In another post, I told the story of how I sold all the stock investments in one of my portfolios in order to pay off about 80 percent of our mortgage debt, which is incidentally (and thankfully) our only debt. At one point, I offered a rather pointed opinion about my dislike for debt that I want to write more about. To some people, I might have come across as being very harsh in my opinion about debt, even freaked out about it, but should I be? Is it a modern reality that I and others should just learn to live with because borrowing interest rates are so low, or is one right in trying their utmost to get out of it as quickly as possible? Continue reading “Should a Person be Freaked Out About Debt?”
What I’m about to recount is what I wrestled with regarding a pretty big financial decision: whether or not to use stock investments to pay down mortgage debt. My intent is to give some perspective and advice Continue reading “Using Investments to Pay Down Debt: A Story”
The great financial plague that is wiping out households across North America in particular is none other than personal or “consumer” debt. I’m describing it like it’s something to be feared because there’s still enough old-school financial thinking left in me to realize just how nefarious it is. Once out of hand, it not only destroys one’s financial situation, but it has also Continue reading “Death By Subscription”
It can be argued that the concept of saving is largely a lost art.
From a developed-world perspective, there is no longer a stigma attached to debt like there was a few decades ago, so people merrily spend their way into multiple forms of debt without thinking about the future consequences. The ideas of penny-pinching, not buying what you don’t have the cash for, and other forms of saving and frugality – with the goal of someday building a nice nest-egg of savings – have been lost in this world of abundant and easy credit.
In fact, it would seem as though Continue reading “Overcoming the Debt Mindset”