Step-sis has different opinion on debt
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|Sat, 05-03-2003 - 10:10am|
I was brought up somewhat poor (as we were on welfare and we all lived with my grandparents after my parents divorced) and just cannot relate to what she's talking about. I plan on having all our debt eliminated by the end of this year. I send $1300 a month to our last 2 credit cards (0% APR). I cannot WAIT to have all that extra money each month to put into savings. We choose to live very frugally now in order to attain the goal of being debt free.
But then I think that when dh and I finally decide buy a house (which we may never do since we have it pretty good where we are), we will have maybe 20% of a down payment for a $300,000 house - average price in NY - and be in practically the same financial place as my step-sis (not ever seeing an end to maortgage payments).
Is she right about how the rich live?