Excellent point. It’s far better to save up for a raining day. Then when you need the funds they’re there. Afterwards simply replace the funds. No stress, no anxiety, and no interest. It just takes discipline.
I’m not rich, but I have an aversion for debt. I hate it no matter the form it comes in. So when you say everyone should get a home equity line of credit “just in case” I cringe. Just begin saving up for an emergency fund. The last thing I want when I’m facing a financial crisis is more debt. You can never dig yourself out of a hole. Why is it so hard for people to just save money. Even if it takes years as it did for my wife and I it’s far better peace of mind than knowing I can borrow money against my house. And honestly the last thing I want to do is put the roof over my head at risk. That’s just the way I see a HELOC.
My thoughts in retirement are the same as when I was employed. It’s prudent (just a rule of thumb), to have minimum 3-6 months worth of living expenses (not income) on hand for an emergency fund. Whether you have a big or small retirement income, I believe expenses are the more significant factor. If you have substantially more than the above saved for a rainy day then you my friend are abundantly blessed.
I get it. Honest. But the primary reason to have a “good” credit score is if you’re planning to borrow money. I have no plans to borrow money ever again so, I don’t concern myself about the score even when I open an email and they offer to show me what mine is; I just ignore it. They have no idea how much you’re worth or what kind of financial resources you have. So what do they really know. It’s a game they play to get you to borrow money and pay interest. After all it was a financial institutions that thought up this crazy scheme. Just my opinion.
I don’t buy into the credit score scam that our financial institutions use. You CAN purchase a house without credit (we did) as long as you have a down payment and have the ability to repay the loan. We need to stop buying into these lies and perpetuating them on our children. I don’t care what our society tells us debt is dumb and I for one want to avoid it any all costs.
You made the right move Mark. Keeping your wife happy. That’s peace of mind at any cost. I love was Dave Ramsey says about a paid off mortgage; “Even the grass feels different when you don’t owe on it anymore.” If you really miss having a mortgage you can always go out and get another one.
Just keep the up vote and ignore the down vote if it’s kept. It’s all good. Life’s too short to worry about the petty down vote. Thank you for the article Dr. L. 😎
I like what Dave Ramsey says about budgets. “You’re in charge until you make a budget. Once you’ve created a budget the budget is in charge.” If you don’t want to be financially responsible and live within your means, then don’t bother with a budget. And yes as it’s been said before the individual ultimately makes the final decision. I like living on a budget for many of the reasons stated previously. It gives me boundaries, peace of mind, helps me to achieve my financial goals, and for my wife and I, it’s allowed us to retire earlier than we had originally planned. Thanks for the discussion.
Comments
Excellent point. It’s far better to save up for a raining day. Then when you need the funds they’re there. Afterwards simply replace the funds. No stress, no anxiety, and no interest. It just takes discipline.
Post: Advice I give to anyone who’ll listen!
Link to comment from January 31, 2026
I’m not rich, but I have an aversion for debt. I hate it no matter the form it comes in. So when you say everyone should get a home equity line of credit “just in case” I cringe. Just begin saving up for an emergency fund. The last thing I want when I’m facing a financial crisis is more debt. You can never dig yourself out of a hole. Why is it so hard for people to just save money. Even if it takes years as it did for my wife and I it’s far better peace of mind than knowing I can borrow money against my house. And honestly the last thing I want to do is put the roof over my head at risk. That’s just the way I see a HELOC.
Post: Advice I give to anyone who’ll listen!
Link to comment from January 31, 2026
It’s hell to pay. I personally would stay away from it because it’s debt. The bank doesn’t just give you money out of the goodness of their heart.
Post: Advice I give to anyone who’ll listen!
Link to comment from January 31, 2026
My thoughts in retirement are the same as when I was employed. It’s prudent (just a rule of thumb), to have minimum 3-6 months worth of living expenses (not income) on hand for an emergency fund. Whether you have a big or small retirement income, I believe expenses are the more significant factor. If you have substantially more than the above saved for a rainy day then you my friend are abundantly blessed.
Post: Retiree emergency expenses-how to cope
Link to comment from January 24, 2026
I get it. Honest. But the primary reason to have a “good” credit score is if you’re planning to borrow money. I have no plans to borrow money ever again so, I don’t concern myself about the score even when I open an email and they offer to show me what mine is; I just ignore it. They have no idea how much you’re worth or what kind of financial resources you have. So what do they really know. It’s a game they play to get you to borrow money and pay interest. After all it was a financial institutions that thought up this crazy scheme. Just my opinion.
Post: The Debt Free Penalty.
Link to comment from January 24, 2026
A credit score is based solely on debt. It’s a “I love debt” scorecard. What I prefer to a credit score is hard cold cash.💰 💵
Post: The Debt Free Penalty.
Link to comment from January 24, 2026
I don’t buy into the credit score scam that our financial institutions use. You CAN purchase a house without credit (we did) as long as you have a down payment and have the ability to repay the loan. We need to stop buying into these lies and perpetuating them on our children. I don’t care what our society tells us debt is dumb and I for one want to avoid it any all costs.
Post: The Debt Free Penalty.
Link to comment from January 24, 2026
You made the right move Mark. Keeping your wife happy. That’s peace of mind at any cost. I love was Dave Ramsey says about a paid off mortgage; “Even the grass feels different when you don’t owe on it anymore.” If you really miss having a mortgage you can always go out and get another one.
Post: The $8,000 Cost of Peace of Mind
Link to comment from January 24, 2026
Just keep the up vote and ignore the down vote if it’s kept. It’s all good. Life’s too short to worry about the petty down vote. Thank you for the article Dr. L. 😎
Post: The “Mean Girls”/Junior High Bullies at HumbleDollar
Link to comment from January 10, 2026
I like what Dave Ramsey says about budgets. “You’re in charge until you make a budget. Once you’ve created a budget the budget is in charge.” If you don’t want to be financially responsible and live within your means, then don’t bother with a budget. And yes as it’s been said before the individual ultimately makes the final decision. I like living on a budget for many of the reasons stated previously. It gives me boundaries, peace of mind, helps me to achieve my financial goals, and for my wife and I, it’s allowed us to retire earlier than we had originally planned. Thanks for the discussion.
Post: Can a budget do all that?
Link to comment from January 3, 2026