Is it just me that blames him entirely? I have zero sympathy for him. I’m not the brightest bulb in the box, I have a high school grad. Got a 30 year fixed mortgage in 2000. Refinanced to a 15 year in 2003. Paid it off by 2014. Good Lord, doesn’t anyone account for the future? Paying off a loan for 36 years is mental. You can’t put yourself in that position.
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Nope, it isn’t just you 
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I’ve always had an allergic reaction to monthly payments. I break out in hives just thinking about them. Those payments infringe upon your expendable cash. Keep them at an absolute minimum at all costs, and you will live a better life.
Some you can’t avoid, but have control over the overall cost. Some are totally discretionary. That’s where you need to be careful.
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You and me both! It’s pretty unavoidable when you enter adulthood and are trying to build a credit score.
If you are wise, you’ll spend less than you make, budget for savings and one day be debt free. Then who gives a rat’s behind about credit scores!
I’ve been debt free since 2015. No car payments, no mortgage, no anything. But even when I had those, they’ve been really low. Our mortgage payments were always under 10% of our monthly income. That’s the result of my serious allergy.
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Well, then you might wish to know that the federal debt is financed the same way.
Bonds, T-bills etc. pay interest only until maturity, and then the entire principle is refinanced/paid-back.
(Doesn’t matter if one blames the D’s or the R’s for the federal debt, this is the most kick-the-can-down-the-road method possible and we probably should not be doing it.)
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