Hi cacosapo,

You're right that my approach is archaic by today's standards...however, by paying cash ( as I don't use credit cards either ) I don't have the enormous debt loads my friends have either...

we are a debt-ridden society because we spend more than we earn...everyone wants to have what they want right away whether they can afford it or not...and when you die who assumes your debt if your estate is not large enough to cover your debts? Depending on the country...it passes onto your living family.

In principle, if we all practiced fiscal responsibilty ( especially our respective governments ) we would all be better off financially...

so...in short, I do agree with you...but...sometimes old ways are still the better ways!

Eg