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.
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.
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.
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!
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
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.
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.
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.
My parents had lots of debt. They filed bankruptcy once around the time I was born and again later when I was in my late teens, just before they divorced.
Money was a constant source of strain for them. My mom tried very hard to stretch the money but my dad was really careless with it - he still is, actually. My dad grew up really poor and felt this need to have lots of "stuff" to show that he'd made something of himself. He hated it when my mom would say tell him that he couldn't buy something because we couldn't afford it. I can remember my mom filling up gallon jugs with water because we'd gotten a 10-day shutoff notice from the water company and she couldn't come up with the money in time. Then for awhile they had more money, but eventually they lost their house.
After their divorce, my mom took some classes on personal finance and budgeting and she worked really hard to clean up her credit. She was a naturally frugal person so she was a lot happier having control over her money. When she died unexpectedly a few years later, her only debts were her mortgage on the house she'd bought all on her own (which she was very proud of) and about a hundred dollars on a credit card which she paid off each month.
My dad and his wife still spend money they don't have, writing checks and then trying desperately to move money around to cover those checks. They get calls from creditors and get shutoff notices.
no - my mum saved every penny she could and everything was paid for with cash apart from the house, even now she pays off her credit card in full each month and pays cash for most things, she is now retired and lives off her pension and part time work only using her savings for things like upgrading her car or taking a holiday. My dad is the same although I think my mum kept him in check
My parents were always very careful with money...so much so that my sister and I always thought we had grown up very poor. We were never allowed to do much and never had many clothes or toys or anything really. It was only a couple of years ago that we found out that my parents always had quite a lot of money and had just been extremely frugal
Anyway my mum uses a credit card for everything and ALWAYS pays off the total amount every month. (my dad passed away 10 years ago) and due to their frugal ways they were able to buy a dairy farm with cash almost 14 years ago too.
I never remember hearing about any loans except for a house mortage which had been paid off very early.
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