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If im having a conservation with a girl i barely knew or we were in the first stages..
Of dating i dont see why she needs to ask me about my finances,etc
Its none of her business.Maybe the OP over-reacts but i can see his point.
Now if a relationship is getting serious then thats another matter.
Not being in debt means that I AM financially secure.
Very true. Just because you have a house does not mean you're financially stable. If you look at the housing market today, a short sale means you're on your way to foreclosure though you still own the house. Foreclosure means the bank now owns the house and you don't. Both terms mean that you couldn't make your payments on your mortgage. Now if you do go into foreclosure, any good credit history you had is now down the toilet. The foreclosure goes on your history and your chances of getting another loan are close to NIL.
Very true. Just because you have a house does not mean you're financially stable. If you look at the housing market today, a short sale means you're on your way to foreclosure though you still own the house. Foreclosure means the bank now owns the house and you don't. Both terms mean that you couldn't make your payments on your mortgage. Now if you do go into foreclosure, any good credit history you had is now down the toilet. The foreclosure goes on your history and your chances of getting another loan are close to NIL.
Like TKramar said, not being in debt is the key.
That's an awfully naive opinion. Sure, if you have debt, your "security and stability" depend on if you can repay it or not, but just because you have debt does NOT mean you're automatically irresponsible.
Take me, for example. I own a house. I many not make a lot of money, but my mortgage payment is WELL BELOW what I would EVER pay for rent. I bought my house and paid $11,000 below what it appraised for. Instant $11,000 in equity, not to mention the complete remodel I did with the free $8,000 the goverment gave me for buying a house. What those two things equal to is an easy $20k+ in profit if I were to sell. I don't plan on selling my house anytime soon, so the equity will slowly go up as the years go on. Considering my house previously sold for $50k more than I paid, I could potentionally make around $100,000 on it someday. Not bad, eh? Who is financially stable, now?
Just because you rent, have no debt, etc., does not mean you're financially stable. Financial stability is more than keeping up with payments from each paycheck, it's having a future, investments, profits, an ability to manage assets, etc.
I don't believe someone has to own an house to be a good person, but it does show initiative.
Not being in debt means that I AM financially secure.
There are plenty of broke people that have no debt because their credit isn't good enough to BE in debt to anyone. I wouldn't call them financially secure.
If they're not spending money they don't have, if they're paying their bills on time, and have money left over--that's financially secure. Once you start spending money you haven't earned yet, that's a problem.
If they're not spending money they don't have, if they're paying their bills on time, and have money left over--that's financially secure. Once you start spending money you haven't earned yet, that's a problem.
No one ever said anything on here about people having BAD debt being financially secure...
If I were to be hit by a bus today, I have enough life insurance to pay off all my debt, plus some. THAT is financial security, my friend
Just because you own a house, doesn't mean you're financially stable.
Just because you rent, doesn't mean you're financially stable.
I've rented and been financially stable.
Now we own a co-op and I am still financially stable.
You speak of having investments and assets making you financially stable. Not so true. I had plenty of co-workers who had all these things and when the recession hit, bam, there went their stability.
No, I don't buy it if I don't need it, I don't buy it if I can't afford it.
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