You can live without borrowing money
Blogger plans to be a house with cash.
Too much credit and then a shortage thereof might be sinking the economy, but the personal attitude of blogger "NCN" is "Credit? Who needs it." He hasn't borrowed money in any form or fashion for four years -- and that includes using a credit card.
he's even saving up to buy a house with cash. Is this a radical
approach that's impossible for most people, or an idea whose time has
come? Either way, he explains how to do it.
Granted, NCN, who blogs at No Credit Needed, has an advantage on the housing front. He and his family live in a rental that's provided as part of his job compensation. However, planning for a house, car, the other big things we need to buy from time to time, let alone paying the daily expenses of life -- all without credit -- is remarkable and admirable.
Here's a word people don't like to hear -- sacrifice. He writes, "There are no shortcuts. If you want to have enough money in the future, you have to sacrifice today." That means buying generic and not buying every toy and gadget. He and his wife also put a house payment into savings every month. Remember, they want to buy theirs with cash.
You need to plan. Otherwise, how else are you going to save so you can pay for a new washer and dryer or car with cash?
Keep your focus. NCN says it best:
When everyone else is buying new cars and upgrading to the latest and greatest, it takes a certain inner strength to be content with what you already have. As recent events have shown, however, most Americans (and most politicians) would do well to learn a little fiscal restraint.
Published Oct. 7, 2008
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
A new survey reveals Americans are most embarrassed to admit their amount of credit card debt.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'