>>62252281
I owe about 1800 in bills alone right now and I don't work, every single day is just another possible day something gets shut off.

>>62252281
I paid off $180k in student loans only a few years after graduating. Half of it was from consistently paying extra every month from waging and living frugally. The other half was from profits made on crypto during the 2017 bull run. It honestly felt amazing and lucky. I had bragging rights amongst my family and friends.

I didn't stay debt free for long though. I was able to get an unsecured low-interest personal loan of a whopping $100k which I used to buy BTC and ETH throughout 2018. That was a rollercoaster of regret and eventual redemption when I paid it off after a couple of years. Then BTC/ETH exploded in value after the pandemic started.

Now my only debts are $400k between my house, car, and credit cards. I have the means to pay these off at any time but they're 0% or very low interest.

>>62252341
>low-interest personal loan of a whopping $100k
How did you secure a loan like that?

I was going to post a story about how I was 1 gazillion in debt and then made a gorgillion but I notice every single thread without fail has some post like >>62252341 with some fag who claims to be rich having 'made all the right choices' as though he had insider (or rather, future) knowledge but somehow stuck on /biz/.

Kek
It's all the same broke neets isn't it.

>>62252352
This board has less than 7 active users currently not including the 1 faggot who phoneposts and samefags.

>>62252313
I am sorry anon.
>>62252341
Good job man. Though I wonder if stocks will halve with the coming upheaval, then you you wont have the on-paper means to pay it off.

>>62252352
Did you just go back into debt like the other anon then?

I don't have any debt, but I also rent and have a shitty car. Got like 70k, trying to save and invest more. I'll do anything I can to avoid debt going forwards for sure

>>62252281
Never had any debt in my life, not even €1

>what did you learn
It was an unnecessarily slow route

>>62252373
There's got to be more than 7

>>62252281
1. you lose a bunch of tax write offs
2. you become vulnerable to lawsuits
3. your credit goes to shit
4. you're immediately disqualified from most government assistance
5. It does feel nice and the bills go way down

I paid off my house and then immediately mortgaged it again to get my cozy home office deduction back.

>>62252281
>finally debt free
>had to buy a new house 1.5 years ago, probably the worst time to buy
>"well, at least I have a lot saved up, maybe I can pay it off early"
>18 year old car finally starts havign major issues

>>62252493
>3. your credit goes to shit
This one isn't actually true, is it?

>>62252482
7 might be stretching it honestly.

>>62252503
>This one isn't actually true, is it?
they treat you like you have no credit history and your score starts to drop the instant you pay off your debt.

seriously, banks want you using credit, but not too much credit

>>62252508
As a non-American Jew, I can confidently say the U.S. "credit score" and "credit history" are the most cucked thing you guys have, literally a good goy score lmao

>>62252518
yeah it's pretty bad. Especially when they use it for stuff other than borrowing money. Fuck up your credit here and everything becomes more expensive or sometimes impossible.

>>62252529
>stuff other than borrowing money
Like what?

At least Americans get a consolation prize (cashback) for playing the cuck game.

>land of the free
>they are all slaves

>>62252559
>Like what?
renting apartments and cellphone contracts and opening utility accounts, stuff like that. If you have a credit card you use to buy gas and pay it off every month and do nothing else with credit you're fine for all that stuff though

>>62252350
I think they were targeting working professionals at that time. Literally all they wanted to know was my educational background, credit score, job title, and income.
>>62252352
I didn't make the perfect choices but I made some great ones. I can show you the receipts if you think I'm LARPing.
>>62252381
>Good job man. Though I wonder if stocks will halve with the coming upheaval, then you you wont have the on-paper means to pay it off.
That's... probably not going to happen. Don't hold yourself back with conspiracy theories.

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>>62252281
I'm debt free and have multiple layers of investments.
It's not a lot of money yet but it makes me very comfy.
I find I spend a lot less money, I quit smoking just because I didn't feel like it, don't drink anymore again just because I don't fancy it.
I potter around and keep the house hotel clean, read books, leisurely go down the supermarket on a Sunday evening and collect whatever I want for work lunches instead of going to a bakery.
I eat less and have been losing weight. I don't eat everything on my dinner plate because "I paid good money for that".
I keep all my vehicles maintained well and up to date and in general complete anything on my to-do list as soon as they appear so I sleep easy and don't have to "remember to pay that speeding fine", just pay it the moment I bring it in from the mailbox and throw it in the rubbish.

I don't care much about money any more even though I actively manage mine and invest every week. I'm not impressed by someone's new car, iPhone or Samsung I just think it's a waste and when I hear it's on finance, I don't say anything but I feel sorry for them.

>>62252597
>it's on finance
mines been paid off for over a year but I did finance it since it was at 0% over two years just added to my phone bill. I could have paid cash bit I figured why not

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>>62252702
>why not
It's just debt, an extra expense that cuts into your FCF.
For Two Years.
Whatever you do, go on Holiday, quit your job, move house you have inflated outflow on a massively depreciating asset.
I'm very much against expensive phones, I think they're complete garbage driven purely by social pressure into consumerism.
I paid $200 new for my phone 2 years ago, 8x core 2.4ghz, 8gb RAM. Does anything and everything a $2,000 phone can do at 1/10th of the price.

>>62252281
I have never been in debt, not once, in my entire life. So I wouldn't know. Not even mortgage, because I'm not personally ready (but i am financially ready) yet.

>>62252518
>non-american jew
Even israelis themselves are ashamed to admit who they are.

starting life in debt for learning how to cook burgers, winning.

I have no debt and taking any debt on at this time would kill me, I simply couldn't afford it.

>>62252574
>That's... probably not going to happen. Don't hold yourself back with conspiracy theories.
Here's the thing about that, eventually debts will become unserviceable. This is a mathematical certainty. So we can expect that a lot of people or companies will have to sell stock to keep paying for debts. I think that whole meme going around about stocks never crashing again is naive.

>>62252597
You own a hotel?

>>62252508
This isn’t true at all. I have zero debt but they still put my credit score at over 750.