I don't claim that I never financed anything, but I have always kept it to a minimum. I have told my son & grandkids....
"the more debt you owe, the more you are a slave to those you owe it to"!
Curiously, having some debt can help.Last vehicle I bought, I went to a couple dealers, looking for what I wanted. I was surprised to find out that the dealer wanted to check my credit score right off.
No problem, and they found it well over 800, but they did mention that it would have been even higher if I had shown more recent loans.
Point#1, don't tell the salesman right off, that you plan on paying cash.. Let him/her calculate the price assuming you will take a loan..from which they get a piece of the action. Save the cash till after a price is agreed upon.
Home mortgages.. now I try my memory! I bought my first home in 1968, as I recall, the interest was 6%. The wife and I were a bit different, in that we both worked and also ran a very early morning paper route..starting at 0400 hours, 7 days per week.
The money earned there was all stashed away, along with other savings. Thus, when it came to buying a modest, country home w/7 acres, we paid 50% down.
Subsequent homes, and there were several, were all at least 50% down and paid off within 7 years or less. I HATE being in debt!
Something many of we retired and being on a fixed income, must consider.. When the present government spending comes home to roost, and it soon will bring on a major inflation, which in effect will cripple our present spending margins.