Do you remember your parents carrying lots of debt?

**homesteadmamma** · 01-07-2006, 05:46 PM

No, my parents hated debt. I remember the first new car they bought for $3500.00. I don't think my mom slept a night until that debt was paid off.

That was the only time they carried any type of debt.

**Mojjo** · 01-07-2006, 05:52 PM

my mom...yup, i even used to answer the phone and tell creditors she wasn't at home.

my dad...nope but he always paid it off...he also got away with next to no child support so...whatever

**canadian gardener** · 01-07-2006, 05:55 PM

mine hated debt too, and no they didn't even care for the necessity of a mortgage and thought that if you couldn't pay for something without credit, that obviously you wouldn't be able to afford it when the credit card bill came in either. so they didn't do credit.

**Emerald_Mommy** · 01-07-2006, 06:13 PM

Mine hate debt but I remember a time in my childhood when the church my dad was pastoring couldn't pay much and they were using credit cards to buy groceries. They had a 2nd mortgage to make ends meet. They hated the debt but no one had taught them what to do and the church didn't understand that my dad needed a 2nd job.

Fortunately those days are past! Today they have a 15 year mortgage which will be paid off early and the faithfully use the envelope system. So anyway, yes, I remember them carrying debt, but no they didn't like it or cause it through extravagance.

**kaykwilts** · 01-07-2006, 06:28 PM

I think my mother may have had a CC at one time but it was paid off every month.

**Michelle** · 01-07-2006, 06:32 PM

I never knew anything about my parents' finances growing up.

**thrifty gal** · 01-07-2006, 06:33 PM

Yes, my parents has plenty of debt. And, nothing to show for it. Always made me very angry, and that's one of the reasons I am frugal and not like that. I think my mom had around $14,000 in cc debt. Things have been so bad for my parents that they have filed bankruptcy 2 times in their lives. Just kills me.

**mom2matty** · 01-07-2006, 07:02 PM

I didn't have a clue about our finances for a very long time growing up. Both of my parents worked and I know my Mom would hand over her paycheck and my Dad would handle...actually mishandle the money. He was awful with it! He did carry a lot of debt and infact declared bankruptcy twice!!!! Most of this I knew nothing about until after I was married......I am not sure how he did things and how they managed to keep most of it from my sisters and I but they did! We never went without....we didn't have a lot but we never went without!

**Pepper** · 01-07-2006, 08:07 PM

My mother most definitely did and still does. She has several checking accounts open just for the overdraft. She shops on this

She will pawn anything and everything to go shopping. I couldn't tell you how many credit cards she has!! She will stop at nothing to get money

**dwallyfam** · 01-07-2006, 08:10 PM

My parents carried hardly any debt. They didn't like having the mortgage. They most always paid cash for everything including cars until I graduated HS. That is why my dad is in such great shape with his finances.

Kellie

**AmyBoz** · 01-07-2006, 09:47 PM

I remember that my parents worked very hard to pay the bills and that money was a constant source of strain.

**Jasmine** · 01-07-2006, 10:47 PM

I knew nothing about my parents finances growing up. My mom was a SAHM and dad worked. It always felt like, to me, that mom could spend whatever, whenever. Unfortunately, they never taught me anything about money, debt, or budgeting.

**sunshine** · 01-07-2006, 11:42 PM

Nope-- no debt until they bought our farm when I was 7. . . then that was the only debt they had until after I was married with kids of my own. . .

Now they have some credit card debt- but the farm is paid in full.

**hollyhill** · 01-07-2006, 11:57 PM

NO. They hated debt, too.

They paid cash or did with out. Even for cars.

They only had a mortgage which they paid off as quick as possible.

It was a blessing they were debt phobic because my father became very ill and died. Leaving my mother with medical bills (there was no MSP then) and children.

**ACEHearts** · 01-08-2006, 01:26 AM

My parents had the mortgage on the farm and I think some extra loans here an there. We always knew $ was tight, mom never made any effort to keep that from us. As a teen I remember not even telling my parents about a school trip because I didn't want to ask for the $, and it was only around $200 for the trip.

Now as an adult, I look back and think on what they have done, and know that they didn't always make the best choices in their financial matters and still don't, but also know that if we hadn't been aware of the struggles, I wouldn't be able to know I'm in control of our financial life now. Even though we have some debt, I know DH and I can handle it, and it isn't a constant source of stress, which my parents STILL feel even now.

It wasn't always like that for DH and myself, we had a really rough time a few years ago due to layoffs, but since have moved and have much much more job security and peace of mind than ever before.

Cindy