Looking at @silversaver888's posts I suddenly realized there is one (perhaps just ONE) good thing I've inherited from years spent under soviet (ussr) regime:
I learned how to live my life WITHOUT DEBT.
Loan? Debt?
Maybe the biggest I ever had was $10 for one day. The day when I forgot my wallet at home.
That is interesting to hear about the story of wallet you shared :)
A loan especially with an interest rate to pay, is never going to let you live without a stress.
You sure can call me stupid. Fool.
But here is my style of living.
Need smth? New car?
Come and buy it NOW. Paying in cash.
Need new apartment? House?
Come and buy it NOW. Paying in cash.
No debts.
No loans.
No interest.
Ever.
As much as I love American style, it never teched me one thing- living on debt.
I also prefer it the same way, and it keeps you in peace.
If i like something I like to wait and arrange for it rather than tempted by having as a loan.
I appreciate it.
Handing huge cash is getting difficult in India. We are moving more towards digitalization and everything is tracked.
Maybe this works in America but some other countries people rely too much on debt.
At least you have something good to remember the regime by. Being debt-free equates to freedom for me.
This is interesting. How did the years spent on the regime help you learn that?
A good strategy. Although you can always go and get a loan for a low interest rate. Take the full thing and buy $HBD put in savings. the difference in interests is your profit. Sounds risky? Maybe...
People in my part of the world have a popular saying "Debt is an evil companion". In other words, they (or at least the older generation) tend to evade taking loans whenever they can help it. Even in real estate, when they buy a property, the inconvenience of having to pay full price is considered minor trouble compared with major trouble that comes from taking loans and paying mortgages.