Reply to Be honest - How many of you pay your complete credit card balance off each month?

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[quote=Anonymous]We have no debt, other than a mortgage payment. Our cars are old, but paid off. I just paid off the last of my student loans 2 years ago. We have a healthy income, but live in a modest home, drive modest vehicles, do not purchase anything that we can't afford to pay cash for (with exception to occassionally taking advantage of 0% interest financing, but always pay it off before interest can be incurred). I admit that I am sometimes very jealous of my friends, who have similar careers and likely similar income, living in huge homes and driving luxury vehicles. But then, I suspect they carry loads of debt. We have already built a substantial retirement portfolio and college saving fund for our son.

To be fair, though: I've read somewhere that approximately 70% of Americans carry revolving debt. I suspect that most who have responded to this thread have high HHI's and can afford to pay cash for items that most people would consider unobtainable luxuries, without credit. I'm not sure we're all sage financial planners, so much as we don't worry about forking out a few thousand dollars for unexpected repairs or buying that $7 cup of coffee twice a day.[/quote]

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