We have only borrowed money once: to buy our house. We paid off the loan the following year as the mortgage rate was 11 3/4% . We paid cash for all our cars: Dodge Caravan, Plymouth Voyager, 4 Ford Focuses, 1 Mazda 323, 1 Mazda 3, 1 Mazda Miata MX 5, and 1 Mazda 6. We paid cash for 2 new roofs and one flat roof ripped off in a violent downdraft. We paid cash for 2 hvacs, a new electric panel and two water heaters. We are not particularly rich but we are fairly good at saving and living the loca Boglehead life.
All our trips to Hawaii and theme parks are paid with credit card which is paid off at the end of the month.
When we paid off the bank loan for the house, we were house rich and cash poor. Klang Fool didn’t approve of such an approach, but we were almost 40 and didn’t know what we were doing. My wife was ecstatic in that now we were landed gentry. We didn’t even have jobs when we bought the house which we are still living in.
As our sons left for college, they each took one of the Focuses and Voyager. My oldest son commandeered the Miata several years ago. It’s still going strong at 16 years old. My grandson calls it his copper red zoom car. We have tried to pay for everything in cash. Cheers!![🤙]()
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All our trips to Hawaii and theme parks are paid with credit card which is paid off at the end of the month.
When we paid off the bank loan for the house, we were house rich and cash poor. Klang Fool didn’t approve of such an approach, but we were almost 40 and didn’t know what we were doing. My wife was ecstatic in that now we were landed gentry. We didn’t even have jobs when we bought the house which we are still living in.
As our sons left for college, they each took one of the Focuses and Voyager. My oldest son commandeered the Miata several years ago. It’s still going strong at 16 years old. My grandson calls it his copper red zoom car. We have tried to pay for everything in cash. Cheers!
Statistics: Posted by AlohaBill — Wed Feb 11, 2026 2:54 pm — Replies 15 — Views 765