Is it possible to live with no debt?

It depends on your life style.If you spend more than you earn,you would have to borrow money at least for food.You would have to borrow,if your wants are more than you can afford.On the other hand,if you lead a simple life,don't squander money,limit your wants,you can live without incurring any debt.Everything depends on how you live. Nearly a decade back,I did not have to borrow.Things were much less costlier then.At that time my income was much less than what I earn now.During British rule,one of my relatives was a railway guard.He used to tell us his salary at that time was Rs.5 a month.But with this paltry salary he could live like a king. Now prices are sky rocketing.Living a simple life has become very difficult,if not impossible.If you aspire to educate you kids,you would have to borrow.Much depends on how you live.

Yes, we all can live with no debt. To be in debt is a choice. We have to make a clear distinction with our NEED and WANT. What we need may not be what we want but we have to have it. What we want may not be what we need but we want to have it even if we can not afford it. For example, a car. Why can't we take bus instead? Because the bus service is slow and does not follow a set time schedule is not reasons good enough to justify the buying of a car which will get you into having a debt. You can overcome that by being 2 hours early to catch the bus. Of course it is not practical and hard to do that everyday but it is a want and not a need if anyone wants to be debt-free. But if you can not afford to buy a car, it will be what you need to do to be early to catch the bus. Debt-free life is possible but it may not be practical. But being in debt for things you can not afford is a disaster for your life.

Of course you can have a life without debt, but it is really a matter of degree. To attempt to have absolutely no debt at any time would be extremely difficult, requiring a greater outlay in the long run. Very few people could buy a home without taking out a mortgage, which is a major debt for a great deal of people. If you do not buy a home then you will pay rent for the whole of your life, which is a tremendous amount of money.

Yes, you can live without debt, my parents do and we have nice things, nothing fancy, but everything is paid for, you just have to stick to a budget and set limits for yourself.

It will take a lot of determination to say no to the following, but I think it is possible: 1. Credit card spending 2. Buying stuff you already have, but wanted more. 3. Comparing with those around you and envying them. 4. Spending all or more than you earn. 5. Showing extravagance If you can say NO to the above, it might help you on your way.I am still trying after all these years. LOL

Of course it's possible. You just have to be with in limits. Do not increase your spending then your earnings. If you want to buy some thing expensive just work hard for it other wise you'll be still working hard but not for your self but to pay your debts and it's int-rest, so stay safe, stay within your limits.

While the cost of living is high, many people live within their means. It's a choice. Why go into debt?? If you cannot afford to pay for something then don't have it. Save your money and pay for it in one hit. Show me a person in debt and I will show you a fool who wastes money. They spend without thinking. They buy things they don't need, then they buy more. They buy things they cannot afford. Their lifestyle is expensive like eating out, too many clothes and shoes too much entertainment too much of everything most of which is basically unnecessary. No-one can have everything, unless of course you are very rich. If you are not very rich you need a budget and you must stick to the budget. I've known of people who have run up hundreds of dollars on their mobile phones. But they don't even earn so much!! That is plain and simple stupid. People need to get a brain.

It is certainly possibly for you to live without debt if you work hard and live within your means. I don't have any debt and while I don't live the best life in the world, I am happy with the simplicity that I have in my life. I only spend the money that I have earned, and if I don't have left then I would never borrow any more from anyone. I hate owing money even a small amount to a friend, and I just can't rest until I've managed to pay it back. So I vowed that I would never take out a loan or anything like that, because I really want to be able to pay my own way in life.

Like many others, Yes it is possible but you must have strength. First of all, look for a high interest savings account. Find bank accounts that have little or no fees. If you required a credit card, think about getting a pre paid master/visa card or debit master/visa card where you use your own money. Buy second hand stuff. Or when you do shop, compare prices and by the cheaper stuff. And don't be afraid of accepting anything that is for free like clothes. Here is another idea, for any item that you want to buy but is not a need get a drink bottle and put any coins in that fit into that bottle. When you have enough money in that bottle, use that money to buy all your wants. Set a goal of savings and work towards it. Reduce any spending if possible. As for me, yes, I do have debt but plan to get out of it. Things I have looked at are getting rid of credit cards and using debit visa cards instead which I have done. For my electricity bills, I have opted to look at anything that is powered by the sun to makes extra savings. I searched for a high interest account and an account with no fees. Oh there are fees, but I use the functions that do not attract fees. And I have used the bottle so that I could save up and get a small dishwashing machine and got. Really it is clever planning of your money and your savings. You can keep your debts to nil or if you plan to purchase a car and or house, they would be the only debts that will be required unless you are very strict on your spending and able to save up to buy a car and or house.

