I believe that the system sets up people our age to fail. The system says go to college (with student loans) get a credit card so you can still have fun, when you get out of school you need to buy a new car with your first job (more debt) then maybe buy a house (more debt), go on fun trips (with your credit card). Everything they tell you is that you "deserve this!" Frankly unless you can pay cash for a car, trips, fun you don't deserve any of it. The only debt that is remotely ok is house debt IMO
Now our story. My wife bought her first car when she was 16 for $500 cash that she earned on a paper route. She then bought a $5000 car cash when she was 18. She then bought her first house when she was 19. We got married at 23 and paid for our wedding cash. At 24 when she wanted a nice car we paid cash and waited for the right one. We take trips where we pay all cash. And the best part of it all is we didn't go to college and we make over $100k. We own 3 houses and have no debt beside the houses. Now we have saved up 1.5 years of her income so that she can go full time into real estate. But we had a plan and didn't jump until we could. Also she left her parents house when she was 15 because they were abusive alcoholics.
The formula is easy. Don't go in debt, work your a** off, live on 50% of your income (or less) and know that if you want to be successful in this world you have to go out and TAKE IT because no one will give you anything. Listen to Dave Ramsey and he will get yout mind right on debt.
