Comments on: New Goal: I want to buy a house with cash! (or, I hate debt)

By: Until Debt Do Us part

Until Debt Do Us part — Wed, 17 Sep 2008 13:14:27 +0000

Good Post.

I can understand your desire to pay off your mortgage fast. This is a dream of mine too. I currently don’t have a mortgage as I am renting but wouldn’t it be amazing if you could buy your own place outright with cash?

Think about what you could do with the money that otherwise would have been going towards your mortgage.

By: Weekend Reading: July 13, 2008 | Moolanomy

Weekend Reading: July 13, 2008 | Moolanomy — Sun, 13 Jul 2008 16:06:42 +0000

[...] New Goal: I want to buy a house with cash! (or, I hate debt!) at This Writer’s Wallet — I can understand the theory of debt is bad, but buying a house with cash is a bit extreme in my humble opinion. [...]

By: Dave

Dave — Thu, 10 Jul 2008 15:35:15 +0000

Emotionally, I understand the desire to be debt free but is your goal to be debt free or to build wealth? Paying cash for a house is not the optimal way to build long-term wealth.

By: Curt

Curt — Thu, 10 Jul 2008 03:25:21 +0000

Two things…

1) Spend some time and find the right home for you
2) Get a 15-year loan and plan on paying it off in 7-10 years

By: Blogging Down Debt

Blogging Down Debt — Thu, 10 Jul 2008 01:17:10 +0000

I definately agree with you on debt. I am working to pay mine off as fast as I can. Once most of your debt is away, your cash flow is freed up. The better your cash flow, the more you can live you life and not rely on wages!

By: Find Financial Freedom

Find Financial Freedom — Wed, 09 Jul 2008 16:13:07 +0000

Interesting post, like a lot of middle class people, your attitude to debt is very similar to my parents. They have never been big fans of debt, as they feel it traps people. I think the longer you can live frugaly and save money by living at home, the better. Though one thought to bear in mind, the housing market may be falling right now, but when it does start to rise again, your strategy may come up short, as the increases in property values will be far greater than the increases in your monthly savings…

By: On Loaning Friends Money (or, I’d rather give) at This Writer’s Wallet

Sun, 06 Jul 2008 13:05:48 +0000

[...] I was reading Total Money Makeover, Dave Ramsey pointed out the Biblical principle at work here: Proverbs 22:7 [...]

By: Aspasia

Aspasia — Sat, 05 Jul 2008 20:48:32 +0000

That is an awesome goal! If you and your parents are okay with your living situation, then stash your money away. It’s very ambitious but you are proving that it’s manageable. Good Luck!

By: GG

GG — Sat, 05 Jul 2008 17:43:31 +0000

Wow! Way to go, FGS! This whole idea of shorter mortgages and aiming to pay off faster is new to me, so I’m especially impressed by people already doing it. You are someone to pattern after, for sure.

By: Fourth of July Roundup — Broke Grad Student

Fourth of July Roundup — Broke Grad Student — Fri, 04 Jul 2008 11:03:24 +0000

[...] GradGirl at This Writer’s Wallet has set a new goal. [...]