I'm not going to discuss club business here because that was a small part of our discussion. Once he clarified his reasoning for what we should do the discussion switched to personal finances.
Seems according to him, the wife and I were right in paying off the house and cars off early.
Of course, the experts say putting the money in CDs and drawing interest is often the way to go and on paper it is. We both agreed that getting out of debt was better for our sleep.
In 2004 we became debt free and have stayed that way ever since. The only debt I carry is credit card debt that gets paid off at the end of the month. I think that the only interest I have paid on my credit card since 1990 was about six bucks because of a cash withdrawal glitch several decades ago.
While my home is certainly not a McMansion, it's a decent place to live.
In the beginning we were a bit 'house poor' but that only lasted a couple of years because I worked to get ahead and increase my income.
What's interesting to note is that almost a year ago I started keeping copious written records of expenditures on paper. Prior to that I simply ball parked everything in my head. It was simply amazing at how close I had been doing things in my head.
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