Quote:
Originally Posted by Tyrone Bigguns
I don't know the figures, but i'd love to know what percent don't have debt..or extreme debt.
I'm sure you could almost count the number without any debt on one hand.
What I'm getting at are people who use debt to live beyond their means...paying more than 40% of your monthly income toward your home and/or using debt to finance common big ticket purchases. If you have the coin to afford the debt you are taking on and do so because you can get a good rate on it, I don't think that is necessarily living beyond your means.
People who train themselves to use cash rather than plastic are typically the ones who are better off in a credit crunch.