The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  https://boards.fool.com/my-parents-were-in-debt-my-entire-childhood-my-31394638.aspx

Subject:  Re: Debtor vs Creditor Date:  9/2/2014  10:13 PM
Author:  Windowseat Number:  308578 of 313032

My parents were in debt my entire childhood.

My parents had a mortgage. That was it. And (please keep in mind that they bought the last house in 1962) they paid $153.69 a month. (Or something close to that. I might have the decimals wrong, but I'm fairly certain about the rest).

During my last job, my mother would occasionally worry about how much money I didn't have, and I kept explaining that I was saving 30% pre-tax. Some of that was 401(k) and some was Roth IRA, and the rest was savings or some investments. So she'd stop worrying until she forgot what I had told her, so I'd repeat myself.

My sister and her husband didn't have credit reports (they were married right out of college) but my BIL has a passion for saving money. He once spent most of an LA summer under the house removing tree roots from the plumbing. He preferred that to paying someone to do the job.

So there are savers out there. I suspect they find each other through some mystic bond: maybe they hear the other one say, "I'd never pay that much for a sandwich. I brought my own."

And there are also spenders married to savers, which can lead to trauma for everyone.

Nancy
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us