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As a 30 something home owner, I'm pretty debt averse
I got a mortgage smaller than i could of (which was wise as interest rates cant be indefinitely fixed in Aus and they've started climbing recently)
I have a company car and my partner owns hers outright
We'll probably borrow to buy her a new one in the next few years, but that's the only debt i'm comfortable with
We're getting married 2024 and if we cant pay for the wedding in cash, we'll either scale back or postpone
I've spent the last 4 years renovating the house i bought. a little over $100k worth of work, all paid for in full in cash
We took 4 weeks off and went to Europe for Christmas a few years ago. $20k trip, paid in cash
Every watch i own, saved and paid cash
No Credit Cards
No "Buy now, Pay Later" accounts
A lot of people my age just compound their debt until it gets too much then consolidate to bring their payments down
I'll pass on that
A friend of mine once asked me "how much money would you need where it would completely change your life without ruining it?"
My answer at the time was: $396,585.84- my Mortgage
Clear that and i'm good
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If you cant afford the depreciation, you cant afford the purchase
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