I feel so lucky that we don’t have any consumer debt. It’s not all luck though because we have always been frugal and avoided spending money we don’t have. One thing that’s fascinating to me is those mesmerizing debt counters. It’s crazy to see people rack up so much debt every few seconds. It’s a good deterrent for me to avoid any new debt.
Unfortunately, we still have a mortgage so we are a part of the counter for now. We are making extra payments every month, but it will still take 15 more years to pay off. One day we will be debt free, but it will be a while. At least the interest rate is so low now that a mortgage is not a huge pain. The United States isn’t the only country with a debt problem. Our friends in the UK are also having problems with their debt load. View how quickly UK consumers accumulate debt with this live debt ticker.
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