Re: At last – I’m not alone!
Amazing how you don’t need a credit rating if you don’t plan to borrow money again! If you are familiar with financial author Dave Ramsey, well, he’s a multimillionaire and became that way without any debt. He doesn’t even have a credit score, it’s been so long since he borrowed any money. If he wants something…say a house …he just pays cash! (I don’t agree with his advice on how to invest, but he’s proof that debt free works)
I know!! This is something my husband and I have been discussing ever since the property values started to tank and we noticed none of the houses in the neighbor were selling. It’s costing us too much to stay in this house, and if the real estate bubble bursts completely we’re looking at losing over $200k… more than 2 years salary! It’s going to take at least 7 years for the economy to straighten out… so even if our credit got messed up with a default, it would be cleared up by the time we’d crawl out of hiding and rejoin the world (not likely – we like our homestead idea!). No credit, no problem, don’t need it!!!