I don´t have any debts, but I know exactly what can I buy and what I am not able to buy at a certain moment. I have made a sort of pyramid about what is more important for me and what is less important. I spend the money I have in those things that matter to me: food and health, to begin with. I don´t mind if I wear clothes that have many years. I take good care of them and try to buy those that have nothing to do with trends.

Of course it's possible, but you need organization to live a life with no debts. Many persons spend more money than what they won, so, of course they will have financial problems in the end of the month. It's a good idea to put in a notebook all your spend to see where your money is going otherwise we never know why we don't have money in the end of the month.

Hi friend, we can live without debt, if we control our dreams and desires. Most of us are interested in living luxury life and spending a lot for it, we need social status and spending money for it. If we change this kind of activity and attitude, we can live debt free life with our own income. Some people don't have credit cards and live their life happily with out it. Too much of debt will spoil our peace, we must realize this face and avoid getting debts from others

Us folks on the left believe that living life debt free is possible and is a necessity. Around 2004 an ex police officer who also was involved in investigating the 911 towers following had mention the crises of peak oil and what we must do as a nation to survive. The first thing he said was to get out of debt and to start shopping locally. He also mentioned getting to know your neighbors and to start bartering. This is how they survived during the depression. Communities got together and agreed on how much they would pay on certain things at an auction and no one dare bid above that. That was how they managed to buy back most of the farm equipment dirt cheap. Organize create small communes within your neighborhood. We're planting a garden and have parked our car. Leaving below your means is possible. It will take willpower and walking or riding a bike to get places rather than taking your car. The cartels of OPEC have warned you to expect gas prices to reach $7.00 by the end of this year and I do believe we will see those prices. As the price of fuel goes up then so does everything else; price of food keeps getting higher; electricity; natural gas; water; so the only way to survive really is to live below your means and get out of debt. It can be done my parents did it. We never had credit cards and we only had one car. Dad had it at work so if we wanted to go anywhere it was walk or take the bus. We always had food on our table. We'd hide from bill collectors and mom was ready just in case the water got shut off -- it never did. Neighbors would help each other out back then. We'd borrow from one neighbor and then they'd borrow from us. Kept utilities on and we kept them warm when they ran out of oil. Times are somewhat different now. People don't have time to get to know your neighbors. We have and we know are neighbors who live directly across from us and the two that live next door and we talk to each other every now and then.

If you mean monetary debt, it could be possible. But for debt of gratitude, I don't think we could ever repay it. We could only gave back gratitude and respect to the person who gave it to us but still the debt of gratitude will always be there.

It is possible , I am debt free . I dont take things on credit and I buy what I can afford never over that limit . Many people I know dot even like taking car on credit , they rather to pay in full . I dont think ill ever be in those kinda debt .

When ever I get ahead of debt, before I can build enough savings some emergency comes along and then we are back in debt again.

I wish I could live debt free, but it is impossible. I know I have student loans and am working hard to pay them off a little at a time. I have some old debts that I am paying off so I can clean up my credit report and Randy's credit report. We are so close to cleaning them up so we can eventaully get our own place. If all goes well I think we can clean up the old debt by the end of the year. I will then live within my means and not overspend again. Most of randy's debts are old medical bills and sadly the companies will not work with us.

Hi,squallming~ Well, I don't have any debt right now because I'm still a student and my parents pay for the fees. One more year though I will graduate. And I know it's gonna be hard to have a debt-free life. Houses are so expensive, cars as well. My boyfriend does live a debt-free life right now. Lucky for him. He worked so hard a couple of years ago as a restaurant manager and he barely caught a break while he was on that job. But the thing is, he has no savings right now. So yeah,I think it is possible to live without debt.I'm sure some of the rich people have plenty of income every month and they don't need to worry about debts at all. But for us,I think the only way to lead a debt-free life is to work hard.

I think we can limit ourselves but sometimes it seems we have little choice. Can we afford it? Can we afford not to? It depends and every buying decision is a separate decision. We need transportation for example and the cost is there. To say no will have repercussions. Another way of looking at this is if we take a countries nationals debt (few are without debt) and divide it with population we come up with a figure. Each person owes something whether we like it or not. Adding to it is the $ question.

Yes it is possible :) But this is not applicable for me. I have a credit card and I pretty much use it all the time when I am paying for things. I like using my credit card since I get points out of it. Sometimes there are even freebies! Happy mylotting.