Your Questions About Debt-free

Mandy asks…

how to live debt free?

I know that we are in a recession and chances are that we’ll still be in a recession most likely. Bear with me for this may be long, but i am 18 and i am almost graduating soon. i just want to know if it is better to go to straight to a four year college and end with $35000 in debt with interest, around $27,00 if you don’t count the interest, or go to a community college first to save $ and rack up some scholarships? because i hear and have read many stories of people who go to college to get degrees in something useless and end up with around $800,000 in debt and then not have the ability to pay it off in less than 10 years. And i know that I’ll probably have to take out a loan to buy a house but that’s probably the only loan I’ll ever take out in my life. I have more to say but i feel like it isn’t necessary to add. Basically i’m just asking for some advice on how to make good choices when it comes to money so that i don’t end up in debt, b/c my parents, siblings, and some of my cousins have lots of debt and i see how hard they are struggling just to pay it.

John answers:

I highly recommend starting at a community college because it’s cheaper, often the freshmen classes are easier and they tend to have more flexible schedules (so it’s easier to plan around work). If you don’t already have a job, get one and start saving money to fund your future. I admire your intent to live debt free, but not all debt is bad. Mortgages and student loans can be investments in your future. The key to managing your finances well is planning ahead and budgeting. There are several websites that offer free information/advice about personal finance. You might want to start with DaveRamsey.com.

William asks…

Can Anybody know About debt free cash free?

John answers:

Debt free cash free is the value of a business without any net debt (= debt less cash). Where a business has net debt, the debt free cash free value is higher than the value a seller would expect to receive for their shares in the business. Debt free cash free is very similar to another term used in finance: “Enterprise Value”.

Lizzie asks…

Caine nearly debt free?

Did you know that caine was nearly debt free after figures released today showed he had sold a damaged picture frame for £3.75 before tax, he will buy potatoes with it and put them on a board to assist with good housekeeping.

Fight Shite With Shite.

John answers:

I wish it was me who was nearly debt free

Donna asks…

Are YOU debt free? (:?

haha.
Just a random queston.
I for one, am debt free.

John answers:

Yes I am. I was laid off in January and had a little over $9000 in debt. I just recently paid off all my accounts and am happy to be completely debt free.

Betty asks…

Debt free with money ?

Ok so I’m in my 40s no debt at all house paid for cars paid for 2 kids going to college all paid for I have around 430k saved up my income yearly is around 175k I own around 10 Rental properties that make me about 10k a month how should I Invest should i just buy more Rentals I’m really clueless on these type of things…if it was you what would u do?

John answers:

Definitely put some money into a Roth IRA for retirement (the more, the merrier).
Buy more rentals properties, but slowly.
Invest in stocks, for fun.
Consider opening business, maybe a Subway or Storage Units.
Donate generously!

You can do just about anything once you’re debt free 😉
If you really need more options, find a local Financial Planner, he’ll do the thinking for you, Hah.
Good luck!

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