Comments on: A Budget That Works http://joelmaxwell.com/2006/12/19/a-budget-that-works/ Breaking the Chains of Debt, Forever! Tue, 06 Jan 2009 08:41:39 +0000 http://wordpress.org/?v=2.3.1 By: Joel http://joelmaxwell.com/2006/12/19/a-budget-that-works/#comment-5369 Joel Fri, 05 Jan 2007 03:22:27 +0000 http://joelmaxwell.com/2006/12/19/a-budget-that-works/#comment-5369 Hi Sam, Sorry for the delayed response; life has been really busy lately. My initial thought is I don't care about my credit score because I will NEVER EVER again borrow money for ANYTHING! With that initial thought, I have discovered something amazing; somehow my credit score has not been damaged that badly. I guess the regular payments to so many accounts has kept my score above 600. Some day after everything is paid off, I will have it drop down to zero and will be very content; however, until that day I won't think about it much. I know it may be quite a paradigm shift for you; but I would recommend that you not borrow money for real estate investments as well. If you save over time and pay cash you are a lot more careful about what you buy. Additionally, when you don't have to make a payment, the cash flow is incredible, and the equity goes through the roof. Just my humble opinion. Hi Sam,

Sorry for the delayed response; life has been really busy lately.

My initial thought is I don’t care about my credit score because I will NEVER EVER again borrow money for ANYTHING! With that initial thought, I have discovered something amazing; somehow my credit score has not been damaged that badly. I guess the regular payments to so many accounts has kept my score above 600. Some day after everything is paid off, I will have it drop down to zero and will be very content; however, until that day I won’t think about it much.

I know it may be quite a paradigm shift for you; but I would recommend that you not borrow money for real estate investments as well. If you save over time and pay cash you are a lot more careful about what you buy. Additionally, when you don’t have to make a payment, the cash flow is incredible, and the equity goes through the roof. Just my humble opinion.

]]> By: Amy http://joelmaxwell.com/2006/12/19/a-budget-that-works/#comment-4223 Amy Fri, 22 Dec 2006 19:21:37 +0000 http://joelmaxwell.com/2006/12/19/a-budget-that-works/#comment-4223 Hi Sam, I'm Joel's wife. I'll let him answer most of your question. But I will say, that we don't care about credit scores because we will NEVER borrow money again. Hi Sam, I’m Joel’s wife. I’ll let him answer most of your question. But I will say, that we don’t care about credit scores because we will NEVER borrow money again.

]]> By: Sam http://joelmaxwell.com/2006/12/19/a-budget-that-works/#comment-4220 Sam Fri, 22 Dec 2006 17:04:39 +0000 http://joelmaxwell.com/2006/12/19/a-budget-that-works/#comment-4220 Joel, I came across your blog as I was researching the zero based budget. I plan, along with my new husband, to start a budget in 2007. We make a very good living and our debt is generally low (although I want to pay it all off, except the mort. debt) and own 4 properties including the one we live in. I wonder what you think about credit scores and how your spending or lack of spending (lack of credit cards) impacts your scores. Do you not care about your credit score b/c you don't plan to borrow any money from a lender, or is your credit score so bad that your present plan can only improve it. We need to maintain a good credit score in order to continue to invest in real estate. Joel, I came across your blog as I was researching the zero based budget. I plan, along with my new husband, to start a budget in 2007. We make a very good living and our debt is generally low (although I want to pay it all off, except the mort. debt) and own 4 properties including the one we live in. I wonder what you think about credit scores and how your spending or lack of spending (lack of credit cards) impacts your scores. Do you not care about your credit score b/c you don’t plan to borrow any money from a lender, or is your credit score so bad that your present plan can only improve it. We need to maintain a good credit score in order to continue to invest in real estate.

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