Our mortgage payment is MY ENTIRE SALARY. Luckily, DH makes more than me (by working freelance and getting to stay home all day, she mentions with a jealous tinge to her voice) -- enough that we can pay all our bills (and pay back Bro who gave us the downpayment within the next four years) and keep out of any other debt. We paid off our CC debt over the last few years and both our cars we got well-used and own outright, so the mortgage is the only big debt we have. Still, BIG.

By keeping your car for 15 years, or 225,000 miles of driving, you could save nearly $31,000, according to Consumer Reports magazine. That's compared to the cost of buying an identical model every five years, which is roughly the rate at which most car owners trade in their vehicles.

Seriously, the fact that people spend so much money needlessly on an asset that depreciates so quickly is bad enough, the fact they do it every five (or fewer) years boggles the mind.

In the last 10 years, between my brother and I, we've had 12 cars.

But the really funny part? Only 2 were mine.

To be fair, he's had the current one a couple years now. Maybe even 3. I think that's a record for him.

We have a 3 yr then it started adjusting loan - As of the moment - it is still less than a fixed rate - but that is where I want to head soon. Right now , we are in the jumbo loan world - so I watching rates and numbers to chose a best time. Unfortuneatly , I will need to stick with my credit union - jumbo loan #'s don't cause higher interest there. I just wasn't real happy with them when we refied the HE line of creditNothing that had to do with the dollars- just stpid shit. but since loans are part of thier business, it shouldn't have been screwy.

I'm somewhat paranoid about debt.

I paid off my student loans pretty early on, and I don't own any credit cards. The cost of my home is less than 3X my annual salary, I put way more than 20% down, and I got a 15-year fixed rate mortgage, which I'll probably end up paying off sooner, too.

Oh & in light of megan's post, what's even funnier, is that almost half of his cars, including the one that was totalled by insurance, are worth more than when he bought them. But...it's a different thing at work.

He soups them up. Even the totalled one, he bought back from insurance for $100 and parted it out. Of course, it's not like he made a profit, since he bought all the stuff originally and insurance payoffs are usually based on blue book, not street value.

the mortgage is the only big debt we have

That's huge, though. I have assloads of student loan debt, and a fair amount of credit card debt. Staying in this apartment I could afford as a student means I'm making strides in paying stuff off AND starting to save some. I still have a long way to go, though.

Don't forget I am way old, Jesse. We think we might stay in this house for, you know, ever. Or at least long enough to build up lots of equity.

You have plenty of time to pay stuff off and figure out if oyu want to own a home.

You're not so old, Robin! I'm hoping to get where you are by the time you did. Or, you know, get together with someone with money. Keep hope alive!!

::gives Robin the secret old person handshake::