If you had your mortgage, car note, student loans and credit card bills paid off...

[Arkitech]

So if you were basically debt free and owned your home plus vehicles outright what would you do? Would you continue to work? Would you go part time? Invest in real estate or the market? Continue work but just save like mad? Splurge your paychecks on a few dream items?

 

[IronWing]

Save.

 

[nageov3t]

there's more to expenses than debt.

property tax, food, clothing, providing for your children, etc, etc, etc.

 

[Arkitech]

Originally posted by: loki8481
there's more to expenses than debt.

property tax, food, clothing, providing for your children, etc, etc, etc.

true, but in most cases the majority of income goes to paying down debt (unless you're currently renting or leasing).

 

[Barfo]

rejoice

 

[Baked]

Buy a pair of russian twins.

 

[angminas]

Fix my car, my mom's car, my roof, and a lot of other things

Go to the chiropractor

Splurge a bit on books and CDs

Work as many hours as possible for a year and save as much as possible

Look for something to invest in, like a startup or rental property

Go back to school

Take a bottle of really good whiskey over to my best friend's house

Start piano lessons again

Buy a quality wheel for racing games

And a lot of other stuff that's private.

 

[Newbian]

Hookers and blow is always a obvious.

 

[CRXican]

sell the house and buy one twice as big, duh

 

[wiredspider]

Originally posted by: Arkitech


true, but in most cases the majority of income goes to paying down debt (unless you're currently renting or leasing).

no....

 

[Rumpltzer]

Originally posted by: wiredspider

Originally posted by: Arkitech


true, but in most cases the majority of income goes to paying down debt (unless you're currently renting or leasing).

no....

I agree, no.

I do have friends who live paycheck to paycheck, but most of the people I know are just stockpiling savings and retirement.

I use spare money to buy crap that I know need (but want), I burn it on hookers and blow, and I like to travel. My travel is limited more by my limited vacation schedule from work (~3 weeks per year) and less by money.


So... the real question for the OP is, what do you want to do?

 

[Engineer]

Originally posted by: loki8481
there's more to expenses than debt.

property tax, food, clothing, providing for your children, etc, etc, etc.

This.

 

[Engineer]

Originally posted by: wiredspider

Originally posted by: Arkitech


true, but in most cases the majority of income goes to paying down debt (unless you're currently renting or leasing).

no....

This too.

 

[yoda291]

I would take a nap I think.

I haven't done that in EONS.

 

[radioouman]

I would quit my job and go get a job that I enjoy.
Of course there really isn't much keeping me from doing that anyway I suppose. My debt is a mortgage and a car.

 

[Demon-Xanth]

Invest heavily towards retirement and get a fun car. Like a 1940's Buick.

 

[bignateyk]

I dunno. I guess if I didn't have any kids (and didn't plan to), and I didn't ever want a nicer house, I might work less hours.

But I'm the kind of person who will keep wanting better houses, and will probably have kids, so I don't see that happening any time soon.

 

[JTsyo]

probably let my wife go part-time.

 

[Gunslinger08]

We'd both keep working full time. We'd probably a do a combination of:
- Save to high yield savings accounts
- Save to retirement accounts
- Splurge (deck, fence, finish basement, hardwood floors, new laptop, etc.)
- Take more/better vacations

 

[spidey07]

Originally posted by: Arkitech

Originally posted by: loki8481
there's more to expenses than debt.

property tax, food, clothing, providing for your children, etc, etc, etc.

true, but in most cases the majority of income goes to paying down debt (unless you're currently renting or leasing).

That's not true at all. It's only true for people that live beyond their means. Everybody else saves/invests it so they can retire early. How would you like an income int today's dollars of 150K without working and no debt? Travel every other week, etc.

 

[BassBomb]

I also don't have debt which is awesome

I never have had debt and am paying for my University on my own...

Me I spend alot of what I have left after paying expenses like 75% spend 25% saved... which is not that great but it beats debt

 

[protocol167]

I'd go to Disneyland

 

[Apathetic]

Save everything I can and try to retire early.

Dave

 

[Fingolfin269]

Two chicks at the same time.

 

[evident]

Originally posted by: loki8481
there's more to expenses than debt.

property tax, food, clothing, providing for your children, etc, etc, etc.

save, invest, and nice (fiscally responsible) vacation once in a while.