11868512029&ref=pd_sl_8gcpgikcj3_b[^]
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