Reply #8: I know many family and friends who bought houses... [View All]

[spuddonna]

... and are now loaded into debt. They have first and second mortgages, and thousands in credit card debt.

But they STILL take vacations to Disneyworld, the beach, etc, and keep racking up the debt, refinancing over and over... Most are terrified they'll lose their jobs. It's an utter crap shoot, and they pray no one gets sick.

I also know many people that work in IT and are being laid off, again, for the third or fourth time since 2000. My hubby and I were lucky enough to save like crazy during the late 1990's and now are students (again). But the savings is running low, and our debt is running high. We're not even back to square one yet - graduating with a degree looking for jobs yet - and are loaded with debt. It's very scary...

I say that prayer all the time: "Please, oh PLEASE Lord, help us not lose our asses." :)