Wonder how many cyclists already figured this out?

[Brandi]

Can you imagine how terrifying it would be to be locked into an ARM you KNOW you can't pay and wondering when they're coming to take your house?? I am thrilled to live below my means so I don't have to have those fears.

Amen sister! I am with you on that one. We have no debt except our home loan. And we refied at the right time. We took no money out when we refied cause we want to pay off our home loan. I think we got a 4.7% interest. when we bought our house it 6.8%. Our mortgage payments arelike $735. and we add an extra $300. a month to pay it off. When we bought our truck back n 2002 it was interest free. So that was cool! And it is paid off now. Credit cards we use like cash. If we don't have it we don't use it point blank. The credit card company does not like us!

[Mr. Bloom]

Interesting article on cnn/money earlier this week. It places a $180,000 value on the benefits of buying less of a car

http://money.cnn.com/2007/01/12/maga...ymag/index.htm

We've only bought two new cars in our marriage...both for Silver. 30 years ago, used cars were bad deals...but quality is much better now.

[silver]

We've only bought two new cars in our marriage...both for Silver. 30 years ago, used cars were bad deals...but quality is much better now.

you're forgetting the Mazda 626 that you got.


Right and buying a used car that is still under a warranty has worked out great for us.

but it is certainly nice to have the cars paid off and not want any thing else. While I hate driving a mini van...a '98 minivan with some 115,000 miles on it, I LOVE quickly stowing my bike (and various tri equipment) inside the van all nice and secure!

[Mr. Bloom]

oops, you're right. That was 1986 and I kept it for 9 years and 134,000 miles.

In Bloomington, we have a member of the Forbes 400 (estimated net worth is $4Billion). He drives a '96 Cadillac and his wife a '94 Buick. They park on the street...because the city won't let them add a garage onto their house...

[crazycanuck]

One can also go broke just trying to fly to North america...****..I need to invent brooms that can fly at 35000 ft..

c

[Fredwina]

In Bloomington, we have a member of the Forbes 400 (estimated net worth is $4Billion). He drives a '96 Cadillac and his wife a '94 Buick. They park on the street...because the city won't let them add a garage onto their house...

when I lived in Dallas, the newspaper reported Ross Perot drove a Chevy Caprice. most truly rich folks(as in monetary wealth) that I have know have had very plain cars.
personally , I'm jealous of my Brother and my SIL. they just bought a 60 year old two bedroom house for $50K. Of course, it is in Missouri.

[Geonz]

Good article - especially the fact that the notion of NOT HAVING a car was not only mentioned, but first on the list - even if it was a "long shot." Wow. The times they *are* a-changin'.

My mortgage is under $700 and I toss an extra "premium payment" in most months. I've been lucky enough to be able to buy my vehicles outright (that first truck needed a short term loan from little sister at savings account interest rates). No cable, no land line, no internet at the house Every time I get the blurb from Insight saying "Only $70/month for internet and phone!" I think "Wow!! I'm saving $70 each month!!"

My cab driving brother is going to need a car soon and mine fits the bill. I had already gotten to the point where "If lightning strikes it, I'll take the insurance and take my time replacing it." I didn't start out this aversive to driving - but I've gradually expanded my "acceptable conditions."

Big however - I am out here in a college town in the central midwest! I was reminded how easy the learning curve has been tonight because both of my left-hand turns had the people behind me anticipating that I'd be turning left and giving me lots of room to get across (the first time the guy just wouldn't pass me and I figured out the driver must have recognized my bicycle). Then you realize the truth behind all that stuff the vehicular cyclists say about acting like a vehicle and being treated like one.... knowing that's a whole lot more likely to happen here, where there really is enough room and time to get to work on time.

But I get inspired by thinking of the profound and horrible impacts that our dependence on vehicles cause.

[mimitabby]

our mortgage is $1400 a month but it will be paid off in 9 years (we got a 15 year refinanced mortgage) It's hard to compare to people living in Arkansas and Illinois and Missouri, but we compare very well with people who live in large urban centers.

We DO sometimes have car payments, but after the car is paid off we make those payments to ourselves, so when we are ready to buy the next car, we have a considerable start. This year might end up a little different because of all the bikes coming into the family (ack, cough, choke ) but this is the way we've managed for the most of our marriage. We also don't have credit card debt. (yet!)